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).
Step 2 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Crypto Trader Your Ethereum or Bitcoin will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. cDAI (CDAI) is available on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Crypto Trader? (Just follow this how-to) Make sure you have chosen the exact coin you want to deposit. Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so on. If you are working with a decentralized exchange, like Airswap or DDEX could be different (Follow our guide).
Step 3 – Find cDAI (CDAI) As soon as your deposit has been verified, you'll now have access to your assets and you can begin purchasing and trading. To purchase 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 locate cDAI (CDAI), you will need to insert the short name of the asset (CDAI) into the search-box, which is highlighted in the image. Be certain of having choosen the proper pairing, we've highlighted this too. Click on “CDAI/BTC” to go ahead.
Step 4 – Purchasing cDAI (CDAI) After you have found cDAI (CDAI), you'll be given a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the image). For now we are going to create our own Limit Order. The ”Price” field will be filled automatically with the most latest price cDAI (CDAI) was traded for. This can be changed to your favoured rate. The field with the “Amount” tag is the amount of CDAI you like to purchase. The ”Total” field is the total price in Bitcoin that you'll pay for the whole volumen of CDAI. When you are satisfied, click on “Buy CDAI”. Your plan will be filled when a Vender trades their CDAI for the price you introduced.
Step 5 – Withdraw cDAI (CDAI) Unless you are frequently trading, best advise is not to keep your crypto on an Cryptocurrency Exchange for an extended time frame. In order to withdraw your cDAI (CDAI), go to the ”Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate cDAI (CDAI) by using the given drop-down box. Put into the volumen of cDAI (CDAI) you'd like to withdraw. Take into account the demonstrated minimus/fees. Also make sure you have entered your correct withdraw address. If you are glad, make a mouse click on “Submit”. You may be requested for phone/email verification ahead of a withdrawal.