How to Buy cDAI (CDAI) in Bermuda

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

Step 1 – Signup to Kraken

In the beginning you'll need to purchase one of the major coins. Exchanges normally accept either Bitcoin or Ethereum in exchange for alternative Coins. Follow the Link below for registration and getting your first Ethereum (ETH) or Bitcoin (BTC).

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

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Exchange now. All exchanges have a deposit form that is alike. cDAI (CDAI) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this manual)

Make sure you've selected the right coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, et cetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our guide).

Step 3 – Find cDAI (CDAI)

As soon as your deposit has been confirmed, you will directly have access to your funds and you can commence purchasing and trading. To buy cDAI (CDAI) on Binance, you will want to hover over the tab which is called “Exchange” and after that click on “Basic”.

In order to discover (CDAI) cDAI, you will need to put the shortname of the coin (CDAI) into the search-box, which is highlighted in the picture. Be certain of having selected the right grouping, we have highlighted this also. Click on “CDAI/BTC” to advance.

Step 4 – Purchasing (CDAI) cDAI

Once you have found cDAI (CDAI), you will be presented with a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). For now we're going to create our own Limit Order.

The field with the “Price” tag will be automatically filled with the latest valuation (CDAI) cDAI was sold for. This can be changed to your preferred rate. The field with the “Amount” tag is the quantity of CDAI you like to buy. The field with the “Total” tag is the whole price in BTC that you'll settle for the complete amount of CDAI.

If you're happy, click on “Buy CDAI”. Your plan will be filled when a Vender sells their CDAI for the price you introduced.

Step 5 – Withdraw (CDAI) cDAI

Unless you are trading, never keep your coins on an Cryptocurrency Exchange for an extended time frame. To take off your (CDAI) cDAI, hover over the “Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate cDAI (CDAI) by using the given drop-down box. Enter the amount of (CDAI) cDAI you would wish to withdraw. Don't forget the demonstrated minimus/fees. Also make sure you have filled your precise withdraw address.

When you're satisfied, click “Submit”. You could be requested for phone/email verification before a withdrawal.

Congratulations! You've successfully purchased and stored (CDAI) cDAI in Bermuda.

That's it!

Withdrawals from Crypto Trader can durate between 1 – 30 minutes (depending on network usage). Once you have proved your take off with Etherscan.io or Ethplorer.io and the (CDAI) cDAI is safe within your wallet, you're all done.