How to Buy cDAI (CDAI) in Germany

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

Step 1 – Signup to Kraken

In the beginning you'll need to purchase one of the top-tier currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for any other Cryptocurrency. Click the button below for registration and getting your welcome Bitcoin (BTC) or Ethereum (ETH).

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

Your Ethereum or Bitcoin will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is obtainable on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Just follow this guide)

Make sure you've chosen the exact coin you wish to deposit.

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. In the case you're working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our manual).

Step 3 – Find (CDAI) cDAI

Once your deposit has been approved, you will immediately have access to your finances and you can commence invest and trading. To buy (CDAI) cDAI on Binance, you will want to go to the “Exchange” tab and after that mouse click on “Basic”.

To discover cDAI (CDAI), you will need to put the cointype (CDAI) into the search box, which is marked in the graphic. Be certain of having choosen the proper grouping, we have marked this too. Click on “CDAI/BTC” to continue.

Step 4 – Acquisition of (CDAI) cDAI

As soon as you've found (CDAI) cDAI, you will be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). And now we are going to make our own Limit Order.

The field with the “Price” tag will be filled with the most up-to-date valuation cDAI (CDAI) was traded for. This can be changed to your desired price. The “Amount” field is the volumen of CDAI you want to purchase. The field with the “Total” tag is the aggregated price in BTC that you will settle for the whole quantity of CDAI.

If you're happy, click on “Buy CDAI”. Your order will be filled when a Vender sells their CDAI for the price you introduced.

Step 5 – Withdraw (CDAI) cDAI

Unless you're trading, best advise is not to keep your crypto coins on an Crypto Exchange for an extended period of time. To take off your cDAI (CDAI), hover over the “Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

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

When you're glad, click “Submit”. You may be asked for phone/email verification before a withdrawal.

Congrats! You have successfully bought and stored cDAI (CDAI) in Germany.

That's it!

Withdrawals from Cryptocurrency Exchange can durate between 1 – 30 minutes (rely on network usage). Once you have confirmed your withdrawal using Etherscan.io or Ethplorer.io and the cDAI (CDAI) is stored inside your wallet, you're done.