How to Buy cDAI (CDAI) in China

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

Step 1 – Join Kraken

You'll first need to purchase units of the major coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click the button below for registration and to get your welcome Bitcoin (BTC) or Ethereum (ETH).

Step 2 – Transmit Your Bitcoin or Ethereum to an Crypto Exchange

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is identical. cDAI (CDAI) is available on Binance, so we will use that as an illustration. Not sure on how to send Coinbase funds to an Exchange? (Follow this manual)

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

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. If you're working with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our guide).

Step 3 – Locate cDAI (CDAI)

As soon as your deposit has been approved, you'll directly have access to your finances and you can initiate invest and trading. To purchase (CDAI) cDAI on Binance, you'll want to go to the “Exchange” tab and then click on “Basic”.

To spot cDAI (CDAI), you'll need to insert the cointype (CDAI) into the search box, which is marked in the image. Make sure you have selected the correct pairing, we have marked this also. Click on “CDAI/BTC” to continue.

Step 4 – Purchasing cDAI (CDAI)

As soon as you've discovered 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 going to make our own Limit Order.

The field with the “Price” tag will be filled automatically with the latest price cDAI (CDAI) was traded for. This can be changed to your desired price. The “Amount” field is the quantity of CDAI you wish to purchase. The field with the “Total” tag is the whole price in BTC that you'll pay for the complete quantity of CDAI.

When you are glad, make a mouse click on “Buy CDAI”. Your order will be filled when a Vendor trades their CDAI for the price you gave.

Step 5 – Withdraw cDAI (CDAI)

Unless you're regularly trading, you should never keepyour coins on an Exchange for an longer time period. In order to take off your cDAI (CDAI), hover over the “Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find cDAI (CDAI) by using the given drop-down box. Drop in the quantity of (CDAI) cDAI you'd wish to withdraw. Take into account the shown minimus/fees. Also make sure you have filled your right withdraw address.

If you are glad, click on “Submit”. You could be requested for verfication via phone/email before a withdrawal.

Kudos! You have successfully bought and safed cDAI (CDAI) in China.

That's it!

Withdrawals from Crypto Exchange can durate anywhere from 1 – 30 minutes (depending on network usage). Once you've confirmed your take off with Ethplorer.io or Etherscan.io and the (CDAI) cDAI is stored inside your wallet, you are all done.