How to Buy Cardano (ADA) Coin with Credit Card or Paypal USD

The fully open source Cardano, home to the cryptocurrency ADA, is not only a decentralized public blockchain but also a cryptocurrency project. Cardano can be made use of for both sending and receiving digital funds, meaning it enables quick and guaranteed direct transfers secured through cryptography. Before we start discussing how to buy ADA on Binance, we would like to remind you that you should set up a wallet to store the cryptocurrency. The steps to be followed for setting up a wallet will not be discussed in this post. In fact, it will be assumed that you already have one.

There are two parts to this guide: the first part is buying Ethereum (ETH) and the second one is exchanging ETH for ADA. This is because you need to pay in BTC or ETH in order to buy Cardano on Binance.

Step #1: Buying BTC/ETH with Credit/Debit Card or Paypal USD

We recommend that you buy BTC/ETH either from Coinbase or Coinmama.

Coinbase

The cryptocurrency exchange Coinbase operates in as many as 32 countries. The exchange accepts payments by way of debit cards, credit cards, and bank transfers. The buy limits will be low in the beginning but can be increased over time. They charge a lower fee for each transaction.

The steps to be followed for buying BTC/ETH on Coin base are as follows:

Click on the ‘Sign Up’ button. You will be taken to the ‘Create Your Account’ screen.

For creating an individual account, fill in your name as in your photo ID, email address, and choose a strong password. For opening a business account, click on ‘Business’ button and fill out the required details.

You will have to go through an account verification procedure. For this purpose, you need to provide a phone number, upload your photo ID image, and verify either a bank account or credit/debit card.

After your account has been verified, you can click on ‘Buy/Sell’ button on the menu bar at the top.

Choose to buy BTC/ETH. If you choose ETH, at the bottom type in for how much of your local currency you want to buy ETH or how much of ETH you wish to buy. Then click on the ‘Buy’ button.

You will be prompted to confirm your purchase of ETH on the next screen. Click on the ‘Confirm Buy’ button.

If you use a credit or debit card for payment, you will have to shell out a higher fee. However, you will be able to buy quickly. It is cheaper to buy using a bank transfer, but it is slower. You will get your coins only in about a week’s time.

Coinmama

Alternatively, you can use the Israel based crypto exchange Coinmama. The exchange allows you to buy cryptocurrencies through your credit card. They offer higher buying limits and provide fast as well as responsive customer service. However, they charge a higher fee for each transaction.

The procedure for buying BTC/ETH on this site is same as that for buying on Coinbase. You need to first register on the broker’s site and create an account. The next step is buying ETH for the required amount. The following screenshot will give you a fair idea in this regard.

Coinmama allows payments in USD or EUR. You have to decide as to how much Ethereum you want to buy and how you will make the payment. You can go for one of the options you see on their site or type in the desired as to how much of ETH you want to buy or for how much fiat currency you want to buy ETH.

Binance

After buying ETH either form Coinbase or Coinmama, you can register on Binance exchange for buying ADA. You can this link https://www.binance.com/register.html to register on Binance.

When registering on Binance, make sure that you select a strong password. It is also a good idea to opt for the two-factor authentication. After confirming your email, log in into your account to transfer ETH from Coinbase/Coinmama to Binance.

For transferring ETH, you need to first find out your ETH wallet address in Binance. This can be done by clicking on the buttons ‘Funds’ and then ‘Deposits/Withdrawals’. Identify ETH in the list and click on the ‘Deposit’ button to see the ETH wallet address.

Copy your ETH wallet address on Binance. Then, log in into your Coinbase account.

Click on the ‘Accounts’ tab on Coinbase platform and choose your Ethereum wallet so as to open the send dialogue box. Paste your ETH wallet address on Binance.

Make sure the addresses entered are correct and type in the amount of ETH to be sent. Click on ‘Send’ button.

Buy ADA Coins on Binance

After transferring ETH or BTC to your Binance wallet, you can log in into your Binance account and check available balance. Click on the ‘Advanced’ button by hovering the pointer over the ‘Exchange’ tab. Go to ADA/ETH or ADA/BTC market.

There are two options for buying ADA:

Limit order: This option allows you to manually set as to at what price you want to purchase ADA.

Market buy: This option fills your order automatically at the best price available.

The ‘Market’ buy option is the relatively easier option. So, choose this option and input the desired amount into the ‘Amount’ box using the percentage options (what percentage of ETH in your account you want to exchange) you can see below the box. Now, click on the ‘Buy ADA’ button. Your but order will be completed immediately. Binance charges a fee of 0.1 percent on the value of each transaction.

It is a good idea to move your ADA to your personal wallet from Binance because exchanges have been hacked. If you want to sell your Cardano, you just have to reverse tasks listed in the article.