How to Buy cDAI (CDAI) in Guernsey

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

Step 1 – Join Kraken

You'll first need to buy one of the major currencies. Exchanges normally accept either Ethereum or Bitcoin in exchange for Altcoins. Click the button below for registration and getting your first Bitcoin or Ethereum.

Step 2 – Send Your Funds to an Cryptocurrency Exchange

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is accessible on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Crypto Trader? (Just follow this manual)

Make sure you've chosen the precise coin you want to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. If you are using a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our how-to).

Step 3 – Locate cDAI (CDAI)

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

To find cDAI (CDAI), you'll need to put the shortname of the coin (CDAI) into the search box, which is highlighted in the graphic. Make sure you have selected the proper grouping, we've highlighted this also. Click on “CDAI/BTC” to progress.

Step 4 – Acquisition of (CDAI) cDAI

As soon as you have located cDAI (CDAI), you'll be presented with a Price Chart (in the Center of the picture) and some Order Books (on the Left of the image). And now we are going to create our Limit Order.

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

When you're satisfied, click on “Buy CDAI”. Your order will be filled as soon as a Vender sells their CDAI for the price you gave.

Step 5 – Withdraw cDAI (CDAI)

Unless you are frequently trading, you should never keepyour crypto coins on an Cryptocurrency Exchange for an extended period of time. To take off your (CDAI) cDAI, go to the “Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find (CDAI) cDAI by using the provided drop-down box. Drop in the amount of (CDAI) cDAI you would like to take off. Don't forget the displayed fees/minimums. Also make sure you have filled your right withdraw address.

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

Congrats! You have successfully bought and safed (CDAI) cDAI in Guernsey.

That's it!

Withdrawals from Exchange can durate between 1 – 30 minutes (depending on network usage). Once you have proved your withdrawal with Ethplorer.io or Etherscan.io and the cDAI (CDAI) is stored within your wallet, you're finished.