How to Buy cDAI (CDAI) in Nigeria

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

Step 1 – Join Coinbase and get 10$ for free

In the beginning you'll need to buy one of the bigger currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for any other Cryptocurrency. Follow the Link below for registration and to get your first 10$.

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

Your Ethereum or Bitcoin has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is alike. cDAI (CDAI) is available on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Exchange? (Follow this guide)

Make sure you have chosen the exact coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etcetera. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our manual).

Step 3 – Find (CDAI) cDAI

As soon as your deposit has been confirmed, you'll directly have access to your finances and you can start purchasing and trading. To buy (CDAI) cDAI on Binance, you will want to hover over the tab which is called “Exchange” and after that click on “Basic”.

To locate cDAI (CDAI), you'll need to put the cointype (CDAI) into the search-box, which is highlighted in the picture. Be certain of having selected the proper pairing, we've highlighted this also. Click on “CDAI/BTC” to advance.

Step 4 – Buy (CDAI) cDAI

After you have discovered (CDAI) cDAI, you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the image). And now we're going to create our Limit Order.

The field with the “Price” tag will be automatically filled with the recent tariff cDAI (CDAI) was sold for. This can be changed to your preferred price. The “Amount” field is the amount of CDAI you like to buy. The field with the “Total” tag is the aggregated price in Bitcoin that you will pay for the complete quantity of CDAI.

When you're satisfied, make a mouse click on “Buy CDAI”. Your plan will be filled as soon as a Vender sells their CDAI for the price you submitted.

Step 5 – Withdraw cDAI (CDAI)

Unless you're frequently trading, best advise is not to keep crypto coins on an Exchange for an extensive period of time. In order to withdraw your (CDAI) cDAI, go to the “Funds” tab and click on “Withdraw”. (CDAI) cDAI can be safely stored using a Wallet, for example 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 fees/minimums. Also make sure you have filled your precise withdraw address.

When you're satisfied, click “Submit”. You could be requested for phone/email verification ahead of a withdrawal.

Congratulations! You have successfully purchased and safed (CDAI) cDAI in Nigeria.

That's it!

Take offs from Crypto Trader can take anywhere from 1 – 30 minutes (depending on network usage). As soon as you've confirmed your withdrawal using Ethplorer.io or Etherscan.io and the (CDAI) cDAI is safe in your wallet, you're all done.