Sure, here’s a step-by-step guide on how to buy Cardano (ADA) using the Binance app:
Step 1: Download and Install the Binance App
If you haven’t already, download the Binance app from your app store and install it on your device.
Step 2: Create or Log in to Your Binance Account
Open the app and either log in with your existing Binance account credentials or create a new account if you’re a new user.
Step 3: Deposit Funds
Before you can buy Cardano, you need to deposit funds into your Binance account. Tap on the “Wallet” tab, select your preferred currency (like USD or BTC), and choose the method to deposit funds, such as bank transfer or using another cryptocurrency.
Step 4: Navigate to the Trading Section
Once your funds are deposited and available in your Binance account, go to the “Trade” section in the app. You’ll typically find this in the bottom menu.
Step 5: Select ADA Trading Pair
Search for “ADA” in the trading pairs and select the ADA trading pair that corresponds to the currency you deposited. For example, if you deposited USD, select the ADA/USD trading pair.
Step 6: Place a Buy Order
There are two types of orders: market orders and limit orders. A market order will buy ADA at the current market price, while a limit order allows you to set a specific price at which you’re willing to buy ADA. Choose the type of order you prefer.
Step 7: Enter Amount and Review
Enter the amount of ADA you want to buy or the amount of your deposited currency you want to spend. Review your order details to make sure everything is accurate.
Step 8: Confirm Purchase
Once you’re satisfied with the order details, confirm the purchase. If you placed a market order, your ADA will be bought at the current market price. If you placed a limit order, it will be executed when the market reaches the price you set.
Step 9: Monitor Your Order
You can monitor the status of your order in the “Open Orders” or “Order History” section. Once your order is executed, you’ll see your ADA balance in your Binance wallet.
Remember that cryptocurrency investments carry risks, and prices can be volatile. Make sure to do your research and consider your risk tolerance before making any purchase.
Please note that the steps provided are based on the general process as of my last update in September 2021, and the Binance app interface or process might have evolved since then. Always refer to the latest information from Binance or their support if you encounter any difficulties.