How to Buy Cardano in the UK
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Risk Warning
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Updated 22/11/2024
Explore our curated list of reputable exchanges for buying Cardano, each rigorously tested with real funds. All brokers are accessible to traders in the United Kingdom.
To Buy Cardano in the UK, you'll need to:
- Choose a trusted exchange Like eToro or Coinbase).
- Create and verify an account with photo ID.
- Deposit GBP via bank transfer, PayPal, or card.
- Search for Cardano (ADA) and place your buy order.
- Store your Cardano securely in a wallet.
Featured Partner - eToro
- Copy Trading
- User Friendly Platform
- Regulated & Trusted
- 30 Million+ Users
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Top 5 Exchanges
1
eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
2
Coinbase
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
3
Uphold
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
4
MEXC
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
5
OKX
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If you’re looking to buy Cardano (ADA) in the UK, you’re not alone.
Cardano has become one of the most talked-about cryptocurrencies due to its focus on sustainability and scalability.
I first stumbled upon Cardano when researching environmentally friendly blockchain projects, and since then, it has been a rewarding journey.
In this guide, I’ll share my step-by-step process for buying Cardano in the UK, along with insights on where to buy and how to store it securely.
Step-by-Step How to Guide
Step 1 – Choosing the Right Crypto Exchange
Finding the right cryptocurrency exchange is a crucial first step when buying Crypto. Start by focusing on security features like two-factor authentication (2FA) and cold storage to keep your assets safe.
Fees are equally important, as these can vary significantly between platforms. Pay close attention to transaction, deposit, and withdrawal fees to ensure you’re not overpaying.
For beginners, a user-friendly platform with clear navigation and reliable customer support can make all the difference. Opt for exchanges that provide an intuitive experience to streamline your trading process.
Here’s a quick comparison of popular exchanges for buying Litecoin:
- eToro: Excellent for beginners and social trading, with a simple and accessible platform.
- Coinbase: Ideal for casual users, offering straightforward tools and robust security.
- Coinbase Advanced Trade: Great for experienced traders, with lower fees and advanced options.
- Uphold: A versatile option for multi-asset trading, offering fee-free transactions but higher spreads.
For beginners, eToro strikes a good balance between ease of use and compliance with UK regulations.
| Feature | eToro | Coinbase | Coinbase Advanced Trade | Uphold |
|---|---|---|---|---|
| Ease of Use | Beginner-friendly, social trading features | Simple interface, ideal for beginners | Advanced tools, suited for experienced traders | Straightforward, easy-to-navigate app |
| Fees | 1% trading fee | 1.49% transaction fee | Lower fees (0.4% maker, 0.6% taker) | 0% trading fee, but higher spreads |
| Funding Options | Bank transfer, debit/credit card | Bank transfer, debit/credit card, PayPal | Bank transfer, debit/credit card | Bank transfer, debit/credit card, Apple/Google Pay |
| Crypto Selection | 75+ cryptocurrencies | 240+ cryptocurrencies | 240+ cryptocurrencies | 200+ cryptocurrencies |
| Security | FCA-regulated, 2FA, cold storage | Insured funds, 2FA, cold storage | Insured funds, 2FA, cold storage | Strong security, but not FCA-regulated |
| Extras | CopyTrading, multi-asset platform | Educational tools, staking | Advanced charting, order types, lower fees | Multi-asset platform with cross-asset trades |
Step 2 – Creating and Securing an Account
Once you’ve chosen an exchange, the next step is setting up an account. This part might feel a bit tedious due to KYC (Know Your Customer) verification, but it’s mandatory for UK exchanges.
Here’s how I set up my account:
- Provide your email and create a secure password.
- Complete identity verification by uploading your passport or driving licence.
- Enable two-factor authentication (2FA) to protect your account.
Tip: Always use a unique password and enable 2FA—it saved me once when someone tried to access my account!
Step 3 – Depositing Funds
Depositing GBP into your account is straightforward but varies by platform. I prefer using bank transfers because of their low fees (or no fees, in some cases). Credit or debit card payments are faster but often come with higher fees (typically around 3%).
Common UK payment methods:
- Bank transfer: Usually free but can take 1–2 days.
- Debit/credit cards: Instant but with fees up to 3%.
- PayPal: Supported on some platforms like eToro for quick transactions.
I started small with a £50 deposit to test how smooth the process was. Most exchanges have a minimum deposit limit (e.g., £10–£50).
Step 4 – Find and Place a Buy Order for Cardano
After funding your account, it’s time to find Cardano (ADA) and place a buy order. On platforms like Coinbase, simply search “ADA” in the trading section. Advanced exchanges, like Binance, allow you to set market or limit orders.
Steps to buy ADA:
- Go to the “Markets” or “Trade” tab.
- Search for ADA/GBP.
- Decide how much ADA you want to buy and confirm the transaction.
I typically use market orders for instant execution, but if you’re patient, limit orders can help you buy at a specific price.
Step 5 – Reviewing and Buy
Before finalising the purchase, double-check all the details. I’ve made the mistake of not reviewing fees before, and it cost me an extra £5! Check:
- The amount of ADA you’re buying.
- The fee for the transaction.
- The exchange rate (ensure it’s competitive).
Once satisfied, confirm the order, and you’ll have ADA in your wallet within minutes.
Step 6 – Store your Cardano Securely
For added security, move your Coins to a private crypto wallet instead of leaving it on the exchange:
- Hot Wallets: Software wallets like eToro Wallet are convenient but connected to the internet.
- Cold Wallets: Hardware wallets like Ledger Nano X or Trezor store Litecoin offline for maximum security.
Always back up your wallet’s recovery phrase and keep it safe.
For more on the best Crypto wallets Click here.
Bonus Step – Selling or Using Cardano
Selling ADA is just as easy as buying it. Most exchanges allow you to sell directly into GBP and withdraw to your bank account. I’ve also experimented with staking, which involves locking ADA to earn rewards. For me, staking with Binance yielded an annual return of around 4–6%, making it a great option for passive income.
Potential uses for Cardano:
- Staking to earn rewards.
- Trading for other cryptocurrencies.
- Using it in blockchain-based applications.
Where to Buy Cardano
#1 eToro - Best in class for ease of use, simplicity and quick sign up
eToro is my top choice for buying Cardano in the UK. It’s regulated by the FCA, making it a trusted option. The platform is beginner-friendly, with a simple interface and low fees for deposits and withdrawals.
Pros & Cons
- FCA-regulated and highly secure.
- Commission-free trading for cryptocurrencies.
- Supports GBP deposits via bank transfers, PayPal, and cards.
- Limited advanced trading features.
- Withdrawal fees (£5 per transaction).
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
#2 Coinbase - The go-to platform for beginners
Coinbase is ideal for newcomers, thanks to its intuitive app and educational resources. It was my first exchange, and I found the process straightforward. However, fees can be higher compared to competitors for quick buys.
We recommend utilising their free Coinbase Advanced Trade platform for lower fees.
Pros & Cons
- Higher fees on basic platform (1.49% per trade).
- No free bank deposits in the UK.
- Beginner-friendly with easy navigation.
- Excellent mobile app for trading on the go.
- Educational resources to learn about cryptocurrencies.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
#3 Uphold - Multi-Asset, Low Minimums
Uphold offers flexibility for small investors with no minimum deposits and a broad range of assets. I recommend it for anyone looking to invest small amounts in ADA or diversify their crypto holdings.
Pros & Cons
- Zero minimum deposit, great for beginners.
- Supports multiple assets beyond crypto.
- Low trading fees.
- Less user-friendly than eToro or Coinbase.
- Limited staking options for Cardano.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
What is Cardano?
Cardano is a third-generation blockchain platform known for its focus on scalability, sustainability, and innovation. Unlike earlier cryptocurrencies, Cardano was built using a research-driven approach led by engineers and academics. Its native token, ADA, powers transactions and smart contracts within its ecosystem.
What sets Cardano apart is its commitment to being eco-friendly, using a proof-of-stake (PoS) mechanism called Ouroboros, which significantly reduces energy consumption. With a vision to create a secure and scalable blockchain, Cardano aims to provide solutions for real-world problems, including supply chain transparency and decentralised finance (DeFi) applications.
How Does Cardano Work?
Cardano operates on a proof-of-stake (PoS) consensus model, where ADA holders can “stake” their coins to validate transactions and secure the network. This method consumes far less energy than the proof-of-work model used by Bitcoin.
Its blockchain is divided into two layers:
- Settlement Layer: Handles ADA transactions.
- Computation Layer: Supports smart contracts and decentralised applications (dApps).
Cardano’s use of smart contracts allows developers to build applications without intermediaries. I find its dual-layer architecture particularly innovative, as it enhances both speed and scalability, making Cardano suitable for future growth.
Is Cardano a Good Investment?
Investing in Cardano has its pros and cons. On the positive side, its innovative technology and eco-friendly PoS model make it a leader in sustainable crypto. The ADA token has also gained adoption in decentralised finance, further boosting its value.
However, it’s not without risks. Like other cryptocurrencies, Cardano is highly volatile, and its price depends on market trends and adoption rates. Personally, I see Cardano as a long-term investment—its focus on research and sustainability gives it potential staying power. But remember, never invest more than you can afford to lose.
Final Thoughts on Buying Litecoin
Buying Cardano in the UK doesn’t have to be complicated. By following the steps I’ve shared—choosing a trusted exchange, securing your account, depositing funds, and storing your ADA safely—you can make a smart and secure investment. Cardano’s focus on sustainability and innovation makes it a standout cryptocurrency with long-term potential.
If you’re ready to get started, why not take the first step today? Sign up with a trusted platform like eToro or Coinbase and start your Cardano journey. Remember, always do your research and invest only what you can afford to lose. Happy investing!
FAQs
What is the minimum amount I can invest in Cardano?
Most exchanges allow investments starting as low as £10, depending on the platform. However, fees may apply, so check the minimum deposit and transaction fees beforehand.
Can I buy Cardano with GBP in the UK?
Yes, many exchanges like Coinbase and eToro allow you to deposit GBP directly using bank transfers, credit/debit cards, or other payment methods.
Do I need a wallet to store Cardano?
While you can leave your Cardano on the exchange, it’s safer to use a private wallet (hardware or software) for long-term storage.
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