How to Buy cDAI (CDAI) in Norfolk Island

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

Step 1 – Signup to Kraken

You'll first need to purchase one of the major currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Follow the Link below to register and receive your first BTC (Bitcoin) or ETH (Ethereum).

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

Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is available on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Crypto Trader? (Follow these easy steps)

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

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. If you're dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Follow these easy steps).

Step 3 – Find cDAI (CDAI)

As soon as your deposit has been verified, you will directly have access to your finances and you can initiate buying and trading. To purchase (CDAI) cDAI on Binance, you will want to go to the “Exchange” tab and after that click on “Basic”.

In order to locate (CDAI) cDAI, you'll need to insert the shortname of the coin (CDAI) into the search-box, which is marked in the picture. Be certain of having selected the proper grouping, we've marked this also. Click on “CDAI/BTC” to proceed.

Step 4 – Acquisition of cDAI (CDAI)

After you've spotted cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). For now we're going to make our own Limit Order.

The “Price” field will be automatically filled with the most latest valuation (CDAI) cDAI was sold for. You can change this to your desired price. The “Amount” field is the amount of CDAI you like to purchase. The “Total” field is the total price in BTC that you will settle for the whole amount of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you're trading, best advise is not to keep crypto on an Exchange for an extended time period. In order to take off your (CDAI) cDAI, hover over the “Funds” tab and click on “Withdraw”. (CDAI) cDAI can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find (CDAI) cDAI by using the given drop-down box. Put into the amount of (CDAI) cDAI you'd like to withdraw. Don't forget the shown minimus/fees. Also make sure you have entered your right withdraw address.

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

Kudos! You've successfully purchased and stored cDAI (CDAI) in Norfolk Island.

That's it!

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