How to Buy cDAI (CDAI) in Korea

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

Step 1 – Join Kraken

You'll first need to buy units of the top-tier currencies. Exchanges commonly accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click below for registration and to get your welcome BTC (Bitcoin) or ETH (Ethereum).

Step 2 – Transfer Your Bitcoin or Ethereum to an Exchange

Your Bitcoin or Ethereum will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. cDAI (CDAI) is obtainable on Binance, so we're going to use that as an sample. Not sure on how to send funds from Coinbase to an Exchange? (Follow this guide)

Make sure you have chosen the right coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, et cetera. In the case you're working with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our guide).

Step 3 – Find (CDAI) cDAI

Once your deposit has been verified, you will directly have access to your assets and you can initiate invest and trading. To purchase (CDAI) cDAI on Binance, you will want to hover over the tab which is called “Exchange” and mouse click on “Basic”.

To locate cDAI (CDAI), you will need to put the short name of the asset (CDAI) into the search-box, which is highlighted in the graphic. Make sure you have choosen the correct grouping, we have marked this too. Click on “CDAI/BTC” to proceed.

Step 4 – Purchase (CDAI) cDAI

After you've located (CDAI) cDAI, you'll be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the picture). Next we're going to create our own Limit Order.

The “Price” field will be automatically filled with the most recent rate cDAI (CDAI) was sold for. This can be changed to your favoured rate. The “Amount” field is the quantity of CDAI you want to purchase. The “Total” field is the whole price in Bitcoin that you will settle for the whole volumen of CDAI.

When you're happy, make a mouse click on “Buy CDAI”. Your plan will be filled when a Seller sells their CDAI for the price you gave.

Step 5 – Withdraw (CDAI) cDAI

Unless you're frequently trading, best advise is not to keep your crypto on an Exchange for an extended time frame. To take off your cDAI (CDAI), go to the “Funds” tab and 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. Take into account the shown minimus/fees. Also make sure you have entered your right withdraw address.

If you're happy, click on “Submit”. You could be asked for verfication via email/phone ahead of a withdrawal.

Kudos! You've successfully purchased and stored cDAI (CDAI) in Korea.

That's it!

Take offs from Exchange can durate anywhere from 1 – 30 minutes (rely on network usage). As soon as you have confirmed your withdrawal with Etherscan.io or Ethplorer.io and the (CDAI) cDAI is safe inside your wallet, you are all done.