So what would be the best ways to buy cardanos?
I am finding this all incredibly complicated.
My uninformed thoughts were I’d download the wallet (which in itself was a challenge) - then buy some ADA/CARDANO (which I think are the same?).
However, my current understanding (and anyone please correct me if wrong) is you need to:
- Download another Wallet
- Then go to an exchange where you can buy Bitcoin (or the other two major Crypto currencies)
- Put this in your wallet?
- Go to another exchange to trade Bitcoin for Ada
- Then once you have Ada get this into your Deadalus wallet.
This is the way I buy Cardano. This is not to say that it is the best.
Go to Coinbase. Exchange FIAT to ETH. Send these to your account on Bittrex. On Bittrex you can buy Cardano for ETH.
The process is a little long. But well worth it
This is how I buy ADA too. It works but is slow.
I have seen some people say, but have not had time to check, you can save the transfer fee from Coinbase to Bittrex by using GDAX which is owned by Coinbase.
So the new process is one additional step and a potential transfer fee savings.
- Go to Coinbase
- Exchange FIAT for ETH
- Send ETH to GDAX (uses the same login creds as Coinbase)
- Send ETH from GDAX to Bittrex saving a transfer fee.
- On Bittrex trade ETH for ADA.
Fair-warning I haven’t completely confirmed this but have read this process in several different places. Please correct me if I am wrong and I’ll fix this post.
Update: From GDAX support site.
Deposits and Withdrawals
Crypto Deposit: Free
Crypto Withdrawal: Free
Noted above is a specific process I use and others do too. Cardano is a technological platform and home of the cryptocurrency ADA.
In general the process of buying, selling and trading ADA is through the use of digital currency exchanges. The process will vary but its basically the same for most all crypto currencies. Each digital currency (ADA, LiteCoin, XMR) will have an associated wallet.
Youtube if filled with videos on this very subject and much more.