Why is buying Cardano so hard?

Cardano is a cryptocurrency network and open-source platform that uses the Outboros proof-of-stake technology to provide a more secure blockchain that is less prone to tampering. Cardano’s underlying technology also allows developers to execute end-to-end tests on their programs without deploying the code. The goal of the Cardano network is to create and run a public blockchain platform for smart contract-derived applications.

Cardano’s system runs on its underlying coin — Ada, which is traded on major exchanges and holds value. If you’re passionate about the Cardano network project and its technology, investing in the Cardano coin can be an excellent way to both support the project and potentially earn money if the price of the coin rises in value as interest increases.

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Expand your token holdings beyond Bitcoin and Ethereum with Cardano. Our guide can show you how to buy Cardano and help you determine where and how you should store the coins you purchase for maximum security.

Step 1: Open an online account.

The 1st step to purchasing Cardano is to open an account with a crypto broker that supports the Cardano token. After creating and funding your account, you’ll instruct your broker to use your fiat funds to purchase the tokens you’re interested in using an order.

Opening an account with a crypto broker is very simple. To get started, gather a bit of your personal information. When you 1st open your account, you’ll usually need to provide:

• Your full legal name
• Your current address
• An email address and phone number
• Some form of payment method to fund your account (most brokers support both credit cards and direct banks transfers)
• A copy of some form of photo ID (most brokers accept driver’s licenses and passports)

Step 2: Buy a wallet (optional).

After you open your broker account, you’ll need to select a wallet to store your cryptocurrency on. While you can store your crypto on your broker’s trading platform, keeping your coins in a private wallet will greatly decrease the possibility of losing money to a hack.

Step 3: Make Your Purchase

Once your account is open and your wallet is set up, it’s finally time to purchase Cardano. You’ll purchase Cardano by placing an order through your broker using its unique trading platform.

Most brokers allow you to choose between multiple order types, and the order type you choose when you place your order will determine how much you’ll pay for each coin that you purchase.

Trade or Sell Your Cryptocurrency

After your order closes, you’ll need to decide whether you want to become an active cryptocurrency trader or if you want to hold onto your coins and sell them at a later date. If you want to trade your cryptocurrency, keep track of how the Cardano market is moving and convert it to a stablecoin (like Tether) when the price rises.

Most cryptocurrency traders then hold onto their stablecoin until the price of Cardano falls again. The goal of trading is to accumulate more Cardano coins or to cash out the differences in their stablecoins.

If you decide to hold onto your Cardano, you should move your coins to a cold storage wallet. This provides you with private keys necessary to access your coins and prevents the possibility of a hack. When you decide to sell your coins, transfer your coins from your cold storage back to your trading account and convert them back to fiat currency.