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 – Transmit Your Ethereum or Bitcoin to an Crypto Trader Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Dai (DAI) is available on Binance, so we will use that as an illustration. Not sure on how to send Coinbase funds to an Crypto Trader? (Just follow these easy steps) Make sure you have chosen the right coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etcetera. If you are using a decentralized exchange, like Airswap or DDEX could be divergent (Follow our how-to).
Step 3 – Locate Dai (DAI) As soon as your deposit has been affirmed, you will directly have access to your finances and you can start invest and trading. To purchase Dai (DAI) on Binance, you will want to go to the ”Exchange” tab and after that click on “Basic”. In order to spot Dai (DAI), you will need to put the shortname of the coin (DAI) into the search box, which is marked in the picture. Be certain of having selected the proper grouping, we have highlighted this too. Click on “DAI/BTC” to go ahead.
Step 4 – Purchase Dai (DAI) As soon as you have found Dai (DAI), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). Next we're going to make our own Limit Order. The ”Price” field will be filled with the most latest tariff Dai (DAI) was traded for. This can be changed to your favoured price. The field with the “Amount” tag is the quantity of DAI you like to purchase. The field with the “Total” tag is the aggregated price in Bitcoin that you will settle for the complete amount of DAI. When you are satisfied, make a mouse click on “Buy DAI”. Your plan will be filled when a Vender trades their DAI for the price you introduced.
Step 5 – Withdraw Dai (DAI) Unless you're frequently trading, best advise is not to keep crypto on an Exchange for an extensive period of time. In order to take off your Dai (DAI), hover over the ”Funds” tab and click on “Withdraw”. Dai (DAI) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find Dai (DAI) by using the given drop-down box. Put into the amount of Dai (DAI) you would wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your correct withdraw address. If you are happy, click on “Submit”. You may be requested for verfication via email/phone before a take off.