How to buy Cardano as ADA re-tests $2 level
- Cardano price was hit on Wednesday along with the broader cryptocurrency selloff.
- But Cardano price is looking to retest the $2 level.
- If you need help understanding how to buy Cardano now, this guide is for you.
The price of Cardano ADA/USD was hard hit on Wednesday along with the broader cryptocurrency market. Despite the selloff in Cardano price, the “green” cryptocurrency is still up sharply for 2021 having entered the new year at around $0.18.
Cardano traded as low as $1.33 over the past 24-hours and re-tested the $2.00 level Thursday morning. While ADA is still off its all-time highs of $2.47, many new investors are taking a look at the discounted value and wondering how to buy Cardano for the first time.
How & where to buy Cardano
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The biggest question on many investors’ minds is how to buy Cardano and other cryptocurrencies. Don’t worry, the cryptocurrency universe is still a new concept for most investors.
The simple answer to the question of how to buy Cardano now is through a reputable and trustworthy cryptocurrency broker. This is the same concept as requiring a stock broker to buy shares of a company.
The explosion of demand for new investors to buy cryptocurrencies is a good thing as it forces brokers to become more competitive in terms of ease of use and pricing. Our team of financial experts spent a lot of time evaluating what are the best cryptocurrency brokers to buy Cardano and we can safely make two recommendations.
EToro existed before the first cryptocurrency was created and spent more than 15 years earning a fantastic reputation among its users. Today, eToro offers a full suite of trading products, especially cryptocurrencies.
The company is perhaps best known for including a social element to investing as users can “follow” expert investors on their platform to see first-hand how the pros invest. As such, buying Cardano on eToro is highly recommended. Click the link below to buy ADA on eToro:
Plus500 is also an industry veteran, having operated since 2008. Plus500 is a Contracts for Difference (CFD) broker which means that instead of owning an asset outright, investors buy a derivative of the asset.
Don’t worry, the value of the derivative fluctuates with the price movement of the underlying asset. In essence, if you buy Cardano on Plus500 and the price of Cardano goes up, your holdings will go up as well.
Buying Cardano on Plus500 is highly recommended. To get started with buying Cardano now on Plus500, click the link below:
Cardano is a ‘green crypto’
Not exactly sure what Cardano is? Don’t worry, you aren’t alone. Cardano was founded by Charles Hoskinson who co-founded what is now the second largest cryptocurrency after Bitcoin, Ethereum.
Cardano technically operates as a competitor to Ethereum and labels itself as “the most environmentally sustainable” cryptocurrency. Hoskinson claims the Cardano network uses just 6 GWh of power which is less than 0.01% of the amount of power consumed across the Bitcoin network.
At a time when more people are paying attention to sustainable concerns, not only in the corporate world but in the cryptocurrency universe, more sustainable coins like Cardano will gain in popularity.
This makes Cardano an attractive cryptocurrency to buy at current levels, especially for long-term investors looking to potentially hold Cardano for years, if not decades.
Can Cardano price rise?
Assigning price targets to cryptocurrencies is never an easy task, especially for coins that are already up big. In Cardano’s case, the price of ADA is up 1,000% since the start of 2021 alone. Can Cardano gain another 1,000% or more? It’s possible as the cryptocurrency is still in the very early stages of marketing itself as a “green” alternative to other major coins.