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Cryptocurrency

How to Buy Cardano in New York

If you’re in New York and looking to purchase some Cardano, grab a seat and a cup of coffee or tea because you’re about to learn everything it takes to buy your Cardano in New York.

Buying Cardano in New York

You can’t ignore the fact that many people you know or friends on the internet are getting wealthy from investing in Cardano these days. It is the third highest-grossing crypto by market cap. Also, it has the most environment-friendly platform as it uses a PoS system which makes it more generally acceptable than its competitors. But how do you buy it? Are there rules specific to the United States? Are there some subtle laws guarding New York in precise? What do you need to know? If you didn’t buy it then because you didn’t know how to go about your purchase, or didn’t know so much about it, now is the time to.

Cardano and its Platforms

Cardano’s native coin is called ADA. Many individuals and even corporate bodies admire ADA because of its distinct features. It is an advisable shot for people to take. We understand that it is a bit of a hassle to buy Cardano in New York because of her cryptocurrency laws. So this article is for our dear New Yorkers who want to invest in Cardano. Firstly, here are some exchange platforms that offer services to New Yorkers:

  • Coinbase 
  • Gemini
  • bitFlyer
  • coin source
  • SoFi
  • Changelly

Now that we know the exchanges that list Cardano let’s get straight to how to purchase the Cardano itself.  Before you get to that, we’d like you to remember, only select an exchange after you have verified their safety and security. 

That said, you can purchase your Cardano directly from your exchange, or you can buy another coin like bitcoin or ethereum and change it to ADA. This works if your exchange doesn’t list ADA.

How to buy Cardano 

  1. Sign up for your preferred crypto exchange

After deciding which crypto exchange to purchase your ADA on, you will need to sign up on the platform. To do this, the exchange might require some personal information. This may include:

  • Your registered name
  • Where you live
  • Your working email 
  • Your chosen payment method to fund your exchange account
  • Some identification; could be your passport or drivers licence, depending on what your preferred exchange requires

Some exchange platforms may also need you to enable your two-factor authentication before you can proceed. It is all worth it, though. Extra security on your account goes a long way.

  1. Make your Cardano purchase

Opened an account successfully, great. Now it’s time to purchase your ADA. You will need to select one of the accepted payment methods on the platform. This could be 

  • Bank transfer
  • Credit/Debit Card
  • PayPal

Follow the steps on your respective platform. Once you have successfully transferred the money to your exchange account, appropriate the portion you intend to purchase Cardano. The exchange will reflect a preview of your transaction. Only confirm your purchase when you’re completely sure the provided information is accurate. The transaction will take a few seconds or minutes, depending on your Cardano exchange platform. Now, unto the final step

  1. Cardano wallets and storage

It is important to consider keeping your Cardano in a crypto wallet. Crypto wallets are a means for investors to safeguard their purchased coins. However, this is not compulsory, but then who doesn’t want to keep their coins safe. Typically after you purchase ADA from your exchange, they’ll hold it for you on your portfolio. This might be a little easy to operate, but it makes your ADA prone to hacks. 

If your exchange platform doesn’t list ADA, you can buy bitcoin or ethereum and trade it in exchange for Cardano. However, one con of this method is that it costs more as you have to pay a trading fee, asides, it is not a bad idea to buy your ADA using different methods and choose the one that pays you best. 

There you have it. Do you reside in New York? You should consider getting some Cardano!

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