How to Buy cDAI (CDAI) in Christmas Island

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

Step 1 – Signup to CEX.io

In the beginning you'll need to purchase units of the bigger coins. Exchanges commonly accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Follow the Link below for registration and receive your welcome Bitcoin or Ethereum.

Step 2 – Transfer Your Funds to an Cryptocurrency Exchange

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Exchange now. Every exchange has 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 how-to)

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

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, etcetera. If you're working with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow these easy steps).

Step 3 – Locate (CDAI) cDAI

Once your deposit has been approved, you will directly have access to your funds and you can launch buying and trading. To buy (CDAI) cDAI on Binance, you'll want to hover over the “Exchange” tab and then click on “Basic”.

To locate (CDAI) cDAI, you will need to insert the shortname of the coin (CDAI) into the search box, which is highlighted in the graphic. Be certain of having selected the proper grouping, we have marked this also. Click on “CDAI/BTC” to proceed.

Step 4 – Buying cDAI (CDAI)

After you've located cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). For now we're creating our own Limit Order.

The field with the “Price” tag will be automatically filled with the latest valuation cDAI (CDAI) was sold for. You can change this to your favoured rate. The field with the “Amount” tag is the volumen of CDAI you want to purchase. The field with the “Total” tag is the whole price in Bitcoin that you'll settle for the complete amount of CDAI.

When you are happy, make a mouse click on “Buy CDAI”. Your plan will be filled as soon as a Vender trades their CDAI for the price you introduced.

Step 5 – Withdraw cDAI (CDAI)

Unless you're trading, never keep your crypto on an Crypto Exchange for an longer time period. To take off your cDAI (CDAI), go to the “Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be securely 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 would like to take off. Take into account the demonstrated fees/minimums. Also make sure you have filled your right withdraw address.

When you're happy, click on “Submit”. You may be asked for email/phone verification before a withdrawal.

Kudos! You've successfully purchased and safed (CDAI) cDAI in Christmas Island.

That's it!

Withdrawals from Exchange can take anywhere from 1 – 30 minutes (rely on network usage). Once you have proved your withdrawal with Etherscan.io or Ethplorer.io and the cDAI (CDAI) is safe within your wallet, you're finished.