How You Can Buy Cardano in the UK

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The crypto market keeps drawing attention from more and more people. Investing in crypto coins can bring a good income. People can earn some money even from minor changes in prices. A greater income can be generated from a long-term investment.

The choice of crypto coins available for investment and making payments on the Internet is quite large. One of the options you can consider is Cardano. This crypto coin has been around since 2015. It is possible to buy Cardano in the UK, but you should know how to do this correctly. In this article, you will find all the information you need, including data on the best exchanges, great wallets to use, local legislation, and more.
cardano

What Are the Reasons to Buy Cardano in the UK?

Cardano (ADA) is a digital coin that can be used for investment as well as making payments. It runs on the Cardano blockchain, which is based on scientific principles and developed by specialists in the engineering and cryptography fields. This blockchain is suitable for building smart contracts and creating decentralized apps and protocols.

It is a popular choice for sending and receiving funds because it ensures quick payments along with low fees. It has become one of the fastest-growing digital assets based on blockchain. Currently, it is one of the top ten cryptocurrencies by market capitalization.

Cardano Foundation has an official account on the YouTube channel, where you can watch a range of interesting videos about this cryptocurrency. It is also important to follow breaking news and other information that may impact the price of this cryptocurrency to earn on it.

You can buy Cardano in the UK using different payment options, such as cash, e-wallets, credit/debit cards, and others. This, however, depends on the exchanges you use.

How to Buy Cardano: What You Need to Know

Before you start searching for a way to purchase this crypto coin, you should find out how to buy Cardano coins in a secure, legal, and beneficial way. First of all, you need to find an exchange where you can purchase this crypto coin. It should match different requirements; so, you just need to know what to pay attention to.

You should be ready to undergo the verification procedure. That is required to ensure the legal use of cryptocurrencies. Various payment methods can be used, and there may be significant differences between them. For instance, on some exchanges, you can purchase Cardano with a bank account. In this case, you need to make sure you have one. Generally, purchase procedures vary, depending on which exchange you use.

At What Exchanges Can You Buy Cardano with GPB?

Crypto exchanges are platforms allowing buying Cardano and other digital assets. There are plenty of such service providers that allow trading on websites and in mobile applications. A range of factors should be considered when picking the best option because there is no single platform suitable for everyone. Among such factors, you will find the following:

  • User-friendly interface. Whether you are a beginner or an experienced trader, you want to find and purchase Cardano without any difficulties. Therefore, you should test the simplicity of the design of a certain exchange.
  • Mobile trading. If you want to get access to trading transactions on the go, you need to check whether mobile trading is available for you. An exchange may have a fully optimized site version for users of mobile devices or applications. If you wish to download an application, you need to find a version compatible with the platform of your device, such as iOS or Android.
  • Features. If you are a beginner, you will likely be fine with a few basic features; however, experienced traders may be more demanding regarding options they can use.
  • Payment options. The choice of options available for you to buy Cardano in the UK depends on the exchange. In most cases, you can use your bank account, but other options may also be available, such as credit/debit card payments. If you have particular preferences, find a suitable option offering them.
  • Fees. On some exchanges, you will need to pay commissions to buy Cardano with GPB. A fee depends on many different factors, such as the amount of your transaction.
  • Registration. Buying Cardano should be conducted based on the legalization existing in your country. Exchanges operating in the UK must be properly registered by the FCA. So, if you wish to use the services of such a company, make sure that it is properly regulated.
  • A choice of other digital assets. Some traders want to decrease their risks, and that is why they buy multiple assets. Those can be anything, from Bitcoin to AMP. If you are interested in buying additional assets, choose an exchange that offers everything you need.
  • Security. It is one of the most important factors to consider, especially if you are going to store your funds on an exchange. An exchange should use reliable encryption technology and other security tools.
  • Customer support. In some cases, you may need to contact the support team of an exchange. You want to be provided with convenient payment options, such as live chat. Also, make sure that the working hours of the exchange’s reps are suitable for you.

Buying Cardano at Crypto.com

This exchange allows making transactions on its website or applications. There are app versions compatible with Android and iOS devices. This platform is used by more than 10 million people. It allows trading more than 100 different cryptocurrencies. Moreover, its users can also benefit from an 8% cashback if they use a Visa card and 14% interest on crypt assets they have in their portfolio.

There is a detailed instruction on how to buy Cardano on this platform:

Set up a new account

Click on the Get Started button to open the registration form. Then, you need to add the required details and submit the form.

Undergo the verification procedure 

The information you provide during the registration procedure must be properly verified. This means you need to send some documents, such as ID.

Purchase Cardano

Find this cryptocurrency in the list of available options. Then, you need to choose a payment method to pay for your purchase. The next step will depend on which option you choose. For instance, if you use a credit card, you will need to add your card details during the purchase procedure.

Buying Cardano at BC Bitcoin

BC Bitcoin

BC Bitcoin is a UK-based cryptocurrency broker that has been on the market for more than 30 years. It gives access to more than 1,000 different crypto coins. It is a transparent exchange that provides in-depth information about itself right on the site, including its team members.

This is how you can purchase Cardano from this platform:

Select your coin

Pick Cardano in the list of options available for you.

Send your payment

You can choose a variety of payment options, such as UK Faster Payments, SEPA Transfers, and others.

Receive your coin

You will receive your coins at the specified wallet address.

Buying Cardano at CryptoMate

Cryptomate

This platform has been specially created for UK residents. It offers to trade crypto coins using online banking. Low prices, quick order execution, user-friendly interface are only some of the reasons why this platform is so popular.

This is how to buy Cardano at CryptoMate:

Choose your cryptocurrency

Since there is a range of crypto coins available, specify that you need to purchase Cardano.

Enter your wallet address 

You need to determine and specify which wallet you are going to use to store your coins in.

Place your order

Click on the Buy button and enter the required details. The money will be taken from your UK account, and then, the coins will be transferred to your wallet.

Buying Cardano at Binance

binance

Binance offers plenty of different assets. You can contact its support team via a variety of options, including live chat. This platform is great for users who appreciate the convenience of use, top-notch security, and reasonable fees.

Here is an instruction on how to buy Cardano:

Create an account

You can become a registered member of the platform by filling out the online registration form.

Send necessary documents for verification 

Undergo the verification procedure by sending the required documents.

Buy Cardano

You can add some funds to your account or use a range of payment methods, including Binance P2P, to purchase this cryptocurrency.

Buying Cardano at Kraken

kraken

Kraken allows trading assets at reasonable fees and in a secure manner. It has 24/7 customer support, tutorials for beginners, reasonable fees, tough security measures, and other advantages.

If you are interested in buying Cardano on this platform, do the following:

Create a new account 

Fill out the online registration form and submit it.

Verify your details

Provide the required documents for identity verification.

Buy Cardano

You can either deposit some money to your account or make an instant purchase using a range of payment methods, such as credit cards.

Buying Cardano with a Credit Card or Bank Transfer

It is possible to buy Cardano with a credit card on some platforms. You do not even need to register in some cases to get access to this option. Simply choose Cardano from the list of available options, specify the amount of your transaction, and enter the wallet’s details. In some cases, your credit card will be verified by deducting a small amount of money, which will later be returned to your account. Also, it is possible to make a purchase using a bank account.

Where to Store Your Crypto Coins after Buying Cardano

Before you buy Cardano with GPB, you should think through where you will be storing your assets. There is a range of reliable wallets you can choose from. The following are the factors to pay your attention to when choosing the best option:

  • Security. It is a very important matter since the safety of your funds depends on that. Web-based platforms can be hacked as well as applications. That is why hardware wallets are considered to be the most secure option.
  • Price. Some wallets will cost you nothing. Among available options, you will find web-based, desktop, and mobile options. So, if you wish to save some money, you can choose something from them. If you are willing to spend some money, you can purchase a reliable hardware wallet.
  • Storage capabilities. The number and type of digital assets you can store depend on your wallet. Therefore, if you have particular preferences, you should consider them before you opt for a certain option.
  • User experience. The convenience of use is important for every user. That is why you should pick a wallet that allows for easy navigation.
Here is the list of wallets you can use for buying Cardano:

Ledger Nano X

Ledger Nano X is a hardware wallet that provides a secure way to store your cryptocurrencies. It allows storing more than 1,000 coins. The device is equipped with a battery and can be connected to different devices via Bluetooth. It is one of the best options in terms of durability, security, and benefits.

Trezor Model T

Trezor Model T is another good hardware wallet suitable for storing hundreds of cryptocurrencies, including Cardano. It is a pretty small device that comes with a mini OLED screen. Trezor Model T is a self-hosted wallet protected with reliable security measures.

AdaLite Wallet

If you are looking for a reliable web-based wallet, you can consider this one. It is a lightweight wallet that allows storing Cardano securely. You will be able to easily create a new wallet right on the official website of this platform.

Daedalus Wallet

It is an official wallet for Cardano cryptocurrency, which can be run on your PC. Among the multiple benefits of this self-hosted wallet, you will find backup and recovery options. This gives you full control over your assets.

Legal Purposes for Buying Cardano

You can buy Cardano in the UK without any worries as long as you do this for legal purposes. They include investment, making payments on third-party websites, transferring funds to other people, and more.

As for illegal purposes, they are as follows:

  • Money laundering
  • Terrorism
  • Others

To ensure the legal use of cryptocurrencies in the UK, The Financial Conduct Authority (FCA) does a range of actions. In particular, it registers crypto exchanges. In some cases, such companies can obtain e-license. Another essential condition you should keep in mind is that you will not be able to purchase crypto coins from exchanges registered in the UK unless you undergo the verification procedure, also known as Know Your Customer (KYC).

It is associated with providing a range of documents aiming at identifying a buyer if this is needed. So, if you wish to buy Cardano in the UK, you should be ready to prepare the required documents to undergo the verification procedure.

Hi, my name is Benzion. I have twelve years of experience in the Forex industry, and I have launched two successful crypto trading services. I have in-depth experience on several blockchain networks like Bitcoin, Etheruem, EOS, Cardano, Hyperledger, ICON, Komado, etc. I also have in-depth knowledge of blockchain techniques, including various consensus mechanisms, DLT, smart contracts, security, and privacy measures. Benzion Friedman