TL;DR: Register at exchange (i.e. Binance), verify account, click one of the “buy” buttons
The first step is to open an account on a crypto exchange that supports the Cardano token ADA. If you are unsure of which exchange to choose, we suggest you consider using any of the biggest and most famous ones, such as Binance, KuCoin, Kraken (mostly used in Europe), Coinbase (mostly US).
As a second step, you will have to pass KYC (Know Your Customer) verification. Normally this would include multiple stages, where the basic is identity verification, followed by more comprehensive steps, such as address verification. Steps beyond basic are not mandatory, however passing them unlocks more features and/or extends the funds amount limits.
On an average day you will be asked for:
• Your full legal name
• Your current address incl. proof
• An email address and phone number
• A payment method to fund your account: most exchanges support both credit cards and direct banks transfers
• Photographic proof of your identity (such as a driver’s license or passport)
As soon as your account is validated, you can deposit fiat money (“normal” money, accepted by the government) to your account. Now you can start trading! It might be that you have to buy Bitcoin or another currency first, as ADA cannot be bought directly with every fiat currency. For example, sometimes ADA can be exchanged for EUR, but not for GBP.
Are you having a big stake and considering joining HYGGE?