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 – Send Your Funds to an Exchange

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. cDAI (CDAI) is accessible on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this guide)

Make sure you've chosen the right coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. If you are using a decentralized exchange, such as Airswap or DDEX could be different (Follow these easy steps).

Step 3 – Locate cDAI (CDAI)

Once your deposit has been verified, you'll immediately have access to your assets and you can start purchasing and trading. To buy cDAI (CDAI) on Binance, you will want to hover over the tab which is called “Exchange” and after that mouse click on “Basic”.

To find cDAI (CDAI), you'll need to put the shortname of the coin (CDAI) into the search box, which is highlighted in the picture. Be certain of having choosen the correct grouping, we've marked this also. Click on “CDAI/BTC” to continue.

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

As soon as you have spotted cDAI (CDAI), you'll be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we are going to make our own Limit Order.

The field with the “Price” tag will be filled automatically with the most up-to-date rate cDAI (CDAI) was sold for. This can be changed to your favoured rate. The field with the “Amount” tag is the amount of CDAI you wish to buy. The ”Total” field is the aggregated price in BTC that you will pay for the complete quantity of CDAI.

If you're happy, click on “Buy CDAI”. Your order will be filled as soon as a Seller trades their CDAI for the price you offered.

Step 5 – Withdraw cDAI (CDAI)

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

Locate cDAI (CDAI) by using the given drop-down box. Enter the quantity 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 happy, make a mouse click on “Submit”. You may be asked for verfication via email/phone before a withdrawal.

Binance Withdraw

Congrats! You have successfully bought and stored cDAI (CDAI).

That's it!

Take offs from Exchange can durate between 1 – 30 minutes (depending on usage of the network). As soon as you have proved your take off with Etherscan.io or Ethplorer.io and the (CDAI) cDAI is stored in your wallet, you are done.

Some other Guides on How to buy Coins

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How to Buy ALIS
How to Buy Coins
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