How to Buy cDAI (CDAI) in Andorra

A Step-by-Step-Guide on how to buy cDAI (CDAI) in Andorra

Step 1 – Join Kraken

You will first need to buy one of the bigger currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Follow the Link below for registration and to get your welcome Ethereum or Bitcoin.

Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Cryptocurrency Exchange

Your Ethereum or Bitcoin has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. cDAI (CDAI) is available on Binance, so we're going to use that as an illustration. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this manual)

Make sure you have selected the precise coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. If you are working with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow these easy steps).

Step 3 – Find (CDAI) cDAI

As soon as your deposit has been affirmed, you'll now have access to your finances and you can launch invest and trading. To buy cDAI (CDAI) on Binance, you will want to hover over the “Exchange” tab and after that mouse click on “Basic”.

In order to discover cDAI (CDAI), you will need to put the short name of the asset (CDAI) into the search-box, which is marked in the image. Make sure you have choosen the proper grouping, we have highlighted this also. Click on “CDAI/BTC” to proceed.

Step 4 – Acquisition of (CDAI) cDAI

As soon as you've spotted cDAI (CDAI), you'll be presented with a Price Chart (in the Center of the picture) and some Order Books (Leftside of the picture). And now we are creating our own Limit Order.

The “Price” field will be filled automatically with the up-to-date valuation cDAI (CDAI) was traded for. You can change this to your preferred rate. The field with the “Amount” tag is the quantity of CDAI you wish to buy. The field with the “Total” tag is the total price in BTC that you'll settle for the complete volumen of CDAI.

If you're happy, click on “Buy CDAI”. Your order will be filled when a Vendor trades their CDAI for the price you submitted.

Step 5 – Withdraw cDAI (CDAI)

Unless you are regularly trading, you should never keepyour crypto coins on an Exchange for an extensive period of time. To withdraw your cDAI (CDAI), go to the tab called “Funds” and mouse click on “Withdraw”. cDAI (CDAI) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find (CDAI) cDAI by using the given drop-down box. Enter the amount of cDAI (CDAI) you would like to take off. Take into account the demonstrated fees/minimums. Also make sure you have filled your right withdraw address.

When you are glad, make a mouse click on “Submit”. You could be requested for email/phone verification ahead of a withdrawal.

Congrats! You have successfully bought and safed cDAI (CDAI) in Andorra.

That's it!

Take offs from Crypto Exchange can take between 1 – 30 minutes (rely on usage of the network). As soon as you've proved your take off using Etherscan.io or Ethplorer.io and the cDAI (CDAI) is safe inside your wallet, you're finished.