How to Buy cDAI (CDAI) in Mongolia

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

Step 1 – Join Kraken

You'll first need to buy units of the bigger coins. Exchanges usually accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for any other Cryptocurrency. Click below to register and getting your first Ethereum or Bitcoin.

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

Your Ethereum or Bitcoin will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. cDAI (CDAI) is obtainable on Binance, so we will use that as an example. Not sure on how to send funds from Coinbase to an Crypto Trader? (Just follow this how-to)

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

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

Step 3 – Locate cDAI (CDAI)

Once your deposit has been affirmed, you'll now have access to your assets and you can launch purchasing and trading. To buy (CDAI) cDAI on Binance, you will want to go to the “Exchange” tab and then click on “Basic”.

In order to spot (CDAI) cDAI, you'll need to put the cointype (CDAI) into the search box, which is marked in the graphic. Be certain of having choosen the right pairing, we've highlighted this also. Click on “CDAI/BTC” to progress.

Step 4 – Purchase cDAI (CDAI)

Once you've spotted cDAI (CDAI), you will be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the picture). And now we're making our Limit Order.

The “Price” field will be filled with the up-to-date valuation (CDAI) cDAI was traded for. This can be changed to your desired rate. The field with the “Amount” tag is the quantity of CDAI you want to buy. The field with the “Total” tag is the whole price in BTC that you will settle for the whole amount of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

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

Find (CDAI) cDAI by using the given drop-down box. Put into the amount of cDAI (CDAI) you would wish to withdraw. Take into account the displayed fees/minimums. Also make sure you have filled your correct withdraw address.

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

Congrats! You've successfully bought and safed (CDAI) cDAI in Mongolia.

That's it!

Take offs from Cryptocurrency Exchange can take between 1 – 30 minutes (depending on network usage). Once you have proved your take off using Ethplorer.io or Etherscan.io and the cDAI (CDAI) is stored within your wallet, you're done.