Megalodon prefer raw meat than raw fish meat, so don't try to kill water dinos to tame your megalodon. In low level, they have low weight, but if you increase its weight, it will be perfect. Megalodon always spawn near red obelisk, so go to the ocean and you will find a lot of megalodon. Remember: If you don't tranquilizater darts, use a crossbow and shoot tranq!
What they're good for: I'd say they're good for defense mainly. You could also take them out hunting for fish food.
Where to find: ocean water
How to tame: get a crossbow and tranq arrows. Find a shark close to shore. Shoot shark and swim to shore, swim back out into water and shoot. Repeat this until shark is down. Feed meat and narcotics if necessary. *guaranteed to not get bitten this way*
I personally tame sharks, crypod them and go back to my base where I live right next to a small lake. I put 3-10 sharks in the lake and put them on wander and aggressive mode. If anyone or anything goes into the lake, they'll be dead in seconds. Also if I happen to be getting raided while online, I pick the raiders up with my bird and drop them into the shark infested lake. :)
These terrors of the ocean may seem a very strong and a late-game tame, but my first megalodon was tamed when I was less than level 20, all I did was go into the water and lure it to a place shallow enough then knocked it with a club, took very long to knock out but it was worth that time.
Fairly easy tame with slingshot on mobile. I found a female stuck on herb island, grabbed meat, knocked it out and started tame ing it. Trill in the process, but ye! Just get like 300 hungered rocks and like 3 slingshots and ur good! (Mobile btw)
I tamed mine by making it come to the shallows and getting it stuck by swimming in circles and using a club, you can get it early by doing this. I used a new club and when I was done it was at quarter health.