Welcome to the complete beginners guide!
Here, we cover the topics that will let you hit the ground running:
Where to buy ada
How to buy ada
If you'd like to learn more about cryptocurrency and how it works before you purchase, visit our learning page here. Otherwise, let's get started!
Where To Buy Ada
You can buy ada the same place you can purchase any other major cryptocurrency: an exchange. The two major exchanges that we recommend are Coinbase and Binance. Coinbase is more beginner friendly but has higher transaction fees. Binance has more security features and lower transaction fees but is more difficult to set up. Visit the exchange of your choosing and set up your account.
Note: If you are outside of the United States and choose Binance, you'll want to set up an account at https://binance.com.
After setting up your account, you'll need to connect a bank account. After that, you're ready to buy some ada!
How To Buy Ada
To make sure this is always the most up-to-date, we'll link to Coinbase's documentation for this and add a couple of notes: How do I buy cryptocurrency?
After selecting Buy, search for ADA or Cardano to select it from the options.
If you've already added funds to Coinbase from your bank account, it will still default to pull more funds from your bank account when buying. Be careful to choose the cash that you've already added if you don't want the amount withdrawn from your bank twice!
Again, we'll link to Binance's documentation so that this remains up-to-date: How to Buy & Sell Crypto on Binance
When selecting the coin to buy, search for ADA or Cardano to find it in the list.
This will not be a comprehensive list, however we think it's important to be aware of these basics in order to protect your ada.
Never share your recovery phrase or mnemonic with anyone! It is used to restore your account and anyone who has it has access to transfer your funds wherever they'd like.
Use a password that is unique for your Coinbase or Binance account. The password should not be used for any other accounts that you own. A long passphrase is recommended unless you have a password manager and can create a random, complex password. An example of a passphrase is: I was hit by a big red ball at the age of 3 and have never been the same since!
Ensure that multi-factor authentication is enabled on your Coinbase and Binance accounts. Use an authenticator app such as Google Authenticator or Authy. DO NOT use SMS or phone calls. These are not considered a secure option.
That's it! You are now a proud owner of cryptocurrency. In the next section, we'll teach you how to completely secure your ada. We go well beyond the basics covered above. Click here to continue...