What is Cardano (ADA)?
Cardano is a proof-of-stake blockchain built on the groundbreaking Ouroboros proof-of-stake consensus protocol, and developed using the Haskell programming language: a functional programming language that enables Cardano to pursue evidence-based development, for unparalleled security and stability. Founded in 2015 by Ethereum co-founder Charles Hoskinson, Cardano is well-known for its high transactions-per-second and for its energy efficiency. ADA is the native token of Cardano. You can buy and sell ADA for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade ADA for BTC the same way you trade CAD for USD. You can also trade ADA to CAD based on the ADA price. To learn how to buy Cardano / ADA, scroll down to see how to buy Cardano.
How to buy Cardano (ADA)?
Here's how to buy Cardano on Coinsquare
To buy Cardano, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying ADA. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select ADA from the list on the trade section
Coinsquare lets you trade ADA without leaving the app. You can also check the Cardano price and convert ADA to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the ADA price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Cardano (ADA)
Congratulations! You’re now the proud owner of ADA. You can either HODL or use it to exchange ADA to CAD or any other cryptocurrency listed on Coinsquare.
Where do I keep my Cardano (ADA)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. Client assets are securely stored 1 to 1 in cold storage with approved custodians, kept separate from operational funds, and never utilized for lending purposes.
All client assets are held in trust with external, licensed custodians with a combined $680M USD in insurance. Additionally, CCML maintains Vault Risk insurance beyond those of its custodians that cover risks related to the cold storage of its clients’ crypto assets. And the cash held in your account is insured against insolvency by the Canadian Investment Protection Fund (CIPF). This means that in the unlikely event that Coinsquare (CCML) becomes insolvent, CIPF will cover any shortfall of cash held in client accounts up to $1 million CAD per account.
Ready to add Cardano (ADA) to your portfolio?
Create your account, fund it with spare change and get a little bit of ADA.
