How to Buy cDAI (CDAI) in Mongolia

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

Step 1 – Signup to Coinbase and get 10$ for free

In the beginning you'll need to purchase units of the top-tier currencies. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below to register and getting your welcome $10.

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

Your Ethereum or Bitcoin has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. cDAI (CDAI) is accessible on Binance, so we will use that as an example. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow these easy steps)

Make sure you've chosen the precise coin you wish to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so forth. If you're dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Just follow our guide).

Step 3 – Locate (CDAI) cDAI

As soon as your deposit has been verified, you'll instantly have access to your assets and you can start 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 locate cDAI (CDAI), you'll need to insert the short name of the asset (CDAI) into the search-box, which is highlighted in the picture. Be certain of having selected the right grouping, we have marked this too. Click on “CDAI/BTC” to proceed.

Step 4 – Acquisition of cDAI (CDAI)

Once you've found (CDAI) cDAI, you'll be presented with a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the image). Next we are going to create our Limit Order.

The field with the “Price” tag will be automatically filled with the latest price cDAI (CDAI) was traded for. This can be changed to your desired rate. The “Amount” field is the amount of CDAI you want to buy. The field with the “Total” tag is the whole price in BTC that you will pay for the complete amount of CDAI.

When you're happy, click on “Buy CDAI”. Your plan will be filled when a Vendor trades their CDAI for the price you introduced.

Step 5 – Withdraw cDAI (CDAI)

Unless you're trading, best advise is not to keep crypto coins on an Exchange for an longer time frame. To take off your cDAI (CDAI), go to the tab called “Funds” and mouse click on “Withdraw”. (CDAI) cDAI can be securely 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 would wish to take off. Take into account the demonstrated minimus/fees. Also make sure you have filled your correct withdraw address.

If you are glad, click on “Submit”. You may be requested for verfication via email/phone before a withdrawal.

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

That's it!

Withdrawals from Cryptocurrency Exchange can durate between 1 – 30 minutes (depending on network usage). Once you've confirmed your withdrawal using Etherscan.io or Ethplorer.io and the cDAI (CDAI) is safe in your wallet, you're finished.