Disclaimer: This guide is not Buy recommendation.

In this post I’ll take you step-by-step through how to buy Cardano in NZ from a reputable broker and your different payment and storage options.

What is Cardano?

Cardano is a smart contract platform founded in 2015 by one of the co-creators of Ethereum, Charles Hoskinson.

Cardano’s goal is to become a platform capable of running financial applications at scale used by everyday individuals, especially the developing world.

Cardano aims to separate itself from competing blockchains in several ways. 

First, it is built in layers – a settlement layer for payments, and then a computing layer for applications. This is in comparison to something like Ethereum, which is only built on a single layer, creating backlogs and making upgrades difficult.

Second, its focused on interoperability. Cardano doesn’t necessarily look at competing blockchains as competing blockchains. Rather, it believes many blockchains will be in operation and interoperability is a necessary development.

Thirdly, Cardano is meticulous about research and peer review. It is the only blockchain project that is built on strictly peer-reviewed, academically researched code, rather than whitepaper proposals that, according to Cardano’s founder, “kind of, sort of work”.

Cardano terms itself a “third generation blockchain”.

If Bitcoin is a first generation blockchain, and Ethereum a second generation, then Cardano believes third generation blockchains should do everything Bitcoin and Ethereum can do (transfer of value, smart contracts) while also being infinitely scalable, be interoperable with all other cryptocurrencies rather than just one, and be self-sustainable (rather than constantly relying on funding for development).

How To Buy Cardano In NZ

The option I recommend right now is EasyCrypto.

They are a full-service crypto and Bitcoin brokerage owned and operated in NZ.

Here is why it’s my top recommendation:

• Orders are filled quickly at market prices.
• Very low fees.
• Excellent customer service.
• Over 100 other cryptocurrencies available.
• They are a registered NZ Financial Services Provider and FDRS member.
• Pay by bank deposit, credit or debit card, Poli or Account2Account. 

How to buy Cardano on EasyCrypto

The reason I like EasyCrypto is that the process is quick, and everything is done in NZD.

To buy Cardano, there are six simple steps.

Step 1: Open an EasyCrypto account

First, click here to head to their website and open an account:

You can sign up with your socials or an email address just like any other online service.

That’s it!

You now have a crypto brokerage account giving you access to hundreds of cryptocurrencies.

Step 2: Verify your account

As a registered Financial Services Provider in NZ, they need to verify your identity.

This might feel like a nuisance, but try to remember it is actually to protect you.

Don’t buy Bitcoin or crypto from anyone who isn’t registered in New Zealand, especially if you’re new to the market.

People get scammed daily trying to get a deal from obscure sellers.

Verification should only take you a few minutes and only requires a driver’s license or passport:

Once you’ve done that, you’re ready to buy!

Step 3: Choose your coins and quantity

For this example, I’m going to walk you through buying $200 of Cardano.

Head to the homepage after you’ve signed up and you should see a page with all the coins you can buy:

Click “Buy”, then click “Cardano” and then click “$200” as I’ve shown in the screenshot above.

The prices are all in NZD.

Step 4: Choose your Cardano address

On the next page, you’ll get asked to enter your Cardano address.

This is where your Cardano will be sent to.

Cardano addresses work exactly the same as Bitcoin addresses.

If you don’t have one, you have two options.

You can click the “I don’t have a Cardano address” button and EasyCrypto will help you set up a private wallet.

I also have a guide that will help you set up a private wallet here.

However, for beginners, my advice is to forgo a private wallet and set up an address at an exchange instead.

This goes contrary to the popular advice, which is to always keep your coins in a private wallet, but personally, I think beginners who are just buying their first few hundred dollars of crypto are not yet ready for private wallets.

However, be aware that carrying crypto on an exchange contains risk! Your funds can be locked or lost in the event the exchange is compromised. However, carrying crypto in a private wallet also contains risk. Personally, if this is your first purchase, and if it’s only for a small amount of crypto (say, a few hundred dollars), I think an exchange contains less risk. You can read more about my reasoning and why I recommend exchanges for beginners here.

When you start building your crypto portfolio to higher levels (say, past $1,000) then I would suggest looking into more secure options such as private wallets and hardware wallets. If that sounds like you, check out my guide on private wallets here.

If you’re happy to start with an exchange wallet, the exchange I recommend people start with is Binance.

It’s the exchange I’ve been using since I first got into crypto.

Head to their homepage and register an account.

Once you’ve registered, head to the menu in the top right and click “Wallet”.

Then click “Fiat/Spot Deposit/Withdraw”

Then in the top right, click Deposit:

This should take you to the deposit page where you can find your address.

Where it says “Coin”, choose Cardano.

Where it says “Network”, choose Cardano.

This should display a string of characters.

This is your Cardano address.

Copy/paste your address, then go back to your EasyCrypto order and paste it into the address field:

Note: To add a memo you will need to click the “Add memo” option at the bottom of the screen.

Step 5: Choose a payment option

The next screen will give you your payment options.

I always use bank deposit because it’s free, but choose whichever is most convenient for you:

Step 6: Make payment and wait for your Cardano to arrive

EasyCrypto will then give you payment instructions.

If you choose card, Poli or Account2Account, your order will execute immediately.

Your Cardano should arrive within a few minutes.

If you chose bank deposit, your order will execute whenever your bank deposit clears.

That’s it!

You’re now the proud owner of Cardano.

You will see it in the “Fiat/Spot” Wallet section in your Binance account.

Earn Interest On Your Cardano:

It is possible for you to stake your Cardano.

If you have your Cardano in a private wallet, you can stake it directly through Adalite.

You will then receive staking rewards regularly for holding ADA and participating in the network.

Note: This contains third party risk. Stake at your own risk.

If you’re holding your ADA on Binance, you can also stake it through Binance’s Earn section.

To earn interest on your Cardano, follow these steps:

First, click “Earn” in the menu.

This will take you to the Binance Earn page.

Select Cardano as your coin, and you will see the staking/deposit options that will allow you to earn yield:

Simply choose one of those instruments, and deposit your Cardano.

Your deposit will show in your Binance Earn dashboard, and at the end of your subscription term, your interest will get paid into your Spot wallet.

As you can see, yields are quite high on Cardano.

As a currency that runs on proof-of-stake, just holding the currency in a wallet allows you to earn staking rewards.

Binance will manage all the staking procedures for you. All you need to do is deposit and earn!

Warning: Depositing your Cardano/crypto for yield contains risk. Make sure you read the product disclosures and understand the risks before depositing.

Who should use this method to buy Cardano in NZ?

In my opinion, EasyCrypto combined with an exchange wallet is going to be the best option for 95% of first-time buyers, and for people who are new to crypto.

When it comes to crypto, most people are interested in buying $200 or $500 or maybe a few thousand dollars as an investment to begin with.

EasyCrypto is absolutely perfect for this and you won’t find a service better suited for it. You are not required to do any foreign exchange, and it’s fully regulated in NZ for your safety.

As you get more involved and educated about crypto, increasing your portfolio and adding other coins, you will need to start looking at moving your assets to a private wallet.

I talk about private wallets in this post.

The software wallet I currently use is Exodus which is compatible with Cardano.

The hardware wallet I currently use is a Trezor which is compatible with Cardano.

A private wallet is the safest way to store and access your Cardano, but does come with a learning curve, and still contains risk if you don’t manage/backup your wallets properly.

Once crypto starts to become a significant part of your portfolio, start educating yourself on private wallets and moving your Cardano to a private wallet like Exodus or Trezor.