Frequently asked questions
Cardano is a blockchain-based system that can be used for financial transactions, smart contracts, and distributed computing. Read our guide on Cardano to learn more about this cryptocurrency.
ADA is the token and unit of account on the Cardano network, similarly to pounds being the units of account of the British pound sterling (GBP).
Investors are interested in its scientific origins and this will propel the technology, and its wider adoption. At the outset, rather than publishing a white paper, Cardano’s founders adopted a collection of design principles and engineering best practices.
The price of Cardano, or more precisely the ADA token, is a market price made up of supply and demand. If more people want to buy ADA than sell it, the price will rise. Conversely, if there are more sellers than buyers, Cardano's price will fall.
You can buy Cardano on crypto exchanges and CFD platforms on the Internet.
A crypto exchange (or cryptocurrency exchange) is a marketplace where buyers and sellers trade cryptocurrencies. Just like regular stock exchanges, a cryptocurrency exchange serves as a middleman who sets the market price at which an equal number of buyers and sellers can be found.
Is now a good time to buy Cardano? Frankly, we don’t know.
But there are several strategies when it comes to investing. One approach is to buy in when price slips. In the crypto community this strategy is known as "buying the dip" (BTD).
Another strategy is dollar-cost averaging: investing a certain amount of money on a set schedule, say $100 every Monday morning. Dollar-cost averaging seeks to average out the lows and highs over time.
No matter which strategy you choose, Cryptoradar’s price alerts help you to not miss a dip, and adhere to your investment schedule.
There are risks associated with any investment. Crypto markets are particularly volatile, with large upswings and downswings. Only invest as much as you can afford to lose.
When it comes to choosing a crypto exchange, there are also a couple of thinks to be wary of.
Before you can start trading, a crypto exchange will ask you to verify your identity. This is necessary because of anti-money-laundering laws. The verification process and time can differ significantly and take anywhere from minutes to weeks.
All crypto exchanges charge a fee or a spread to finance their operations. Fees can differ significantly among exchanges, so make sure to get a good deal.
Additionally, make sure that your preferred crypto exchange supports the payment methods of your choice, but be aware of any additional payment fees that may apply.
Last but not least, if you’re new to crypto, make sure that your chosen platform is easy to use and has good customer support. This helps you avoid making costly mistakes.
Getting started with crypto can be hard. Our detailed price comparisons and cryptocurrency guides have you covered.