How to Buy Cardano on eToro?

eToro is one of the leading online trading platforms with a simple-to-ease interface. Besides providing features like copy trading and social trading, it gives access to many financial assets. Among cryptocurrencies, Cardano is one of the promising projects with future growth potential. We are going to see how to buy Cardano on eToro in this guide.

With innovative trading tools and comprehensive analysis, eToro is suitable for both beginners and experienced traders. Without further ado, let’s discuss the process to buy Cardano on eToro!

How to Buy Cardano on eToro?

[converter id=”ada-cardano” url=”https://bit.ly/3KM6C2g”]

Step 1 – Register and Create an Account on eToro

The first thing you would need to do, before burning Cardano on eToro exchange, is to register on the platform. Similar to other exchanges and applications, you have to enter basic details – name, address, password, email ID, etc. While registering create a password that is strong enough to be unpredictable and easy enough so that you can remember it.

Step 2 – Verify Your Account and Identity

After registering, log in to your account with your username and password. Now, you must verify your account as well as your identity. This step is crucial because you wouldn’t want to get in trouble with the financial authorities. Verifying your identity ensures that you are compliant with the KYC and AML guidelines.

First, you need to verify your account either by verifying your email address or by using text messaging. Next, you must upload your government-issued identity card and other documents to verify your address. Now that you have verified your identity, there’s only one step that could stop you from buying Cardano on eToro – depositing funds into your account.

Step 3 – Add Money to your eToro Account

Having funds in your account goes without saying for buying anything. Similarly, to buy Cardano on eToro, you just add money to your account. You can choose your preferred payment method among the ones supported by eToro – bank transfer, online payments, and card payments.

Before choosing a payment method, it is important to keep in mind that each method has its own fee structure and processing time. Enter the payment details and the amount you would like to add to your eToro account before confirming the transaction. Now, you are done with all the steps you needed to buy Cardano on eToro.

Step 4 – Search for Cardano on the Watchlist

In the next step, go to the “Watchlist” section on your account’s dashboard, you can see all the tokens that you can buy. Here, you can search for Cardano on the search bar and find the token. When you click on the token, you can see all the information related to the token like market performance. Here, you can also find the “Buy” option to proceed with buying Cardano.

Step 5 – Verify the Details and Buy Cardano on eToro

After clicking on the “Buy” option, the next question is whether you would like to spend a certain amount of money or buy a certain number of tokens. You can either enter the amount or the no. of units of Cardano to buy. Next, you must click on the “Open Trade” option to continue buying Cardano on eToro.

Review all the details and then click on “Confirm Trade” to confirm buying Cardano. Congratulations, by this time you would have received the bought Cardano on your account. You can visit the “Portfolio” section and see the acquired Cardano tokens in your eToro account.

Conclusion

Buying Cardano on eToro is a simple process that requires a few steps. The eToro platform is welcoming with its user-friendly interface. You can register and create an account within a few minutes and explore its features. The platform even allows you to customize your dashboard using your preferred features.

With the above-mentioned clear step-by-step guide, you can buy Cardano on eToro without any hassle. You can also explore other tokens by easily navigating through the platform. Lastly, do not forget to do your own research to make the most of your investments!

FAQs

Can Cardano reach $100?

Considering the current crypto market conditions as of July 2023, it is unlikely for Cardano to reach $100. The price of one Cardano is $0.29 as per CoinMarketCap as of now. Cardano needs to bring unique applications to the crypto community and gain mass adoption to witness considerable growth in its price.

Is Cardano a good long-term investment?

Cardano is PoS blockchain network that is aiming to become a self-sustaining network with its Voltaire upgrade. It supports the development of dapps and is also scalable. So, Cardano is a good long-term investment but you also need to keep monitoring the project’s performance and be updated.

What is Cardano’s unique selling point?

Initially, Cardano’s unique selling point was using the Proof-of-Stake consensus mechanism. But now many blockchains are working based on the PoS system. Another unique feature of Cardano is it separates accounting and computational blockchain layers to improve efficiency.