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How to buy Cardano (ADA) in South Africa
Learn how to buy Cardano (ADA) on 8+ crypto exchanges in our step-by-step guide.
You can buy Cardano (ADA) on a cryptocurrency exchange like FTX. These specialised marketplaces that allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. ADA is the native cryptocurrency of the Cardano blockchain. Here's how to buy Cardano.
How to buy Cardano in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Cardano is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit R using the payment method that best suits you – credit card, wire transfer, silvergate exchange network (sen) and signature signet payments are widely accepted.
- Buy Cardano You can now exchange your funds for Cardano. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Cardano to your personal wallet.
Where to buy Cardano in South Africa
Find an exchange to buy, sell and trade ADA by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Cardano?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in South Africa to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Cardano?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Cardano.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing ADA with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Cardano with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy ADA with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy ADA on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase ADA by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for ADA on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Cardano?
The easiest way to buy ADA is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying ADA, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Cardano has been performing recently.
Best Cardano wallets to store your ADA
You can keep your ADA on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Recent Cardano developments
Is Cardano a good investment?
Cardano aims to challenge Ethereum as the premier smart contract platform. Despite recent progress, there remain several aspects of the project you may want to consider before investing. Weighing the various benefits and risks of the protocol can help you make an informed decision:
- Cardano has a unique multiple layer architecture, including separate settlement and computational layers, ensuring scalability and fast transactions.
- Cardano benefits from extensive academic backing. This gives the project considerable credibility in the scientific community.
- Despite the length of time spent on its progression, Cardano’s transparent roadmap continues to keep investors apprised of current and future developments.
- Cardano’s team of developers are well respected in the space. The protocol boasts ample resources and solid name recognition.
- Cardano has seen tremendous progress toward its goals. Nevertheless, the proof of stake, smart contract field has become crowded since Cardano's initial launch. As an unfinished product, much of Cardano’s value is still based on the protocol’s potential.
Additional information about Cardano can be found using our ADA analysis tools.
Today's Cardano price versus ATH
Compare today's price of Cardano ($0.453831 USD) against its all-time-high price of $3.09 USD on 02 September 2021. The closer the bar is to 100%, the closer ADA is to reaching its ATH again.
ATH date: September 02, 2021
Cardano ATH: $3.09
How to trade, convert or sell CardanoYou can convert or sell your ADA with the same exchange you bought it through:
- Sign in to the exchange you have ADA on.
- If you store your Cardano in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of ADA you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Cardano.
- Complete your transaction and move your ADA to a wallet for storage.
Disclaimer: Cryptocurrencies, including Cardano, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of ADA 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 Cardano or any other cryptocurrency discussed.
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