How to buy Cardano (ADA) from Canada

By   |   Verified by Andrew Boyd   |   Updated 29th August 2022

  • 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.

Where to buy Cardano

Bitbuy

On Bitbuy's website

Highlights

  • Get $40 bonus when you sign up via Finty.
  • Trade quickly and easily on Bitbuy Express, or use the professional tools on the all new Bitbuy Pro.
  • Get low and transparent fees with live order books for advanced users.

Pros

  • You can earn a signup bonus.
  • Competitive trading fees.
  • Assets are insured and held in cold storage.
  • User-friendly website and mobile app.

Cons

  • Deposit and withdrawal fees apply.
NDAX

On NDAX's website

Highlights

  • Get $10 when you sign up and deposit at least $100 in your account.
  • Has the lowest fees in Canada.
  • Set up recurring buys for assets like Bitcoin, Ethereum, and 18 other coins so you can invest in cryptocurrency on your own schedule.
  • NDAX holds a majority of user funds in an offline, multi-signature wallet.

Pros

  • Competitive trading fees at 0.2% for both selling and buying cryptocurrencies.
  • Get 24/7 customer support.
  • Earn by referring a friend.

Cons

  • Other exchanges have a larger choice of digital assets to trade.
  • Only available to Canadian residents
CoinSmart

On CoinSmart's website

Highlights

  • Get $20 in BTC with your first deposit.
  • Trade the major coins and popular altcoins including Dogecoin, Cardano, Solana, Polkadot, and Polygon.
  • Fund your account with Interac e-Transfer, wire transfers, credit / debit cards, or crypto with access to trade funds the same day.

Pros

  • Low trading fees.
  • Deposits are cleared within the day.
  • Supports CAD, EUR, and USD.
  • Get 24/7 customer support.

Cons

  • Limited coins.
  • Fee applies to credit card and debit card deposits.
Coinberry

On Coinberry's website

Highlights

  • Register in just 60 seconds and start investing with as little as $50.
  • No CAD deposit and withdrawal fees.
  • Coinberry is insured, FINTRAC registered & PIPEDA compliant and is the only digital asset platform trusted by Canadian Government municipalities.

Pros

  • Easy sign-up process and instant verification.
  • No fees to deposit or withdraw fiat.
  • There is a $200 million crypto asset insurance.
  • Easy to use mobile app.

Cons

  • Limited choice of altcoins.
  • High trading spreads.
Uphold Crypto

On Uphold's website

Uphold Crypto

Highlights

  • Invest in 110+ coins including the majors, altcoins, and stablecoins with 0% commission.
  • Ability to trade crypto against other assets like foreign currency and commodities.
  • Stake a range of coins with competitive yields.

Pros

  • Open an account in less than a minute.
  • Low deposit requirement and commission-free trading.
  • Option to trade fiat currencies and precious metals.

Cons

  • High spreads on low-liquidity assets.

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.