A Step-by-Step-Guide on how to buy cDAI (CDAI)
Step 1 – Signup to CEX.io You will first need to purchase units of the top-tier currencies. Exchanges usually accept either Ethereum or Bitcoin in exchange for Altcoins. Click the button below to register and getting your Ethereum or Bitcoin.
Step 2 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. 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 Cryptocurrency Exchange? (Just follow this how-to) Make sure you've chosen the correct coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, et cetera. In the case you are using a decentralized exchange, like Airswap or DDEX could be different (Just follow our how-to).
Step 3 – Find cDAI (CDAI) Once your deposit has been affirmed, you'll now have access to your assets and you can start purchasing and trading. To buy cDAI (CDAI) on Binance, you'll want to hover over the ”Exchange” tab and then click on “Basic”. In order to find cDAI (CDAI), you'll need to put the cointype (CDAI) into the search-box, which is marked in the image. Make sure you have selected the correct pairing, we have marked this also. Click on “CDAI/BTC” to advance.
Step 4 – Purchase cDAI (CDAI) Once you've spotted cDAI (CDAI), you will be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). Next we're going to create our own Limit Order. The field with the “Price” tag will be automatically filled with the most recent price cDAI (CDAI) was traded for. You can change this to your favoured price. The ”Amount” field is the quantity of CDAI you wish to buy. The field with the “Total” tag is the aggregated price in BTC that you'll settle for the whole quantity of CDAI. When you are happy, click on “Buy CDAI”. Your plan will be filled when a Seller trades their CDAI for the price you gave.
Step 5 – Withdraw cDAI (CDAI) Unless you are frequently trading, never keep your coins on an Crypto Exchange for an extended time frame. To withdraw your cDAI (CDAI), hover over the tab called “Funds” and mouse click on “Withdraw”. cDAI (CDAI) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate cDAI (CDAI) by using the given drop-down box. Drop in the quantity of cDAI (CDAI) you would wish to withdraw. Take into account the shown fees/minimums. Also make sure you have filled your correct withdraw address. If you are satisfied, click “Submit”. You may be requested for email/phone verification ahead of a take off.