A Step-by-Step-Guide on how to buy cDAI (CDAI) in Bahrain
Step 1 – Join Kraken In the beginning you'll need to purchase units of the bigger currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Click below to register and to get your welcome Bitcoin or Ethereum.
Step 2 – Transmit Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is available on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow these easy steps) Make sure you have chosen the precise coin you would like to deposit. BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, et cetera. If you are dealing with a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).
Step 3 – Locate cDAI (CDAI) Once your deposit has been approved, you will immediately have access to your funds and you can initiate purchasing and trading. To buy cDAI (CDAI) on Binance, you will want to go to the “Exchange” tab and mouse click on “Basic”. In order to discover (CDAI) cDAI, you'll need to put the short name of the asset (CDAI) into the search-box, which is highlighted in the image. Be certain of having choosen the correct pairing, we have highlighted this also. Click on “CDAI/BTC” to proceed.
Step 4 – Buying cDAI (CDAI) After you've found cDAI (CDAI), you'll 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 “Price” field will be filled with the most latest rate cDAI (CDAI) was sold for. You can change this to your desired price. The “Amount” field is the quantity of CDAI you want to buy. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the whole volumen of CDAI. If you are glad, make a mouse click on “Buy CDAI”. Your order will be filled when a Seller trades their CDAI for the price you gave.
Step 5 – Withdraw cDAI (CDAI) Unless you are trading, you should never keepyour crypto on an Exchange for an longer time period. To take off your cDAI (CDAI), hover over the “Funds” tab and click on “Withdraw”. (CDAI) cDAI can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find cDAI (CDAI) by using the provided drop-down box. Put into the amount of cDAI (CDAI) you'd like to withdraw. Take into account the shown fees/minimums. Also make sure you have entered your correct withdraw address. When you're satisfied, click on “Submit”. You may be requested for phone/email verification ahead of a withdrawal.