Cardano has been on a wild ride over the past 18 months, rocketing to an all-time high in August 2021 before losing over 69% of its value in the months that followed. However, even though ADA has undoubtedly had a tough time of late, there are still plenty of reasons to be optimistic about the coin’s future.

This guide will take an in-depth look at how to buy Cardano in the UK, and the coin’s features and value potential, before showing you where you can invest in ADA today – with low trading fees.

How to Buy Cardano UK – Quick Steps

  1. Open an account with eToro: Navigate to eToro’s homepage and click ‘Start Investing’. Follow the on-screen instructions to create an account and then upload photo ID and proof of address for verification purposes.
  2. Deposit: Fund your account with at least $10 (£7.60) via debit card, bank transfer, or e-wallet.
  3. Search for Cardano: Type ‘Cardano’ or ‘ADA’ into the search bar and click ‘Trade’ when the coin appears.
  4. Buy: Enter your position size in the order box (minimum $10) and click ‘Open Trade’.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Where to Buy Cardano in the UK

Buying cryptocurrency in the UK starts with a top-rated and trusted crypto broker or exchange. Keep reading as we discuss the best options for you to pick from in 2022.

Before exploring what ADA is and the coin’s features, let’s discuss where to buy Cardano in the UK. Due to the coin’s popularity, most of the best crypto exchanges now offer it as a tradeable asset, making it easily accessible.

With that in mind, reviewed below are four of the best platforms to buy Cardano in the UK, all offering a safe and user-friendly trading experience:

1. eToro – Overall Best Platform to Buy Cardano in the UK

etoro reviewOur number one pick for investors looking to buy ADA in the UK is eToro. eToro has a stellar reputation within the crypto trading scene, driven by the platform’s high level of security and low trading fees. Users can trade over 50 different cryptocurrencies and benefit from regulation through the FCA, ASIC, CySEC, FinCEN, and FINRA. This means you can buy Bitcoin in the UK and other popular altcoins with low fees and tight spreads.

eToro recently changed its fee structure to be more transparent, now charging only a 1% fee on buy and sell positions (plus the spread). This remains the same across the board, with eToro also allowing trades to be opened from $10 (£7.60). There are also no monthly account fees or deposit fees, making the entire process extremely cost-effective.

eToro crypto trading

UK-based traders will have to pay a currency conversion fee when depositing in GBP, although this amounts to only 0.5% of the funding amount. In terms of payment methods, eToro accepts debit cards, bank transfers, and a selection of e-wallets – including PayPal, Skrill, and Neteller. The minimum deposit amount is also only $10 (£7.60), which is ideal for beginners.

eToro is also regarded as one of the top social trading cryptocurrency platforms thanks to its helpful ‘CopyTrader’ feature. This feature allows users to automatically copy the trades placed by other eToro users, thereby automating the trading process. Finally, eToro even provides a free demo account with $10,000 in paper money, which is great for people learning the market for the first time.

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

2. Crypto.com – Rapidly-Growing Crypto Platform with Useful Features

crypto.com logoAnother option if you’re researching where to buy ADA in the UK is Crypto.com. Crypto.com is one of the fastest-growing crypto trading platforms around the globe, boasting over 10 million users. Users can trade over 250 different cryptocurrencies, including a selection of the best altcoins, DeFi tokens, and meme coins.

Crypto.com offers a web-based exchange platform or a mobile app to trade on, with the former targeted towards experienced investors. Users only have to pay a 0.4% maker/taker fee when trading on the exchange, which can be reduced by 10% when paying these fees in CRO (Crypto.com’s native token). Traders who opt to use the app can buy crypto instantly using a credit or debit card – with transaction fees waived for the first 30 days.

crypto.com review

UK-based traders can also make free deposits into their FIAT wallet, with the funds able to be used for cryptocurrency purchases. Crypto.com even offers one of the best crypto credit cards, with various benefits depending on which tier you opt for. Finally, Crypto.com users can even utilise the ‘Crypto Earn’ feature and generate up to 14.5% interest on specific coins.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Coinbase – Best Place to Buy Cardano in the UK for Beginners

coinbase logoCoinbase is one of the best Bitcoin brokers UK and is ideal for beginners looking to buy Cardano in the UK. The platform’s e-money services are regulated in the UK by the FCA, providing a level of direct investor protection. In terms of trading, Coinbase offers over 90 different coins to invest in (including ADA), making it easy to create a diversified portfolio.

Users can trade on Coinbase Pro, the platform’s exchange service, or the regular Coinbase account, which is targeted at beginners. When trading on Coinbase Pro, users must pay a taker fee of 0.6% or a maker fee of 0.4%. On the other hand, the regular Coinbase account will charge a ‘Coinbase Fee’ plus the spread, with the former varying wildly depending on your transaction volume and payment method.

coinbase review

The user experience at Coinbase is exceptionally user-friendly, with the mobile app featuring a sleek interface and easy-to-understand data points. The app also has a dedicated market news section and portfolio analysis tools, ideal for optimising the trading process. Finally, users can also secure their accounts with two-factor authentication (2FA) to significantly increase the security level.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Binance – Popular Crypto Exchange with Low Trading Fees

Rounding off our list of the best places to buy Cardano in the UK is Binance. Binance needs no introduction as the exchange is currently the world’s largest, as measured by daily trading volume. Users can trade over 500 crypto assets using the web-based trading platform or the mobile app, including altcoins, DeFi tokens, and crypto-to-crypto trading pairs.

Binance only charges a 0.1% transaction fee on either side of the trade, making it one of the cheapest places to buy ADA. However, users can also opt to purchase crypto instantly using a credit or debit card, although this can attract a fee of up to 3%. Binance even offers a selection of derivatives markets and P2P trading options, which greatly increase flexibility.

binance review

The trading experience at Binance is exceptional, with the web-based platform offering real-time price charts, various technical indicators, and even market depth information. Binance also has an excellent reputation thanks to its crypto staking feature,  which provides locked and unlocked options. Finally, there’s even a ‘Binance Earn’ service that acts as a crypto bank account, with APYs of over 20% offered on certain coins.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

What is Cardano?

cardano logoNow that you’ve got an overview of where to buy ADA, let’s focus on what the coin is and how it works. Cardano was considered one of the most undervalued cryptos for years yet sprung to prominence over the past 18 months. But why was this, and what makes Cardano so different?

Put simply, Cardano is an open-source blockchain platform that has full support for smart contracts. Unlike Proof-of-Work (PoW) blockchains, such as Bitcoin and Ethereum, Cardano employs a Proof-of-Stake (PoS) consensus mechanism. Since this mechanism removes the need for mining, it is considered much more eco-friendly than PoW chains.

Cardano’s consensus mechanism is called ‘Ouroboros’, which was designed and based on peer-reviewed research. This mechanism is used to validate transactions on Cardano’s network, with validators earning ADA (Cardano’s native token) as a reward. Due to the nature of Ouroboros, the Cardano blockchain can facilitate up to 250 transactions per second – far more than Bitcoin and Ethereum can currently handle.

Cardano 

One of the critical elements of the Cardano blockchain to keep in mind is that the underlying technology is all based on peer-reviewed research. Charles Hoskinson, the founder of Cardano, places great emphasis on this approach, which ultimately makes the blockchain more appealing to companies worldwide. Furthermore, since Hoskinson was one of the founders of Ethereum, this adds even more credibility to Cardano.

The launch of the Alonzo mainnet in September 2021, which facilitates smart contracts, placed Cardano in direct competition with other blockchains like Ethereum. Due to the network’s fast speeds and smart contract functionality, Cardano is ideal for developers looking to build decentralised applications (dApps) – most notably in the flourishing area of DeFi. In addition, some new NFT projects are even being minted on Cardano, adding another string to its bow. 

Is Cardano a Good Investment?

Cardano is viewed by many as one of the best cryptos under $1 for several reasons. Let’s dive in and explore five of these reasons so that you can gain a deeper understanding of Cardano’s potential going forward:

Smart Contract Functionality

Naturally, Cardano’s smart contract functionality is one of the key reasons it has attracted so much attention. As defined by Forbes, smart contracts allow for simultaneous execution of obligations by all parties without the need for a middleman. Due to this, smart contracts are considered faster and more transparent than current processes.

cardano smart contracts

Ultimately, these smart contracts can be embedded into dApps and used to facilitate a limitless amount of services. DeFi is one industry that has been using smart contracts efficiently, mainly within decentralised exchanges and liquidity pools. Looking ahead, the adoption of smart contracts is sure to gather pace – making Cardano an attractive blockchain for dApp developers.

Upcoming Scalability Improvements

As touched on previously, Cardano can currently handle 250 transactions per second. Those who buy Ethereum will realise that this is far higher than the 30 transactions per second that the Ethereum network can manage. Notably, the upcoming transition to Ethereum 2.0 promises to support up to 100,000 transactions per second, which is a worry for Cardano’s developers.

However, Cardano’s team is working on a scaling solution called ‘Hydra’, which will significantly increase the network’s scalability. Although there is no definite date for when this upgrade will go live, its technology could enable Cardano to facilitate up to 1 million transactions per second. 

High Price Potential

A glance at the price chart will highlight ADA’s exceptional returns potential. Although the ADA price has been beaten down over the past six months, this can be viewed as a positive thing since it allows speculative investors to buy in at a discount.

To provide an example of Cardano’s returns potential, a rise from today’s price to September’s all-time highs would result in a return of 235%. At this point, ADA would still only be valued at just over $3 – highlighting how far the price could go.

Greener Alternative to Bitcoin and Ethereum

Finally, since Cardano uses a PoS protocol rather than a PoW protocol, the network is considered far ‘greener’ than Bitcoin and Ethereum. As noted in the Harvard Business Review, Bitcoin consumes around 110 Terawatt Hours each year – which is equivalent to the energy usage of small countries like Sweden.

Cardano Ouroboros

As you can imagine, this aspect of Bitcoin is looked on unfavourably by eco-conscious investors. Since Cardano uses a PoS mechanism, this network requires much less energy. In fact, Charles Hoskinson has been quoted as saying that Cardano is “1.6 million times more energy-efficient than Bitcoin”.

Strong Development Team

The team behind Cardano is one of the coin’s main selling points and adds enormous credibility to the technology. As noted earlier, Cardano’s founder is Charles Hoskinson, who co-founded Ethereum with Vitalik Buterin. Hoskinson co-founded the company IOHK after leaving Ethereum, which is now in charge of Cardano’s development.

Aside from Hoskinson, Cardano’s team is filled with PhD holders and experienced academics, ensuring that the network’s technology is as safe and effective as possible. 

Cardano Price

Cardano was listed on Binance back in 2018, so there is plenty of price history to analyse. As is the case with most new listings, the Cardano price surged by over 50% in its first few weeks of trading on centralised exchanges. However, these highs were short-lived, and the price fell by 91% over the next month.

The Cardano price hovered between $0.03 and $0.10 between November 2018 and March 2020, showcasing low momentum and limited price increases. That all changed in mid-2020 when price rocketed over 840% in four months. After a slight pullback in July 2020, the ADA price began a considerable bull run, culminating in an all-time high of $3.10 in September 2021, according to CoinMarketCap.

Cardano price chart

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

This bull run represented a return of 3649% from October 2020’s lows and solidified Cardano as one of the most exciting cryptocurrencies on the market. However, since then, ADA has had a tough time and has lost over 68% of its value. At the time of writing in April 2022, the Cardano price is hovering around $0.97 – a far cry from the heights of September 2021.

Cardano Price Prediction

Given the coin’s current position, is it a good idea to buy Cardano now? Digging a little deeper into the price chart, we can see that Cardano seems to have formed a support level around the $0.78 region. There have been two rejections from this area in the past couple of months, hinting that there could be many buy orders located here.

If Cardano rejects from here again, the first target would be the psychological level of $1. Assuming this is broken, ADA will likely head to the $1.60 level, which was rejected in late 2021. This would represent a 77% increase from today’s price, although the coin could go much higher if bullish momentum is sustained.

Ways of Buying Cardano

Before making your investment, it’s vital to research how to buy ADA in the most streamlined manner possible. The trading platforms that we highlighted earlier offer a selection of investment methods – although PayPal and credit/debit cards remain the most widely used.

Let’s take a closer look at each of these approaches so that you can determine which one suits you best:

Buy Cardano with PayPal

PayPal logoPayPal has recently allowed users to buy cryptocurrency directly through the platform, although users can only invest in Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. However, some trading platforms (such as eToro) support PayPal deposits, making the trading process safer and easier.

If you opt to create an account with eToro, you can link your PayPal accounts and make instant deposits from as little as $10 (£7.60). What’s more, since your card details are already stored on PayPal, there’s no need to re-enter them on the eToro platform. 

Buy Cardano with Debit Card

Another popular option if you’re looking to buy Cardano in the UK is to use a credit or a debit card. There are two main ways of doing this:

  • You can partner with a broker or crypto exchange that allows you to make instant purchases using your card. This removes the need to make a deposit, although it tends to come with a high transaction fee.
  • You can open an account with a broker or exchange that allows you to fund your trading balance using a credit or debit card. Funding tends to arrive instantly and is often more cost-effective than the option noted above.

Regardless of what option you choose, buying ADA with a credit or debit card is one of the quickest ways to make your investment – with many platforms allowing you to withdraw any profits back to the card you used during the funding process. 

Best Cardano Wallet

When you invest in crypto, a key element to keep in mind is that digital currencies must be stored safely to shield against hackers and cyber attackers. Since these currencies are not ‘physical’ like GBP or USD, they must be kept in specially designed wallets called ‘crypto wallets’.

These crypto wallets are structured to hold cryptocurrencies safely by employing advanced security features, such as encryption, 2FA, standardisation protocols, DDoS protection, and more. When researching which crypto wallet to opt for, there are two main types to be aware of:

  • Hot Wallets – Hot wallets are a type of crypto wallet that remains connected to the internet at all times. These wallets are often provided by brokers and exchanges as an added service and tend to come in the form of a dedicated mobile app. Although hot wallets are usually free and easy to use, they are considered more vulnerable to attack than cold wallets.
  • Cold Wallets – Cold wallets are at the opposite end of the spectrum to hot wallets because they are not connected to the internet. This means that crypto holdings are stored offline, making it nearly impossible for them to be hacked. Cold wallets are considered the safest way to keep your crypto, although they tend to come at a cost and are not as user-friendly as hot wallets.

There is an abundance of options to choose from when it comes to these wallets – although one of the best crypto wallets on the market is ‘eToro Money’. As the name suggests, eToro Money is the dedicated crypto wallet app from eToro, available for free to all users. It can be downloaded from the App Store or Google Play and uses the same credentials as the eToro trading account.

etoro crypto wallet

This crypto wallet is ideal for storing your ADA holdings, as it features an unlosable private key, DDoS protection, and several advanced security features. Users can even swap one coin for another from within the wallet’s interface, making it easy to benefit from price movements. Finally, with support for over 120 cryptos, it’s easy to build a diversified portfolio using the eToro wallet.

How to Buy Cardano in the UK – Tutorial

Now that you have a thorough understanding of what Cardano is and the benefits of investing in the coin, let’s look at how to buy ADA in the UK. As you’ll know by now, eToro is our recommended trading platform for Cardano investments due to its high degree of investor protection and low trading fees.

With that in mind, the four quick steps below will walk you through the investment process with eToro – which can be completed in less than ten minutes.

Step 1 – Set Up an eToro Trading Account

Navigate to eToro’s homepage and click ‘Start Investing’. You’ll then be asked to provide a valid email address before choosing a username and a password for your login credentials. Alternatively, you can download the eToro app from the App Store or Google Play and complete the signup process using that, if you wish.

etoro sign up

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Step 2 – Complete the Verification Process

To comply with anti-money laundering rules, eToro requires new users to verify themselves before trading. To do so, click ‘Complete Profile’ and follow the on-screen instructions to complete the KYC checks. You’ll also be asked to upload proof of ID (e.g. passport) and proof of address (e.g. bank statement), which eToro will then verify and email you once everything is complete.

etoro verify account 

Step 3 – Fund your Account

Once verified, you are free to make your first deposit. eToro requires a minimum deposit of only $10 (£7.60), although UK-based users will have to pay a 0.5% conversion fee on non-USD deposits.

In terms of payment methods, eToro accepts the following:

  • Debit card
  • Bank transfer
  • PayPal
  • Skrill
  • Neteller
  • Klarna
  • Trustly

Step 4 – Buy Cardano

Type ‘Cardano’ or ‘ADA’ into the search bar, click ‘Trade’ and then click ‘Trade’ again on the following screen. An order box will then show up, similar to the one below, in which you can enter your position size (minimum $10). Once you are happy with everything, click ‘Open Trade’, and your position will be opened immediately.

Buy Cardano UK

How to Sell Cardano

Like when you buy stocks, you may wish to liquidate your Cardano position once the price rises sufficiently. Fortunately, this is extremely easy to do with eToro and is only accompanied by a 1% transaction fee (plus the spread). In addition, trades can be exited at any time using the browser-based platform or the dedicated mobile app.

To close your ADA position, head over to your account’s ‘Portfolio’ section and click on Cardano. Click the red ‘X’ icon next to the position you’d like to close, and an order box will appear. In this box, click ‘Close Trade’, and your ADA position will be closed immediately – with the balance of the trade being automatically placed into your account. 

Where to Buy Cardano UK – Conclusion

This guide has taken a detailed look at how to buy Cardano in the UK, covering everything you need to know about the investment process and the coin’s value prospects. Although Cardano has been beaten down over the past few months, the coin certainly still has potential – meaning now could be the ideal time to add it to your portfolio while the price is trading at a discount.

Our recommendation for the best place to buy Cardano in the UK is the FCA-regulated broker, eToro. eToro boasts over 24 million users and allows Cardano investments from only $10 (£7.60). In addition, eToro also accepts PayPal deposits, making it easy to fund your account instantly.

etoro review

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

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