How to Buy cDAI (CDAI) in Virgin Islands

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

Step 1 – Signup to Kraken

In the beginning you'll need to purchase units of the major currencies. Exchanges commonly accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Click below to register and receive your welcome Ethereum or Bitcoin.

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

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. cDAI (CDAI) is accessible on Binance, so we will use that as an illustration. Unsure on how to send Coinbase funds to an Crypto Exchange? (Just follow this how-to)

Make sure you've selected the precise coin you would like to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, et cetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our guide).

Step 3 – Find (CDAI) cDAI

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

To spot cDAI (CDAI), you will need to put the cointype (CDAI) into the search box, which is highlighted in the image. Be certain of having choosen the right pairing, we've highlighted this too. Click on “CDAI/BTC” to go on.

Step 4 – Purchasing (CDAI) cDAI

After you have found (CDAI) cDAI, you will be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the image). And now we are going to make our own Limit Order.

The “Price” field will be filled automatically with the most latest tariff cDAI (CDAI) was traded for. You can change this to your favoured rate. The “Amount” field is the amount of CDAI you like to purchase. The field with the “Total” tag is the aggregated price in BTC that you will pay for the whole amount of CDAI.

If you are satisfied, make a mouse click on “Buy CDAI”. Your order will be filled as soon as a Vender trades their CDAI for the price you gave.

Step 5 – Withdraw cDAI (CDAI)

Unless you are regularly trading, never keep your crypto coins on an Crypto Trader for an longer time period. In order to withdraw your (CDAI) cDAI, hover over the “Funds” tab 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 amount of cDAI (CDAI) you would wish to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have filled your precise withdraw address.

If you are happy, click “Submit”. You may be requested for verfication via phone/email before a take off.

Kudos! You have successfully bought and stored cDAI (CDAI) in Virgin Islands.

That's it!

Withdrawals from Crypto Exchange can take anywhere from 1 – 30 minutes (rely on usage of the network). As soon as you have confirmed your take off with Ethplorer.io or Etherscan.io and the (CDAI) cDAI is safe within your wallet, you are finished.