How to Buy cDAI (CDAI) in Tanzania

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

Step 1 – Join CEX.io

In the beginning you'll need to purchase one of the bigger currencies. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click the button below for registration and to get your welcome Ethereum or Bitcoin.

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

Your Ethereum (ETH) or Bitcoin (BTC) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. 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? (Follow these easy steps)

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

BTC must be sent to a BTC deposit address, ETH to an ETH deposit address, and so forth. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be different (Follow our how-to).

Step 3 – Locate (CDAI) cDAI

Once your deposit has been approved, you'll directly have access to your finances and you can commence invest and trading. To buy cDAI (CDAI) on Binance, you will want to go to the “Exchange” tab and click on “Basic”.

To find cDAI (CDAI), you will need to insert the short name of the asset (CDAI) into the search-box, which is highlighted in the image. Be certain of having selected the proper grouping, we have marked this too. Click on “CDAI/BTC” to advance.

Step 4 – Purchase cDAI (CDAI)

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

The “Price” field will be filled with the most up-to-date rate cDAI (CDAI) was sold for. This can be changed to your desired rate. The field with the “Amount” tag is the amount of CDAI you like to buy. The “Total” field is the aggregated price in BTC that you'll settle for the complete quantity of CDAI.

If you are happy, click on “Buy CDAI”. Your order will be filled as soon as a Seller sells their CDAI for the price you submitted.

Step 5 – Withdraw cDAI (CDAI)

Unless you're frequently trading, best advise is not to keep your crypto coins on an Crypto Exchange for an longer time period. In order to take off your cDAI (CDAI), go to the tab called “Funds” and mouse click on “Withdraw”. cDAI (CDAI) can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (CDAI) cDAI by using the provided drop-down box. Put into the quantity of cDAI (CDAI) you would wish to take off. Don't forget the presented minimus/fees. Also make sure you have filled your right withdraw address.

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

Congrats! You have successfully purchased and safed (CDAI) cDAI in Tanzania.

That's it!

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