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 – Send Your Bitcoin or Ethereum to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. All exchanges have a deposit form that is alike. Dai (DAI) is available on Binance, so we're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Exchange? (Just follow this how-to) Make sure you've chosen the exact coin you want to deposit. BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etc. If you're working with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our guide).
Step 3 – Locate Dai (DAI) Once your deposit has been affirmed, you'll immediately have access to your assets and you can commence purchasing and trading. To buy Dai (DAI) on Binance, you'll want to hover over the tab which is called “Exchange” and then click on “Basic”. In order to find Dai (DAI), you'll need to insert the shortname of the coin (DAI) into the search box, which is highlighted in the picture. Be certain of having choosen the proper grouping, we have highlighted this also. Click on “DAI/BTC” to go on.
Step 4 – Purchase Dai (DAI) After you have discovered Dai (DAI), you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we're going to make our Limit Order. The ”Price” field will be automatically filled with the most latest price Dai (DAI) was sold for. This can be changed to your favoured price. The ”Amount” field is the quantity of DAI you like to buy. The field with the “Total” tag is the total price in Bitcoin that you will pay for the whole quantity of DAI. If you are satisfied, make a mouse click on “Buy DAI”. Your order will be filled as soon as a Vendor sells their DAI for the price you submitted.
Step 5 – Withdraw Dai (DAI) Unless you're frequently trading, best advise is not to keep crypto coins on an Exchange for an extensive time frame. In order to take off your Dai (DAI), hover over the tab called “Funds” and mouse click on “Withdraw”. Dai (DAI) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate Dai (DAI) by using the given drop-down box. Drop in the quantity of Dai (DAI) you'd wish to take off. Don't forget the displayed fees/minimums. Also make sure you have filled your correct withdraw address. If you're glad, click “Submit”. You may be asked for verfication via email/phone before a withdrawal.