How to buy, sell and trade Cardano (ADA) in the US | finder.com
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How to buy, sell and trade Cardano (ADA) in the US

Find out all about Cardano and the Ada cryptocurrency.

Cardano is built from the ground up 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 September 29, 2017. Cardano Ada (ADA) tokens were first made available for trading on October 1, 2017. Since then, it’s become the fourth largest cryptocurrency by market cap, peaking at over $1.3 billion on November 27, 2017.

Live Cardano (ADA) price

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Where to buy, sell and trade Cardano Ada tokens

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

Name Product Payment Methods Available Fiat Currencies Available Cryptocurrencies
Cryptocurrency
-
BTC, ETH, LTC, BNB, NEO, QTUM, SNT, BNT,EOS, BCC, GAS, USDT, OAX, DNT, MCO, ICN, WTC,OMG, ZRX, STRAT, SNGLS, BQX & 40+ more
Trade 60+ cryptocurrency pairs on this up-and-coming exchange based in China. Multi-language support.

Compare up to 4 providers

Where to buyHow it worksMore information
BittrexA dedicated cryptocurrency exchange and the first exchange where Ada went live.Learn more
BinanceTrade ADA/BTC and ADA/ETH currency pairs.Learn more
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, and will likely always be, under development. Not all of the features described below are active at the time of writing.

Cardano is entirely open source, and created from the ground up to be 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.

This is unusual. Bitcoin and most other cryptocurrencies have all of these functions in one layer. This multi-layer system brings some unique advantages.

  • 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 an as yet undecided portion of newly minted Ada and transaction fees.

How to sell or trade Cardano

  1. Go to the exchange platform which you have Cardano on. If your Cardano is in a digital wallet, then you can choose any of the compatible exchange platforms listed above to use.
  2. Via the platform, follow the steps to sell or trade your Cardano.

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 more efficiently 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 its source code is publicly available for scrutiny. 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.

Is Cardano worth investing in?

Cardano might have been purpose-built to be the only cryptocurrency the world needs, offering an exceptional range of features and usefulness.

In particular, it’s deliberately designed to work well with regulations and to be very accessible for 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.

Growing interest is likely to correspond with rising Ada prices.

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 and it’s possible that unforeseen difficulties might derail the project.

Find the cheapest way to buy Cardano

I want to pay with

and buy $ worth

Based on your answers, we recommend:

Coinbase and Binance.

The final amount you’ll have will vary depending on the price of the coin and any network transaction fees you incur.

Although this purchase method is recommended, you can click the button below to view other available exchanges.

View exchanges

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