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- Cardano Vs. Algorand
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- Buy ‘ADA’ in Australia
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- Buy ‘ADA’ in India
- Buy ‘ADA’ in Singapore
- Buy ‘ADA’ in UK
- Buy ‘ADA’ in USA
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Table Of Contents
Cardano (ADA) is a third-generation public blockchain and Dapp development platform. The platform earned international media attention as the first blockchain to incorporate a peer-reviewed research strategy into its core principals. Today, ADA is one of the top cryptocurrencies in the world. To learn more visit our Investing in Cardano guide.
We feature the top 7 exchanges that offer the option to buy Cardano (ADA) with a credit card, debit card or Bitcoin. For larger sums you can also send a wire transfer.
Founded in 2011, Kraken is one of the most trusted names in the cryptocurrency industry with over 9,000,000 users, and over $207 billion in quarterly trading volume.
From humble beginnings, Kraken now offers over 200 digital assets including Cardano (ADA). For more sophisticated investors Kraken also offers futures and margin trading.
Kraken has continued to evolve its platform, and its commitment to the industry by being one of the first exchanges to offer buying opportunities on new tokens. Users can also earn up to 23% in rewards annually by staking select digital assets.
Kraken offers trading access to over 190 countries including Australia, Canada, Europe, and is our most recommend exchange for USA residents. (Excluding New York & Washington state)
Founded in 2011, Bitstamp is one of the oldest & most trusted exchanges in the world and are a popular choice in the USA. The exchange now has more than 4 million users worldwide and offers a wide range of cryptocurrencies to choose from including Cardano (ADA).
A highly experienced exchange, Bitstamp provides a thorough and user-friendly trading environment that is secure and with enough choice to satisfy most traders. The global nature of the company and the trusted regulation and licensing put in place is also a positive aspect for many new or experienced users.
They currently accept Canada, UK & USA residents excluding the states of Alabama, Hawaii, Idaho, Louisiana, Nevada, & New Jersey.
Uphold is a commission-free desktop and mobile trading platform that gives you access to, and the opportunity to trade Cardano (ADA) and dozens of other cryptocurrencies. They have been in operation since 2014 and now boast a very credible reputation with more than 1.5 million users worldwide.
One of the most unique features offered by the company is that you can trade directly across asset classes. This vastly improves efficiency and allows for you to avoid any unnecessary conversion fees. So, if you want to trade Bitcoin for gold, or vice versa, Uphold is the place you can do that.
The services spread on Cardano (ADA) and other cryptocurrency ranges from 0.8% to 1.2% depending on the asset. This is the only fee you will have to think about though with Uphold being completely transparent and charging no commission.
Best of all they offer ADA staking opportunities.
UK & European residents are prohibited.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Nexo is a cryptocurrency platform and service which describes itself as one of the worlds leading digital asset institutions offering an all-in-one solution to buying, borrowing, and managing cryptocurrencies.
The company has been around since 2017 and now operates in over 200 jurisdictions providing service to more than 4 million users around the world while providing a wide range of innovative features to traders.
Overall, the company has a strong reputation for providing a top-tier service that operates with a high level of accountability and works to ensure user assets are kept as safe as possible.
What sets this platform apart is the ability to earn high interests from crypto that is held.
More than 35 popular cryptocurrencies can be purchased within 7 seconds using the Nexo buy function. This includes Bitcoin, Ethereum, USDC, USDT, and NEXO the native token of the company. Users users can trade in more than 300 market pairs including over 100 exotic pairs which may be more difficult to find elsewhere.
Binance is one of the largest and most well-known cryptocurrency exchanges in the world. The benefits of purchasing Cardano (ADA) here are both lower fees than competing exchanges, and increased liquidity enabling you to buy and sell quickly to take advantage of market moving news.
This exchange is best for investors residing in Australia, Canada, Singapore, UK & internationally. USA residents are prohibited from purchasing most tokens.
Use Discount Code: EE59L0QP for 10% cashback off all trading fees.
KuCoin is a well-known name in the industry, and one of the most competitive when it comes to fees and trading costs. The exchange has grown exponentially from its early days of offering only crypto to crypto trading. It now offers a varied range of services including a P2P exchange capability, and purchasing with credit or debit cards.
KuCoin currently offers Cardano (ADA) cryptocurrency trading as well as over 300 other popular tokens. It is often the first to offer buying opportunities for new tokens.
This exchange currently accepts USA residents.
7. Huobi Global
Established in 2013, Huobi Global has since become one of the world’s largest digital asset exchanges, with an accumulated trading volume of US $1 trillion. Having once accounted for half of the world’s digital asset transactions, Huobi now serves more than 5 million users in over 130 countries around the globe. It should be noted that Huobi Global currently does not accept USA or Canadian residents.
Huobi Global is one of the top exchanges that currently offers Cardano (ADA) trading opportunities.
Launched in 2018, WazirX is India’s biggest cryptocurrency exchange with over 6,o00,000 users, and is expanding rapidly. It is one of the most reputable exchanges to currently offer Cardano (ADA) trading opportunities and currently accept clients from all over the world. This exchange is part of the Binance Group, which ensures a high standard of quality.
USA residents are prohibited.
What is Cardano (ADA)?
Cardano is a blockchain based network, which utilizes its own native token, ‘ADA’.
Cardano touts itself as the first network of its kind to be ‘peer-reviewed’. This means that prior to any changes being implemented to the network, a growing global group of respected scientists, from various fields, assess any proposed upgrades.
What does it do?
Through use of its native token, ADA, users gain the ability to transact directly with others. This means that there is no need for a third-party ‘middleman’. Rather, users have the ability to transact peer-to-peer.
In time, the Cardano network is scheduled to support a wide variety of decentralized applications.
How does Cardano (ADA) work?
Cardano functions through use of a Proof-of-Stake (PoS) model. This means that the network does not make use of miners, as seen in networks like Bitcoin. Instead, any network participant holding ADA –known as stakeholders- in a supported wallet, has the ability to validate transactions. Rewards for this vary, based upon the size of one’s holdings.
Through use of a unique approach, named Ouroboros, Cardano adds a new layer to PoS. This is done through stakeholder pools. For those utilizing this option, holding rights can be pooled with others, allowing for a ‘stake pool manager’ to manage block production.
Development of the Cardano network is a multi-stage process, which has only just begun. Named after famous and influential scientists, philosophers, and more, there are 5 main markers along the Cardano roadmap. These are,
- Byron – This first stage of development surrounds establishing the foundation of the network, preparing it for the growth expected in the coming years.
- Shelley – Once a solid foundation is built, this second stage is expected to bring changes, surrounding/increasing decentralization of the network.
- Goguen – When sufficient decentralization of the network has occurred, stage 3 will bring the capability for the network to support smart-contracts and dApps.
- Basho – The fourth stage of the Cardano roadmap will see developments surrounding the scalability and interoperability of the network.
- Voltaire – As the fifth and final stage currently planned, it will concentrate on the implementation of a new governance model. The goal of which is to make the network self-sustaining. This will be achieved through various upgrades, such as the implementation of, both, a voting and treasury system.
As of July 29, 2020, the Cardano network will officially begin its transition from stage one to stage two. This stage, known as Shelley, will bring forth new levels of decentralization, by shifting from federated nodes to community run nodes.
For Cardano, it would appear as though the network is being built to offer much of the same capabilities of rivals, such as Ethereum. The difference, however, is an emphasis being placed on a few traits.
- Environmental impact – Many networks have recognized the negative impact that energy intensive protocols, like proof-of-work, can have. By utilizing PoS in the manner that Cardano has chosen, the network requires significantly less power to operate.
- Openness and transparency – Cardano indicates that as a peer-reviewed blockchain, network participants benefit from more than just a well-built product. They also benefit from new levels of openness and transparency in their operations, and the direction/progression of the network.
Acceptance and Controversies?
To date, Cardano has had minimal levels of both acceptance and controversy.
While the network’s native token, ADA, can be found on many exchanges, this is arguably the biggest adoption seen, thus far. Until smart-contract capabilities go live on the network, this will most likely remain the case.
To date, the Cardano network has managed to avoid most controversies. The most commonly noted issue with the network, is the lack of decentralization. As mentioned before, this is expected to change with the implementation of stage 2 on the Cardano roadmap.
There are a select few that have raised issues with, what they call, ‘plausible assumptions’, made in the Cardano whitepaper. Essentially, the foundation of the Cardano network was built with various assumptions on how it will adapt to future levels of adoption. Some are believers, while others are not fully convinced that the network will function as intended.
To date, there have not been any official statements made on Cardano by regulators. As a result, the project does remain in somewhat of a regulatory ‘limbo’.
Unless an official statement is made, otherwise, there remains a chance that ADA will be viewed as a security. Those that believe this may be the case, typically provide two points for their argument.
- The network is not decentralized at this point.
- While restricted to U.S. residents, Cardano was initially funded through an ICO.
Who Made It?
In 2017, Cardano was launched by Charles Hoskinson. As a co-founder of Ethereum, Hoskinson brought immediate clout and intrigue to the project, and its native token ‘ADA’.
Daniel is a big proponent of how blockchain will eventually disrupt big finance. He breathes technology and lives to try new gadgets.
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