How to Buy cDAI (CDAI) in Iceland

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

Step 1 – Signup to Kraken

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

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

Your Bitcoin or Ethereum has to be sent over to an Crypto Trader now. All exchanges have a deposit form that is identical. cDAI (CDAI) is obtainable on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this manual)

Make sure you have chosen the correct coin you would like to deposit.

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our manual).

Step 3 – Find cDAI (CDAI)

Once your deposit has been confirmed, you will directly have access to your assets and you can commence invest and trading. To purchase (CDAI) cDAI on Binance, you will want to go to the “Exchange” tab and then mouse click on “Basic”.

To spot cDAI (CDAI), you'll need to put the short name of the asset (CDAI) into the search box, which is marked in the graphic. Be certain of having choosen the right grouping, we've highlighted this also. Click on “CDAI/BTC” to proceed.

Step 4 – Buying (CDAI) cDAI

After you have spotted 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 picture). And now we are making our Limit Order.

The field with the “Price” tag will be automatically filled with the most up-to-date tariff (CDAI) cDAI was traded for. You can change this 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'll settle for the whole amount of CDAI.

If you are happy, click on “Buy CDAI”. Your plan will be filled as soon as a Seller sells their CDAI for the price you submitted.

Step 5 – Withdraw (CDAI) cDAI

Unless you are regularly trading, best advise is not to keep coins on an Crypto Exchange for an extensive time period. 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, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate cDAI (CDAI) by using the given drop-down box. Put into the amount of cDAI (CDAI) you'd like to take off. Don't forget the demonstrated minimus/fees. Also make sure you have filled your precise withdraw address.

When you are satisfied, click on “Submit”. You could be requested for phone/email verification before a take off.

Congratulations! You have successfully purchased and safed cDAI (CDAI) in Iceland.

That's it!

Take offs from Exchange can take between 1 – 30 minutes (depending on network usage). Once you have proved your take off using Ethplorer.io or Etherscan.io and the cDAI (CDAI) is stored in your wallet, you are done.