How to Buy cDAI (CDAI) in Svalbard

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

Step 1 – Join Kraken

You'll first need to purchase units of the top-tier currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below for registration and receive your welcome Ethereum or Bitcoin.

Step 2 – Transmit Your Bitcoin or Ethereum to an Exchange

Your Ethereum (ETH) or Bitcoin (BTC) will need to be sent over to an Exchange now. All exchanges have a deposit form that is alike. cDAI (CDAI) is available on Binance, so we're going to use that as an example. Not sure on how to send funds from Coinbase to an Exchange? (Just follow these easy steps)

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

Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so on. If you are using a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow these easy steps).

Step 3 – Find cDAI (CDAI)

Once your deposit has been verified, you will now have access to your finances and you can launch purchasing and trading. To buy (CDAI) cDAI on Binance, you'll want to hover over the “Exchange” tab and mouse click on “Basic”.

To discover cDAI (CDAI), you'll need to insert the short name of the asset (CDAI) into the search box, which is marked in the graphic. Be certain of having selected the proper pairing, we have highlighted this also. Click on “CDAI/BTC” to go ahead.

Step 4 – Buy cDAI (CDAI)

As soon as you've discovered (CDAI) cDAI, you'll be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside 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 recent tariff cDAI (CDAI) was traded for. You can change this to your favoured rate. The field with the “Amount” tag is the quantity of CDAI you wish to purchase. The “Total” field is the aggregated price in Bitcoin that you will pay for the whole amount of CDAI.

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

Step 5 – Withdraw cDAI (CDAI)

Unless you are frequently trading, never keep your coins on an Exchange for an extended time period. In order to withdraw your (CDAI) cDAI, go to the “Funds” tab and mouse click on “Withdraw”. cDAI (CDAI) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find (CDAI) cDAI by using the provided drop-down box. Put into the quantity of cDAI (CDAI) you would like to take off. Don't forget the displayed minimus/fees. Also make sure you have entered your correct withdraw address.

If you are glad, click on “Submit”. You could be requested for verfication via phone/email ahead of a take off.

Congrats! You've successfully bought and safed cDAI (CDAI) in Svalbard.

That's it!

Withdrawals from Crypto Trader can take anywhere from 1 – 30 minutes (depending on usage of the network). Once you've proved your take off with Ethplorer.io or Etherscan.io and the (CDAI) cDAI is stored in your wallet, you're finished.