A Step-by-Step-Guide on how to buy cDAI (CDAI) in Switzerland
Step 1 – Join Kraken You'll first need to buy units of the bigger coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Click below for registration and getting your first Bitcoin (BTC) or Ethereum (ETH).
Step 2 – Transfer Your Funds to an Exchange Your Bitcoin or Ethereum has to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. cDAI (CDAI) is obtainable on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Exchange? (Just follow this guide) Make sure you've selected the exact coin you wish to deposit. BTC must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etc. In the case you are dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our how-to).
Step 3 – Locate cDAI (CDAI) As soon as your deposit has been verified, you'll directly have access to your finances and you can start invest and trading. To buy cDAI (CDAI) on Binance, you'll want to go to the tab which is called “Exchange” and then click on “Basic”. To locate cDAI (CDAI), you'll need to insert the shortname of the coin (CDAI) into the search-box, which is marked in the picture. Make sure you have choosen the right pairing, we've highlighted this too. Click on “CDAI/BTC” to progress.
Step 4 – Buying (CDAI) cDAI After you have spotted cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the image). For now we're going to create our own Limit Order. The field with the “Price” tag will be filled automatically with the latest price (CDAI) cDAI was traded for. This can be changed to your favoured price. The field with the “Amount” tag is the volumen of CDAI you wish to purchase. The field with the “Total” tag is the aggregated price in BTC that you'll pay for the whole quantity of CDAI. When you are happy, click on “Buy CDAI”. Your plan will be filled as soon as a Seller trades their CDAI for the price you introduced.
Step 5 – Withdraw (CDAI) cDAI Unless you're frequently trading, best advise is not to keep crypto coins on an Crypto Trader for an extended time period. In order to take off your (CDAI) cDAI, go to 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 provided drop-down box. Enter the quantity of (CDAI) cDAI you'd like to withdraw. Don't forget the presented minimus/fees. Also make sure you have filled your precise withdraw address. When you're glad, click on “Submit”. You may be asked for phone/email verification before a withdrawal.