How to Buy cDAI (CDAI) in Sri Lanka

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

Step 1 – Signup to Kraken

In the beginning you'll need to purchase units of the bigger coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click the button below to register and to get your first Bitcoin or Ethereum.

Step 2 – Send Your Ethereum or Bitcoin to an Exchange

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

Make sure you have chosen the correct coin you would like to deposit.

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, et cetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be divergent (Just follow our how-to).

Step 3 – Locate (CDAI) cDAI

As soon as your deposit has been confirmed, you will instantly have access to your funds and you can launch buying and trading. To invest in cDAI (CDAI) on Binance, you'll want to hover over the “Exchange” tab and then mouse click on “Basic”.

In order to locate (CDAI) cDAI, you'll need to insert the short name of the asset (CDAI) into the search-box, which is marked in the image. Be certain of having choosen the correct grouping, we have highlighted this also. Click on “CDAI/BTC” to advance.

Step 4 – Acquisition of cDAI (CDAI)

After you've located (CDAI) cDAI, you'll be given a Price Chart (in the Center of the picture) and some Order Books (Leftside of the image). For now we're going to make our Limit Order.

The field with the “Price” tag will be filled with the up-to-date rate cDAI (CDAI) was sold for. This can be changed to your preferred rate. The “Amount” field is the volumen of CDAI you like to purchase. The field with the “Total” tag is the aggregated price in Bitcoin that you will pay for the whole volumen of CDAI.

If you're satisfied, click on “Buy CDAI”. Your plan will be filled as soon as a Vendor sells their CDAI for the price you gave.

Step 5 – Withdraw (CDAI) cDAI

Unless you're frequently trading, best advise is not to keep your coins on an Exchange for an extensive time frame. To take off your (CDAI) cDAI, go to the tab called “Funds” and click on “Withdraw”. cDAI (CDAI) can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

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

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

Kudos! You've successfully bought and stored (CDAI) cDAI in Sri Lanka.

That's it!

Withdrawals from Crypto Trader can take between 1 – 30 minutes (rely on usage of the network). Once you've confirmed your withdrawal with Etherscan.io or Ethplorer.io and the (CDAI) cDAI is stored within your wallet, you're done.