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 Ethereum (ETH) or Bitcoin (BTC) to an Crypto Exchange

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

Make sure you have selected the exact coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. If you are working with a decentralized exchange, like Airswap or DDEX could be divergent (Follow our guide).

Step 3 – Locate cDAI (CDAI)

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

In order to discover cDAI (CDAI), you will need to insert the shortname of the coin (CDAI) into the search box, which is highlighted in the image. Be certain of having selected the proper pairing, we have highlighted this too. Click on “CDAI/BTC” to go ahead.

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

As soon as you've located cDAI (CDAI), you will be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we're making our own Limit Order.

The field with the “Price” tag will be automatically filled with the most latest tariff cDAI (CDAI) was traded for. You can change this to your favoured rate. The ”Amount” field is the quantity of CDAI you want to buy. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the complete volumen of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you are regularly trading, you should never keepyour crypto on an Exchange for an extensive period of time. In order to withdraw your cDAI (CDAI), hover over 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 provided drop-down box. Put into the amount of cDAI (CDAI) you'd like to withdraw. Take into account the presented minimus/fees. Also make sure you have filled your precise withdraw address.

If you are happy, click “Submit”. You may be asked for verfication via phone/email before a take off.

Binance Withdraw

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

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (depending on usage of the network). Once you have proved your withdrawal with Ethplorer.io or Etherscan.io and the (CDAI) cDAI is safe in your wallet, you're all done.
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