How to Buy cDAI (CDAI) in Cayman Islands

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

Step 1 – Signup to Kraken

In the beginning you'll need to purchase units of the bigger currencies. Exchanges commonly accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click the button below for registration and getting your first Ethereum or Bitcoin.

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

Your Bitcoin or Ethereum has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. cDAI (CDAI) is obtainable on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Crypto Trader? (Follow this how-to)

Make sure you have chosen the precise coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etc. In the case you are using a decentralized exchange, like Airswap or DDEX could be opposed (Follow our manual).

Step 3 – Find (CDAI) cDAI

As soon as your deposit has been confirmed, you will now have access to your funds and you can start invest and trading. To purchase (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 put the shortname of the coin (CDAI) into the search box, which is highlighted in the image. Be certain of having selected the correct pairing, we have marked this too. Click on “CDAI/BTC” to go on.

Step 4 – Acquisition of cDAI (CDAI)

Once you have located cDAI (CDAI), you'll be given a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). Next we're creating our Limit Order.

The “Price” field will be automatically filled with the most up-to-date tariff (CDAI) cDAI was sold for. You can change this to your desired rate. The “Amount” field is the quantity of CDAI you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you will settle for the whole volumen of CDAI.

When you're happy, make a mouse click on “Buy CDAI”. Your order will be filled as soon as a Vendor trades their CDAI for the price you gave.

Step 5 – Withdraw cDAI (CDAI)

Unless you're regularly trading, best advise is not to keep crypto on an Cryptocurrency Exchange for an longer time period. To take off your (CDAI) cDAI, hover over the “Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find (CDAI) cDAI by using the provided drop-down box. Drop in the amount of cDAI (CDAI) you'd like to take off. Don't forget the demonstrated minimus/fees. Also make sure you have entered your correct withdraw address.

When you're glad, click “Submit”. You may be asked for email/phone verification ahead of a withdrawal.

Kudos! You have successfully purchased and stored cDAI (CDAI) in Cayman Islands.

That's it!

Withdrawals from Cryptocurrency Exchange can take between 1 – 30 minutes (rely on usage of the network). As soon as you have confirmed your withdrawal using Ethplorer.io or Etherscan.io and the cDAI (CDAI) is stored within your wallet, you're finished.