How to Buy cDAI (CDAI) in Senegal

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

Step 1 – Signup to CEX.io

You will first need to purchase one of the bigger currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click below for registration and receive your welcome Bitcoin (BTC) or Ethereum (ETH).

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

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. cDAI (CDAI) is accessible on Binance, so we will use that as an sample. Unsure on how to send funds from Coinbase to an Crypto Exchange? (Follow this guide)

Make sure you have selected the precise coin you want to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so on. If you are dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our guide).

Step 3 – Find cDAI (CDAI)

As soon as your deposit has been approved, you will immediately have access to your finances and you can launch buying and trading. To invest in cDAI (CDAI) on Binance, you'll want to go to the tab which is called “Exchange” and after that mouse click on “Basic”.

To locate (CDAI) cDAI, you will need to insert the short name of the asset (CDAI) into the search-box, which is highlighted in the graphic. Make sure you have choosen the proper pairing, we've highlighted this too. Click on “CDAI/BTC” to advance.

Step 4 – Buying (CDAI) cDAI

After you have discovered (CDAI) cDAI, you'll be given a Price Chart (in the Center of the image) and a few Order Books (on the Left of the image). Next we are creating our own Limit Order.

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

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

Step 5 – Withdraw (CDAI) cDAI

Unless you're frequently trading, never keep your crypto on an Exchange for an extensive time frame. To take off your cDAI (CDAI), hover over the “Funds” tab and click on “Withdraw”. cDAI (CDAI) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (CDAI) cDAI by using the given drop-down box. Enter the volumen of cDAI (CDAI) you'd like to take off. Take into account the displayed fees/minimums. Also make sure you have filled your right withdraw address.

If you're satisfied, make a mouse click on “Submit”. You may be requested for verfication via phone/email ahead of a withdrawal.

Congrats! You have successfully bought and safed cDAI (CDAI) in Senegal.

That's it!

Take offs from Exchange can durate anywhere from 1 – 30 minutes (rely on network usage). As soon as you have confirmed your take off using Etherscan.io or Ethplorer.io and the (CDAI) cDAI is stored inside your wallet, you are finished.