How to Buy cDAI (CDAI) in Dominica

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

Step 1 – Signup to Coinbase and recieve 10$ for free

You'll first need to buy units of the major coins. Exchanges normally accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Click the button below for registration and getting your first 10 Dollar.

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

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is similar. cDAI (CDAI) is accessible on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Crypto Exchange? (Just follow this manual)

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

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so forth. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our manual).

Step 3 – Locate (CDAI) cDAI

Once your deposit has been verified, you'll instantly have access to your assets and you can launch buying and trading. To purchase cDAI (CDAI) on Binance, you will want to hover over the tab which is called “Exchange” and then mouse click on “Basic”.

To find (CDAI) cDAI, you'll need to put 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 continue.

Step 4 – Buying cDAI (CDAI)

Once you have located cDAI (CDAI), you'll be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the image). And now we are making our Limit Order.

The “Price” field will be automatically filled with the latest price (CDAI) cDAI was sold for. This can be changed to your desired rate. The “Amount” field is the amount of CDAI you wish to buy. The “Total” field is the whole price in Bitcoin that you will settle for the whole amount of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

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

Find (CDAI) cDAI by using the provided drop-down box. Put into the quantity of (CDAI) cDAI you'd like to withdraw. Don't forget the shown minimus/fees. Also make sure you have filled your correct withdraw address.

When you are satisfied, make a mouse click on “Submit”. You could be asked for email/phone verification before a take off.

Congrats! You have successfully purchased and stored cDAI (CDAI) in Dominica.

That's it!

Take offs from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). As soon as you have proved your withdrawal with Ethplorer.io or Etherscan.io and the (CDAI) cDAI is safe inside your wallet, you're all done.