How to Buy cDAI (CDAI) in Faroe Islands

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

Step 1 – Signup to CEX.io

You'll first need to purchase units of the top-tier coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for Altcoins. Follow the Link below to register and getting your welcome BTC (Bitcoin) or ETH (Ethereum).

Step 2 – Transmit Your Ethereum or Bitcoin to an Exchange

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. All exchanges have a deposit form that is similar. 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 Exchange? (Follow this how-to)

Make sure you've selected the correct coin you would like to deposit.

Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, etcetera. If you're working with a decentralized exchange, like Airswap or DDEX could be divergent (Follow our guide).

Step 3 – Locate (CDAI) cDAI

As soon as your deposit has been verified, you'll immediately have access to your finances and you can launch invest and trading. To purchase (CDAI) cDAI on Binance, you'll want to go to the “Exchange” tab and after that mouse click on “Basic”.

In order to discover cDAI (CDAI), you will need to insert the short name of the asset (CDAI) into the search-box, which is marked in the picture. Make sure you have selected the right pairing, we have highlighted this too. Click on “CDAI/BTC” to continue.

Step 4 – Buy cDAI (CDAI)

Once you've located cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). And now we're making our Limit Order.

The “Price” field will be automatically filled with the most up-to-date tariff (CDAI) cDAI was sold for. This can be changed to your favoured rate. The field with the “Amount” tag is the amount of CDAI you want to buy. The field with the “Total” tag is the whole price in Bitcoin that you will settle for the complete amount of CDAI.

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

Locate (CDAI) cDAI by using the provided drop-down box. Drop in the volumen of cDAI (CDAI) you'd wish to take off. Take into account the shown minimus/fees. Also make sure you have filled your precise withdraw address.

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

Congrats! You've successfully purchased and safed cDAI (CDAI) in Faroe Islands.

That's it!

Take offs from Crypto Trader can take between 1 – 30 minutes (depending on network usage). Once you've confirmed your take off using Etherscan.io or Ethplorer.io and the cDAI (CDAI) is stored in your wallet, you're all done.