How to Buy cDAI (CDAI) in Jamaica

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

Step 1 – Join Kraken

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

Step 2 – Transmit Your Ethereum or Bitcoin to an Cryptocurrency Exchange

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. cDAI (CDAI) is available on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Crypto Exchange? (Just follow this guide)

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

Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so on. In the case you are working with a decentralized exchange, like Airswap or DDEX could be different (Follow our guide).

Step 3 – Find (CDAI) cDAI

As soon as your deposit has been verified, you'll instantly have access to your funds and you can commence invest and trading. To purchase cDAI (CDAI) on Binance, you'll want to hover over the tab which is called “Exchange” and then mouse click on “Basic”.

In order to locate cDAI (CDAI), you'll need to insert the short name of the asset (CDAI) into the search-box, which is marked in the graphic. Be certain of having selected the proper pairing, we have marked this too. Click on “CDAI/BTC” to go on.

Step 4 – Acquisition of cDAI (CDAI)

As soon as you've found (CDAI) cDAI, you'll be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). And now we are making our own Limit Order.

The field with the “Price” tag will be automatically filled with the most up-to-date rate cDAI (CDAI) was sold for. This can be changed to your favoured price. The “Amount” field is the quantity of CDAI you wish to purchase. The “Total” field is the aggregated price in Bitcoin that you will pay for the complete amount of CDAI.

If you're glad, click on “Buy CDAI”. Your plan will be filled when a Vender trades their CDAI for the price you gave.

Step 5 – Withdraw (CDAI) cDAI

Unless you're regularly trading, best advise is not to keep your crypto coins on an Cryptocurrency Exchange for an longer time frame. In order to withdraw your cDAI (CDAI), hover over the tab called “Funds” 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 volumen of cDAI (CDAI) you would like to withdraw. Don't forget the presented minimus/fees. Also make sure you have filled your right withdraw address.

If you're glad, make a mouse click on “Submit”. You may be asked for email/phone verification before a withdrawal.

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

That's it!

Take offs from Crypto Exchange can durate between 1 – 30 minutes (depending on usage of the network). Once you've proved your take off with Etherscan.io or Ethplorer.io and the cDAI (CDAI) is safe inside your wallet, you're done.