How to Buy cDAI (CDAI) in El Salvador

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

Step 1 – Join Kraken

You'll first need to purchase one of the bigger currencies. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click below to register and getting your first ETH (Ethereum) or BTC (Bitcoin).

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

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is obtainable on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Crypto Trader? (Follow these easy steps)

Make sure you have selected the precise coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, et cetera. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our guide).

Step 3 – Find (CDAI) cDAI

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

To find (CDAI) cDAI, you will need to insert the cointype (CDAI) into the search box, which is marked in the picture. Be certain of having selected the correct pairing, we've marked this too. Click on “CDAI/BTC” to advance.

Step 4 – Buying cDAI (CDAI)

Once you've spotted cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (on the Left of the image). For now we are creating our own Limit Order.

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

When you are satisfied, click on “Buy CDAI”. Your order will be filled as soon as a Seller sells their CDAI for the price you offered.

Step 5 – Withdraw cDAI (CDAI)

Unless you are frequently trading, best advise is not to keep your crypto coins on an Crypto Trader for an extensive time period. In order to withdraw your (CDAI) cDAI, hover over the “Funds” tab and click on “Withdraw”. (CDAI) cDAI can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (CDAI) cDAI by using the provided drop-down box. Enter the quantity of cDAI (CDAI) you'd like to take off. Take into account the displayed fees/minimums. Also make sure you have filled your right withdraw address.

When you're glad, click on “Submit”. You could be asked for verfication via phone/email before a take off.

Congrats! You've successfully bought and stored cDAI (CDAI) in El Salvador.

That's it!

Take offs from Crypto Exchange can take between 1 – 30 minutes (rely on usage of the network). As soon as you have proved your withdrawal using Etherscan.io or Ethplorer.io and the (CDAI) cDAI is safe in your wallet, you are done.