Cardano (ADA) is a popular choice among crypto investors looking for projects with high long-term potential. As of this writing, it is the fifth largest cryptocurrency in the world. cryptocurrency in terms of market cap. Unlike market leaders Bitcoin and Ethereum, Cardano does not require a lot of energy, making it a cryptocurrency of choice.

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1. Find a cryptocurrency exchange that sells Cardano.

Start by selecting a crypto exchange where you can buy Cardano. Since Cardano is one of the biggest currencies, there are a lot of cryptocurrency exchanges going on. best cryptocurrency exchanges sign up. Here are some of the most popular cryptocurrency exchanges and investment platforms that have Cardano:

The two most important things to look for in a crypto exchange are security and reasonable fees, which all of these platforms offer. See the article: All about the price of Solana, Ethereum & Bitcoin in September 2021.

For beginners, Coinbase is a great choice because of its user-friendliness. It doesn't take long to learn how to trade crypto using Coinbase, and there's plenty of educational content available as well.

2. Open an account

You need an account on your chosen exchange to buy crypto. The registration process depends on the exchange, but most have a button that says "Get started", "Register" or "Sign up".

Stock exchanges generally ask for the following information to open an account: On the same subject: Carmat Action Notice: is it recommended to buy ALCAR shares at the current price?.

The exchange may ask you to set up two-factor authentication. With this feature, you have to go through two levels of security when logging into your account. For example, instead of just entering your password, you will also need to enter a code sent by the exchange to your email address or phone number.

Even though two-factor authentication is not required, it is worth setting up on your account for better protection.

3. Verify your identity

After creating your account, it's time to verify your identity. Cryptocurrency exchanges must do this with their customers to confirm their identity and prevent illegal activities, such as money laundering.

Again, the exact process depends on the exchange, but be prepared to provide the following:

4. Plan your investment strategy

The best approach with cryptocurrencies is to treat them as a long-term investment. And if you want to treat them like an investment, it helps to have a strategy. You can plan your crypto investment by answering a few questions.

Here is an example of an investment strategy: I plan to buy $250 of Cardano every month. I'm going to hold it for at least five years, but if the price triples by then, I'll withdraw my initial investment to make sure I don't lose any money.

It's just one option, and your strategy can be as simple or complex as you want. By having a plan in place, you don't have to worry about what to do every time the price of Cardano goes up and down.

5. Make your Cardano purchase

Check which payment methods the cryptocurrency exchange accepts and the fees for each. These are the most common payment methods:

Most major exchanges allow you to deposit cash from a bank account for free. You still pay transaction fees when buying crypto, but it ends up being cheaper than other payment methods. With debit cards, credit cards, and PayPal, you pay more fees on your crypto purchase. Keep in mind that the transfer process from a bank account can take a few business days.

Once you have the funds in your exchange account, choose the amount of money you want to spend on Cardano. The exchange will show you an overview of the transaction with the fees and the amount of Cardano you will receive. If everything looks correct, confirm the purchase.

After doing this, the Cardano you purchased should be available in your account within seconds. The last thing to consider is transferring your Cardano to a crypto wallet. Since cryptocurrency wallets offer more security, they are a popular way for investors to protect their coins.