How to Buy cDAI (CDAI) in Denmark

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

Step 1 – Join Kraken

You'll first need to buy units of the bigger coins. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Click below to register and getting your first Bitcoin (BTC) or Ethereum (ETH).

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

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

Make sure you have selected the right coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so forth. In the case you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our guide).

Step 3 – Locate cDAI (CDAI)

Once your deposit has been approved, you'll instantly have access to your funds and you can initiate buying and trading. To purchase cDAI (CDAI) on Binance, you will want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

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

Step 4 – Buy cDAI (CDAI)

Once you've discovered cDAI (CDAI), you'll be presented with a Price Chart (in the Center of the image) and a few Order Books (on the Left of the picture). Next we are going to make our own Limit Order.

The “Price” field will be filled automatically with the most recent price (CDAI) cDAI was traded for. This can be changed to your preferred rate. The “Amount” field is the amount of CDAI you want to purchase. The “Total” field is the total price in Bitcoin that you'll settle for the complete quantity of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you're regularly trading, best advise is not to keep coins on an Cryptocurrency Exchange for an extended time period. To withdraw your (CDAI) cDAI, go to the “Funds” tab and click on “Withdraw”. cDAI (CDAI) can be securely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (CDAI) cDAI by using the given drop-down box. Put into the amount of cDAI (CDAI) you'd wish to take off. Don't forget the displayed fees/minimums. Also make sure you have entered your right withdraw address.

If you are satisfied, make a mouse click on “Submit”. You could be asked for verfication via phone/email ahead of a withdrawal.

Kudos! You've successfully purchased and stored (CDAI) cDAI in Denmark.

That's it!

Take offs from Crypto Trader can take anywhere from 1 – 30 minutes (rely on usage of the network). As soon as you have proved your take off with Ethplorer.io or Etherscan.io and the cDAI (CDAI) is stored in your wallet, you are all done.