How to Buy cDAI (CDAI) in Somalia

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

Step 1 – Signup to CEX.io

You'll first need to buy one of the top-tier coins. Exchanges commonly accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click the button below to register and getting your first BTC (Bitcoin) or ETH (Ethereum).

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

Your Bitcoin or Ethereum will need to be sent over to an Exchange now. Every exchange has a deposit form that is similar. cDAI (CDAI) is accessible on Binance, so we're going to use that as an example. Not sure on how to send Coinbase funds to an Crypto Exchange? (Just follow this guide)

Make sure you have chosen the correct coin you want to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etcetera. If you're dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our how-to).

Step 3 – Find (CDAI) cDAI

As soon as your deposit has been affirmed, you will instantly have access to your assets and you can start buying and trading. To buy (CDAI) cDAI on Binance, you'll want to hover over the tab which is called “Exchange” and after that click on “Basic”.

To spot (CDAI) cDAI, you'll need to put the cointype (CDAI) into the search-box, which is highlighted in the picture. Make sure you have selected the correct grouping, we have highlighted this too. Click on “CDAI/BTC” to advance.

Step 4 – Purchasing cDAI (CDAI)

As soon as you've spotted cDAI (CDAI), you will be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the picture). Next we are going to make our own Limit Order.

The field with the “Price” tag will be automatically filled with the most up-to-date valuation (CDAI) cDAI was sold for. You can change this to your desired price. The field with the “Amount” tag is the amount of CDAI you wish to buy. The field with the “Total” tag is the whole price in Bitcoin that you will settle for the complete volumen of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you're frequently trading, never keep your crypto coins on an Crypto Exchange for an extended time frame. 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)

Find cDAI (CDAI) by using the given drop-down box. Enter the quantity of (CDAI) cDAI you'd wish to take off. Don't forget the shown fees/minimums. Also make sure you have entered your right withdraw address.

If you are happy, click “Submit”. You could be asked for verfication via email/phone ahead of a withdrawal.

Congratulations! You have successfully purchased and safed (CDAI) cDAI in Somalia.

That's it!

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