How to Buy cDAI (CDAI) in Liberia

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

Step 1 – Signup to Kraken

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

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

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is available on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Exchange? (Follow this manual)

Make sure you have selected the exact coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, etc. If you are dealing with a decentralized exchange, such as 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 funds and you can commence purchasing and trading. To invest in cDAI (CDAI) on Binance, you'll want to go to the “Exchange” tab and after that click on “Basic”.

In order to find cDAI (CDAI), you will need to put the cointype (CDAI) into the search-box, which is marked in the image. Be certain of having choosen the correct grouping, we have highlighted this also. Click on “CDAI/BTC” to progress.

Step 4 – Acquisition of cDAI (CDAI)

As soon as you've spotted cDAI (CDAI), you will be presented with a Price Chart (in the Center of the picture) and some Order Books (on the Left of the image). For now we're making our Limit Order.

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

If you are happy, make a mouse click on “Buy CDAI”. Your order will be filled when a Vendor sells their CDAI for the price you introduced.

Step 5 – Withdraw (CDAI) cDAI

Unless you're regularly trading, never keep your coins on an Crypto Exchange for an longer time period. In order to withdraw your cDAI (CDAI), go to the “Funds” tab and mouse click on “Withdraw”. (CDAI) cDAI can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find cDAI (CDAI) by using the provided drop-down box. Enter the amount of (CDAI) cDAI you'd like to withdraw. Don't forget the shown minimus/fees. Also make sure you have filled your correct withdraw address.

When you are satisfied, click on “Submit”. You may be requested for verfication via email/phone ahead of a withdrawal.

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

That's it!

Withdrawals from Cryptocurrency Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). Once you have confirmed your take off using Ethplorer.io or Etherscan.io and the (CDAI) cDAI is stored within your wallet, you are done.