How to Buy cDAI (CDAI) in Iran

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

Step 1 – Signup to Kraken

You will first need to buy one of the bigger currencies. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Click below for registration and getting your first Bitcoin (BTC) or Ethereum (ETH).

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

Your ETH (Ethereum) or BTC (Bitcoin) has to be sent over to an Crypto Trader now. Every exchange has a deposit form that is alike. cDAI (CDAI) is available 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 have selected the correct coin you want to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, and so forth. If you're using 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 assets and you can initiate purchasing and trading. To purchase cDAI (CDAI) on Binance, you will want to go to the “Exchange” tab and click on “Basic”.

In order to locate cDAI (CDAI), you will need to put the cointype (CDAI) into the search box, which is marked in the picture. Make sure you have choosen the proper grouping, we have marked this also. Click on “CDAI/BTC” to go ahead.

Step 4 – Purchase cDAI (CDAI)

Once you've discovered (CDAI) cDAI, you'll be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the picture). For now we are making our own Limit Order.

The field with the “Price” tag will be filled automatically with the recent price cDAI (CDAI) was traded for. This can be changed to your desired rate. The field with the “Amount” tag is the volumen of CDAI you wish to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you'll settle for the whole quantity of CDAI.

If you are happy, make a mouse click on “Buy CDAI”. Your order will be filled as soon as a Vendor trades their CDAI for the price you offered.

Step 5 – Withdraw (CDAI) cDAI

Unless you're frequently trading, best advise is not to keep your crypto on an Exchange for an longer time frame. To take off your cDAI (CDAI), hover over the “Funds” tab and click on “Withdraw”. (CDAI) cDAI can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find cDAI (CDAI) by using the provided drop-down box. Put into the amount of cDAI (CDAI) you'd like to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have entered your precise withdraw address.

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

Congratulations! You have successfully bought and stored (CDAI) cDAI in Iran.

That's it!

Take offs from Crypto Trader can durate anywhere from 1 – 30 minutes (rely on network usage). As soon as you have proved your withdrawal with Etherscan.io or Ethplorer.io and the (CDAI) cDAI is stored in your wallet, you're all done.