How to Buy Dai (DAI)

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.

Binance Signup
Step 2 – Transfer Your Ethereum or Bitcoin to an Crypto Exchange

Your Ethereum or Bitcoin will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is identical. Dai (DAI) is accessible on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this manual)

Make sure you've chosen the correct coin you wish to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so on. In the case you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow these easy steps).

Step 3 – Locate Dai (DAI)

As soon as your deposit has been confirmed, you will immediately have access to your assets and you can initiate buying and trading. To buy Dai (DAI) on Binance, you'll want to hover over the ”Exchange” tab and after that click on “Basic”.

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 selected the correct pairing, we've highlighted this also. Click on “DAI/BTC” to go ahead.

Binance Hot To Buy Dai (DAI)
Binance How to Buy (DAI) Dai
Step 4 – Buying Dai (DAI)

Once you've spotted Dai (DAI), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the image). For now we're making our own Limit Order.

The ”Price” field will be filled with the most up-to-date rate Dai (DAI) was traded for. You can change this to your preferred rate. The ”Amount” field is the amount of DAI you want to buy. The ”Total” field is the total price in Bitcoin that you will settle for the complete volumen of DAI.

If you're glad, make a mouse click on “Buy DAI”. Your order will be filled as soon as a Vendor trades their DAI for the price you gave.

Step 5 – Withdraw Dai (DAI)

Unless you're frequently trading, best advise is not to keep your crypto on an Crypto Trader for an extensive period of time. In order to withdraw your Dai (DAI), hover over the ”Funds” tab and click on “Withdraw”. Dai (DAI) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Dai (DAI) by using the provided drop-down box. Enter the volumen of Dai (DAI) you'd wish to withdraw. Take into account the demonstrated minimus/fees. Also make sure you have entered your precise withdraw address.

If you are satisfied, click “Submit”. You may be requested for phone/email verification before a withdrawal.

Binance Withdraw

Congrats! You have successfully bought and stored Dai (DAI).

That's it!

Take offs from Crypto Exchange can take between 1 – 30 minutes (rely on usage of the network). Once you've proved your take off using Ethplorer.io or Etherscan.io and the (DAI) Dai is stored within your wallet, you are finished.

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