Cardano is one of the top cryptocurrencies by total value, and many investors are looking to add it to their portfolio alongside popular coins such as Bitcoin and Ethereum. While those latter choices are available to trade in many places, including quite a few you might not expect, it’s harder to trade Cardano outside the major crypto exchanges, but you do still have options.
Here are three places to buy Cardano (ADA) and some key things to watch out for as you do.
What is Cardano?
Cardano is one of the most popular cryptocurrencies on the market today, and it’s among the top 10 by total value as of April 2022, according to CoinMarketCap.com. The currency was created in 2015 and began trading publicly in late 2017 starting at a few cents a coin. From there, it’s risen exponentially as traders have flocked to cryptocurrency, including Bitcoin.
Similar to many other cryptocurrencies, Cardano relies on a decentralized network of computers to verify and manage the crypto system. It uses what’s called a “proof-of-stake” system (like rival Ethereum) to verify transactions on its blockchain database, meaning that Cardano owners validate the system in exchange for rewards, in a process known as crypto staking.
Cardano also allows owners to use decentralized apps, or dApps, that enable smart contracts, and let users engage in financial transactions such as lending and trading, among others.
3 ways to buy Cardano
Cardano is not as widely available as some of the largest cryptocurrencies, including Bitcoin and Ethereum. These latter crypto coins can be bought at virtually all exchanges as well as through Bitcoin ATMs and payment apps such as Cash App and PayPal. Or they can be bought at a number of the top brokers for cryptocurrency.
Still, Cardano can be bought and sold at a number of locations, including the following.
Trading apps such as Robinhood and Webull provide access to many cryptocurrencies, opening up the coins to traders who don’t want to open a specialized account at a…
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