How to Buy Cardano ADA in CANADA for Beginners - 2021 Step by Step Tutorial

In this video I will show you exactly all the steps that you need in order to buy Cardano ADA in Canada. Works for everyone and it is super easy! The instruction is relevant for 2021. I am using iPhone, but it works the same on any other device.

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If you are new to cryptocurrencies, or you are scared because you don’t know how to deal with them, don’t worry, I’ve been just like you.

Buying Cardano’s ADA is extremely easy. The process literally takes less than two minutes.

And if you want to continue receiving such short tutorials, feel free to subscribe to my channel and like this video. This really helps a lot, thank you!

Alright, so the whole process can be divided into three parts.

First, you need to create a wallet to store your Cardano's ADA and locate your wallet address.

Second, you need to buy ADAa from one of the crypto exchanges.

And third, you need to transfer your ADAs from an exchange into your wallet.

Wallets can be either cold storages, or hot storages.

Cold storage is this USB type looking piece of hardware. While hot wallet is basically a software on your computer or an app on your phone.

Cold storages give you maximum security, but they cost money.

While hot storages are still pretty safe, convenient and they are free.

If you are buying small amounts of Cardano’s ADA, hot storages are more than enough. And the one I am using is called Exodus.

In order to find the address simply tap on ADA and then tap on this arrow on the right. Selecting ADA specifically is very important because different cryptocurrencies have different wallet addresses. And if you, for example, send ADA into bitcoin wallet, your ADAs will be most likely lost forever.

And here you go. This QR code and long string of numbers and letters is your wallet address.

Then you’d need to buy Cardano’s ADA. For this, go to one of the crypto exchanges, such as Coinbase or Binance. But they are not so flexible for Canadians. Most of them allow buying Cardano’s ADA using only debit card, which comes at an extra fee.

But unfortunately, there are no good Canadian equivalents as of today.

Let’s use Coinbase in our example. Tap on this blue circle at the bottom, select buy, select Cardano, enter how much money you want to spend and press buy. You can only pay using your debit card, and it comes with extra 3.99% fee.

And that’s basically it. You have just bought Cardano’s ADA. It can be stored right here on the exchange. Or you can withdraw it into your wallet for extra protection. Some storages even allow you to receive interest on your crypto.

In order to withdraw crypto from the exchange into your wallet, you’d need your wallet address that we found previously.

Simply copy this long string of letters and numbers, go back to Coinbase, tap on blue circle at the bottom and select send.

Then just switch from BTC wallet to ADA wallet, switch from fiat currency to cryptocurrency if needed, type the amount of Cardano's ADA you want to withdraw and tap continue.

It will then ask you for a wallet address and you simply paste it.

ADA will arrive into your wallet shortly.

This was a very basic yet sufficient instruction of how to buy Cardano ADA. If you want more details about how to send, receive, store, and cash out any cryptocurrency, feel free to check my other video.

If you find my content interesting, please consider subscribing to my channel. It helps a lot as a beginner creator. And let me know if there is anything you would like to know about personal finances and investing.