Cardano is a bit different from Bitcoin and other cryptocurrencies.
The Cardano is designed from the ‘ground up’ to provide a much safer and workable blockchain platform that efficiently guards user privacy while allowing for necessary rules.
Furthermore, the platform is created by academics and scientists who realize the demands of this competitive marketplace.
However, investing in Cardano is a bit tricky as it needs some extra steps as compared to trading for others.
So let's break down the process to show what you need to do if you want to invest in Cardano.
How do you buy Cardano?
Follow this process to invest in Cardano.
Open an online exchange account.
When investing in Cardano, you need to open an account with any reliable crypto exchange that allows Cardano’s ADA coin trading.
Opening a new account with a cryptocurrency exchange or broker is straightforward.
All you need to do is submit your personal information. Account opening requirements differ from exchange to exchange, but some general documents that you may have to provide are:
Your legal name
Your current residential address
Your email address and contact details
Your payment mode to deposit funds in your account (most exchanges accept payments via credit cards and wire transfers)
Proof of identity
Your Social Security number
If you’re buying Cardano as an investment, we advise you to protect your funds by storing them in a cold wallet where you manage the things via a private key.
After purchasing ADA, usually, it is kept in an exchange wallet and doesn’t give you the private key.
This is simple but leaving it on the exchange wallet makes it less secure and susceptible to hackers.
Now Invest in Cardano
Now that you have an exchange account and have finalized a place to keep your funds and coins, it’s time to purchase Cardano.
To do this, just go to the Cardano page on your exchange’s website and buy the coins.
Invest in Cardano through our DeFi Inrastructure Fund
As opposed to going through the rigmarole of dealing with exchanges and storing your assets safley, you can invest in our fund which gives you exposure to Cardano along with a plethora of other important and top quality cryptocurrencies.
All you need is a photo ID and a bank account. You can invest from as little as €10 via ICONOMI.
Best Crypto Wallets for Cardano
If you decide to go it alone, crypto exchanges are relatively safe, but you shouldn’t store your digital assets in the exchange’s wallets, as they carry the risk of being attacked by hackers.
To alleviate this risk, you can use a dedicated wallet to store your digital assets. The two common crypto wallets types are hardware and software wallets.
Software Wallets For Cardano
You can use Software crypto wallets for free, and one can easily download them on smartphones or desktop PCs. Software wallets are generally safe and simple to use, even for beginners.
Coinbase wallet is a good example of a secure software wallet.
Hardware Wallets for Cardano
Hardware wallets are the safest way to store Cardano or other cryptocurrencies.
These wallets store your digital assets offline; in this way, it is almost impossible for online hackers to steal your funds. If you are looking for one for your Cardano,
Examples of hardware wallets include Ledger Nano and Trezor wallets. They look like USB drives but are fundamentally important if you choose to invest as an individual.