How to Purchase Cardano (ADA) using Colony (CLY)

To buy Cardano using Colony, first, find a cryptocurrency exchange that supports the ADA/CLY trading pair. Create an account, verify your identity, and deposit your CLY into your exchange wallet. Locate the ADA/CLY pair on the trading platform and place an order to exchange your Colony for Cardano. If the ADA/CLY pair is unavailable, you can first exchange Colony for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Cardano. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.