How to Buy cDAI (CDAI) in Bahamas

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

Step 1 – Signup to CEX.io

You will first need to buy one of the major coins. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for any other Cryptocurrency. Click the button below to register and to get your welcome Ethereum (ETH) or Bitcoin (BTC).

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

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. cDAI (CDAI) is accessible on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow these easy steps)

Make sure you have selected the correct coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etc. If you're dealing with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our how-to).

Step 3 – Locate cDAI (CDAI)

As soon as your deposit has been verified, you will directly have access to your finances and you can start purchasing and trading. To buy (CDAI) cDAI on Binance, you'll want to go to the “Exchange” tab and then click on “Basic”.

To find cDAI (CDAI), you will need to put the cointype (CDAI) into the search box, which is marked in the image. Make sure you have choosen the correct grouping, we've highlighted this also. Click on “CDAI/BTC” to progress.

Step 4 – Purchasing cDAI (CDAI)

After you have found cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). And now we are creating our own Limit Order.

The field with the “Price” tag will be filled with the latest valuation cDAI (CDAI) was traded for. This can be changed to your desired rate. The “Amount” field is the amount of CDAI you want to buy. The “Total” field is the whole price in BTC that you will pay for the complete volumen of CDAI.

When you're satisfied, make a mouse click on “Buy CDAI”. Your order will be filled as soon as a Vender sells their CDAI for the price you introduced.

Step 5 – Withdraw cDAI (CDAI)

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

Find (CDAI) cDAI by using the provided drop-down box. Enter the volumen of cDAI (CDAI) you would wish to take off. Take into account the presented fees/minimums. Also make sure you have entered your right withdraw address.

When you are satisfied, click on “Submit”. You could be asked for verfication via email/phone before a withdrawal.

Congrats! You've successfully purchased and safed (CDAI) cDAI in Bahamas.

That's it!

Withdrawals from Crypto Trader can take anywhere from 1 – 30 minutes (depending 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 within your wallet, you are finished.