How to Buy Cardano in 2024

There are many reasons why investors still ask us how to buy Cardanol, and we will talk about each of them below. In fact, one of the most interesting projects in the cryptocurrency scene is perhaps Cardano (ADA). Created by one of the founders of the Ethereum network, Cardano is an ecosystem that has at its origins a zeal for science and human knowledge.

In this sense, a few years after its launch, Cardano is reborn as a good option to buy. Especially due to the innovations that the community is experiencing, but also due to the low value of the cryptocurrency.

To buy Cardano (ADA), you will need to open an account on a cryptocurrency exchange, make a deposit, and purchase ADA through the spot market. This process is simple and accessible, even for crypto beginners.

Quick Steps to Buy Cardano – What Do You Need to Do?

1. Open an account on Binance: Go to the Binance website, create an account by providing your personal details and complete the identity verification (KYC) process.
2. Deposit funds: After verification, deposit funds into your exchange account. Binance currently accepts bank transfer or PIX.
3. Buy ADA on Spot Market: With the available balance, go to the “Spot Market” section, clicking on Trade at the top of the platform. Search for ADA.
4. Enter the purchase quantity : Confirm the quantity of Cardano you want. You can choose a market order, which buys at the current price, or a limit order, where you set the price you are willing to pay.
5. Confirm the purchase and store your ADAs : Finally, simply confirm the purchase and store your Cardano cryptocurrencies in a secure wallet.

Where to buy Cardano – The most advantageous and secure exchanges

First of all, it is important to highlight that cryptocurrencies are bought and sold through exchanges, or cryptocurrency brokers in the most popular jargon. These exchanges are responsible for selling a wide variety of cryptocurrencies, including Cardano.

In this sense, knowing the most reliable exchanges is a first step to trading cryptocurrencies like Cardano and others safely. It is worth noting that, despite these precautions, the process of buying Cardano itself is quite simple.

Regardless of the chosen exchange, the investor simply needs to create an account, confirm their identity and make a deposit to buy Cardano, as well as other cryptocurrencies.

Binance

Binance is recognized for its dominant position in the cryptocurrency market, offering a wide range of digital assets, including over 350 cryptocurrencies since its inception in 2017. With a trading volume that places it at the top of global exchanges, the platform is distinguished by its low trading fees of 0.1% and a strong emphasis on security, storing the majority of assets in cold storage and having a Proof of Reserves system.

The exchange also provides advanced trading tools and access to DeFi services, facilitating staking and yield farming. However, its interface can be complex for newcomers, and it faces regulatory challenges in several countries, and it actively works to comply with local regulations.

Table of costs, fees and commissions:

Buy Cardano on Binance

KuCoin

Launched in 2017 and based in the Seychelles, KuCoin has quickly gained a leading position among cryptocurrency exchanges. With its modern and easy-to-use interface, the exchange has captivated a wide range of users, from crypto newbies to crypto experts.

The exchange is celebrated for its pioneering trading solutions and for quickly making specialized cryptocurrencies available on its marketplace. In addition, it is one of the exchanges that invests the most in blockchain projects, such as the recent investment of US$20 billion in TON. With access to more than 780 cryptocurrencies, it is an exchange for those who are just entering the market.

Table of costs, fees and commissions:

Buy Cardano on KuCoin

Bybit

Founded in March 2018 by Ben Zhou, Bybit has quickly become a global leader among cryptocurrency exchanges. The exchange initially became known for its high-performance trading platform specializing in derivatives, including leveraged futures and options.

Recognized for its attractive rewards program and cutting-edge security, Bybit is constantly innovating, expanding its offering to include spot trading and an NFT marketplace, as well as fostering an engaged community with educational resources and trading competitions.

Table of costs, fees and commissions:

Buy Cardano on Bybit

CoinEx

Another exchange that deserves the attention of those interested in buying Cardano, CoinEx is a global exchange that has been expanding alongside the cryptocurrency market. When it was launched in 2017, the cryptocurrency market was still in its infancy, largely due to Bitcoin’s leverage. However, with the growth of interest in cryptocurrencies, CoinEx has managed to position itself as one of the main exchanges in the market.

In addition to being able to buy Cardano on CoinEx, users have access to a variety of digital assets, including cryptocurrencies, tokens, and derivatives. One of the highlights that the platform receives from users is its ability to offer a hassle-free trading experience, in addition to offering spot trading, margin trading, and futures trading features for more advanced traders. Stalking features and other forms of passive income are also part of the catalog of options that CoinEx users have access to.

Table of costs, fees and commissions:

Buy Cardano on CoinEx

Gate.io

Gate.io is one of the oldest exchanges on the market, with over a decade of existence. Previously, it was called Bter and was very popular in China. Today, Gate.io is a global brand, headquartered in the Cayman Islands and present in several countries. It is constantly cited as one of the ten best exchanges for trading cryptocurrencies on the market.

The exchange works with a wide variety of cryptocurrencies, offering more than 180 different assets, including Bitcoin, Ethereum, and Dogecoin, in more than 400 markets. Furthermore, Gate.io is adapting its operations to Brazil, seeking to offer deposits via Pix and TED, in addition to withdrawals in reais.

Table of costs, fees and commissions:

Buy Cardano on Gate

OKX

Last but not least, we have OKX as one of the most recommended exchanges to buy Cardano in 2024. This is also an exchange from that select list of those founded in 2017, the year of the turning point in the cryptocurrency market.

The company is headquartered in Seychelles and is one of the exchanges with the largest share of the global trading market. With a total trading volume of around 15 billion reais, it operates in more than 200 countries and is also present in Brazil, with more than 350 cryptocurrencies, including Cardano and Bitcoin, one of the exchange’s flagship products.

Table of costs, fees and commissions:

Buy Cardano on OKEx

What is Cardano?

As we have highlighted, Cardano is an innovative blockchain platform that stands out for being one of the first to be built on a philosophy based on research and development guided by scientific evidence. The name is a tribute to the Italian scientist Gerolme Cardano.

Born in Italy in 1501, Cardano was a polymath, the name given to intellectuals who boast in-depth knowledge in several areas of knowledge. In fact, it was Gerolamo Cardano who established the principles of cryptography, one of the pillars of the cryptocurrency ecosystem.

In honor of this legendary figure in science, Charles Hoskinson launched the Cardano network in 2017. Designed with a more scientific approach and based on academic research, the platform stands out for its construction in layers: the Cardano Settlement Layer (CSL) and the Cardano Computation Layer (CCL).

The Cardano ecosystem was designed as a third-generation blockchain platform, focusing on overcoming challenges faced by previous networks such as scalability, interoperability, and sustainability.

The core idea behind Cardano is to create a secure, scalable, and efficiently sustainable blockchain that can support the execution of dApps and smart contracts with high reliability and at a reduced cost. To achieve these goals, Cardano was developed based on academic research and peer review, distinguishing itself by its rigorous scientific approach to blockchain technology development.

This, in fact, is the great value of Cardano, which has one of the pioneering cryptocurrency ecosystems to establish the proof-of-stake (PoS) consensus mechanism. A more energy-efficient mechanism, and totally innovative for the time in which it was launched, despite other large ecosystems having already adopted this mechanism.

The Architecture of Cardano

Cardano’s architecture is divided into two main layers: the Cardano Settlement Layer (CSL) and the Cardano Computation Layer (CCL).

• Cardano Settlement Layer (CSL): This is the first layer, responsible for managing ADA transactions, Cardano’s native cryptocurrency. This layer ensures the transfer of value in a secure and efficient manner.
• Cardano Computation Layer (CCL): The second layer, where smart contracts and dApps are executed. This layer allows the creation of custom rules for transactions and the execution of smart contracts in a secure and flexible manner.

This separation allows flexibility and facilitates system updates without interrupting network operation.

Cardano and the Ouroboros Consensus

One of the core elements of Cardano is Ouroboros, an innovative and highly secure proof-of-stake (PoS) consensus protocol. Unlike the proof-of-work (PoW) mechanism used by Bitcoin and many other cryptocurrencies, Ouroboros is designed to be more energy-efficient, significantly reducing resource consumption while keeping the network secure and decentralized.

The ADA Coin

ADA is the native cryptocurrency of the Cardano platform and serves as a means of transferring value within the ecosystem. Additionally, ADA holders can participate in the network’s consensus mechanism by staking their tokens to help validate transactions and generate new blocks, receiving rewards in return.

Cardano in the Real World

The Cardano Foundation has been actively involved in several global initiatives, including technical collaborations with Epoch Sports and Merchadise to authenticate products, and humanitarian partnerships with Switzerland for UNHCR to support forcibly displaced people. In addition, the Foundation has promoted blockchain adoption through global impact challenges, artistic collaborations to raise funds for relief efforts, and the development of Aiken to simplify smart contract development, demonstrating its commitment to innovation, philanthropy, and blockchain technology.

Reasons to buy Cardano in 2024

With considerable time on the market, the Cardano ecosystem, which was born from a totally disruptive idea, continues to innovate. One of the most significant milestones for Cardano in 2024 is the implementation of Cardano Improvement Proposal (CIP) 1694. It introduces a decentralized liquid governance model, allowing more direct and democratic participation of community members in the development and strategic decisions of the platform.

Specifically, CIP 1694 proposes to divide governance into three main groups: staking pool operators, delegated representatives (DREPs), and a Constitutional Committee. Together, these groups are responsible for voting on important governance actions such as treasury withdrawals, hard forks, and parameter changes, among others, directly on the blockchain.

Furthermore, the creation of the Intersect organization aims to ensure the future development and continuity of Cardano in a decentralized manner, bringing together community members around a shared vision and facilitating the creation of working groups focused on specific needs, such as marketing, legal aspects and NFTs.

Technical Updates and Adoption

The start of 2024 has brought significant updates to the Cardano ecosystem, including advances in performance, scalability, and interoperability. Projects like Catalyst and tools like Mithril Explorer are driving Cardano’s growth and adoption by facilitating community review and improving ecosystem visibility.

dApp Development and Security

Over 1,300 projects are currently under development on Cardano, indicating continued robust growth of its dApp ecosystem. The Aiken programming language, along with other tools and infrastructure platforms, is facilitating this development, reinforcing Cardano’s commitment to innovation and security.

Optimistic Price Forecasts

ADA price predictions for 2024 are mostly bullish, with analysts predicting a significant increase in value. Some analysts predict that ADA could reach as high as $11, reflecting growing confidence in Cardano’s long-term potential.

Conclusion

As 2024 unfolds, Cardano stands out as one of the most intriguing and promising blockchain platforms in the cryptocurrency landscape. Mainly because it is one of the only projects based on scientific research, a commitment to sustainability, and a clear vision for decentralization and governance. As such, unlike other cryptocurrencies, Cardano offers a solid value proposition for investors, developers, and blockchain enthusiasts.

Through innovations such as the Ouroboros consensus protocol, the introduction of the Aiken programming language, and the move towards decentralized governance with the Cardano constitution vote, the platform is shaking up the cryptocurrency market.

The growth of TVL in DeFi and the expansion in the use of NFTs within the Cardano ecosystem are testaments to the untapped potential and lasting value that Cardano promises to bring to the cryptocurrency space.

Given this, investing in Cardano is more than just betting on the appreciation of its cryptocurrency, ADA. It is an investment in the vision of a more equitable, efficient, and sustainable blockchain ecosystem. As the digital world continues to evolve, Cardano’s pioneering approach to solving contemporary problems through blockchain technology could position the platform and its investors to reap the benefits of a new era of decentralized finance and digital applications.

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