How to buy Cardano (ADA) from New Zealand

By   |   Verified by David Boyd   |   Updated 29 Aug 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 New Zealand, 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 New Zealanders can buy Cardano today.

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Where to buy Cardano

Swyftx

On website

Swyftx

Highlights

  • Receive $10 worth of BTC when you sign up and verify your account.
  • Trade over 260 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
  • Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
  • New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.

Pros

  • Trade more than 300 crypto assets through the Swyftx platform.
  • Offers tight spreads and low trading fees.
  • Get support within 5 minutes through their live chat.
  • Practice trading with a demo mode.

Cons

  • Lacks access to advanced trading markets.
Easy Crypto

On website

Easy Crypto

Highlights

  • The first crypto broker in New Zealand to offer a 100% funds safety guarantee on every order.
  • Full custodial control over your crypto at all times.
  • Convert easily and quickly between cryptocurrencies.

Pros

  • Simple and easy-to-navigate interface.
  • There is a wide range of cryptocurrencies available.
  • Includes tracker which shows your portfolio's performance.

Cons

  • High transaction fees compared to other exchanges.
Uphold Crypto

On 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.
Gemini Exchange

On website

Gemini Exchange

Highlights

  • Gemini Exchange makes it simple to research the crypto market, buy bitcoin and other cryptos, and build a portfolio for the future of money.
  • Set recurring buys and dynamic price alerts.
  • All crypto held online in Gemini's exchange wallet is insured and it uses the best-in-industry cold storage coverage with leading insurance providers.

Pros

  • Suitable for both beginner and advanced traders.
  • Supports multiple fiats and cryptocurrencies.
  • You can earn interest on your cryptocurrency balances.
  • Its mobile apps are highly rated.

Cons

  • The fee structure can be expensive for both small trades and higher volume trades.
Independent Reserve

On website

Independent Reserve

Highlights

  • Instant deposits 24/7 via Osko/PayID.
  • Fee-free deposits are available. Trading fees from 0.5% down to 0.02%.
  • Invest in crypto for your SMSF and get detailed reporting for ATO compliance.

Pros

  • Automate your cryptocurrency trading strategy with Independent Reserve's AutoTrader feature.
  • Its built-in tax calculator makes it easier to file your tax return.
  • ISO certified and has an AUSTRAC license.

Cons

  • It has a limited number of supported coins compared to other exchanges.

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 licence, 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 (NZD) from your bank account, credit or debit card, PayPal, POLi, 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.