Are you considering buying Cardano in 2021?
Cardano is a popular coin with use cases that have been fitted to solve real-world problems. Specifically, Cardano is a proof-of-stake blockchain platform that simplifies identity management and tracing. Its blockchain also supports a self-executing smart contract platform that enables the development of a wide range of new crypto tokens, decentralized finance apps, games, and more.
In addition to that, Cardano is one of the few cryptocurrencies that features scalability and speed without compromising on security, thanks in part to its layered architecture.
If you want to know how to buy Cardano in Australia, but have no clue where to start, this guide will cover easy and simple steps to do so, such as:
- Where to buy Cardano?
- Which countries can you buy Cardano?
- What’s the best beginner-friendly platform to buy Cardano?
- How much does it cost to buy Cardano?
We’ve assessed and conducted extensive research on the things you need to know when looking for the right crypto exchange in Australia. This includes security, customer support, payment methods, and deposit fees.
Whether you’re a beginner looking to buy Cardano as your first cryptocurrency, or a novice who has positions in other cryptos already, here’s all you need to know when it comes to buying Cardano in Australia.
Common Questions about the Cardano Cryptocurrency:
Where can I buy Cardano?
The most beginner-friendly and trusted cryptocurrency exchange platform we recommend is Swyftx. It’s a crypto exchange with a user-friendly interface that is easy to navigate, making it perfect for beginners or anyone who has never traded before. It also lists Cardano as one of its tradable currencies on the platform.
Swyftx is available in a few regions: Australia, New Zealand, Canada, and Ireland to name a few. Here are some of the features you’re guaranteed in this platform:
- 270+ crypto coins to buy and sell
- Live chat support
- TradingView charts
- Real-time price feed
- AUD deposit & withdrawals
Swyftx is also known to have 2x cheaper trading fees and 4x lower spreads from other major platforms.
Aside from Swyftx, other common crypto exchange platforms include Binance and Coinbase. On those websites, you can also select a wide range of cryptocurrencies to buy, sell, and trade.
Can you buy Cardano on Coinbase?
Coinbase is a popular crypto exchange platform that’s considered one of the safest ones out there. Since March 2021, Coinbase has allowed customers to buy and sell Cardano.
Payment methods to purchase ADA on Coinbase include debit card, SEPA, wire transfer, and credit card like VISA.
How can I buy Cardano safely?
With the safety and security of your funds in mind, there are a few tips for buying Cardano with confidence in Australia:
- Choose an exchange that is beginner-friendly like Swyftx to make it easy on yourself. Look at user reviews from other users to see whether the site is reputable and reliable. You can also read about its security practices to make sure you’re trading securely.
- Sign up for an account. You will need one before you can buy cryptocurrencies like Cardano, Bitcoin and Ethereum.
- Verify your identification. You’ll have to present and upload a scan of a valid ID, your physical address, and your date of birth.
- Once you’ve been verified, deposit funds via bank transfer, debit card, or credit card. In Swyftx, you can deposit AUD currency directly to the platform.
- Choose your desired payment method.
- Filter the list and search for Cardano or ADA. Select the coin and enter the amount you’re about to buy.
- Confirm the transaction. After a few minutes, Cardano will be reflected in the platform wallet.
Once you’re done, you can transfer your Cardano to a wallet outside of the exchange or hold it in the platform where you purchased it—up to you.
Where is the best place to buy Cardano?
Here are some exchanges where anyone can buy Cardano online.
For those who want to trade Cardano in Australia, Swyftx is an exchange in Australia that can fit the bill. The trading platform has lower spreads and as much as twice as low fees than its competitors. Account verification takes only two minutes as it doesn’t need you to upload anything—making Swyftx a highly convenient, on-the-go platform for your cryptocurrency needs.
- 24/7 Customer support
- 270+ cryptocurrency listed
- Good market rates due to high liquidity
- Dollar averaging automatic recurring purchases
CoinSpot was founded in 2013 and has built up a solid reputation as a highly-trusted and secure Australian cryptocurrency platform. This crypto exchange helps guide beginners buy cryptocurrency and Cardano (ADA) with AUD, making it one of the easiest and most convenient places to purchase ADA in Australia.
- The only Australian exchange that meets ISO security standards
- 200+ cryptocurrencies listed on the platform including Bitcoin
- Available customer support 24/7
- Independent Reserve
Independent Reserve is an Australian cryptocurrency exchange that makes trading easy and efficient. They offer competitive rates on trades, support for traditional fiat currencies like US Dollars and New Zealand dollars, as well as a wide range of deposit methods. These payment options include EFT, POLi, PayID or SWIFT transfers as a way to fund accounts.
- Tier-based fees—better rates for higher
- Funds are secured by an insurance company
- 24/7 customer service
Which country can buy Cardano?
You can buy Cardano in most countries depending on your available exchange platform. This includes the United States, Canada, Asia, South America, and Europe. If you’re in Australia or New Zealand, you can purchase ADA on cryptocurrency trading platforms like Swyftx.
If you’re from other parts of the world, research the available crypto exchange platforms you have available. Chances are, the Cardano token is listed and tradable on most reputable trading platforms.
How much does it cost to buy Cardano?
There are hundreds of public blockchain exchange platforms with different fees. While the market rate is steady between these exchange websites, it can cost you more to deposit and withdraw from one site versus another based on transfer and deposit fees.
Swyftx has one of the lower transfer rates we found among all the exchange platforms. You can look at the current price of Cardano directly on the Swyftx website.
How do I buy ADA with AU?
If you are in Australia and want to buy ADA, we’ll show a step-by-step guide on how to do it with as little worry as possible for your Cardano purchase.
Before you buy any digital assets, you should already have a digital or physical wallet first as a place to safeguard your digital currency. Each exchange has its own cryptocurrency wallet, but they’re at risk of being compromised, so your best course of action is to withdraw your crypto and store your private keys and crypto securely offline through a hardware wallet or other means.
Here’s how to buy the best cryptocurrency ADA with AU dollars as a beginner.
Step 1: Register your account with Swyftx. Click on the “Signup” page on the homepage and fill in your relevant information. This includes your email, a secure password, your name and your phone number. Agree to the Terms & Conditions and click “Create my Account.”
Step 2: Get your exchange account verified and enable two-factor authentication. This is a security measure. Click your ‘Profile’ which you can find on the left side of the sidebar. Then, go to “Verification” where you’ll see the email, phone, and ID.
You’ll have to install the Google Authenticator App and input the code to activate the MFA. You’ll also have to enter the token that pops up after a QR code scan. Follow the respective instructions on each item and once all parts are ‘Verified’, proceed to the next step.
Step 3: Deposit Aud Funds: Next, you can deposit your money. Click ‘Deposit’ on the left sidebar under ‘Trade’. There you can choose the amount of Australian Dollars (or USD and EUR if you’re from the US or Europe respectively) that you plan to deposit. On the same page, your payment range includes PayID for instant transfer and BPAY for same-day transfer alongside the other traditional methods.
Step 4: Buy Cardano. After you’ve verified your account and deposited some fiat money, it’s now time to buy ADA. Go look for the ‘Trade’ sidebar and look under the ‘Assets’ menu. There you can see a list of cryptocurrencies that you can buy. Using the search bar, search for ADA, input the amount you’re willing to deposit and trade your funds for the Cardano cryptocurrency by clicking Instant Buy.
Once you’ve completed the following steps, you’ll have Cardano in your Swyftx wallet and it’ll also be reflected in your payment history. Mission accomplished—you’ve just purchased ADA using Australian dollars!
What is Cardano?
Cardano is an open-source blockchain-based project built to deliver more advanced features than any other protocol so far released. Founded by Charles Hoskinson, the co-founder of Ethereum, Cardano offers scalability for smart contracts and higher levels of privacy.
Cardano vs Ethereum — What’s the Better Cryptocurrency?
To begin with, Cardano has the same potential as Ethereum since it uses smart contracts in its blockchain platform. Cardano also has an improved approach to cryptocurrency with a unique consensus mechanism.
The Proof-of-Stake or PoS algorithm means that the more ADA coins you own, the more transaction confirmation rights you’ll have.
What this means is that all the users who own ADA can not only be a user of the digital currency but also participate in its management. This is an improvement over Ethereum’s Proof-of-Work or PoW, which necessitates expensive mining hardware and consumes lots of energy thereby limiting how many transactions per second it can process.
Do exchange platforms also allow you to buy Bitcoin (BTC)?
Yes, they do. You can find them listed in most cryptocurrency trading platforms like Swyftx, Coinbase, and Independent Reserve.