How to Buy Cardano (ADA) in Australia: An Easy Guide
Cardano is a third-generation decentralised network powered by blockchain technology. It promises to become as functional as Ethereum, as secure as Bitcoin, but superior in.
Cardano is a third-generation decentralised network powered by blockchain technology. It promises to become as functional as Ethereum, as secure as Bitcoin, but superior in many ways compared to both cryptocurrencies.
Admittedly, Cardano has been taking its time to develop (with smart contract functionality to be deployed in late 2021). Its native cryptocurrency, Ada, continues to rise as investors expect a fast adoption of such a stable and extensive network as Cardano in the future.
If you are researching for the best way to buy Cardano in Australia, let us guide you through the easiest way in this article. Find out more about Cardano (ADA) in detail by clicking the link below.
Learn more: What is Cardano (ADA)? A Complete Guide in 2021
How to buy Cardano (ADA) in Australia?
The best and easiest way to buy Cardano in Australia is through a crypto retailer, which works differently from crypto exchanges. Through a crypto retailer, you get a simpler buying interface — no bid/ask tables, no candle charts, and no confusing numbers, perfect for investors who HODL.
Easy Crypto Australia makes buying Cardano as easy as buying groceries online. You order the coins you want to buy, type down your receiving wallet address, and pay the final bill without additional costs.
Here is how to buy Cardano (ADA) through Easy Crypto:
1. Sign up
Signing up and verifying your identity will take no time at all. Follow all the instructions to successfully go through the standard KYC/AML procedure.
2. Place an order
Already verified? Awesome! Now, to place a new order, click on Buy & Sell > Instant buy & sell. Click on BTC and select ADA from the dropdown menu, and you can see the most current AUD/ADA rate.
3. Enter your receiving wallet address
We need a valid wallet address to send you the Ada coins you just ordered.
Important. Do not mistype your address. Cryptocurrency transfers cannot be refunded. The best and easiest way to avoid this mistake is to simply copy-paste your address or use the QR code if available, instead of individually typing each character of your address.
4. Pay with Australian dollars
Don’t you love it when you don’t have to use your credit card? At Easy Crypto Australia, we give you several payment options such as POLI Pay, A2A, or a regular bank deposit. It’s that easy!
5. Wait until your transaction is confirmed
Unlike crypto exchanges, we trade on the blockchain. This means that you may need to wait for the official confirmation by the blockchain explorer. Once your wallet balance has increased, you can know 100% that the Ada coins that you ordered are truly yours.
How to invest in Cardano (ADA)?
There are many different ways to invest in Ada coins, although the goal is pretty much the same — buy low, sell high. Here are some different styles of investing in Ada coins. Please keep in mind that you may not feel comfortable with all of the methods mentioned below.
Different ways to invest in Cardano (ADA)
1. Lump sum investing
If you are truly confident in the future value of ADA, and you found yourself an opportunity to buy the coins at the lowest price possible, you could invest in a large sum of ADA at once. This is known as “buying the dip” by some investors.
Cardano is a Proof of Stake network, meaning you can delegate your ADA to a staking pool to receive some reward for helping to secure the network.
3. Dollar cost averaging (DCA)
Dollar cost averaging (DCA) is the most common and possibly the easiest style of investing for any liquid asset, including Cardano’s cryptocurrency. The DCA strategy spreads the volatilty risk over time, while offering a chance to earn a decent return in the future.
You can easily apply this strategy using two free features offered by Easy Crypto — the portfolio tracker and the auto-buy features.
How to track your Cardano earnings
If you go to the navigation menu and click on Tracker, you’ll find a list of coins that you have bought through Easy Crypto. If you haven’t, then all it will display is a demo portfolio.
You will earn a profit if the market value of your crypto assets is higher than the average cost to buy those assets. For example, between 2019 to 2020, ADA price fluctuates between 0.03 USD and 0.09 USD. If you have bought ADA routinely every month, the average price of those purchases is going to be somewhere between these two values.
As of August 2021, the market value of Cardano (ADA) is above 1.50 USD, so that exceeds even the highest you’ve ever paid for ADA between 2019 to 2020. Of course, this early investment would have returned a substantial amount of profit.
How to automate your crypto investments
For some people, investing in cryptocurrencies routinely may be a challenging habit to build due to the fear of volatility. However, it is possible to routinely invest in cryptocurrencies just as you would routinely deposit your income into a savings account.
Thanks to auto debit, we don’t have to build up our saving habit on our own. Likewise, Easy Crypto offers the Auto-Buy feature. Click on Buy & Sell > Auto-Buy to learn more.
Automate, diversify, and track your net worth in crypto
Combining these two features will make you a super crypto investor. Take note, the world’s legendary investors aren’t necessarily the most intelligent short-term traders. Instead, they take the time to learn about the assets, their future outlook, and then routinely invest in them, along with other assets to keep their portfolio diverse.
They don’t even have to monitor the market 24/7! It would be enough for them to have a portfolio tracker to see the current market value of their invested assets.
Stay informed about the crypto space
Lastly, to be a crypto investor, you need to stay updated about the crypto space in general — like regulations, social adoption of crypto assets — as well as news that are specific to your chosen crypto coins.
Also, don’t forget to subscribe to our monthly newsletter to have the latest crypto insights, news, and updates delivered to our inbox.
Disclaimer: This is general information only and is not intended to be advice. Crypto is volatile, carries risk and the value can go up and down. Past performance is not an indicator of future returns. Please do your own research.
Last updated December 2, 2021