Buying Cardano on Europe’s leading retail broker for buying and selling digital assets is easy, fast and secure.
Past performance is no indication of future results. Crypto-assets are highly volatile. You could sustain a loss of some or all of your investment, so it is important to invest only what you can afford to lose. For a detailed overview of the risks, please review the Risk Disclosure.
Past performance is no indication of future results. Crypto-assets are highly volatile. You could sustain a loss of some or all of your investment, so it is important to invest only what you can afford to lose. For a detailed overview of the risks, please review the Risk Disclosure.
Cardano’s blockchain layers are easily upgradeable via soft forks. Also, new coins are generated and the blockchain is secured by a Proof-of-Stake algorithm called Ouroboros. According to the developers of Cardano, their blockchain is as secure as Bitcoin’s, while requiring a lot less energy.
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Purchasing Cardano (ADA) and other cryptocurrencies is simple and straightforward online. You can buy and sell Cardano (ADA) on various platforms, including crypto brokers and exchanges.
Investing in Cardano (ADA) and other cryptocurrencies can be done in a few easy steps. Follow this guide to get started with crypto trading on platforms like Bitpanda and build your digital asset portfolio.
Start by selecting a suitable trading platform that supports Cardano (ADA)
Consider features such as security, data protection, and user-friendliness
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Register with an email address and create a strong password
Provide necessary personal details
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Begin the verification process
Verify your identity to start trading Cardano (ADA)
Complete the online verification with a stable internet connection and a valid ID document
Use the Bitpanda website or mobile app to deposit fiat money or other tradable assets into your account
You can deposit via bank transfer, credit card, PayPal or Apple Pay
There are also options to use EPS and SOFORT transfers, giropay, SEPA direct debits and other online payment services such as Skrill and NETELLER
Once the funds are in your account, you can buy Cardano (ADA) and other cryptocurrencies
Simply select Cardano (ADA) for purchase, choose a payment method, and confirm the transaction
Buying cryptocurrencies like Cardano (ADA) involves risks and can lead to the total loss of the invested capital.
If you are interested in investing in cryptocurrencies like Cardano (ADA), Bitpanda offers a user-friendly and secure platform to get started.
Our platform features a user-friendly interface that makes buying Cardano (ADA) simple for both beginners and experienced traders. With the Bitpanda app, you can conveniently trade cryptocurrencies and other assets on your smartphone.
Bitpanda operates under strict regulatory guidelines and holds all necessary licenses for crypto brokers. Our business practices and holdings are regularly validated by external auditors. This ensures high security and transparency for every transaction.
At Bitpanda, you can invest in more than just cryptocurrencies. We offer over 3,000 different assets, including ETFs, CFDs, stocks, indices, and precious metals. Unlike other crypto exchanges, we guarantee stable prices based on the current market value.
Your Cardano (ADA) and other cryptocurrencies are securely stored in the wallet of your Bitpanda account. You can transfer your digital assets to an external wallet at any time.
If you have any questions or encounter issues while trading Cardano (ADA) or other assets, our customer support team is available 24/7 to assist.
Bitpanda offers products designed to help you start your crypto investment journey easily. With theBitpanda crypto indices, you can invest in a diversified portfolio of leading cryptocurrencies. The Bitpanda Savings plans allow for regular investments to build long-term wealth.
Forecasts predict a continuous increase in the Cardano (ADA) price due to the growing acceptance and use of cryptocurrencies. Those who invest early could benefit from long-term price appreciation.
The value of Cardano (ADA) can be affected by various factors, such as regulatory changes and global economic events. Therefore, it is essential to thoroughly research before investing. The following sections give an overview of the key events and factors impacting its price.
The past price trends of Cardano (ADA) do not indicate future performance.
Do you want to learn more about cryptocurrencies and their various applications? The Bitpanda Academy offers in-depth articles, tutorials, and resources to help you become a crypto expert.
The platform was created by Ethereum co-founder Charles Hoskinson in 2015
The Cardano network is a development of the Ethereum platform and is referred to as the ‘third-generation blockchain’
It is limited to a maximum of 45,000,000,000 ADA tokens
Cardano (ADA) is one of the ten strongest cryptocurrencies measured by market capitalisation
Ethereum co-founder Charles Hoskinson released Cardano in 2015 after a dispute in the commercialisation of Ethereum. To create a better platform for trading and investing, Cardano works closely with tech companies EMURGO and Input Output Hong Kong (IOHK) to resolve common blockchain technology issues such as scalability, interoperability and sustainability.
To find out more about Cardano, pricing and how to buy ADA tokens, simply register online at Bitpanda and create a portfolio to start investing.
ADA is based on the Proof of Stake validation process, which consumes about 99% less energy than mining on Proof of Work blockchains like Bitcoin.
Instead of mining (verifying transactions using high computing power and a lot of energy) transactions are confirmed by validators, a process known as minting.
Simply put, your ADA tokens are used as collateral to confirm transactions and create new tokens. The platform's transaction fees are paid with the Cardano blockchain's ADA cryptocurrency.
ADA is a token. Coins are viewed more as a currency or payment method, however tokens offer added value as digital assets. The difference is that coins do not need another platform to run, whereas tokens must be created on another platform.
The Cardano platform's development follows a scientific approach, using peer reviews to test potential changes for their impact. Current challenges include scalability, interoperability, and sustainability. With Proof of Stake validation, Cardano is much more energy-efficient than Bitcoin's conventional mining.
Continuous development relies on qualified research, systematic validation, and methodical implementation. Scientists worldwide collaborate to study Cardano's problems and functions, with independent experts testing and validating improvements.
The Cardano platform, like most blockchains, serves as a digital database.
Similarly to Ethereum, this network can also be used for smart contracts. These contracts are automatically executed when certain conditions are met, eliminating the need for an intermediary and allowing for smoother and more efficient transactions.
This process helps small to medium-sized companies save time and reduce costs.
Money can be invested in Cardano or ADA tokens both directly and indirectly.
Direct investments involve buying tokens that are stored in a wallet. The simplest method is through the web wallets on cryptocurrency platforms. The private and public keys, the access data to your purchased cryptocurrencies, are stored on the platform. The Bitpanda platform offers one way to invest in the Cardano price and buy ADA tokens in this way.
With an indirect investment, investors put their money into vehicles that reflect Cardano's price, such as exchange-traded notes (ETNs) or contracts for difference (CFDs).
To balance out fluctuations in the Cardano price, experts advise regularly purchasing ADA tokens, a method known as the cost-average effect. Higher and lower prices are only proportionally included in the value of the entire investment and the average price increasingly reflects the average Cardano price with each additional investment.
The Bitpanda Savings plans offer one option for regular investments. Participants use ADA tokens to confirm transactions and generate new coins during the validation process of the Proof of Stake blockchain.
Bitpanda users can also benefit from this using Bitpanda staking. Here you’ll receive weekly rewards in the form of new tokens for holding certain cryptocurrencies, including Cardano. These new tokens are also rewarded, similar to the compound interest effect, and for holding Cardano or ADA tokens, you can receive rewards of 3-5%.
Are you interested in diversifying your crypto portfolio? Learn how to distribute capital and risk across different coins and tokens with Bitpanda crypto indices.
Key points about Cardano:
Developed by Ethereum co-founder Charles Hoskinson in 2015
The goal of the project, as stated in the Cardano whitepaper, is to solve central problems of blockchain technology
Cardano is one of the ten most financially powerful cryptocurrencies
Investors can invest directly in ADA tokens or indirectly in assets that track the Cardano price
Cardano is virtually impossible to hack due to blockchain technology
Cardano is significantly more energy efficient than Bitcoin due to its Proof of Stake validation process
The maximum token limit of ADA is 45,000,000,000
New tokens are created through minting
Like Ethereum, it can also be used for smart contracts, increasing efficiency for small and medium-sized companies
ADA tokens are named after the mathematician Ada Lovelace
Since the launch of the ADA token in 2017 many developments in the crypto scene have influenced its price.
As with all cryptocurrencies, the value is determined by supply and demand, and fluctuations in the Cardano price trend occur when either changes. Different factors can influence investors' interest in ADA tokens and cryptocurrencies overall.
Cardano appeared on the crypto market in 2017 and the market capitalisation (the total value of all ADA tokens in circulation) was 600 million USD. The price of an ADA token at launch was 0.02 USD.
In the same year, Cardano quickly increased its price and reached a market capitalisation of 10 billion USD, with each ADA token costing 1.31 USD.
At the beginning of 2018, Cardano briefly reached a market capitalisation of 33 billion USD, soon after it fell to 10 billion USD, reducing the price to 0.02 USD.
The current all-time high was in September 2021 with a price of 3.10 USD per ADA token.
The key events and milestones of the ADA price chart are detailed below:
2017: 0.02 USD
2017: 1.31 USD
2018: 0.02 USD
May 2021: 2.46 USD
July 2021: 1.06 USD
September 2021: 3.10 USD
January 2022: 1.60 USD
December 2022: 0.24 USD
January 2023: 0.40 USD
The Cardano price rose rapidly in the general crypto hype of 2017. After 96 days, it reached its all-time high of 1.31 USD. Due to the correction that began in 2018 and the bear market (a phase of falling prices for different assets in an asset class), the price dropped to 0.02 USD per ADA.
After large investments by well-known corporations, interest rose in 2021 and the prices of multiple coins and tokens increased. The Cardano price chart reached 2.46 USD, it then fell to 1.06 USD during a short correction phase and then reached its annual high of 3.10 USD that September.
Following the ban in China and announcements of government plans to control and regulate cryptocurrencies, a new bear market began. The war in Ukraine and a rising inflation rate with the FTX platform crash and the collapse of the Terra Blockchain also reduced interest in investments and Cardano (ADA) fell to 0.30 USD. In January 2023, however, the cryptocurrency was able to regain stability.
As the Cardano blockchain’s functionality increases experts predict it will become a strong Ethereum competitor. Additionally, the interest of small and medium-sized companies in Cardano as a platform is also likely to increase. Another contender is Solana, already ahead of Cardano in market capitalisation.
Strong partnerships with IBM and the state of Georgia alongside projects in Africa indicate huge potential and overall, the Cardano price chart has significantly increased in value since its launch. However, past performance offers no indication of future Cardano price trends.
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We understand that cryptocurrencies can be complex. We are here to answer your questions about Cardano (ADA) and provide you with the information you need to make informed investment decisions.
Over 1,200 businesses accept Cardano cryptocurrency (ADA) as payment, including well-known names like Airbnb, Amazon, Nike, and Starbucks. Through our partner EMURGO's platform, Bidali, users can buy vouchers with ADA for online shopping at these companies.
The Bitpanda Card enables payments with Cardano. Your ADA assets are converted into the required currency at the current market rate allowing you to pay with Cardano wherever Visa is accepted.
At present, approximately 35 billion ADA tokens are in circulation. The maximum quantity of ADA tokens is capped at 45 billion.
The primary advantage of the Cardano blockchain is its Proof of Stake validation system.
This negates the need for the energy-intensive mining process over a Proof of Work blockchain, making Cardano significantly more efficient in energy and performance.
Cardano’s scientific development approach ensures high standards and security but can slow its progress compared to competitors.
Cardano seeks to address the most pressing issues plaguing this technology: scalability, interoperability, and sustainability. Due to its Proof of Stake process, Cardano is already considerably more sustainable than Bitcoin.
You can purchase Cardano either directly by buying ADA tokens or indirectly through financial products that mirror ADA's price. Indirect options include Exchange Traded Products (ETPs) or Contracts for Difference (CFDs).
For direct purchases, use cryptocurrency exchanges or trading platforms like Bitpanda, offering various investment options, such as savings plans or indices. We also provide staking benefits enabling you to earn rewards of 3-5% for holding ADA tokens.
ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
| Name | Bitpanda Asset Management GmbH, Bitpanda GmbH |
| Relevant legal entity identifier | 9845005X9B7N610K0093, 5493007WZ7IFULIL8G21 |
| Name of the crypto-asset | Cardano ADA |
| Consensus Mechanism | Cardano ADA is present on the following networks: cardano, binance_smart_chain. Cardano uses the Ouroboros consensus mechanism, a Proof of Stake (PoS) protocol designed for scalability, security, and energy efficiency. Here’s a detailed explanation: Core Concepts: 1. Proof of Stake (PoS): Validators (called slot leaders) are selected based on the amount of ADA they have staked, rather than solving complex computational puzzles. Validators propose and validate blocks, which are added to the blockchain. 2. Epochs and Slot Leaders: Cardano divides time into epochs (fixed time periods), each of which is subdivided into slots. Slot leaders are selected for each slot to validate and propose blocks. Slot leaders are chosen randomly based on the amount of ADA staked. More stake increases the probability of being selected. Validators are responsible for confirming transactions during their slot and passing the block to the next slot leader. 3. Delegation and Staking Pools: ADA holders can delegate their tokens to staking pools, which increases the pool’s chances of being selected to validate a block. The pool operator and delegators share the rewards based on their stakes. This system ensures that participants who do not want to operate a full validator node can still earn rewards and contribute to network security by supporting trusted staking pools. 4. Security and Adversary Resistance: Ouroboros ensures security even in the presence of potential attacks. It assumes that adversaries may attempt to propagate alternative chains or send arbitrary messages. The protocol is secure as long as more than 51% of the staked ADA is controlled by honest participants. Settlement Delay: To protect against adversarial attacks, the new slot leader must consider the last few blocks as transient. Only the blocks preceding these are treated as finalized, ensuring that chain finality is secure against manipulation attempts. This mechanism also allows participants to temporarily go offline and resynchronize as long as they are not disconnected for more than the settlement delay period. 5. Chain Selection: Cardano's nodes adopt the longest valid chain rule: each node stores a local copy of the blockchain and replaces it with any discovered valid, longer chain. This ensures that all nodes eventually converge on a single version of the blockchain, maintaining network consistency. Binance Smart Chain (BSC) uses a hybrid consensus mechanism called Proof of Staked Authority (PoSA), which combines elements of Delegated Proof of Stake (DPoS) and Proof of Authority (PoA). This method ensures fast block times and low fees while maintaining a level of decentralization and security. Core Components 1. Validators (so-called “Cabinet Members”): Validators on BSC are responsible for producing new blocks, validating transactions, and maintaining the network’s security. To become a validator, an entity must stake a significant amount of BNB (Binance Coin). Validators are selected through staking and voting by token holders. There are 21 active validators at any given time, rotating to ensure decentralization and security. 2. Delegators: Token holders who do not wish to run validator nodes can delegate their BNB tokens to validators. This delegation helps validators increase their stake and improves their chances of being selected to produce blocks. Delegators earn a share of the rewards that validators receive, incentivizing broad participation in network security. 3. Candidates: Candidates are nodes that have staked the required amount of BNB and are in the pool waiting to become validators. They are essentially potential validators who are not currently active but can be elected to the validator set through community voting. Candidates play a crucial role in ensuring there is always a sufficient pool of nodes ready to take on validation tasks, thus maintaining network resilience and decentralization. Consensus Process 4. Validator Selection: Validators are chosen based on the amount of BNB staked and votes received from delegators. The more BNB staked and votes received, the higher the chance of being selected to validate transactions and produce new blocks. The selection process involves both the current validators and the pool of candidates, ensuring a dynamic and secure rotation of nodes. 5. Block Production: The selected validators take turns producing blocks in a PoA-like manner, ensuring that blocks are generated quickly and efficiently. Validators validate transactions, add them to new blocks, and broadcast these blocks to the network. 6. Transaction Finality: BSC achieves fast block times of around 3 seconds and quick transaction finality. This is achieved through the efficient PoSA mechanism that allows validators to rapidly reach consensus. Security and Economic Incentives 7. Staking: Validators are required to stake a substantial amount of BNB, which acts as collateral to ensure their honest behavior. This staked amount can be slashed if validators act maliciously. Staking incentivizes validators to act in the network's best interest to avoid losing their staked BNB. 8. Delegation and Rewards: Delegators earn rewards proportional to their stake in validators. This incentivizes them to choose reliable validators and participate in the network’s security. Validators and delegators share transaction fees as rewards, which provides continuous economic incentives to maintain network security and performance. 9. Transaction Fees: BSC employs low transaction fees, paid in BNB, making it cost-effective for users. These fees are collected by validators as part of their rewards, further incentivizing them to validate transactions accurately and efficiently. |
| Incentive Mechanisms and Applicable Fees | Cardano ADA is present on the following networks: cardano, binance_smart_chain. Cardano uses incentive mechanisms to ensure network security and decentralization through staking rewards, slashing mechanisms, and transaction fees. Incentive Mechanisms to Secure Transactions: 1. Staking Rewards: - Validators, known as slot leaders, secure the network by validating transactions and creating new blocks. To participate, validators must stake ADA, and those with larger stakes are more likely to be selected as slot leaders. - Validators are rewarded with newly minted ADA and transaction fees for successfully producing blocks and validating transactions. - Delegators, who may not wish to run a validator node, can delegate their ADA to staking pools. By doing so, they contribute to the network’s security and earn a share of the rewards earned by the pool. The rewards are distributed proportionally based on the amount of ADA delegated. 2. Slashing Mechanism: - To prevent malicious behavior, Cardano employs a slashing mechanism. Validators who act dishonestly, fail to validate transactions properly, or produce incorrect blocks face penalties that involve the slashing of a portion of their staked ADA. - This provides strong economic incentives for validators to act honestly and ensures the network’s integrity and security. 3. Delegation and Pool Operation: - Staking pools can charge operation fees (a margin on rewards) to maintain their infrastructure. This includes fixed costs set by pool operators. Delegators earn rewards after pool fees are deducted, providing a balanced incentive for both operators and delegators to participate actively. - Rewards are distributed at the end of each epoch, where staking pool performance and participation determine the distribution of ADA rewards to all stakeholders. Applicable Fees: 1. Transaction Fees: - Transaction fees on Cardano are paid in ADA and are generally low. They are calculated based on the size of the transaction and the network’s current demand. These fees are paid to validators for including transactions in new blocks. - The fee formula is: a + b × size, where a is a constant (typically 0.155381 ADA), b is a coefficient related to the transaction size (0.000043946 ADA/byte), and size refers to the transaction size in bytes. This ensures that the fee adapts based on network load and the size of each transaction. 2. Staking Pool Fees: - Staking pool operators charge operational costs and a margin fee, which covers the cost of running and maintaining the staking pool. These fees vary between pools but ensure that operators can continue to provide their services while offering rewards to delegators. - After the operator's fee, the remaining rewards are distributed among the delegators based on the size of their stake. Binance Smart Chain (BSC) uses the Proof of Staked Authority (PoSA) consensus mechanism to ensure network security and incentivize participation from validators and delegators. Incentive Mechanisms 1. Validators: Staking Rewards: Validators must stake a significant amount of BNB to participate in the consensus process. They earn rewards in the form of transaction fees and block rewards. Selection Process: Validators are selected based on the amount of BNB staked and the votes received from delegators. The more BNB staked and votes received, the higher the chances of being selected to validate transactions and produce new blocks. 2. Delegators: Delegated Staking: Token holders can delegate their BNB to validators. This delegation increases the validator's total stake and improves their chances of being selected to produce blocks. Shared Rewards: Delegators earn a portion of the rewards that validators receive. This incentivizes token holders to participate in the network’s security and decentralization by choosing reliable validators. 3. Candidates: Pool of Potential Validators: Candidates are nodes that have staked the required amount of BNB and are waiting to become active validators. They ensure that there is always a sufficient pool of nodes ready to take on validation tasks, maintaining network resilience. 4. Economic Security: Slashing: Validators can be penalized for malicious behavior or failure to perform their duties. Penalties include slashing a portion of their staked tokens, ensuring that validators act in the best interest of the network. Opportunity Cost: Staking requires validators and delegators to lock up their BNB tokens, providing an economic incentive to act honestly to avoid losing their staked assets. Fees on the Binance Smart Chain 5. Transaction Fees: Low Fees: BSC is known for its low transaction fees compared to other blockchain networks. These fees are paid in BNB and are essential for maintaining network operations and compensating validators. Dynamic Fee Structure: Transaction fees can vary based on network congestion and the complexity of the transactions. However, BSC ensures that fees remain significantly lower than those on the Ethereum mainnet. 6. Block Rewards: Incentivizing Validators: Validators earn block rewards in addition to transaction fees. These rewards are distributed to validators for their role in maintaining the network and processing transactions. 7. Cross-Chain Fees: Interoperability Costs: BSC supports cross-chain compatibility, allowing assets to be transferred between Binance Chain and Binance Smart Chain. These cross-chain operations incur minimal fees, facilitating seamless asset transfers and improving user experience. 8. Smart Contract Fees: Deployment and Execution Costs: Deploying and interacting with smart contracts on BSC involves paying fees based on the computational resources required. These fees are also paid in BNB and are designed to be cost-effective, encouraging developers to build on the BSC platform. |
| Beginning of the period | 2024-01-28 |
| End of the period | 2025-01-28 |
| Energy consumption | 813207.01316 (kWh/a) |
| Energy consumption resources and methodologies | The energy consumption of this asset is aggregated across multiple components: For the calculation of energy consumptions, the so called “bottom-up” approach is being used. The nodes are considered to be the central factor for the energy consumption of the network. These assumptions are made on the basis of empirical findings through the use of public information sites, open-source crawlers and crawlers developed in-house. The main determinants for estimating the hardware used within the network are the requirements for operating the client software. The energy consumption of the hardware devices was measured in certified test laboratories. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation. To determine the energy consumption of a token, the energy consumption of the network(s) binance_smart_chain is calculated first. Based on the crypto asset's gas consumption per network, the share of the total consumption of the respective network that is assigned to this asset is defined. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation. |
| Renewable energy consumption | 17.204773384 (%) |
| Energy intensity | 0.00015 (kWh) |
| Scope 1 DLT GHG emissions - Controlled | 0.00000 (tCO2e/a) |
| Scope 2 DLT GHG emissions - Purchased | 273.85839 (tCO2e/a) |
| GHG intensity | 0.00005 (kgCO2e) |
| Key energy sources and methodologies | To determine the proportion of renewable energy usage, the locations of the nodes are to be determined using public information sites, open-source crawlers and crawlers developed in-house. If no information is available on the geographic distribution of the nodes, reference networks are used which are comparable in terms of their incentivization structure and consensus mechanism. This geo-information is merged with public information from the European Environment Agency (EEA) and thus determined. |
| Key GHG sources and methodologies | To determine the GHG Emissions, the locations of the nodes are to be determined using public information sites, open-source crawlers and crawlers developed in-house. If no information is available on the geographic distribution of the nodes, reference networks are used which are comparable in terms of their incentivization structure and consensus mechanism. This geo-information is merged with public information from the European Environment Agency (EEA) and thus determined. |
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