How to buy Cardano (ADA) from Australia

Nikita Sheth avatar
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Andrew Boyd avatar
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Updated 9 Feb 2024

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  • Cardano is a secure, scalable, and sustainable blockchain platform.
  • Cardano uses a Proof of Stake (PoS) protocol which is more energy-efficient and cannot be mined like cryptocurrencies using a Proof of Work (PoW) protocol.
  • Cardano’s digital currency ADA can be purchased on any Cardano-supported crypto exchange.

If you are interested in buying Cardano (ADA) from Australia, the easiest way to buy is with a crypto exchange where Cardano is listed.

This is a step-by-step guide for where and how Australians can buy Cardano today.

Where to buy Cardano

Binance Australia

On website

Highlights

  • Sign up on Binance Australia to get a 100 USDT cashback voucher. Terms and Conditions apply.
  • Access the world's biggest platform for buying, selling, and trading crypto.
  • Trade and stake thousands of cryptocurrencies and trading pairs.
  • Deposit funds without worrying about any extra charges.

Pros

  • Low trading fees.
  • Easily deposit funds using credit or debit cards.
  • Practice with demo trading before diving into real investments.
  • Access powerful charting and trading features designed for experienced traders.
  • 24/7 live chat support.
  • AUSTRAC regulated.

Cons

  • The platform's user interface can be complex for beginners, making it harder to navigate initially.
  • Ongoing regulatory challenges in various countries could raise concerns for some users regarding its long-term stability.
Swyftx

On website

Highlights

  • Access over 440 assets, including Bitcoin, Ethereum, Ripple, Litecoin, and DeFi tokens like UniCoin.
  • Choose from multiple payment options, including PayID, OSKO, POLi, and bank transfers for deposits and withdrawals.
  • Learn the basics of crypto trading with Swyftx’s demo mode, allowing risk-free mock trading.

Pros

  • Australian-based platform with AUSTRAC regulation.
  • Access to 440+ crypto assets.
  • Quick customer support—live chat replies within 5 minutes.
  • Integrated tax reporting for easy tracking.
  • Supports trading in AUD, USD, and NZD.

Cons

  • Limited access to advanced trading markets.
  • Trading fees start at 0.6% for regular users, higher than some competitors.
CoinSpot

On website

Highlights

  • Trade a wide variety of over 530 cryptocurrencies, including top options like Bitcoin, Ethereum, and Litecoin, suitable for both beginners and seasoned traders.
  • Simple and intuitive interface for easy navigation and management of your cryptocurrency investments.
  • Focuses on strong security with two-factor authentication (2FA) and cold storage for your digital assets.
  • Based in Australia and fully registered with AUSTRAC for compliance and trust.

Pros

  • Trade at just 0.1% fee and withdraw in AUD for free.
  • Purchase crypto packages (Bundles) in a single transaction.
  • Multiple deposit options with free PayID and Direct Deposit.
  • Access to the CoinSpot NFT Marketplace.
  • User-friendly mobile app for easy trading on the go.
  • Earn $10 in BTC by referring a friend.
  • 24/7 customer support is available.

Cons

  • Margin trading is not available, as it focuses on buying, selling, and swapping a wide range of cryptocurrencies.
  • Fewer selections of cryptocurrencies compared to larger global exchanges.
eToro Crypto

On website

Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.

Highlights

  • Access thousands of assets across multiple categories.
  • Copy trades of popular investors that trade Crypto.
  • Access powerful analysis tools and innovative social features.

Pros

  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.

Cons

  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.

Step 1: Find an exchange that sells Cardano

Since Cardano is among the most popular coins, lots of the top crypto exchanges offer it. If you're comparing crypto exchanges where you can buy Cardano, the most important factors to consider are security and charges.

Step 2: Set up and verify your account

Before you are able to purchase Cardano with an exchange, you must first create an account and then verify your identity for regulation and security. This is a simple procedure that takes only a few minutes to complete. Most likely, you'll need to supply your name, birth date, your country of residence, and a phone number. You might also be required to provide further proof of identification such as a copy of your driving licence, passport, or other government-issued ID.

Step 3: Transfer funds

You can add funds to your account in a variety of ways. You can deposit fiat currency (AUD) from your bank account, credit or debit card, PayID, PayPal, POLi, etc. It might take a few days for cash to be cleared. You can also fund your account with crypto. Some exchanges require a minimum deposit.

Step 4: Decide how much to invest

It is important to set a firm budget for how much to invest in Cardano. Since the value of Cardano can be volatile, you should only invest what you can afford to lose.

Step 5: Purchase Cardano

Once your account has been verified and funded, you can buy Cardano. Depending on the exchange you select, you might be able to create a recurring order and automatically buy more Cardano on a regular basis. Some exchanges offer the option of using stops and limits.

Where to store your Cardano

When it comes to storing your Cardano, you have a multitude of options including your exchange wallet, Cardano wallets, and other third-party wallets.

If you want anytime access, you should store your ADA in a hot wallet. However, if you don't require frequent access, consider storing your coins in a cold wallet for greater security.

Disclaimer: We put our customer’s needs first. The views expressed in this article are those of the writer’s alone and do not constitute financial advice. Advertisers cannot influence editorial content. However, Finty and/or the writer may have a position in the cryptocurrencies mentioned. Finty is committed to providing factual, honest, and accurate information that is compliant with governing laws and regulations. Do your own due diligence and seek professional advice before deciding to invest in one of the products mentioned. For more information, see Finty’s editorial guidelines and terms and conditions.

As seen on

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