A Step-by-Step-Guide on how to buy Dai (DAI)
Step 1 – Signup to CEX.io You'll first need to purchase one of the bigger coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for Altcoins. Click below for registration and to get your Bitcoin or Ethereum.
Step 2 – Send Your BTC (Bitcoin) or ETH (Ethereum) to an Cryptocurrency Exchange Your Ethereum or Bitcoin has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. Dai (DAI) is obtainable on Binance, so we will use that as an example. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow these easy steps) Make sure you've selected the correct coin you wish to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be different (Just follow these easy steps).
Step 3 – Find Dai (DAI) As soon as your deposit has been affirmed, you'll directly have access to your funds and you can initiate buying and trading. To purchase Dai (DAI) on Binance, you'll want to hover over the ”Exchange” tab and after that click on “Basic”. In order to locate Dai (DAI), you'll need to put the shortname of the coin (DAI) into the search-box, which is marked in the picture. Make sure you have choosen the proper grouping, we've marked this also. Click on “DAI/BTC” to proceed.
Step 4 – Purchase Dai (DAI) Once you have spotted Dai (DAI), you will be presented with a Price Chart (in the Center of the picture) and some Order Books (Leftside of the picture). For now we're going to create our own Limit Order. The field with the “Price” tag will be automatically filled with the latest price Dai (DAI) was traded for. This can be changed to your desired price. The field with the “Amount” tag is the quantity of DAI you wish to buy. The ”Total” field is the whole price in Bitcoin that you'll settle for the complete quantity of DAI. When you are satisfied, make a mouse click on “Buy DAI”. Your order will be filled when a Seller sells their DAI for the price you gave.
Step 5 – Withdraw Dai (DAI) Unless you're regularly trading, you should never keepyour coins on an Crypto Exchange for an extensive time period. In order to withdraw your Dai (DAI), hover over the ”Funds” tab and mouse click on “Withdraw”. Dai (DAI) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Dai (DAI) by using the provided drop-down box. Enter the volumen of Dai (DAI) you would like to withdraw. Don't forget the shown fees/minimums. Also make sure you have filled your precise withdraw address. If you're satisfied, make a mouse click on “Submit”. You may be asked for verfication via email/phone before a take off.