How to Buy Ardor (ARDR) - Ultimate Guide by Cryptogeek

Aug 03, 2021 0
How to Buy Ardor (ARDR) - Ultimate Guide by Cryptogeek

As the world of crypto is developing, more and more people are interested in getting on board. Some may do it from a purely financial standpoint, while others want to be ready when the crypto gets adopted, and we can use it to pay at our local café. Regardless of the reason, purchasing crypto is an excellent way to invest in your future.

With several thousands of cryptocurrencies available on the market, picking the right one is crucial. There are plenty of coins with a potential for growth and the one I'll be focusing on today is Ardor and explain to you how you can purchase it.

Before I start outlining the platforms where you can purchase Ardor, here's a quick intro to what it is

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What is Ardor?

Ardor is a blockchain platform designed to tackle some of the problems most other blockchain networks face. This proof-of-stake network was released in 2018. On top of offering solutions to some issues, the biggest one that is aimed for is scalability.

The chain system is designed to act as a parent and child system. Multiple child chains exist and are under the umbrella of the parent chain. Most of the network features are provided by the child chains, while the parent one is responsible for the security and processing of the payments.

Each child chain has a different token used to pay for the transactions, but it also means that the set of features may differ. As for scalability, Ardor is designed so that the data from the child chains gets added to the parent one. Once that happens, the redundant data from the child chains are removed. The development for all chains is similar, meaning that they share the same source code. The result of this is the interoperability of all chains, meaning that you can trade one child coin for another all while remaining under the parent chain umbrella.

Ardor is based on the proof-of-stake algorithm, meaning that the energy consumption is lower than other networks that utilize the proof-of-work consensus.

How to buy Ardor?

Like with any other crypto on the market, the purchase process can vary depending on the platform you use. Some may allow a quick fiat purchase without registration, while for others, the procedure may be significantly longer.

The main criteria for the platform should be if Ardor is a supported token, which is why I've made the list.

Next up is the registration process. Most platforms will require you to sign up to be able to make a purchase. Depending on each exchange's rules, you can get away with an email and a password, or you may be required to enter some additional personal information. This brings me to the verification process.

It is when the platform requires you to verify that you are the person you say you are. Some verification procedures may ask you only to verify your email address, while others may request a copy of your ID and some additional step to prove your identity.

The verification process can take a few hours, but it may also take a few days. The reason for that is because real people will be reviewing your documents, and the time it takes to get verified may depend on the number of applications the platform has.

When the verification is completed, you will get an email after which you can log in to the platform and make your Ardor purchase. Since each platform has a unique set of features, you can make a purchase with a credit card, bank transfer, some online payment service, or by trading with other crypto coins.

Where can you buy Ardor?

Binance

Starting with the most apparent exchange, the one that everyone knows. Even though it has been around since 2017, it quickly grew into the go-to platform for crypto purchasing and trading, and with good reason. Packed full of features and available crypto coins, it's no wonder why it's so popular.

The platform has support for well over 500 coins, and when you combine them with the 15 fiat currencies, you have a great variety when purchasing Ardor.

Huobi

It's the kind of platform that has been around for quite some time, and it managed to put itself on top of the list as a very popular exchange. It was launched in Singapore in 2013, and despite not having as many trading pairs as some of its competitors, it's still an excellent place to purchase Ardor.

There are roughly 100 crypto assets available on the exchange, among which is Ardor, but there's a catch. You won't be able to make a purchase using fiat currencies, so you'll have to rely on trading pairs.

HitBTC

Another exchange that was launched in 2013 is HitBTC. It had a rough start in the early years, which led to some bad publicity that got sorted over the years.

You can choose between over 800 crypto coins, including Ardor which makes it one of the most versatile exchanges in existence. You should be aware that the platform doesn't support fiat currencies, meaning that you will need to purchase Ardor with another crypto coin.

Freewallet

Purchasing crypto on a wallet? Yes, this one allows that because even though it's mainly a wallet application, there is a built-in exchange. Changelly is the exchange in question, and it is baked into the app, offering both services as one app.

Ardor is only one of the 100 supported coins, which isn't the most in the world. On a more positive note, the wallet does support fiat currencies, meaning that you can purchase Ardor without having to chase trading pairs.

Poloniex

The exchange was launched in 2014, and shortly after, it was marked by a breach, causing many people to steer clear from it. With the updated management in 2019, the exchange got back on track, making it an excellent place to purchase Ardor today.

It's down on supported coins, and with only around 100 of those, you won't be as flexible as with some of the other platforms I mentioned. On top of that, there isn't support for fiat currencies, which additionally limits versatility.

Bittrex

Another exchange that has been around for quite a long time is Bittrex. It's a US-based exchange platform that was launched in 2014, aiming to offer improved security for its clients. Despite being based in the US, Bittrex is available for residents from many other countries in the world.

Surprisingly, the platform supports around 400 coins, which is quite a lot more than some of the ones I mentioned already. A slight inconvenience is that the only fiat currency accepted is USD, and you can only deposit via wire transfer.

OKEx

You may have heard of OKEx as an excellent crypto exchange, but what you may not know is that there are some prominent names in the crypto industry that stand behind it. It was launched in 2014, and today is an excellent platform for you to purchase Ardor.

In terms of flexibility, OKEx is one of the best there is. With 400 crypto and 30 fiat currencies, you can purchase Ardor any way you want. On top of that, the plethora of deposit options and lower fees are only part of the reasons why it's such a great platform.

The opinions and assessments expressed in the text are the views of the author of the article and may not represent the position of Cryptogeek. Do not forget that investing in cryptocurrencies and trading on the exchange is associated with risk. Before making decisions, be sure to do your own research on the market and the products you are interested in.


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