What is Cardano?
Cardano uses complex infrastructure platform as a means to integrate safety and security and to make sure that scaling is sustainable to withstand changing volumes. The project is unique in that it is the first cryptocurrency to be peer-reviewed and has a research-first approach.
Cardano ADA has a heavyweight in the cryptocurrency having been founded by Ethereum co-founder, Charles Hoskinson. According to the project:
“A major innovation of Cardano is that it will balance the needs of users with those of regulators, and in doing so combine privacy with regulation. The vision for Cardano is that its new style of regulated computing will bring greater financial inclusion by providing open access for all to fair financial service.”
How to create a Cardano wallet
Sign up for a free Coindirect account and you will automatically get a free Cardano online wallet. You can use your Cardano wallet to buy, sell, store, send (withdraw) and receive (deposit) ADA.
How to create a Cardano address?
Once you have signed up for a free Coindirect account all you need to do press the ‘Receive’ button to reveal your Coindirect Cardano wallet address.
How to buy Cardano with a credit card
- Sign up for a free Coindirect account.
- Find your Cardano Wallet and click the ‘Buy’ button in your Cardano Wallet.
- Select “New VISA Card (EUR)” or “New credit card (NGN)” if you are in Nigeria.
- Enter EUR value of Cardano you want to purchase (more than the minimum limit) or the Cardano amount you want to buy and then click ‘Preview Buy’.
- You will receive a quote, press ‘confirm’ before the timer runs out (counts down from 55 seconds).
- Type in your credit card details and pay.
- You will be taken to a page to verify your transaction.
- Finally, you will be redirected back to your Coindirect Wallet once the payment is successful.
How do I purchase Cardano from my bank account?
If you are in South Africa or in Europe in a SEPA country you can deposit ZAR and EUR into your Coindirect ZAR Wallet or Euro Wallet respectively.
To fund your account you have to transfer money using bank transfers. To get the funding instructions so that your account is credited:
- Go to your ZAR/EUR wallet and click the “Fund now” button. Alternatively, click the Fund tab in your Coindirect wallet and click on “Transfer Now”.
- Select the bank to transfer to from the drop-down menu to get payment details and the reference you should use (highlighted in blue).
- Transfer the money from your bank account into the account shown on the screen then wait for the bank transfer to be processed (0-3 business days depending on the bank).
- Once the funds reflect in your ZAR wallet, go to your Cardano wallet and click “Buy” and select “Wallet (ZAR)” or “Wallet (EUR)” as you payment method.
Where can I sell my Cardano?
You can sell Cardano from your Coindirect wallet by clicking the ‘Sell’ button in your Cardano wallet.
If you are in a SEPA region or South Africa. You can sell your Cardano and instantly get money transferred to your Wallet (ZAR or EUR).
If you are in another region with no local currency wallet. You can sell your Cardano by creating a sell offer on the marketplace.
You now know how to buy Cardano instantly from almost anywhere in the world. Make sure to download the Coindirect App to trade Cardano from the palm of your hands.
Credit card limits
Please note that Coindirect has limits for credit card purchases in place.
Make sure that your account is verified so that your credit card purchase limits are increased.
Currently, the limits for credit card purchases are:
Unverified users – €175 – €500
Verified users – €890 – €1000
If you are interested in introducing your friends to a way to buy Cardano with their credit cards, make sure you share a link through the Earn programme. If they sign up to Coindirect, both you and the friend will receive 5 XRP for free when they perform their first transaction.