How to Buy cDAI (CDAI) in New Zealand

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

Step 1 – Join CEX.io

You'll first need to purchase one of the bigger coins. Exchanges usually accept either Bitcoin or Ethereum in exchange for alternative Coins. Follow the Link below for registration and to get your welcome Ethereum or Bitcoin.

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

Your Ethereum or Bitcoin will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is alike. cDAI (CDAI) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow this guide)

Make sure you've chosen the right coin you want to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, et cetera. In the case you are using a decentralized exchange, such as Airswap or DDEX could be different (Follow our manual).

Step 3 – Find (CDAI) cDAI

Once your deposit has been verified, you'll directly have access to your finances and you can begin buying and trading. To purchase (CDAI) cDAI on Binance, you will want to hover over the “Exchange” tab and mouse click on “Basic”.

To find cDAI (CDAI), you will need to put the short name of the asset (CDAI) into the search-box, which is highlighted in the image. Make sure you have selected the correct grouping, we've highlighted this too. Click on “CDAI/BTC” to progress.

Step 4 – Purchasing (CDAI) cDAI

After you've spotted (CDAI) cDAI, you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the picture). And now we are creating our Limit Order.

The “Price” field will be filled automatically with the latest valuation cDAI (CDAI) was traded for. You can change this to your favoured rate. The “Amount” field 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 whole volumen of CDAI.

When you're satisfied, click on “Buy CDAI”. Your order will be filled as soon as a Seller trades their CDAI for the price you introduced.

Step 5 – Withdraw (CDAI) cDAI

Unless you are trading, never keep your coins on an Exchange for an longer time frame. In order to withdraw your cDAI (CDAI), go to the tab called “Funds” and click on “Withdraw”. cDAI (CDAI) can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

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

When you're satisfied, click on “Submit”. You may be requested for phone/email verification ahead of a take off.

Congratulations! You have successfully bought and safed cDAI (CDAI) in New Zealand.

That's it!

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