How to Buy cDAI (CDAI) in Grenada

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

Step 1 – Signup to CEX.io

In the beginning you'll need to buy units of the major currencies. Exchanges normally accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Click the button below to register and receive your first ETH (Ethereum) or BTC (Bitcoin).

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

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. cDAI (CDAI) is obtainable on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Exchange? (Just follow these easy steps)

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

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, and so forth. In the case you are dealing with a decentralized exchange, like Airswap or DDEX could be different (Follow these easy steps).

Step 3 – Locate cDAI (CDAI)

Once your deposit has been approved, you will immediately have access to your finances and you can launch purchasing 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”.

In order to spot (CDAI) cDAI, you will need to put the cointype (CDAI) into the search-box, which is highlighted in the picture. Make sure you have selected the right grouping, we've highlighted this also. Click on “CDAI/BTC” to continue.

Step 4 – Acquisition of cDAI (CDAI)

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

The “Price” field will be automatically filled with the most recent rate cDAI (CDAI) was traded for. You can change this to your favoured price. The field with the “Amount” tag is the amount of CDAI you like to buy. 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 when a Vender sells their CDAI for the price you gave.

Step 5 – Withdraw (CDAI) cDAI

Unless you are regularly trading, never keep your crypto coins on an Cryptocurrency Exchange for an extended time period. To withdraw your (CDAI) cDAI, go to the tab called “Funds” and mouse click on “Withdraw”. (CDAI) cDAI can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (CDAI) cDAI by using the given drop-down box. Drop in the amount of cDAI (CDAI) you would like to take off. Take into account the shown fees/minimums. Also make sure you have filled your right withdraw address.

When you're glad, click on “Submit”. You could be asked for phone/email verification ahead of a withdrawal.

Congratulations! You have successfully bought and safed (CDAI) cDAI in Grenada.

That's it!

Withdrawals from Crypto Trader can durate between 1 – 30 minutes (depending on network usage). Once you have confirmed your withdrawal using Etherscan.io or Ethplorer.io and the (CDAI) cDAI is safe in your wallet, you're done.