Here’s a guide on how to buy Cardano (ADA) on Coinbase:
Step 1: Create or Log in to Your Coinbase Account
If you don’t have a Coinbase account, start by signing up on their website or mobile app. If you already have an account, log in using your credentials.
Step 2: Verify Your Identity
Coinbase requires you to verify your identity before you can start trading. Follow the instructions to provide your personal information and upload any required documents for verification.
Step 3: Deposit Funds
Before buying Cardano, you need to deposit funds into your Coinbase account. You can use various payment methods such as bank transfers, credit/debit cards, or even cryptocurrencies.
Step 4: Search for Cardano (ADA)
Once your account is funded, search for “Cardano” or “ADA” in the search bar on the Coinbase platform.
Step 5: Select Cardano (ADA)
Click on the Cardano (ADA) trading pair to open its trading page.
Step 6: Choose Your Buying Option
You can choose between different buying options, such as “Market Order” or “Limit Order”:
- Market Order: This is the quickest way to buy Cardano. It will execute your purchase at the current market price.
- Limit Order: With a limit order, you can set the price at which you want to buy Cardano. The order will only execute when the market reaches your specified price.
Step 7: Review and Confirm
After choosing your buying option, review the details of your purchase, including the amount of Cardano you’re buying and the total cost. Double-check the details and confirm the purchase.
Step 8: Securely Store Your ADA
Once your purchase is complete, you’ll see the Cardano (ADA) in your Coinbase wallet. However, for added security, consider transferring your ADA to a personal wallet that you control.
- Fees: Coinbase charges fees for transactions. Make sure to review the fee structure before making a purchase.
- Price Fluctuations: Cryptocurrency prices can be volatile. Be aware that the price of Cardano can change rapidly between the time you initiate a purchase and when it’s executed.
- Research: Before investing in any cryptocurrency, it’s recommended to do your own research and understand the project and its potential.