A Step-by-Step-Guide on how to buy Dai (DAI)
Step 1 – Join CEX.io In the beginning you'll need to buy units of the top-tier coins. Exchanges normally accept either Bitcoin or Ethereum in exchange for alternative Coins. Click the button below to register and to get your Bitcoin or Ethereum.
Step 2 – Transmit Your Ethereum or Bitcoin to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. Dai (DAI) is accessible on Binance, so we're going to use that as an illustration. Unsure on how to send funds from Coinbase to an Exchange? (Follow this guide) Make sure you've chosen the right coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so on. In the case you are using a decentralized exchange, like Airswap or DDEX could be divergent (Follow these easy steps).
Step 3 – Find (DAI) Dai Once your deposit has been confirmed, you will directly have access to your funds and you can initiate buying and trading. To buy (DAI) Dai on Binance, you will want to go to the ”Exchange” tab and after that mouse click on “Basic”. To locate (DAI) Dai, you will need to put the shortname of the coin (DAI) into the search box, which is marked in the picture. Make sure you have selected the proper pairing, we have marked this too. Click on “DAI/BTC” to continue.
Step 4 – Purchasing Dai (DAI) After you've spotted Dai (DAI), you'll be presented with a Price Chart (in the Center of the image) and a few Order Books (on the Left of the image). And now we're creating our own Limit Order. The ”Price” field will be automatically filled with the recent tariff Dai (DAI) was sold for. This can be changed to your preferred price. The ”Amount” field is the volumen of DAI you like to buy. The ”Total” field is the whole price in BTC that you'll pay for the complete volumen of DAI. When you are happy, make a mouse click on “Buy DAI”. Your order will be filled as soon as a Vendor sells their DAI for the price you gave.
Step 5 – Withdraw (DAI) Dai Unless you're frequently trading, best advise is not to keep crypto on an Cryptocurrency Exchange for an longer period of time. To take off your (DAI) Dai, go to the tab called “Funds” and mouse click on “Withdraw”. (DAI) Dai can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate (DAI) Dai by using the provided drop-down box. Put into the volumen of (DAI) Dai you'd like to take off. Take into account the shown minimus/fees. Also make sure you have filled your right withdraw address. When you're satisfied, click “Submit”. You could be asked for phone/email verification ahead of a take off.