How to Buy cDAI (CDAI) in Palau

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

Step 1 – Signup to CEX.io

You will first need to buy units 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 getting your first Ethereum (ETH) or Bitcoin (BTC).

Step 2 – Send Your Bitcoin or Ethereum to an Exchange

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is accessible on Binance, so we will use that as an illustration. Not sure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this how-to)

Make sure you've chosen the exact coin you would like to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. If you're dealing with a decentralized exchange, like Airswap or DDEX could be different (Follow our manual).

Step 3 – Find cDAI (CDAI)

As soon as your deposit has been verified, you'll instantly have access to your funds and you can commence buying and trading. To buy (CDAI) cDAI on Binance, you'll want to hover over the “Exchange” tab and after that mouse click on “Basic”.

To discover cDAI (CDAI), you will need to put the cointype (CDAI) into the search-box, which is marked in the image. Be certain of having choosen the proper pairing, we've highlighted this too. Click on “CDAI/BTC” to proceed.

Step 4 – Purchase cDAI (CDAI)

After you've located (CDAI) cDAI, you will be presented with a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the image). For now we're making our own Limit Order.

The “Price” field will be filled automatically with the most up-to-date rate cDAI (CDAI) was traded for. This can be changed to your favoured price. The field with the “Amount” tag is the amount of CDAI you wish to purchase. The “Total” field is the total price in Bitcoin that you will settle for the whole amount of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you're trading, best advise is not to keep crypto on an Crypto Trader for an longer time frame. To take off your (CDAI) cDAI, hover over the “Funds” tab 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 given drop-down box. Put into the volumen of cDAI (CDAI) you would like to take off. Take into account the shown fees/minimums. Also make sure you have entered your precise withdraw address.

If you are glad, click on “Submit”. You may be asked for phone/email verification ahead of a withdrawal.

Congrats! You have successfully purchased and safed (CDAI) cDAI in Palau.

That's it!

Take offs from Exchange can take anywhere from 1 – 30 minutes (depending on usage of the network). Once you've confirmed your withdrawal with Ethplorer.io or Etherscan.io and the cDAI (CDAI) is stored in your wallet, you're done.