How to Buy cDAI (CDAI) in Nigeria

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

Step 1 – Join Kraken

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

Step 2 – Send Your Funds to an Crypto Trader

Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Trader now. All exchanges have a deposit form that is identical. cDAI (CDAI) is accessible on Binance, so we're going to use that as an illustration. Not sure on how to send funds from Coinbase to an Exchange? (Just follow these easy steps)

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

Bitcoin must be sent to a BTC deposit address, ETH to an Ethereum deposit address, etcetera. If you are working with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our manual).

Step 3 – Find (CDAI) cDAI

Once your deposit has been affirmed, you will directly have access to your finances and you can start buying and trading. To invest in (CDAI) cDAI on Binance, you'll want to hover over the “Exchange” tab and after that click on “Basic”.

To locate cDAI (CDAI), you'll need to insert the cointype (CDAI) into the search box, which is marked in the image. Be certain of having choosen the correct pairing, we have highlighted this too. Click on “CDAI/BTC” to go ahead.

Step 4 – Buying (CDAI) cDAI

After you have located (CDAI) cDAI, you'll be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the image). And now we're going to make our own Limit Order.

The field with the “Price” tag will be filled with the latest tariff (CDAI) cDAI was sold for. This can be changed to your preferred price. The “Amount” field is the volumen of CDAI you wish to purchase. The “Total” field is the whole price in Bitcoin that you will settle for the complete amount of CDAI.

When you're glad, make a mouse click on “Buy CDAI”. Your order will be filled when a Vendor trades their CDAI for the price you offered.

Step 5 – Withdraw (CDAI) cDAI

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

Find (CDAI) cDAI by using the provided drop-down box. Put into the volumen of (CDAI) cDAI you would like to take off. Take into account the presented fees/minimums. Also make sure you have entered your right withdraw address.

If you are glad, make a mouse click on “Submit”. You may be asked for phone/email verification before a take off.

Congrats! You have successfully bought and stored cDAI (CDAI) in Nigeria.

That's it!

Take offs from Cryptocurrency Exchange can take between 1 – 30 minutes (depending on network usage). As soon as you have proved your withdrawal with Etherscan.io or Ethplorer.io and the (CDAI) cDAI is safe inside your wallet, you're finished.