Cardano (ADA) Wallet Guide for Desktop and Mobile (iOS & Android)

Cardano is a blockchain platform that uses a proof of stake (PoS) consensus mechanism. According to the project, its goal is to allow “visionaries, innovators, and changemakers” to bring about positive global change. 

The team behind this open-source project also states that it “conducts extensive research and regularly publishes its results in peer-reviewed academic papers.” By taking a systematic approach to blockchain research and development, the company’s efforts are geared towards building an efficient, secure, and scalable decentralized network. You can observe the current Cardano price chart here.

Cardano is named after Gerolamo Cardano, a 16th century Italian polymath. Its native ADA token was similarly named after Ada Lovelace, a 19th century mathematician widely regarded as the world’s first computer programmer. The ADA token’s design ensures owners can participate in the network’s operation by empowering ADA token holders to vote on any proposed software changes.

The project dates back to 2015, when Charles Hoskinson (one of Ethereum’s co-founders), and his former colleague Jerry Wood, faced internal disagreements in the Ethereum Foundation and left the company. They went on to establish Input Output (IOHK), which ultimately launched the Cardano Network and ADA token in 2017.

Deciding to buy, trade, or hold ADA means you’ll need a safe and reliable crypto wallet that’s compatible with your new assets. Join us below as we explore what a crypto wallet is, how it works, including the various types of Cardano (ADA) wallets.

A crypto wallet can be a physical device or a software program. Its purpose is typically twofold: it enables users to store their crypto assets, and send or receive crypto transactions. 

Understanding how a crypto wallet works is fairly straightforward. Imagine two key pairs: public and private. These keys comprise a crypto wallet, with each type serving a specific function. 

The public key represents a crypto address users apply when they want to send crypto assets into the wallet. Keep in mind that there are numerous public keys to each crypto wallet, which means you can give out different key addresses, but still receive crypto to the same wallet. Your private key is unique, and if you lose it, you (often permanently) lose all access to your crypto assets.

There are various types of crypto wallets, but for the purposes of this writing, we’ll focus on one of the most common points of contention among crypto enthusiasts: custodial vs. non-custodial wallets.

On the one hand, some crypto enthusiasts don’t mind keeping track of their public and private keys, as this gives them complete control over their crypto assets. On the other hand, others prioritize ease of access and functionality over other factors, causing them to select a safe crypto online wallet like the CEX.IO Wallet. When looking to acquire Cardano (ADA), the latter is recommended, and here’s why.

Holding your own private key and initiating crypto asset transactions via a non-custodial wallet typically means enjoying greater freedom and control over your cryptocurrencies. But, if you’re new to crypto, and you misplace or lose your private key, you risk permanently losing access to your holdings. This means you won’t be able to perform any transactions using your assets.

Storing ADA in a custodial CEX.IO Wallet could offer peace of mind from a trusted platform with a proven track record of reliability. Additionally, buying crypto like ADA directly on CEX.IO translates into a smoother and more effortless experience of conducting crypto transactions, because it holds your crypto assets and keys. 

Since our platform maintains round-the-clock security and straightforward, intuitive crypto access, digital funds are merely a few clicks/screen taps away. Therefore, choosing a trusted custodial wallet could be worthwhile for both industry experts and beginner crypto enthusiasts alike.

Note that, depending on your location and the inherent jurisdictional and regulatory limitations, you may be eligible to explore CEX.IO crypto savings accounts*, and in some cases, even Cardano staking* possibilities. 

Regardless, when configuring the CEX.IO Wallet, we prioritized offering a hassle-free experience combined with straightforward usability. The resulting experience continues to be optimized, and provides eligible participants with freedom of movement across various payment methods. Ultimately, managing your holdings remains effortless whether you’re using the CEX.IO Wallet via a mobile app or a preferred desktop browser.

*CEX.IO Staking and Savings are currently not available in the U.S. Check the list of supported jurisdictions here. 

When choosing how to buy Cardano with a credit or debit card, there are several ways to access CEX.IO Wallet services:

• First, set up a new account on the platform (or log in if you already have one); 
• After completing the verification process, navigate to CEX.IO Wallet by either hovering your cursor over the Products tab in the upper left corner, and selecting Wallet from the middle column, or by clicking on CEX.IO Wallet in the right-hand side of the screen.

Both pathways lead to the CEX.IO Wallet web interface, where you can choose ADA from the drop-down menu. This allows you to manage your digital access and perform crypto transactions.

Note that the steps outlined above describe accessing your CEX.IO Wallet through a desktop web browser. If you prefer to use your phone and have an Android crypto wallet or an iPhone crypto wallet, managing your ADA on the go is also possible through the CEX.IO App.

After logging into your account in the CEX.IO App, simply navigate to the Wallet tab on the screen, and choose between Buy, Receive, Send, and Convert features (more on these below). The interface will also allow you to select which cryptocurrency you’d like to transact, where you can choose ADA.

You can manage your holdings in the CEX.IO Wallet through numerous payment methods, including e-wallets, credit and debit cards, and even bank transfers. There’s also the newly available CEX.IO Crypto Card, for those looking to use digital assets for payments in 150+ countries. However, please note that some of these payment methods are subject to jurisdictional limitations.

To buy ADA with CEX.IO Wallet via a preferred desktop browser, follow these steps:

• Log into your CEX.IO account (or create one and get verified);
• Hover your cursor over the Products tab on the homepage;
• Click on Wallet;
• From the Wallet dashboard, scroll down and select ADA from the list of available cryptocurrencies;
• Choose between Add Funds (if you haven’t made a deposit yet) or Convert (if you already have some funds in your account) next to ADA;
• Follow the instructions on the screen to complete the desired transaction.

To receive ADA, select Get Address from the Wallet dashboard, and follow the instructions on the next screen to complete the transaction.

In the CEX.IO App, the process is nearly identical:

• Open the CEX.IO App (or download, install, and log in using your credentials);
• Navigate to the Wallet tab;
• Click Buy, and then select ADA from the list of available cryptocurrencies;
• Select your preferred payment method;
• Choose between one of the prearranged packs or, in the You pay field, enter the amount of fiat funds you’d like to exchange for ADA;
• Follow the instructions on the screen, and after conducting a personal risk assessment, complete the desired transaction.

To receive ADA, click on the Receive button in your CEX.IO App Wallet tab, select ADA from the list of cryptocurrencies, and follow the instructions to complete the transaction.

A Cardano (ADA) wallet includes any online or physical crypto wallet that supports ADA tokens. It can be a custodial or non-custodial wallet solution, although a custodial solution like the CEX.IO Wallet can be preferred by participants seeking to buy, sell, trade, convert, and store ADA tokens. It’s available through a preferred desktop browser, and in the recently redesigned CEX.IO App. 

There are various ways to keep ADA, but a safe, reliable, and trusted custodial wallet like the CEX.IO Wallet can serve both novice and experienced crypto enthusiasts.