- Cardano is a secure, scalable, and sustainable blockchain platform.
- Cardano uses a Proof of Stake (PoS) protocol which is more energy-efficient and cannot be mined like cryptocurrencies using a Proof of Work (PoW) protocol.
- Cardano’s digital currency ADA can be purchased on any Cardano-supported crypto exchange.
If you are interested in buying Cardano (ADA) from Canada, the easiest way to buy is with a crypto exchange where Cardano is listed.
This is a step-by-step guide for where and how Canadians can buy Cardano today.
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Where to buy Cardano
Step 1: Find an exchange that sells Cardano
Since Cardano is among the most popular coins, lots of the top cryptocurrency exchanges offer it. If you're comparing crypto exchanges where you can buy Cardano, the most important factors to consider are security and charges.
Step 2: Set up and verify your account
Before you are able to purchase Cardano with an exchange, you must first create an account and then verify your identity for regulation and security. This is a simple procedure that takes only a few minutes to complete. Most likely, you'll need to supply your name, birth date, your country of residence, and a phone number. You might also be required to provide further proof of identification such as a copy of your driving license, passport, or other government-issued ID.
Step 3: Transfer funds
You can add funds to your account in a variety of ways. You can deposit fiat currency (CAD) from your bank account, credit or debit card, Interac e-Transfer, PayPal, etc. It might take a few days for cash to be cleared. You can also fund your account with crypto. Some exchanges require a minimum deposit.
Step 4: Decide how much to invest
It is important to set a firm budget for how much to invest in Cardano. Since the value of Cardano can be volatile, you should only invest what you can afford to lose.
Step 5: Purchase Cardano
Once your account has been verified and funded, you can buy Cardano. Depending on the exchange you select, you might be able to create a recurring order and automatically buy more Cardano on a regular basis. Some exchanges offer the option of using stops and limits.
Where to store your Cardano
When it comes to storing your Cardano, you have a multitude of options including your exchange wallet, Cardano wallets, and other third-party wallets.
If you want anytime access, you should store your ADA in a hot wallet. However, if you don't require frequent access, consider storing your coins in a cold wallet for greater security.