Investors are looking for how to buy Cardano in the UK because it is one of the promising blockchain projects on the market right now. Cardano was the sixth-largest cryptocurrency by market cap ($11.7 billion) at the time of writing, trailing only Bitcoin, Ethereum, Polkadot, and XRP.
There is no shortage of crypto exchanges in the UK where investors can get exposure to Cardano (ADA). However, it can be a little tricky to buy ADA with GBP since some exchanges do not offer an option to do so instantly as they do for Bitcoin.
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In this article, we review some leading platforms where you can buy ADA in the UK and also share a step-by-step guide on how you can do it.
A quick guide on buying ADA with GBP buy instantly on CEX.io.
CEX.io is one of the few platforms with an option to buy ADA instantly. Here’s how to do it:
- Create an account on CEX.io
- Complete the KYC verification process.
- Go to Deposit and select your preferred payment option.
- Change the currency tab to GBP and enter the amount.
- Proceed with and complete the deposit.
- Go to Buy/Sell
- Select ADA from the dropdown menu as the coin to buy and GBP as your currency.
- Enter the amount and hit Buy.
- Confirm and complete the order.
- Congrats! You just bought yourself some ADA and can leave on CEX.io to grow or withdraw to your wallet for greater security.
CEX.io is one of the few exchanges that support the instant purchase of Cardano (ADA) using GBP and via multiple payment methods.
How to buy Cardano with GBP
CEX.io is one of the oldest cryptocurrency exchanges in the United Kingdom, having launched in 2013. (Read our full CEX.io review).
Besides the instant buy option on CEX.io, you can also buy ADA with GBP via the exchange’s order books. With these diverse options and is based in the UK, CEX.io is a good choice for investors looking to add ADA to their portfolio.
How to do it:
- Register and complete the KYC verification.
- Deposit GBP using your preferred payment option.
- Go to Trade and find the ADA/GBP pair on CEX.io.
- Switch the order type to Market.
- Enter your desired purchase amount under the Instant Buy ADA column.
- Review the order information and click Buy Now.
Supported Payment Channels: Credit and Debit Cards, SWIFT, Skrill, EPay, ACH Transfer.
Coinmama is an instant and non-custodial exchange service. Unlike CEX.io, Coinmama doesn’t maintain a public order book. However, the platform lets you buy cryptocurrencies (including ADA) and send them to an address that you provide during the purchase.
How to do it:
- Create an account on Coinmama and complete the KYC process.
- Visit the Buy Cardano page.
- Switch the current tab on the top right to GBP.
- Enter the amount you want to buy and click Buy Now.
- Provide your external ADA wallet address (on Ledger, Trezor, etc.)
- Select your preferred payment method and complete the deposit.
- Coinmama will send the purchased amount to your wallet within 30 minutes after receiving payment.
Supported Payment Channels: Credit and Debit Cards, SWIFT, SEPA.
Changelly is another non-custodial exchange service that offers where to buy Cardano. Their service curate offers from their crypto processing partners and allows for diverse options.
Changelly has been in the market since 2015 and a good option for UK investors that generally want to buy altcoins like ADA.
How to do it:
- Visit Changelly.com
- Switch the tab on the homepage to Buy.
- Change the currency to GBP and coin to ADA.
- Enter your country of residence (United Kingdom).
- Click Buy ADA now.
- Select from the available offer (preferably MoonPay).
- Enter your external ADA address and agree to the terms.
- Click Go to Payment
- Complete the signup and KYC process.
- Choose a payment method.
- Confirm order details and check out.
- Changelly sends the purchased ADA to your wallet address if successful.
Supported Payment Channels: Instant Bank Transfer to UK banks, Credit and Debit Cards.
BC Bitcoin is another UK-based platform where anyone can buy ADA with GBP. Like the last two options we consider, you’ll also need an external wallet address to receive the coins you buy from BC Bitcoin.
How to do it:
- Register on BC Bitcoin and complete KYC verification.
- Visit the Buy Page on BC Bitcoin
- Select Cardano (ADA) as the count to buy.
- Choose your preferred payment channel.
- Choose GBP as your currency and insert the amount to spend.
- Enter your wallet address and review the order details.
- Complete the payment checkout.
- BC Bitcoin sends ADA to your designated wallet within 30 minutes if you use the card option. Bank deposits settle when the exchange receives the transfer.
Supported Payment Channels: Faster Payments, SEPA, Credit and Debit Cards
Kraken is a traditional cryptocurrency exchange and another one of those that launched in the early years of the industry (2011). You can buy ADA with GBP via their platform, although they do not support credit and debit card purchases.
How to do it:
- Create an account with Kraken and complete the Starter verification at least.
- Go to Funding on the top tab.
- Find your GBP wallet on the list of supported currencies.
- Click Deposit, and deposit GBP funds via your preferred option.
- Go to Buy Crypto.
- Choose Cardano as the coin to buy.
- Enter the desired purchase amount
- Review the order details and complete the purchase.
Supported Payment Channels: Faster Payments, CHAPS.
Buying ADA with other cryptos on Binance short step-by-step guide
Aside from buying ADA with GBP, many exchanges offer Cardano trading pairs. In other words, you can sell other cryptocurrencies for ADA using the order book on these platforms. Binance is a popular cryptocurrency exchange, and here’s a guide on how to buy ADA with other cryptos on the order book.
- Create a Binance account.
- Go to Wallet > Fiat and Spot.
- Choose the crypto to deposit (eg. BTC)
- Copy your Binance BTC address and deposit from an external wallet.
- Once confirmed, go to Markets and search for the ADA/BTC pair.
- Switch the order type on the next page from Limit to Market.
- Enter the amount of ADA to buy and click Buy ADA.
At the time of writing, Binance offers pairs that let you buy ADA with other coins like ETH, USDT, BNB, USDC, and BUSD. Therefore, you can deposit any of these coins on Binance and sell them for Cardano.
Things to consider before buying Cardano
Having reviewed some exchanges where you can get exposure to ADA, here are some other things to consider before you invest in the coin.
Research the Project: As we noted at the onset, Cardano seems like a promising crypto project and currently ranks among the largest assets by market cap. However, that is not enough reason for one to simply choose to add it to their portfolio.
Spend some time learning key information such as the project's history, core development team, roadmap, and user milestones. Knowing and understanding such data can help you reach a more accurate decision on whether or not to buy ADA.
Review the Market Cycle: At its all-time high, ADA traded at $1.33 per coin. The coin traded more than 70% below that peak at the time of writing, suggesting that there's growth potential.
Unless you're buying small amounts periodically (dollar-cost averaging), ensure that the market is in a downtrend before you get in. That way, you can be sure to be in profit as soon as the price recovers.
On the other hand, buying when the market is in an uptrend could mean you'll have to hold for far longer if prices eventually drop.
Exchange Fees: Savvy investors know that they can get more value for their money when they use platforms that charge lower fees and actual market prices.
Among the exchanges listed in this article, Binance, Kraken, and BC Bitcoin offer the lowest fees and best prices for buying ADA.
Where to store Cardano
Where to store your ADA coins after buying them would usually depend on two factors. The amount purchased and how long you want to hold them.
For purchases under £500, it may be best to leave it on tier-1 exchanges such as Kraken, Binance, or CEX.io. Alternatively, you can install mobile or desktop wallets such as Trust Wallet, Coinomi, or Atomic Wallet, as these allow you to retain custody of your assets.
We recommend that you invest in a hardware wallet such as Trezor or Ledger for large purchases and long-term holding. These devices store your assets offline, leaving little to no room for hackers.
Privacy and security tips
Alongside storing your assets securely, the following privacy and security tips will further protect you from hackers and other forms of security breaches:
- Use unique passwords for different exchange platforms.
- Immediately you sign up on an exchange, enable two-factor authentication (2FA) and other advanced security features.
- Complete KYC levels that match the amount of crypto you want to buy. This will reduce the amount of personal information you provide and preserves your privacy.
- Preferably, use non-KYC exchanges like Binance if you already have crypto that you want to sell for ADA.
- Double-check addresses before sending funds. If you’re transferring a substantial amount, we highly recommend sending a test transaction first and then following up with the large transaction if successful.
Cardano (ADA) is one of the largest crypto assets, meaning that many investors have it in their portfolio and believe that its price will grow in the future.
In this article, we disclosed exchanges where investors in the UK can buy ADA with GBP and share steps on how to do so. We also revealed the payment options available and hoped that you found the privacy and security tips helpful.
We’ll now leave it to time to decide whether or not Cardano lives up to its potential and if it becomes of the largest financial assets globally.