How to buy Cardano in Canada

Bitbuy makes it easy for Canadians to buy Cardano in Canada

Buy Cardano (ADA) Cryptocurrency

ADA is the native token of the Cardano network (the “Cardano Network”). The Cardano Network is an open-source, smart-contract platform. The development of the Cardano Network is overseen by the Cardano Foundation, an independent non-profit organization. The Cardano Foundation works closely with Input Output HK (“IOHK”) and EMURGO, which provide development support to the Cardano Foundation. The founders of IOHK, Charles Hoskinson and Jeremy Wood, were the initial creators of the Cardano Network.

Through the use of layered design, the Cardano Network has implemented or intends to implement a number of innovative features, such as network delegation, sidechains and light client data structures.

The Cardano Network uses a proof-of-stake (“PoS”) protocol consensus mechanism called “Ouroboros” to validate transactions on network.

Ouroboros processes transaction blocks by dividing blockchains into “epochs,” which are further divided into “time slots.” A “slot leader” is elected for each time slot and is responsible for adding a block to the chain. Ouroboros distributes network control across stake pools (i.e., node operators with the infrastructure required to ensure a consistent and reliable connection to the network). For each time slot, a stake pool is assigned as the slot leader, and is rewarded for adding a block to the chain. ADA holders may delegate their stake to a specific stake pool, increasing its chance of being selected as the slot leader, and share in the stake pool’s rewards. The use of PoS protocols is generally more energy efficient than using proof of work protocols, which is what is deployed on the Bitcoin network, and the Cardano Foundation suggests that the other features of Ouroboros make it a more scalable and secure consensus mechanism than others.

Like ether, the native digital currency for the Ethereum network, ADA can function as a means of exchange and/or a store of value, with its value also being influenced by the additional use cases associated with its network.

 The Cardano Network competes directly with the Ethereum network and similar projects for market share. Like the Ethereum Network, the Cardano Network will implement an additional application layer that significantly lowers the entry barrier for developers to create their own smart contracts and decentralized applications (“apps”). Developers on the Cardano Network will be able to program dapps with far fewer restrictions compared to the Bitcoin network. Dapps are not governed by any central body and are instead controlled by the logic written into the smart contract, which self-executes once its predefined terms are met. The Cardano Network anticipates supporting dapps on the Cardano Network through the use of Plutus, a purpose-built smart contract development language and execution platform using the functional programming language Haskell, and Marlowe, a high-level, domain-specific language for financial contracts which is built on Plutus.

How to Buy Cardano (ADA)

Eager to buy Cardano (ADA) but not sure how? No worries! Bitbuy is the simplest and most secure platform to buy Cardano (ADA). Bitbuy always ensures the lowest associated fees and highest security when buying, selling or trading cryptocurrency.

How to Invest in Cardano (ADA) in Canada

Investors can easily invest in Cardano (ADA) by creating an account with Bitbuy, adding funds to their account directly through e-Transfer or bank wire and buying Cardano (ADA) directly through the Bitbuy platform. Experience problems or need questions answered along the way? Do not fear, Bitbuy is always here. Our customer support team will ensure your investment journey is smooth throughout.

How to buy Cardano (ADA) in Canada

Buying Cardano (ADA) in Canada as well as other digital currencies is simple and secure with Bitbuy. Here is how it works:

  1. Create Your Account: When you sign up to create an account on Bitbuy, you will be asked to confirm your email address, phone number, and verify your identity.
  1. Add Funds: Before you can buy ADA in Canada, add funds to your account directly with Interac e-Transfer or bank wire. 
  1. Buy and Sell ADA: Once you have sent money to your account, you can buy ADA instantly.  Bitbuy also makes it easy to sell ADA in Canada. Exchange your ADA for CAD and withdraw the funds back into your bank account.

If at any point you need help signing up, verifying your account, adding funds, or buying and selling ADA , just contact customer support  for same-day assistance.

Where to buy Cardano (ADA) in Canada

Bitbuy is one of the best and most secure places to buy Cardano (ADA) Canada. Here is why:

Safe and Secure 

Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 99% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy,  it is crucial users know that their digital assets are is safe with us.  

The Lowest Fees 

Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy Cardano (ADA).

Award-winning Customer Support 

Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient. 

We pride ourselves in our exceptional  customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.

Easy Funding 

Interac e-Transfer is the most popular way to pay online in Canada. Canadians want to buy Cardano (ADA) with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy ADA in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you then use to buy and sell cryptocurrencies in Canada.

Cardano (ADA) Wallet

Looking for a place to store your ADA?  Bitbuy is the perfect place to start. Bitbuy has a built in wallet in each user’s account that you can use to store your ADA safe and securely.

Where to trade Cardano (ADA)

Website (instructions for the mobile app below)

1) Navigate to the 'Express Trade' section of your account

When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To institute the trade click the 'Sell' button which will appear in red.  

2) Select ADA as the Cryptocurrency you wish to sell

Click the drop-down and search ADA to begin the sale.  

3) Complete your sale

Enter the amount of ADA that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary'. When you are ready, click the 'Sell' button to complete the transaction.

Mobile App

1) Navigate to the 'Accounts' section of your account

Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.  

2) Locate the cryptocurrency you want to sell  

Locate ADA and click on the 'Sell' button.  

3) Complete your sale

Enter the amount of ADA you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!

 

How to buy Cardano in Canada

1
Create an account
Provide some basic details about yourself and get instantly verified
2
Fund your account
Fund instantly using Interac e-Transfer®
3
Buy Cardano
One click, and you're done

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About Bitbuy

Bitbuy was designed for both new traders seeking a simple interface and for advanced traders who know their way around the crypto world. We understand that getting started with cryptocurrency can seem a little daunting and our goal is to make the process easier for you.

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