Hello guys, I am finding this is incredibly complicated to purchase (ADA) for the newbie like me so I saw this article from getcrypto and it is quite interesting and would like to share some of my ways ( Edited) to purchase (ADA).
There are three parts to this guide (Scroll down to skip them): Setting up a Cardano wallet, buying Ethereum and then exchanging Ethereum for Cardano.
1: First, we need to set up a wallet to store the Cardano (ADA) you’re about to buy.
Go to the download site for the open source cryptocurrency wallet for Ada (Daedalus)
Choose the file that works for your computer and downloads it.
Once it has downloaded, install the program.
2: Run the program. It will be called ‘Daedalus’ on your computer.
Select your language and press ‘Continue’.
You’re given the option to send logs to the developers of Daedalus regarding your usage of the wallet. Choose if you’d like to or not.
The wallet will now sync with the Cardano blockchain. Be patient as this can take some time (in my experience about (4 and half Hours).
3: Once the sync has completed the program will be fully operational.
Press ‘Create a new wallet’.
Give the wallet an obvious name, for example ‘My Cardano Wallet’.
Press ‘Activate to create password’.
This will open some input boxes. Enter a strong password (that you won’t forget!). It needs to be at least 7 characters long, and have at least 1 uppercase, 1 lowercase letter, and 1 number.
Press ‘Create personal wallet’.
4: You will be informed that you’re about to get a recovery phrase.
Tick the box to confirm no-one else is watching your screen right now.
You will be given a 12-word phrase.
It’s very important that you write this down correctly and keep it somewhere very safe. You’ll need it to open your wallet in future. If anyone gets a hold of this phrase they can open your wallet and take your coins. ( PLEASE THIS IS VERY IMPORTANT)
Once you’ve secured your passphrase press ‘Yes, I have written it down’.
5 You will be prompted to recreate your passphrase using the words provided. Click the words in the order they appear on your stored passphrase.
Once you’ve done so, you will be given two warnings that you have to click to agree that you understand. Make sure you read these warnings and understand them.
6: Once you do, press ‘Confirm’.
7: Your wallet is now open.
You will be given your wallet address. It looks like a long string of numbers of letters. Copy this address somewhere safe as we’ll need it soon.
8: Now we’ll purchase the popular cryptocurrency Ethereum so that we can exchange it for Cardano (if you already own Ethereum you can skip ahead).
Choose which Ethereum exchange you’d like to use (by clicking on the logo), and the guide will continue:
Operates in 32 countries.
Accepts debit & credit cards and bank transfers.
Can have low buy limits at first, increases with use.
ID verification required.
9: If you use this link to sign up to Coinbase we’ll both receive ten dollars of free coins when you spend over $100 (or the equivalent in your currency).
If your country is not supported by Coinbase
Worldwide coverage, 99% of countries.
Accepts local bank transfers.
Purchase ETH/BitCoin directly from the trader.
ID verification is not required.
If you use this link to sign up, I will earn a meal from you!
10: Press the ‘sign up’ button and fill out your name (make sure this is exactly how it’s written on your photo ID), email, password and location.
Just like a US bank, Coinbase is regulated by the US government and has to follow strict financial rules. So they take verifying your identity very seriously. It’s a pain, but it does give Coinbase a reputation for being the most trusted way to convert fiat currency to cryptocurrency.
To verify your account you must supply a phone number, upload an image of your photo ID and verify a credit/debit card or bank account before you can buy.
Note: If you have problems verifying your ID using your computer, try downloading the Coinbase app (on iPhone or Android), signing into your Coinbase account and verifying your ID using your phone camera.
11: Using a credit/debit card on Coinbase means higher fees but offers instant purchasing. Using a bank transfer is cheaper but slower (taking up to a week to get your coins).
Once your payment details are verified, click ‘buy/sell’ on the top menu.
Select ‘Ethereum’, and at the bottom of the page choose how much to spend in your local currency / how many coins you want to buy.
Once you’re happy with the amount, click the big ‘Buy’ button.
12: You’ll be asked to confirm your purchase.
Press the ‘Confirm Buy’ button.
Congratulations! You now own some Ethereum. But don’t close Coinbase yet, we’re going to need it again in a few minutes.
13: We’ll use the site Binance to exchange your Ethereum for Cardano. ( You may use Bittrex as well)
Please use this link to go to Binance (Referral Program) to earn me a meal, and click ‘Register’ on the top right menu.
14: Enter your email and a strong password (that you won’t forget!).
15: You will be sent an email to confirm your email address.
Click the link in the email.
16: You will be taken back to Binance as your email is confirmed.
On the login form, enter the email and password you just used to sign up, then press ‘Login’.
17: A pop-up will advise you to set up 2two-factor authentication) on your account.
We strongly advise you to do this- in the event, a hacker manages to get hold of your password, this second level of security makes it very unlikely they will be able to get into your Binance account.
We recommend using the Authy app on your mobile phone or web browser.
18: Hover your mouse over ‘FUNDS’ on the top menu and click on ‘Deposits Withdrawals’.
This screen displays any coins you have stored on Binance- obviously none at the moment.
Type ‘Ethereum’ in the search box.
This will narrow the wallets displayed to just a few- in those, find Ethereum.
You will be given an Ethereum deposit address (a long string of numbers and letters).
Copy this address and keep it somewhere safe as we’re going to need it soon.
Note: Double check you’ve actually selected Ethereum (ETH)- if you send your coins to the wrong wallet you will lose them.
19: Now, return to Coinbase.
Click ‘Accounts’ from the top menu, then find your Ethereum wallet listed on the left.
20: In the ‘Recipient’ box, paste the Ethereum wallet address we just copied from Binance.
In amount, type how much Ethereum you wish to send (there is a ‘use max’ option if you wish to send it all).
Coinbase may ask you to confirm with your password/phone. Follow the instructions until it confirms the Ethereum are sent.
21: Now we’ve got to wait a few minutes for the coins to move across the network.
Unless there’s an unusually large network backlog, the coins will take between 20 and 60 minutes to appear in your Binance wallet.
Binance will update automatically so there’s no need to refresh the page.
While you’re waiting, consider sharing this guide with your friends and followers to spread the word about Cardano, encouraging its popularity and value to grow.
Here are some share buttons to make it easy:
22: Once the Ethereum shows in your ‘available balance’ we’re ready to trade for Cardano.
Click here to jump straight to the ADA/ETH exchange market on Binance.
23: The exchange page can look overwhelming at first but don’t worry, we’re only going to use a small part of it.
There are two ways of buying coins:
A ‘Limit’ order, which lets you manually set the price at which you want to buy ADA.
A ‘Market’ buy, which fills your order automatically at the best price available.
As market buy is the simpler of the two options we’ll go with that.
Look for the big green ‘Buy ADA’ button.
Above it, click the ‘Market’ option.
In the input box marked ‘Amount’ you now need to fill in how many ADA you’d like to buy. It may be easier to use the percentage buttons below the input box- for example, press 50% if you’d like to exchange 50% of your Ethereum for ADA.
When you’re happy with the amount, press the buy button.
Your order will be filled immediately.
24: Press ‘Funds’ along the top menu, then ‘Deposits Withdrawals’.
In the search box, type ADA. You will now see your new ADA in your ADA wallet.
25: If you’re comfortable with it, you could just leave your coins on Binance and they would probably be safe. However, exchanges have been hacked in the past, and people have lost coins, so I would recommend you keep them in a personal wallet. Here’s how:
Click the ‘Withdrawal’ button.
In the boxes that appear, fill in this information:
Label: Write ‘My wallet’
Address: Put the wallet address that you copied from Daedalus wallet (in step 7).
Amount: Press the ‘Max’ button to send all your ADA.
Once you’re sure all this information is correct (double check you’ve inputted the correct wallet address!), press ‘Submit’.
If you’ve set up two-factor authentication, you will be asked for a code from your phone. Enter it and press ‘Submit’.
You will be sent an email to confirm the withdrawal.
Go to your email and click the link that has been sent to you.
26: Now you have to wait for the Cardano (ADA) to travel from Binance to your wallet.
Press ‘Summary’ in your Daedalus wallet. Once your coins arrive they’ll appear in your balance.
27: What about when you’re ready to sell your Cardano?
You simply reverse the order of tasks you performed in this guide.
For example, you send your Cardano to Binance, exchange it for Ethereum, send that Ethereum to Coinbase and sell it for your preferred currency
Remitano : (https://www.binance.com/?ref=28227986)
Binance : (https://www.binance.com/?ref=28227986)
Coinbase : (https://www.coinbase.com/join/5a1dd68841a08800f5425cce)
Any donation will be appreciated!