How to Buy cDAI (CDAI) in Monaco

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

Step 1 – Join Kraken

You will first need to buy units of the top-tier currencies. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Click the button below to register and to get your welcome BTC (Bitcoin) or ETH (Ethereum).

Step 2 – Send Your Ethereum or Bitcoin to an Crypto Exchange

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Exchange now. All exchanges have 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 Coinbase funds to an Cryptocurrency Exchange? (Just follow this guide)

Make sure you've selected the precise coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etc. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our how-to).

Step 3 – Find (CDAI) cDAI

As soon as your deposit has been approved, you will instantly have access to your assets and you can begin buying and trading. To invest in cDAI (CDAI) on Binance, you'll want to go to the “Exchange” tab and then click on “Basic”.

To discover cDAI (CDAI), you will need to insert the cointype (CDAI) into the search-box, which is marked in the picture. Make sure you have choosen the proper pairing, we've highlighted this also. Click on “CDAI/BTC” to go on.

Step 4 – Buying cDAI (CDAI)

As soon as you have located (CDAI) cDAI, you will be given a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the image). Next we are going to make our own Limit Order.

The field with the “Price” tag will be automatically filled with the most latest rate (CDAI) cDAI was sold for. You can change this to your favoured rate. The field with the “Amount” tag is the volumen of CDAI you like to buy. The “Total” field is the total price in Bitcoin that you'll settle for the complete volumen of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you are trading, best advise is not to keep your coins on an Exchange for an longer time frame. To withdraw your cDAI (CDAI), hover over the tab called “Funds” and click on “Withdraw”. (CDAI) cDAI can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate cDAI (CDAI) by using the given drop-down box. Enter the volumen of (CDAI) cDAI you'd wish to withdraw. Take into account the presented minimus/fees. Also make sure you have entered your correct withdraw address.

When you are satisfied, click “Submit”. You may be asked for verfication via email/phone before a withdrawal.

Kudos! You have successfully bought and safed cDAI (CDAI) in Monaco.

That's it!

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