Ex-Goldman Sachs exec bullish on ADA: Where to buy Cardano

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ADA is generating a lot of buzz ahead of the unveiling of a prototype dAppStore at this weekend’s Cardano Summit

Since launching smart contract functionality on the blockchain earlier this month, Cardano has been poised to become an industry leader and potentially live up to its moniker of the “Ethereum killer”.

Now, with news about decentralised applications (dApps) on Cardano and an endorsement from Raoul Pal, it’s perhaps not surprising that ADA is currently the top trending cryptocurrency on CoinMarketCap — and this enthusiasm could easily translate into a price rise.

How & where to buy Cardano in the UK and elsewhere

As the third-largest coin by market cap, you can buy ADA on most platforms that sell crypto. However, to get the most out of your trading experience and ensure your funds are kept safe, we suggest you select a regulated exchange or broker. To save you some time on research, check out two of our top picks below.

Investous

Investous even new platform has already established a solid reputation as a portal that’s built around the evolving needs of its members. It provides a smooth simple and streamlined interface that supports intelligent and intuitive trading, with a wide range of popular assets, superb educational tools and responsive customer service.


Buy ADA with Investous today

FP Markets

FP Markets combines metals, indices connectivity and award-winning execution speed with institutional-grade liquidity to provide traders consistently tighter spreads and unparalleled trading conditions. FP Markets offers Forex, Equities, Commodities, Cryptocurrency, Futures and Index CFDs all from one account.


Buy ADA with FP Markets today

What is Cardano and what is driving its current rally?

Founded in 2017, Cardano is a Proof of Stake blockchain platform and ADA is its native token. The much-anticipated Alonzo upgrade was deployed on mainnet on 12 September and provides smart contract functionality, meaning Cardano is finally ready to host dApps.

Discovery of Cardano dApps will happen through the Plutus dAppStore — a censorship-resistant “storefront” for Cardano announced this week. A prototype of it will be unveiled at the Cardano Summit this weekend.

Further good news for Cardano today came in the form of bullish comments from former Goldman Sachs executive Raoul Pal. “The price is going up,” said Pal, lauding the project’s large community and suggesting more use cases are needed. “I own it because because [sic] there’s a lot of investors in it. And if the ecosystem builds out, it’s going to do incredibly well.”

Should I buy ADA today?

ADA has lost about a third of its value since setting a new all-time high at the start of this month and is trading at about $2.14 at time of writing.

ADA rejected from resistance this morning near the 50-day simple moving average (SMA) at $2.38, but the 100-day SMA at $1.84 will likely cap further downside.

ADA/USD daily chart. Source Trading View

With all the positive news and developments for Cardano this year, the current dip might represent a strong buying opportunity. A successful launch of the dAppStore could see ADA reclaim its previous all-time high in the coming weeks and head into new territory above $3.



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