How to Buy cDAI (CDAI) in Canada

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

Step 1 – Join CEX.io

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

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

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an 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 this how-to)

Make sure you've chosen the exact coin you want to deposit.

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

Step 3 – Find cDAI (CDAI)

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

In order to spot (CDAI) cDAI, you'll need to put the cointype (CDAI) into the search-box, which is highlighted in the graphic. Make sure you have selected the right pairing, we've marked this also. Click on “CDAI/BTC” to progress.

Step 4 – Purchasing (CDAI) cDAI

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

The “Price” field will be filled with the latest price (CDAI) cDAI was traded for. This can be changed to your favoured rate. The field with the “Amount” tag is the amount of CDAI you want to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you'll settle for the whole quantity of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you're regularly trading, best advise is not to keep crypto coins on an Crypto 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 securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (CDAI) cDAI by using the provided drop-down box. Drop in the quantity of cDAI (CDAI) you'd wish to withdraw. Take into account the displayed fees/minimums. Also make sure you have filled your correct withdraw address.

When you are glad, make a mouse click on “Submit”. You may be asked for verfication via email/phone before a withdrawal.

Congrats! You have successfully purchased and stored (CDAI) cDAI in Canada.

That's it!

Take offs from Crypto Exchange can durate anywhere from 1 – 30 minutes (rely on network usage). As soon as you've proved your withdrawal using Etherscan.io or Ethplorer.io and the cDAI (CDAI) is stored inside your wallet, you are done.