As ADA is the only currency you are able transact with over the Cardano platform, you will need to buy ADA using either a cryptocurrency broker or exchange that supports such withdrawals. It's best to look for an exchange that supports both fiat and cryptocurrency to make it easier for you to purchase Cardano. Note: You can either trade another cryptocurrency for Cardano or deposit fiat money and convert it into ADA.
Follow these simple steps below to purchase or add ADA to your NAMI walllet:
Select a platform that enables ADA withdrawals
Open an account on an exchange that supports ADA - just remember that most exchanges require an email address, phone number and proof of ID to register. Below you will find some popular exchanges for your consideration:Deposit funds into your exchange account
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy ADA.
Obtain your wallet address from your crypto wallet
After deciding which exchange platform to purchase ADA from, and depositing funds into your account, you will need to create your crypto wallet (if you already haven't done so) to store your ADA. For further details on how to create your crypto wallet click here.
Within your wallet, select the option ‘Receive‘. This will show you the deposit address that you’ll need to copy to the exchange platform of your choice. If you are using an exchange on your smartphone, you can optionally scan the QR Code (if available) to import the address. Otherwise, use the Copy function to copy the address and paste it into your exchange account. Note: The Cardano wallet address begins with 'addr', as seen below.
Withdraw ADA from the exchange platform of your choice
Once you have imported or copied your wallet address into your selected exchange platform, enter the withdraw amount, ensuring you have selected the ADA Cardano Network.
Note: When you are sending ADA to your wallet, it is important that you only do so via the Cardano Network. If you choose to send ADA via another network, there may be a chance that your ADA may be lost forever!
Receive ADA in your Wallet
After the transfer has been initiated, you will receive ADA in your wallet. Transactions on the Cardano network are really fast, and you should be able to receive the funds within a few minutes!
That’s it! Now you can use your wallet to trade NFTs on Dropspot. 😄