Best exchange to safely buy Cardano — ADA
Cardano, also known as ADA, is currently the third biggest cryptocurrency by market cap.
Due to CoinGecko ADA is:
Cardano is a decentralised platform that will allow complex programmable transfers of value in a secure and scalable fashion. It is one of the first blockchains to be built in the highly secure Haskell programming language. Cardano is developing a smart contract platform which seeks to deliver more advanced features than any protocol previously developed. It is the first blockchain platform to evolve out of a scientific philosophy and a research-first driven approach. The development team consists of a large global collective of expert engineers and researchers.
There are multiple ways to buy ADA depending on your preferred methods, here are some:
- Centralized exchanges: Binance, CoinBase, etc.
- Decentralized exchanges: PancakeSwap, ApeSwap, etc.
- Aggregators: Rango Exchange, 1Inch, etc.
There are pros and cons to each category, we will describe them in detail.
TLDR; We recommend Rango Exchange if you wish to have the best price and easiest interface, without compromising security.
Centralized Exchanges
Centralized exchanges, e.g. Binance and CoinBase, are the most popular way to buy ADA.
Pros:
- Very popular
- More familiar UI
- Supports buy or sell orders with orderbooks
- High liquidity
Cons:
- Controlled by the company
- Your money in their hands
- Needs KYC
- Money can be hacked and stolen
- Not all coins are listed
Although centralized exchanges are popular and beginner-friendly, they might not be your best choice in some cases. If you want to stay anonymous or buy specific coins and tokens that are not listed in exchanges, you should use other solutions.
Decentralized exchanges
Decentralized exchanges, also known as DEX, are innovative solutions and relatively new to the market. They are fully decentralized and are not controlled by any single entity. They are getting hotter in recent years and are being widely adopted by the community and retail investors.
Pros:
- You have your own Wallet
- No KYC
- Decentralized and controlled by the community
- Many more coins are listed
Cons:
- Complex UI
- Lower liquidity
- No orderbooks
DEXes are the greatest ways to trade if the user wants to keep his/her own money in his/her own hands. There are also plenty of new coins and tokens to invest in that may not be listed in centralized exchanges yet.
DEX Aggregators:
DEX aggregators are wrappers on DEXes that aggregate:
- List of all tokens from all DEXes
- Sum up liquidity from multiple sources to provide higher liquidity
- Break big orders into smaller chunks to generate the best price
It is normally hard to search for new tokens in DEXes, as users should search multiple places to find the right places for a specific coin and compare prices manually to find the best one. Aggregators do all these comparisons automatically.
Rango Exchange:
Rango exchange is a new and innovative solution to various users, from expert traders to retail investors, which integrates dozens of DEXes, aggregators, and bridges to provide the highest liquidity, best price, and easiest UX in the market.
Rango has various advantages compared to other solutions in the market:
- Safety of DEX
- Finding the most efficient routes that are not supported in other solutions
- The best price due to better routing algorithm
- Reduced complexity of switching between many UIs
How to buy ADA
Here are 3 easy steps to buy ADA in Rango Exchange:
Step 1: Open the app and choose USDT and amount in the first box, ADA in the second box
Rango shows you the best possible path graphically clearly and understandably.
Step 2: Click on “Connect Wallet” and connect your wallet which contains your USDT token, MetaMask in our case:
Step 3: Click on the “Swap” button and follow the easy instructions. You’ll have your ADA in your MetaMask in a couple of minutes. Hooray!
Conclusion
Although all solutions are mature and well-known, still there are pros and cons to each one. You should choose between them depending on your own requirements and criteria. We have chosen Rango Exchange due to three important criteria of security, the best price, and ease of use.
Write down your opinion and share your experiences with us in the comments.
