How to Buy Cardano in South Africa – Your Essential Guide

Fact Checked by Gary McFarlane

Like most cryptocurrencies in 2017, Cardano received recognition on a large scale that it hit a high of $1.24 per coin. However, for about three years, it never got to where most could have expected but was trading around $0.02-$0.10 per coin. At that time, the future didn’t look so bright for Cardano.

Cardano may have been launched in 2017, but it was founded in 2015 by Charles Hoskinson – a co-founder of the Ethereum network, and since then, Cardano hasn’t looked back. Continues its upward trajectory currently priced at $2.98 with a market cap of $134B, it is currently ranked as the third largest cryptocurrency globally as of September 3rd, 2021.

There’s much to admire about Cardano as it’s a public blockchain for smart contracts that helps a user build smart contracts and create decentralized apps and protocols. In addition, the networks aim to solve several problems such as interoperability, scalability, and sustainability available on the other blockchain networks.

If you’re in South Africa and wondering how you can buy Cardano, this guide has been perfectly tailored for you – it will help you with all the answers you seek.

Buy Cardano at Capital.com –  South Africa’s #1 Platform

1
£20Exclusive promotion
Our score10
  • No commission or hidden fees
  • Officially regulated by FCA, CySEC, and NBRB
  • Hedging mode available

How to Buy Cardano in South Africa – A Step-by-Step Guide

Here are some simple steps in buying Cardano in a few minutes through the top broker, Capital.com.

  1. Open an Account with Capital.com – The easiest way to buy Cardano in South Africa is through Capital.com. a CFD broker. Sign-up for an account using your details to enjoy 0% commission on trading on the platform.
  2. Upload ID – Simply upload any government-issued ID (passport or driver’s license) and a recent utility for your account verification process.
  3. Deposit Funds – Deposit your funds using any supported payment option on the platform.
  4. Buy Cryptocurrency – Search and select the crypto Cardano, then purchase some.

That’s it! Your journey just started, your train just left the station, and now it’s your turn to enjoy the cryptocurrency world.

Where to Buy Cardano in South Africa

Cardano is undoubtedly a popular cryptocurrency, meaning you’ll have several cryptocurrency exchanges as well as online trading platforms allowing you to sell and buy the digital coin. Therefore, if you already have an account with an exchange regulated, then buying ADA would be a walk in the park in South Africa.

There’s a difference between buying Cardano with a cryptocurrency exchange and an online broker. For instance, an exchange enables the physical purchase of the coin, while a CFD allows speculation on the price without actually exchanging or owning it.

Here are the top-rated trading options that are the best bet for you to buy Cardano in South Africa:

1. Capital.com – Best Platform to Buy Cardano South Africa

Capital.com

Capital.com is a global CFD and forex broker with physical offices in Cyprus, London, and Belarus. It is referred to as a fintech company founded on April 7, 2016, with Ivan Gowan.

The company aims to enhance the world of finance by making it more helpful, accessible, and engaging.

This broker has lots of financial assets apart from Bitcoin. You can access stocks, commodities, ETFs, Forex, Indices, etc. Bear in mind that Capital.com allows investors to trade crypto as CFDs. So, you don’t have to worry about the storage or ownership of your Bitcoin.

Capital.com is regulated by the Financial Conduct Authority(FCA) UK and the National Bank of the Republic of Belarus (NBRB).

It’s also regulated by the Cyprus Securities and Exchange Commission (CySEC) and operates in over 183 countries globally. Capital.com is regarded as a reliable broker because it’s regulated by the top-tier FCA.

A table of the broker’s fees.

Items Fee Fee Terms
Deposit 0 No Deposit fee
Withdrawal 0 No Withdrawal Fee
Trading fee $3.1-$6.4

(45.2SGD -93.46SGD)

varies
Inactivity low No inactivity fee

 

 Pros

  • It has excellent customer support that provides a quick and detailed response.
  • The account opening process is easy, user-friendly, and fast.
  • It has low stock CFD fees.
  • It takes as low as $20 (27.04SGD) direct fund deposit, and $250 (338.01SGD) for bank transfers.
  • com charges a zero-commission fee for deposits and withdrawals.

Cons

  • The price alerts are not included in the web trading platform
  • The available product range is limited to CFDs like shares, cryptos, etc.
  • Minor account base currencies are also missing in the platform.

2. Binance – The Overall Largest Platform in Trading Volumes

Binance is one of the prominent platforms that offers reliable and quick crypto transaction experiences. The platform is easy to navigate, and within a few minutes, you can buy Chainlink in South Africa.

The platform is highly trusted and secured. It has a great operating system that ensures maximum security to its users. Some features such as the Secure Assets Funds for Users (SAFU), multi-tier and multi-cluster system architecture are unique handy tools.

As the world’s largest platform in trading volumes and liquid, Binance supports hundreds of cryptocurrencies.

Through the platform, you can access several crypto pairs for Chainlink, such as BTC/LINK, ETH/LINK, XRP/LINT, etc. Also, from Binance, you can buy and transfer Chainlink to another person anywhere, thereby transferring value globally.

To buy Chainlink from Binance, open an online account at the Binance website using your detail and proceed to deposit your funds. The platform allows deposits through bank transfers and credit/debit cards. The exchange has a fee of 3% for card deposits.

Additionally, using Binance gives you access to the digital wallet for your cryptocurrencies on the platform. So if you have no private wallet, you’ll still conveniently store and secure your digital assets.

Moreover, Binance offers great trading tools for its users. There’s a level 2 order book on the platform that active daily investors can leverage while scheduling their transactions.

This order book displays lists of the best ask and bid prices by crypto sellers and buyers. So Binance advanced mode (for professional) and classic mode (for beginners) provide every user the right tools for crypto trading.

Binance’s Transactions Fees

Transaction Fees
Trading commission 0.1%
Deposit from credit/debit cards 3% – 4%

Pros

  • A low fee of 0.1% for trading commission.
  • Has hundreds of listed cryptocurrencies.
  • The world’s largest platform for crypto trading volumes and liquidity.
  • A secured and reliable platform for crypto transactions.
  • Great platform that helps in transfer Chainlink’s value globally.
  • Special tools for professional investors

Cons

  • Too sophisticated for newbies in cryptocurrency.

Buying Cardano in South Africa: The detailed tutorial

Once you’ve decided on buying Cardano in South Africa, you can follow the full guide below. Again, the process is completely seamless and the most cost-effective platform to use is Capital.com.

Step 1: Open an Account

Visit the official website of Capital.com, click “register now”. Then input your email address and create your password.

After concluding the account sign-up process, you will have access to a demo account on the platform. This will assist you in learning the processes of buying or trading on cryptocurrency as a newbie.

Step 2: Verify Your Account

Account verification is one of the prerequisites for trading in Capital.com. Being under the regulation of some giant financial agencies such as the FCA and others, the broker maintains KYC compliance. Thus, every account must undergo verification.

The verification process requires an upload of any government-issued ID such as a passport or driver’s license. Also, you’ll upload a copy of your recent utility bill or bank statement that is not more than 3 months. After the upload, Capital.com sends a notification message to

Step 3: Deposit Your Funds

When you get a notification for the account verification, you can deposit your funds. Capital.com accepts the deposit of South African Rand. It later converts it to USD, one of the fiats for crypto transactions.

Log in to your online account and click the DEPOSIT button.

Then select any payment option that is suitable for you. The broker supports deposits through bank transfers, e-wallets, and debit/credit cards. The minimum deposit on the platform is $20. This is considerably low in comparison to other competitors in the industry.

With Capital.com, there’s no deposit fee for any method of transfer that you choose. While bank transfers may take a longer time to reflect in your account, transfers from cards and e-wallets are instantaneous.

Step 4: Buy Cryptocurrency

You can buy any cryptocurrency of your choice after funding your account. First, search for the digital asset your want to buy in the search box. Then select the crypto and USD pair that matches your choice. For instance, when buying Bitcoin, you will choose USD/BTC. Proceed by clicking the TRADE button.

Then, input the amount of the digital asset you’re buying and set your order. Ensure you confirm your order and click the TRADE button. The broker will buy your cryptocurrency according to your order.

That’s it! Your trading journey just started!

Understanding Cardano: What is it?

2020 was a financially turbulent year, and even the keenest investor had to hold their breath and flipped the calendars over to the New Year. However, a few companies are rising to the challenge – and quickly rising in price. Cardano is one of the notable firms.

Cardano is merely a decentralized public blockchain and cryptocurrency project, which is the first to come out of the scientific philosophy and the research-first driven approach. ADA is its native token.

For a few years now, Cardano has flown under the radar, but it could be poised for something big after all.

Cardano was launched in 2017, and it has often been referred to as the third-generation cryptocurrency. Ideally, it builds entirely on what Ethereum and Bitcoin have done but aims to be more scalable and sustainable. Therefore, it means that it’s more environmentally friendly, secure, and faster.

It has long been hailed as a potential “Ethereum-killer” (which is quite a claim), given the fact that Ethereum is the second-largest crypto, only trailing Bitcoin. Yet, as Ethereum looks to overtake Bitcoin, it seems that it already has a rival on the ranks trying to take its place.

Founders of Cardano

So, who’s the founder of Cardano?

First, Cardano earns comparison to Ethereum – its founder Charles Hoskinson was also a co-founder of Ethereum. Things didn’t work as expected and when he had a fall out with Ethereum’s founder, Vitalik Buterin. Hoskinson’s idea was to lead Ethereum in a commercial direction as well as accept venture capital; however, Ethereum founders wanted to take a less business-centered approach – and therefore, he left.

After leaving, he decided to improve Ethereum with Cardano, whereby the new project could keep most of the best Ethereum features but improve some of the weaknesses. Therefore, in simple terms, Cardano offers most of Ethereum’s compelling capabilities, like robust smart contracts.

What makes Cardano Unique?

Ideally, what makes Cardano a bit unique from the others is that it’s arguably one of the most prominent blockchains to use a Proof-of-stake (PoS) consensus mechanism successfully. In addition, unlike Bitcoin that relies on the Proof of Work (PoW) algorithm, PoS is a less energy-intensive mechanism.

Being the first blockchain platform to be built via peer-reviewed research, Cardano aims at solving several problems like interoperability, scalability, and sustainability. Scalability for a long time now has been the major challenge for cryptocurrencies.

Bitcoin, for instance, processes about 5 transactions per second, while Ethereum processes about 15 transactions per second. On the other hand, Cardano can process up to 257 per second; and plans to add an extra layer (known as Hydra) to its blockchain, which could mean that it could process up to 1m transactions per second – impressive, right?  Also, given that Cardano is a PoS blockchain, users staking their coins are responsible for validating the new blocks.

Moreover, just like any other cryptocurrency, ADA is a digital asset and can be used in storing value or even transferring funds.

Cardano is clearly an ambitious project with several potential uses for the technology across a plethora of industries. For example, in a real-world context, there’s a Cardano partnership with the Ministry of Education of Ethiopia, whereby Cardano’s blockchain stores tamper-proof records for several students. When they pursue higher education or jobs, their records and achievements will be available right in the blockchain.

There are several sectors that Cardano is helpful, such as in Health Care, whereby Cardano blockchain authenticates pharmaceutical products so that folks cannot purchase counterfeit medications.  In agriculture, it provides a reliable supply chain for farmers and merchants.

The available number of Cardano is limited – cryptocurrencies can have an unlimited or fixed supply. For instance, Bitcoin has a fixed supply, whereby there’ll never be over 21 million Bitcoin. Just like that, Cardano has the same fate with a maximum supply set at 45 billion ADA. Currently, there’re about 32 billion ADA circulating, which might not guarantee ADA price going up, but in case its popularity takes off, the limited supply might help increase demand.

Another thing that makes Cardano one of the most sought-after cryptocurrencies, is the fact that you’ll find it in almost every best cryptocurrency exchange. Moreover, the Hard Fork Combinator is another great innovation feature that allows the network to easily hard-fork without real interruption.

There Are two components for every transaction: the mechanism in which the tokens are sent as well as the conditions behind those movements. The first layer is the settlement layer that allows the user to send as well as receive ADA coins. The other layer is the computation that helps the user to create as well to enter into the smart contracts.

Unfortunately, like every cryptocurrency, Cardano is not exempted from risks (in fact, it’s something almost certain to happen on every single digital asset). First, you can’t be so sure of it to succeed in its objectives or even the fact that it might be worth anything going forward. But they’re the risks you will be willing to take with every cryptocurrency investment you make.

Why should I Buy Cardano?

You want to invest in a cryptocurrency that you won’t regret, right? Therefore, a growing crypto project is the best place to start.

There’s no denying that most cryptocurrencies are on an upward trajectory, but the pace at which Cardano is growing is clearly at the top. Unfortunately, given its low market capitalization, it doesn’t get all the focus that it deserves. Instead, all the press is on Bitcoin, with Ethereum following closely. But despite all that, Cardano is proving to be a force to reckon with.

In fact, since it was launched in 2017, Cardano has been booming, especially since mid-last year. So, what are the reasons for the boom?

Perhaps, the most important reason for the increase in price is the famous Shelley hard fork upgrade released last year in July. It’s an upgrade that has ideally had an immense impact on Cardano, given that it has transformed the network to a PoS (Proof-of-stake) protocol. Therefore, it means that users can hold their coins on the ADA network and receive rewards.

Furthermore, Cardano recently launched the new hard fork update known as “Mary” that helps developers to easily issue custom cryptocurrencies in addition to the blockchain.

So, what’s “Mary” exactly?

It is part of Cardano’s “Goguen” roadmap that aims to rival the Ethereum network, arguably the largest rival in the crypto industry. It’s designed to transform Cardano into a multi-asset network. Mary allows users to create non-fungible tokens easily. The recent updates mean that Cardano now has faster transaction per second rates than Ethereum. After all, Cardano’s goal is to develop a blockchain network that processes vast transactions at low costs.

There can be several reasons that might make you buy something, and the hype can be on top of any list. Therefore, the hype currently around Defi (decentralized finance) projects is hard to resist. Besides, Cardano has made partnerships as well as collaborations, including The Cardano Foundations, IOHK, IBM, New Balance, Emurgo, PwC, SirenLabs, and several others.

Cardano developers have also made it easy for you to buy it as they have ensured that all the technology developed passes through a strict process of peer-reviewed research. Therefore, it means that every idea related to the network has to be challenged before being committed. Such academic rigor ensures that the Cardano blockchain maintains its resilience as well as stability to ensure that several possible future issues are easily identified before they become a real problem.

How to Buy Cardano in South Africa

So you want to buy Cardano in South Africa? When it comes to buying cryptocurrency, what matters is if your preferred payment method would be helpful. Luckily, you will be spoilt with choices here. There’s an array of ways that you can buy Cardano, and without wasting any time, let’s explore all the available options.

Credit and Debit Cards

Using your debit or credit card to buy Cardano is arguably the easiest way to consider. Even though not every crypto trading platform would accept debit and credit cards, it’s the most commonly used method of payment.

Fortunately for you, Cardano accepts debit and credit cards as a mode of payment, meaning you’ll have to choose between them. Furthermore, the process is extremely straightforward. All you have to do is to visit the Capital.com homepage and then sign in to your online account and do your business.

Buy Cardano via Credit/Debit Card with Capital.com Now >

PayPal

Slowly but steadily, PayPal is joining the crypto world. In fact, it’s proving to be one of the best ways to use it as it offers a user-friendly platform on its mobile app. In addition, you can buy some cryptocurrencies (Dogecoin, Litecoin, and Ethereum), making it an excellent option.

Unfortunately, not all brokers accept PayPal as a payment method, but our recommended broker, Capital.com, accepts PayPal as a way of payment. Therefore, you don’t have to go through the hassle of exchanging anything.

Buy Cardano via Paypal with Capital.com Now >

Bitcoin

Another best option that you might want to consider using in buying Cardano in South Africa is Bitcoin. Therefore, if you have Bitcoin in your e-wallet, you only need a simple way to get hold of ADA. You need to navigate to your trade tab and convert your coins.

Buy Cardano via Bitcoin with Capital.com Now >

Is Cardano the Next Big Thing?

If you’re planning to buy Cardano, there’s every reason to be optimistic that you now own arguably “the next Bitcoin.” First, the Cardano management team is full of experience in terms of blockchain technology and still attracting the brightest minds in the entire academic world.

Additionally, they take thoughtful approaches in developing what they believe to be a blockchain environment for the future. Besides, with ongoing developments taking place within its ecosystem and in the entire crypto market, we could be poised to see Cardano hitting new heights.

However, that doesn’t mean that buying Cardano in South Africa has no risks. Perhaps, things might seem to be on the uptrend for Cardano currently, and you might be tempted to think that it’s the best bet, and you won’t go wrong about it.

Now, you don’t have to forget that it’s a speculative world that’s much similar to gambling, and there’s always an element of risk attached. So, therefore, it means that the possibility of losing some money is always there.

It’s a volatile market, and prices can suddenly go down and up dramatically within a short period; if you panic, you’ll surely lose money.

Conclusion

When you want to buy crypto, you need a platform that won’t give you difficulties. Luckily for you, if you want to buy Cardano in South Africa, you don’t have to look any further as Capital.com has your back. It offers zero commission, and it’s straightforward to use. Besides, it supports several cryptocurrencies and several payment methods that you’ll find applicable in South Africa.

Cardano, on the other hand, looks to be on course to fulfilling its “destiny” – dethroning Ethereum. The project has already secured crucial strategic partnerships, it has specific use cases, and its mission to become the largest smart contract platform has never been this clear.

Cardano is built on a scientific philosophy as well as based on clear peer-reviewed research. Besides, it has a limited supply with several platforms enabling trading of the coin. Therefore, the long-term picture for Cardano and its ADA token is very promising.

Now, that’s everything at your fingertips about how to buy Cardano in South Africa. Perhaps, the time is now to take action; sign up for an Capital.com account, and start your ADA journey.

1
£20Exclusive promotion
Our score10
  • No commission or hidden fees
  • Officially regulated by FCA, CySEC, and NBRB
  • Hedging mode available

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About James Diko PRO INVESTOR

James Diko is a content writer and also a Crypto enthusiast with years of experience as an investor/trader in the crypto market. James believes Cryptocurrency is the future of the Fintech industry, and it is his passion to enlighten people about it. As a result, James has written articles on many aspects of the Cryptoverse through thorough research and analysis, reviewing different trading platforms including crypto trading, forex, and stock trading. Now, James writes honest reviews about trading platforms and automated trading tools to guide inexperienced traders and help intending users make good choices.