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 Funds to an Crypto Trader Your Bitcoin or Ethereum has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is similar. Dai (DAI) is accessible on Binance, so we're going to use that as an sample. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this guide) Make sure you have selected the precise coin you want to deposit. BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so on. If you are dealing with a decentralized exchange, like Airswap or DDEX could be unlike (Follow our how-to).
Step 3 – Find Dai (DAI) As soon as your deposit has been approved, you'll now have access to your finances and you can begin purchasing and trading. To invest in Dai (DAI) on Binance, you'll want to go to the tab which is called “Exchange” and after that mouse click on “Basic”. To discover Dai (DAI), you'll need to put the cointype (DAI) into the search box, which is highlighted in the image. Be certain of having choosen the proper pairing, we have highlighted this also. Click on “DAI/BTC” to advance.
Step 4 – Purchasing Dai (DAI) After you have spotted Dai (DAI), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the picture). For now we're creating our own Limit Order. The ”Price” field will be filled with the most up-to-date price Dai (DAI) was traded for. You can change this to your preferred rate. The ”Amount” field is the volumen of DAI you want to buy. The field with the “Total” tag is the whole price in BTC that you'll settle for the complete amount of DAI. If you are glad, click on “Buy DAI”. Your plan will be filled as soon as a Vender trades their DAI for the price you submitted.
Step 5 – Withdraw Dai (DAI) Unless you're frequently trading, you should never keepyour crypto coins on an Crypto Trader for an extended time period. In order to withdraw your Dai (DAI), go to the ”Funds” tab and mouse click on “Withdraw”. Dai (DAI) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Find Dai (DAI) by using the given drop-down box. Put into the quantity of Dai (DAI) you'd wish to take off. Don't forget the shown minimus/fees. Also make sure you have entered your correct withdraw address. If you are satisfied, click on “Submit”. You may be asked for verfication via phone/email ahead of a take off.
Kudos! You have successfully purchased and safed Dai (DAI).That's it! Take offs from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). Once you've confirmed your withdrawal with Etherscan.io or Ethplorer.io and the (DAI) Dai is stored within your wallet, you're all done.
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