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3 Ways to Buy Cardano – What Are Your Options?

 


What is Cardano?

At Cardano (ADA) we speak of a blockchain network, which is characterized by a combination of scalability, security and decentralization. What is special about Cardano is that the blockchain developers work together with scientists to further develop the Cardano blockchain according to evidence-based standards. 


Cardano's network token is the ADA. It is used for network communication, payment of transaction fees, and staking. Cardano is often referred to as the "Ethereum killer" because the network is considered technically excellent, extremely efficient and secure and can also be the basis of decentralized applications.


Why could Cardano become so successful in the long term?

Among the cryptocurrencies, Cardano is considered the project that has the highest potential in the long term. Cardano should become one of the most important and advanced cryptocurrencies in the next few years due to its further development, which is long-term and is being promoted with scientists. Many Cardano fans believe that Cardano should replace Ethereum sooner or later. 


The further development of Cardano takes place in 5 major phases, which are shown in the roadmap . In 2021, smart contracts were introduced, which caused the price of the ADA token to rise extremely. Back then, investors really wanted to buy Cardano and hoped that Cardano could soon become a competitor for Ethereum in decentralized applications. 


Cardano

In the future, Cardano is working on increasing the scalability of the network, which should give the price of ADA another boost in the future. Therefore, it might be worth buying Cardano right now for the future.


How has the Cardano (ADA) price moved in the last few months?

In the last 12 months, after an all-time high in September 2021, we saw a sharp drop in price. At that time, the ADA price rose above 3 dollars. As a result, we saw a strong price drop over the turn of the year and in 2022. This was mainly due to the onset of the bear market . 

At the beginning of July, the ADA price finally fell to $0.42. Cardano lost over 85% of its all-time high within 10 months. The percentage of losses was about as high as that of other altcoins such as Ethereum or Solana. During July we saw a slight bounce back above $0.50.


Where can you buy Cardano?

If you now want to benefit from the favorable rates of the ADA token and buy Cardano, you have the following options:


1. The crypto exchange

If you want to buy cryptocurrencies like Cardano, you should use the crypto exchanges first. These special trading places specialize in buying and selling cryptocurrencies and offer a wide range of cryptocurrencies. 


On crypto exchanges, you have the option of exchanging FIAT currencies such as the euro or US dollar for cryptocurrencies such as Bitcoin, Ethereum or Cardano. You can also exchange cryptocurrencies with each other on these exchanges. Most major crypto exchanges have over 100 different cryptocurrencies to choose from.


Another great advantage of crypto exchanges is the different features that you have to choose from on these exchanges. For example, you can not only buy Cardano, but also stake the ADA token. Staking makes it possible to earn rewards in the form of tokens and thus a regular income even in a bear market.

2. Broker

Brokers are trading platforms for various financial products. They have historically offered numerous different financial products such as stocks, forex, currencies, indices and commodities. In recent years, these platforms have also included the cryptocurrencies on their trading platforms. 


The crypto brokers have the advantage that you can invest in other financial products at the same time as crypto currencies. Often you cannot invest directly in cryptocurrencies on such platforms, but only in cryptos in the form of CFDs. These are contracts for difference that allow investors to participate in crypto price movements. Investors can also use leverage, which some investors appreciate as an additional opportunity when investing.



3. Buy Cardano from friends / acquaintances

Another way to buy Cardano is to trade with friends, acquaintances or other people you trust. In doing so, you can enter into an agreement with a person you trust that you will offer that person FIAT currency or other means of exchange in exchange for the ADA tokens they hold. You can also get paid for a specific job with cryptocurrencies like Cardano.


The transfer of cryptocurrencies takes place via the transfer from the Cardano address of your exchange partner to your own Cardano address. It is worthwhile for you to have a good and secure Cardano wallet to which your ADA tokens can be transferred. In this article we name the best Cardano wallets on the market. 


We have to mention that personal trading should only be done with people you can really trust. Pay attention to Cardano's current market price to ensure fair trading for you and your exchange partner! 


Is it worth buying Cardano now?

With Cardano’s current low prices, it’s particularly worth buying Cardano’s ADA token at the moment. At the latest in the next bull market, the value of the ADA token should increase massively again. For long-term investors, an investment is particularly worthwhile at the moment.

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