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How to buy Cardano (ADA) in Canada

Find out all about Cardano and the Ada cryptocurrency.

Updated

Fact checked

Cardano is being built from the ground up and aims to be the most practical and effective cryptocurrency network ever made.

Primarily based in Japan, it began development in 2015, and was publicly launched on 29 September 2017. Cardano Ada (ADA) tokens were first made available for trading on 1 October 2017. Since then, it’s become the fourth largest cryptocurrency by market capitalization, peaking at over US$1.3 billion on 27 November 2017.

See our guide for a complete run-down of Cardano and it’s ADA cryptocurrency

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
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Quick guide: How to buy ADA

  1. Register for an account with a cryptocurrency exchange like Kraken.
  2. Verify your account.
  3. Enable two-factor authentication.
  4. Click "Funding" then "Deposit."
  5. Select a currency as the payment option, then choose your transfer method.
  6. Transfer funds into your account.
  7. Search for the desired cryptocurrency market.
  8. Enter the amount you want to buy.
  9. Review the transaction details.
  10. Click “Buy.”
Go to Kraken's site

This is our quick guide to just one way to buy ADA. Compare some other options in the table below.

Where to buy Cardano Ada tokens

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Credit card,Debit card,Interac e-Transfer,Bank Wire,Bank Draft
CAD

10
cryptocurrencies

Get a $20 bonus in BTC when you open an account and deposit at least CAD$100. T&Cs apply.
Buy and sell cryptocurrency quickly and easily, with instant verification and 24/7 customer support, on this Canadian exchange.
Bank transfer (ACH),PayPal,Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

66
cryptocurrencies

Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Cryptocurrency,Interac e-Transfer,Wire transfer,Bank Draft
CAD

10
cryptocurrencies

Get a $10 bonus when you open an account and deposit at least CAD$100. T&Cs apply.
NDAX is a Canada-based digital asset exchange with CAD currency pairs and with options for advanced traders.
Credit card,Bank transfer (SEPA),SOFORT,SWIFT,Fedwire
USD, EUR, AUD, CAD, GBP, JPY

10
cryptocurrencies

Founded in 2013, CoinMama lets you buy and sell popular cryptos with a range of payment options and quick delivery.
Credit card,Cryptocurrency,Debit card,Osko,PayID
USD, AUD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH & 23+ more

204
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Credit card,Cryptocurrency,Debit card
USD, EUR, GBP, RUB, CNY, AUD, KRW, JPY, TRY, VND & 40+ more

210
cryptocurrencies

Browse a variety of coin offerings in one of the largest multi-cryptocurrency exchanges and pay in cryptocurrency.
Electronic Funds Transfer,Wire transfer,Osko,PayID,Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF, AUD

43
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Bank transfer (ACH),Credit card,Bank transfer (SEPA), Faster Payments Service,Skrill
USD, EUR, GBP, RUB

22
cryptocurrencies

Disclaimer: Highly volatile investment product. Your capital is at risk.
Use your USD, EUR or RUB to buy and sell cryptocurrency at competitive exchange rates and with high maximums for verified accounts.
Credit card,Cryptocurrency
USD, JPY, RUB, EUR

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Credit card,Debit card
USD, EUR, GBP, AUD, CAD, CHF, HKD, JPY, PHP, ZAR & 30+ more

146
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for 150+ cryptocurrencies on this global exchange.
OKEx Cryptocurrency Exchange
Bank transfer,Cryptocurrency,WeChat
USD, CNY, EUR, ARS, AUD, BGN, BRL, CAD, CHF, COP & 20+ more

269
cryptocurrencies

Listing over 100 cryptocurrencies, OKEx offers its users a variety of payment methods and coins to choose from.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE

234
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bithumb Cryptocurrency Exchange
Cryptocurrency,Wire transfer
KRW

103
cryptocurrencies

A global platform where users can make KRW and cryptocurrency deposits to purchase up to 15 popular cryptocurrencies.
Bittrex Digital Currency Exchange
Cryptocurrency,Wire transfer
USD

278
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
AdvCash,Bank transfer,Cryptocurrency,Debit card,Payeer
USD, EUR, GBP, RUB, PLN, TRY, UAH, KZT

53
cryptocurrencies

A UK-based cryptocurrency platform that provides buyers with a wide variety of payment options.
Bitit Cryptocurrency Marketplace
Cash,Credit card,Debit card,Neosurf,Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.
Gate.io Cryptocurrency Exchange
Cryptocurrency
-

36
cryptocurrencies

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Compare up to 4 providers

As a new cryptocurrency, options for buying Ada are still very limited. You will also need a wallet that supports it.

Did you know?

Ada supply

  • Max supply: 45 billion ADA
  • Ada currently in circulation: About 32 billion ADA

What is Cardano and how does it work?

Note: Cardano is still under development. Not all of the features described below are active at the time of writing in February 2018.

Cardano is entirely open source and created from the ground up with the goal of being the most practical cryptocurrency ever made. Some of its features, such as the Cardano blockchain and Daedalus wallet, were purpose-built from scratch and designed to be better than anything else currently available.

One of the main features of the Cardano system is the multi-layer design:

  • The settlement layer. This is the layer that operates the ADA tokens.
  • The computing layer. This layer can run smart contracts, recognize individual users and perform other functions.

Bitcoin and most other cryptocurrencies have all of these functions in one layer. This multi-layer system brings some features that traders may find useful.

  • Upgradeability. The system has been specifically designed to allow for relatively smooth and easy upgrades with soft forks. The multi-layer design allows for each layer to be forked and upgraded separately.
  • Adaptability. The computing layer can be adapted in various ways without affecting ADA. For example, to help meet different regulatory requirements in different countries without needing to make one-size-fits-all changes to the ADA cryptocurrency.
  • Privacy with compliance. Users can get privacy for their transactions even though the computing layer is able to recognize individuals. This system is designed to offer a level of anonymity, while still allowing compliance with laws around the world.

These layers will be underpinned with the Cardano treasury, which will receive a yet undecided portion of newly minted Ada and transaction fees.

Cardano mining

Cardano uses an entirely new mining algorithm called Ouroboros. According to its developers, it’s the first proof-of-stake mining algorithm that’s been mathematically proven to be secure.

Did you know?

How proof of stake works

Most cryptocurrencies use “proof of work” mining, in which miners compete to solve problems, produce the next block and win a reward for doing so. By contrast, “proof of stake” mining works by picking a semi-random stakeholder to solve the next block, with larger stakeholders (contributors with more ADA) more likely to be chosen.

This can potentially offer quicker and cheaper transactions, plus the benefits of being more energy-efficient.

The problem is finding a truly reliable and random way to pick the stakeholder to make a block. According to its developers, Ouroboros solves this problem.

Is Cardano trustworthy?

Cardano is entirely open source and patent-free. All of its source code is publicly available for scrutiny. People interested in Cardano may find that this not only assists development, but also means any problems can be highlighted quickly. It’s also fronted and developed by some publicly accessible and widely known names.

  • The Cardano Foundation: A Swiss-based non-profit designed to serve as a standards body for the Cardano protocol as it evolves over time, and to interface with regulators in different markets.
  • IOHK: A well-known engineering company dedicated to peer-to-peer financial services innovations. IOHK is behind most of Cardano’s technology.
  • Emurgo: A registered company formed to interface between Cardano and businesses by offering Cardano as a blockchain business solution.

Things to consider before purchasing Cardano

The developers claim that Cardano was purpose-built to be the only cryptocurrency the world needs, offering an exceptional range of features and usefulness.

In particular, it’s designed to work well with regulations and to be accessible to almost anyone. For example, it’s already laid out plans to release Ada vending machines in Japan, and having an easy-to-use dedicated multi-currency wallet also removes an obstacle.

However, development is still ongoing and its full functions are not going to be available for some time. As of November 2017, only the settlement layer is operational.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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