How to Buy cDAI (CDAI) in Cyprus

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

Step 1 – Join Kraken

In the beginning you'll need to buy units of the top-tier currencies. Exchanges normally accept either Bitcoin or Ethereum in exchange for alternative Coins. Click below for registration and getting your first Ethereum (ETH) or Bitcoin (BTC).

Step 2 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange

Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is available on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow this how-to)

Make sure you've chosen the precise coin you would like to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so forth. 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

As soon as your deposit has been approved, you'll directly have access to your finances and you can commence buying and trading. To invest in cDAI (CDAI) on Binance, you will want to go to the tab which is called “Exchange” and after that click on “Basic”.

To spot (CDAI) cDAI, you'll 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 right pairing, we have highlighted this too. Click on “CDAI/BTC” to go on.

Step 4 – Purchase cDAI (CDAI)

After you have located cDAI (CDAI), you'll be given a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). Next we are making our own Limit Order.

The field with the “Price” tag will be filled automatically with the latest tariff (CDAI) cDAI was sold for. You can change this to your desired price. The field with the “Amount” tag is the volumen of CDAI you like to buy. The “Total” field is the aggregated price in BTC that you'll pay for the complete volumen of CDAI.

If you're glad, click on “Buy CDAI”. Your plan will be filled when a Vendor trades their CDAI for the price you gave.

Step 5 – Withdraw (CDAI) cDAI

Unless you are frequently trading, best advise is not to keep coins on an Exchange for an extended period of time. In order to take off your cDAI (CDAI), hover over the tab called “Funds” 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 provided drop-down box. Enter the amount of cDAI (CDAI) you would wish to withdraw. Don't forget the presented minimus/fees. Also make sure you have entered your correct withdraw address.

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

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

That's it!

Withdrawals from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (rely on usage of the network). As soon as you have confirmed your take off with Ethplorer.io or Etherscan.io and the (CDAI) cDAI is safe in your wallet, you're done.