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 – Send Your ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange

Your Bitcoin or Ethereum will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is alike. cDAI (CDAI) is obtainable on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Crypto Trader? (Just follow this guide)

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

Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. If you are working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow these easy steps).

Step 3 – Locate cDAI (CDAI)

Once your deposit has been approved, you will instantly have access to your assets and you can commence purchasing and trading. To purchase cDAI (CDAI) on Binance, you'll want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

To locate cDAI (CDAI), you'll need to insert the shortname of the coin (CDAI) into the search-box, which is highlighted in the graphic. Make sure you have selected the proper grouping, we've marked this also. Click on “CDAI/BTC” to continue.

Step 4 – Buying cDAI (CDAI)

Once you have located cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the image). And now we're going to create our own Limit Order.

The field with the “Price” tag will be automatically filled with the most recent rate cDAI (CDAI) was traded for. This can be changed to your favoured rate. The ”Amount” field is the volumen of CDAI you wish to buy. The ”Total” field is the whole price in Bitcoin that you'll pay for the complete volumen of CDAI.

When you're happy, click on “Buy CDAI”. Your order will be filled as soon as a Vender sells their CDAI for the price you gave.

Step 5 – Withdraw cDAI (CDAI)

Unless you are frequently trading, never keep your crypto on an Crypto Trader for an extended time frame. To withdraw your cDAI (CDAI), hover over the tab called “Funds” and click on “Withdraw”. cDAI (CDAI) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

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

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