💹1. Choosing an exchange

Choosing an exchange out of the hundreds available today can be a daunting task: here we provide some tips to newcomers to Cardano.

Think about tax time

Nobody likes to think about tax time. But we kind of have to. Some jurisdictions treat cryptocurrencies as commodities, some as securities, some are flat-out trying to ban them. Where you are in the world will determine when and how your crypto earnings will be taxed.

Do some research ahead of time, to avoid unpleasant surprises.

Some exchanges provide end-of-financial year reports, accepted by your jurisdictional taxation office.

Reputation matters

There are a multitude of cryptocurrency exchanges in the world. Choosing one that is appropriately regulated in your jurisdiction and has a good reputation can make a lot of difference.

Make sure your exchange of choice has a good reputation. Things to look out for include:

• Solid local regulation;

• Presence of a thorough KYC process;

• Years of activity;

• The exchange allows cryptocurrency withdrawal into personal wallets;

• Awards and certifications from competent organs;

• Bad press or allegations of criminal behaviour;

• Quality of customer-support;

• Transparency of dealings with the community.

Exchange list

For an updated list of Crypto exchanges, you can view this page, curated by Coingecko.

Disclaimer: this guide is not supported financially or in any other way endorsed by Coingecko.