How to Buy cDAI (CDAI) in Papua New Guinea

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

Step 1 – Signup to Kraken

In the beginning you'll need to buy one of the bigger currencies. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Follow the Link below to register and to get your welcome BTC (Bitcoin) or ETH (Ethereum).

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

Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. cDAI (CDAI) is available on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Crypto Exchange? (Follow these easy steps)

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

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, et cetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be opposed (Follow our manual).

Step 3 – Locate (CDAI) cDAI

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

In order to find (CDAI) cDAI, you'll need to put the short name of the asset (CDAI) into the search box, which is marked in the image. Be certain of having selected the correct pairing, we've marked this too. Click on “CDAI/BTC” to proceed.

Step 4 – Purchasing (CDAI) cDAI

As soon as 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). Next we are creating our own Limit Order.

The field with the “Price” tag will be automatically filled with the up-to-date price cDAI (CDAI) was sold for. This can be changed to your desired price. The field with the “Amount” tag is the quantity of CDAI you wish to buy. The “Total” field is the whole price in Bitcoin that you will pay for the whole amount of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you're frequently trading, best advise is not to keep your coins on an Exchange for an longer time period. In order to withdraw your (CDAI) cDAI, go to the “Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be stored safely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate cDAI (CDAI) by using the provided drop-down box. Enter the amount of cDAI (CDAI) you would like to take off. Don't forget the shown minimus/fees. Also make sure you have entered your right withdraw address.

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

Kudos! You have successfully purchased and stored (CDAI) cDAI in Papua New Guinea.

That's it!

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