How to Buy cDAI (CDAI) in Barbados

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

Step 1 – Join Kraken

In the beginning you'll need to purchase one of the top-tier coins. Exchanges usually accept either Ethereum or Bitcoin in exchange for alternative Coins. Click the button below for registration and to get your welcome Bitcoin or Ethereum.

Step 2 – Transfer Your Bitcoin (BTC) or Ethereum (ETH) to an Crypto Trader

Your BTC (Bitcoin) or ETH (Ethereum) will need 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 funds from Coinbase to an Exchange? (Follow these easy steps)

Make sure you have chosen the correct coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. In the case you're working with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our how-to).

Step 3 – Locate cDAI (CDAI)

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

In order to find cDAI (CDAI), you'll need to insert the shortname of the coin (CDAI) into the search box, which is marked in the image. Make sure you have choosen the correct grouping, we have highlighted this also. Click on “CDAI/BTC” to proceed.

Step 4 – Buying cDAI (CDAI)

Once you have spotted (CDAI) cDAI, you will be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). For now we are creating our own Limit Order.

The field with the “Price” tag will be filled with the recent rate (CDAI) cDAI was traded for. This can be changed to your favoured rate. The field with the “Amount” tag is the volumen of CDAI you like to purchase. The field with the “Total” tag is the aggregated price in BTC that you'll pay for the whole amount of CDAI.

If you're glad, make a mouse click on “Buy CDAI”. Your order will be filled when a Vender trades their CDAI for the price you offered.

Step 5 – Withdraw cDAI (CDAI)

Unless you're frequently trading, you should never keepyour crypto on an Crypto Trader for an extended period of time. In order to take off your (CDAI) cDAI, hover over the tab called “Funds” and mouse click on “Withdraw”. (CDAI) cDAI can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find (CDAI) cDAI by using the provided drop-down box. Put into the volumen of cDAI (CDAI) you would like to take off. Take into account the displayed minimus/fees. Also make sure you have filled your precise withdraw address.

If you are satisfied, make a mouse click on “Submit”. You may be asked for verfication via phone/email ahead of a withdrawal.

Congratulations! You have successfully purchased and stored (CDAI) cDAI in Barbados.

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (depending on network usage). Once you've confirmed your withdrawal with Etherscan.io or Ethplorer.io and the cDAI (CDAI) is stored in your wallet, you are done.