How to Buy cDAI (CDAI) in Dominica

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

Step 1 – Join CEX.io

You'll first need to purchase one of the top-tier coins. Exchanges commonly accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for Altcoins. Click the button below to register and receive your welcome Bitcoin or Ethereum.

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

Your Bitcoin or Ethereum will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. cDAI (CDAI) is obtainable on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Exchange? (Follow this manual)

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

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, and so on. If you're dealing with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our how-to).

Step 3 – Find (CDAI) cDAI

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

To spot cDAI (CDAI), you'll need to insert the cointype (CDAI) into the search box, which is marked in the graphic. Be certain of having choosen the correct grouping, we've highlighted this too. Click on “CDAI/BTC” to proceed.

Step 4 – Buying cDAI (CDAI)

After you have discovered cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). Next we're making our Limit Order.

The “Price” field will be filled with the most recent price cDAI (CDAI) was sold for. This can be changed to your favoured price. The field with the “Amount” tag is the quantity of CDAI you want to purchase. The field with the “Total” tag is the whole price in Bitcoin that you'll pay for the complete amount of CDAI.

When you're satisfied, make a mouse click on “Buy CDAI”. Your plan will be filled as soon as a Seller trades their CDAI for the price you offered.

Step 5 – Withdraw cDAI (CDAI)

Unless you are trading, best advise is not to keep crypto coins on an Crypto Exchange for an extended period of time. In order to take off your cDAI (CDAI), go to the “Funds” tab and click on “Withdraw”. cDAI (CDAI) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (CDAI) cDAI by using the given drop-down box. Enter the volumen of (CDAI) cDAI you'd like to take off. Take into account the presented minimus/fees. Also make sure you have entered your right withdraw address.

If you're satisfied, click “Submit”. You may be asked for verfication via email/phone ahead of a take off.

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

That's it!

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