How to Buy cDAI (CDAI)

A Step-by-Step-Guide on 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).

Binance Signup
Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Exchange

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Exchange now. All exchanges have a deposit form that is alike. cDAI (CDAI) is accessible on Binance, so we're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this guide)

Make sure you have chosen the precise coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. In the case you're using a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).

Step 3 – Find cDAI (CDAI)

As soon as your deposit has been confirmed, you will directly have access to your finances and you can launch purchasing and trading. To purchase cDAI (CDAI) on Binance, you will want to go to the ”Exchange” tab and after that mouse click on “Basic”.

To locate cDAI (CDAI), you will need to put the short name of the asset (CDAI) into the search box, which is highlighted in the image. Make sure you have selected the proper pairing, we've highlighted this also. Click on “CDAI/BTC” to progress.

Binance Hot To Buy cDAI (CDAI)
Binance How to Buy (CDAI) cDAI
Step 4 – Purchasing cDAI (CDAI)

As soon as you've spotted cDAI (CDAI), you will be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). Next we are creating our own Limit Order.

The ”Price” field will be filled with the most latest price cDAI (CDAI) was traded for. This can be changed to your desired rate. The ”Amount” field is the amount of CDAI you want to purchase. The ”Total” field is the total price in BTC that you will pay for the complete amount of CDAI.

When you are glad, click on “Buy CDAI”. Your plan will be filled as soon as a Vender sells their CDAI for the price you offered.

Step 5 – Withdraw cDAI (CDAI)

Unless you are trading, never keep your crypto on an Crypto Exchange for an extensive period of time. To withdraw your cDAI (CDAI), hover over 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 given drop-down box. Drop in the quantity of cDAI (CDAI) you'd wish to withdraw. Take into account the demonstrated minimus/fees. Also make sure you have entered your right withdraw address.

If you are glad, make a mouse click on “Submit”. You could be asked for phone/email verification before a take off.

Binance Withdraw

Kudos! You have successfully bought and safed cDAI (CDAI).

That's it!

Withdrawals from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (depending on network usage). As soon as you've proved your withdrawal with Etherscan.io or Ethplorer.io and the (CDAI) cDAI is safe in your wallet, you're all done.

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