How to Buy cDAI (CDAI) in Hong Kong

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

Step 1 – Signup to Kraken

In the beginning you'll need to purchase one of the bigger currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Click below to register and receive your first BTC (Bitcoin) or ETH (Ethereum).

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

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. cDAI (CDAI) is available on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this guide)

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

BTC must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. If you are using a decentralized exchange, such as Airswap or DDEX could be different (Just follow our manual).

Step 3 – Locate (CDAI) cDAI

As soon as your deposit has been approved, you'll immediately have access to your funds and you can start purchasing and trading. To invest in (CDAI) cDAI on Binance, you'll want to hover over the “Exchange” tab and click on “Basic”.

In order to locate (CDAI) cDAI, you'll need to insert the cointype (CDAI) into the search-box, which is highlighted in the graphic. Be certain of having selected the correct pairing, we have marked this also. Click on “CDAI/BTC” to advance.

Step 4 – Acquisition of (CDAI) cDAI

After you have discovered (CDAI) cDAI, you will be presented with a Price Chart (in the Center of the image) and some Order Books (on the Left of the image). And now we're making our Limit Order.

The field with the “Price” tag will be filled with the most recent tariff cDAI (CDAI) was traded for. You can change this to your desired price. The “Amount” field is the amount of CDAI you want to buy. The “Total” field is the aggregated price in BTC that you will pay for the complete volumen of CDAI.

When you're happy, make a mouse click on “Buy CDAI”. Your plan will be filled as soon as a Vendor trades their CDAI for the price you introduced.

Step 5 – Withdraw (CDAI) cDAI

Unless you are frequently trading, never keep your crypto on an Crypto Exchange for an longer 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 instance MyEtherWallet. (MyEtherWallet Setup Guide)

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

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

Congrats! You've successfully bought and stored (CDAI) cDAI in Hong Kong.

That's it!

Withdrawals from Cryptocurrency Exchange can durate between 1 – 30 minutes (depending on usage of the network). Once you have proved your take off using Etherscan.io or Ethplorer.io and the cDAI (CDAI) is safe inside your wallet, you are finished.