How to Buy cDAI (CDAI)

Step 1 – Signup to Kraken

You will first need to buy one of the top-tier coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below for registration and to get ETH (Ethereum) or BTC (Bitcoin).

Step 2 – Transfer Your Ethereum or Bitcoin to an Cryptocurrency Exchange

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. cDAI (CDAI) is accessible on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Exchange? (Follow these easy steps)

Make sure you have selected the precise coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etc. If you're dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our guide).

Step 3 – Find cDAI (CDAI)

As soon as your deposit has been approved, you will now have access to your funds and you can start invest and trading. To invest in cDAI (CDAI) on Binance, you will want to hover over the tab which is called “Exchange” and after that mouse click on “Basic”.

In order to spot cDAI (CDAI), you'll need to put the short name of the asset (CDAI) into the search-box, which is marked in the image. Be certain of having choosen the proper grouping, we've marked this too. Click on “CDAI/BTC” to continue.

Step 4 – Buying cDAI (CDAI)

After you've located cDAI (CDAI), you'll be presented with a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). For now we're making our own Limit Order.

The ”Price” field will be filled with the most latest rate cDAI (CDAI) was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the amount of CDAI you like to purchase. The field with the “Total” tag is the aggregated price in BTC that you will settle for the complete quantity of CDAI.

If you are glad, click on “Buy CDAI”. Your order will be filled as soon as a Seller sells their CDAI for the price you gave.

Step 5 – Withdraw cDAI (CDAI)

Unless you are regularly trading, best advise is not to keep your crypto coins on an Exchange for an extensive time period. In order to take off your cDAI (CDAI), go to the tab called “Funds” and mouse click on “Withdraw”. cDAI (CDAI) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find cDAI (CDAI) by using the provided drop-down box. Drop in the quantity of cDAI (CDAI) you'd like to withdraw. Take into account the shown minimus/fees. Also make sure you have filled your correct withdraw address.

When you are glad, click on “Submit”. You could be requested for phone/email verification before a withdrawal.