A Step-by-Step-Guide on how to buy Dai (DAI)
Step 1 – Join Kraken You'll first need to buy units of the top-tier currencies. Exchanges commonly accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click below for registration and getting Funds.
Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Trader Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. Dai (DAI) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send Coinbase funds to an Crypto Trader? (Just follow this manual) Make sure you have chosen the precise coin you want to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, et cetera. If you're using a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our manual).
Step 3 – Find Dai (DAI) As soon as your deposit has been approved, you will directly have access to your assets and you can start invest and trading. To buy Dai (DAI) on Binance, you will want to go to the ”Exchange” tab and then mouse click on “Basic”. To spot Dai (DAI), you'll need to put the short name of the asset (DAI) into the search-box, which is highlighted in the graphic. Be certain of having choosen the correct grouping, we have marked this too. Click on “DAI/BTC” to continue.
Step 4 – Buying Dai (DAI) As soon as you have discovered Dai (DAI), you'll be given a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the image). For now we're going to create our own Limit Order. The ”Price” field will be filled automatically with the most latest tariff Dai (DAI) was sold for. You can change this to your favoured price. The field with the “Amount” tag is the volumen of DAI you want to buy. The field with the “Total” tag is the aggregated price in BTC that you'll settle for the whole quantity of DAI. If you're satisfied, click on “Buy DAI”. Your order will be filled as soon as a Vendor trades their DAI for the price you introduced.
Step 5 – Withdraw Dai (DAI) Unless you're regularly trading, you should never keepyour crypto coins on an Crypto Exchange for an longer time frame. To withdraw your Dai (DAI), go to the ”Funds” tab and click on “Withdraw”. Dai (DAI) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Dai (DAI) by using the given drop-down box. Put into the amount of Dai (DAI) you'd like to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have filled your precise withdraw address. If you are satisfied, make a mouse click on “Submit”. You could be asked for verfication via email/phone before a take off.