A Step-by-Step-Guide on how to buy cDAI (CDAI) in South Africa
Step 1 – Signup to Kraken You will first need to purchase units of the bigger currencies. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click the button below for registration and receive your first Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange Your Ethereum (ETH) or Bitcoin (BTC) has 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 will use that as an sample. Unsure on how to send Coinbase funds to an Crypto Exchange? (Just follow these easy steps) Make sure you have chosen the exact coin you want to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so forth. If you're dealing with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our manual).
Step 3 – Locate cDAI (CDAI) Once your deposit has been confirmed, you will instantly have access to your funds and you can launch invest and trading. To invest in cDAI (CDAI) on Binance, you'll want to go to the tab which is called “Exchange” and then click on “Basic”. In order to discover cDAI (CDAI), you'll need to insert the cointype (CDAI) into the search box, which is marked in the image. Make sure you have selected the right grouping, we've highlighted this too. Click on “CDAI/BTC” to progress.
Step 4 – Buying cDAI (CDAI) After you've located (CDAI) cDAI, you'll 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 are going to make our own Limit Order. The field with the “Price” tag will be filled automatically with the most recent rate cDAI (CDAI) was sold for. This can be changed to your desired price. The “Amount” field is the amount of CDAI you like to buy. The “Total” field is the aggregated price in Bitcoin that you'll settle for the whole quantity of CDAI. If you are happy, click on “Buy CDAI”. Your order will be filled as soon as a Vender sells their CDAI for the price you gave.
Step 5 – Withdraw cDAI (CDAI) Unless you are frequently trading, best advise is not to keep coins on an Crypto Trader for an extensive period of time. In order to withdraw your cDAI (CDAI), hover over the tab called “Funds” and click on “Withdraw”. (CDAI) cDAI can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide) Locate cDAI (CDAI) by using the given drop-down box. Put into the amount of (CDAI) cDAI you'd like to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have entered your correct withdraw address. When you're glad, click “Submit”. You may be asked for email/phone verification ahead of a take off.