How to Buy cDAI (CDAI) in Uruguay

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

Step 1 – Signup to Kraken

You'll first need to buy units of the bigger coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for alternative Coins. Click the button below to register and receive your welcome Ethereum or Bitcoin.

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

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is available on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this manual)

Make sure you've selected the exact coin you want to deposit.

BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. If you're using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Find cDAI (CDAI)

Once your deposit has been confirmed, you'll now have access to your funds and you can launch buying and trading. To purchase cDAI (CDAI) on Binance, you'll want to hover over the tab which is called “Exchange” and mouse click on “Basic”.

In order to find (CDAI) cDAI, you'll need to insert the short name of the asset (CDAI) into the search box, which is highlighted in the image. Make sure you have choosen the proper grouping, we have marked this too. Click on “CDAI/BTC” to advance.

Step 4 – Buy (CDAI) cDAI

Once you've spotted cDAI (CDAI), you will be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). And now we're creating our Limit Order.

The “Price” field will be filled automatically with the latest rate 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 want to purchase. The field with the “Total” tag is the total price in Bitcoin that you will settle for the whole volumen of CDAI.

When you're glad, make a mouse click on “Buy CDAI”. Your plan will be filled as soon as a Vender trades their CDAI for the price you introduced.

Step 5 – Withdraw (CDAI) cDAI

Unless you're regularly trading, you should never keepyour crypto on an Cryptocurrency Exchange for an longer period of time. To take off your (CDAI) cDAI, go to the tab called “Funds” and mouse click on “Withdraw”. cDAI (CDAI) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate cDAI (CDAI) by using the provided drop-down box. Drop in the amount of (CDAI) cDAI you would like to withdraw. Don't forget the displayed minimus/fees. Also make sure you have filled your right withdraw address.

When you're satisfied, click on “Submit”. You could be requested for email/phone verification ahead of a take off.

Kudos! You've successfully purchased and stored cDAI (CDAI) in Uruguay.

That's it!

Withdrawals from Crypto Exchange can durate anywhere from 1 – 30 minutes (depending on usage of the network). Once you have proved your withdrawal with Ethplorer.io or Etherscan.io and the cDAI (CDAI) is safe in your wallet, you are all done.