How to Buy cDAI (CDAI) in West Bank

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

Step 1 – Join Kraken

You will first need to buy units of the top-tier currencies. Exchanges normally accept either Ethereum or Bitcoin in exchange for alternative Coins. Click below for registration and to get your welcome Ethereum or Bitcoin.

Step 2 – Transfer Your Ethereum or Bitcoin to an Crypto Exchange

Your Ethereum or Bitcoin has to be sent over to an Exchange now. Every exchange has a deposit form that is alike. cDAI (CDAI) is available on Binance, so we will use that as an example. Unsure on how to send Coinbase funds to an Crypto Trader? (Just follow this how-to)

Make sure you've chosen the exact coin you wish to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. If you are dealing with a decentralized exchange, like Airswap or DDEX could be opposed (Follow our how-to).

Step 3 – Find (CDAI) cDAI

Once your deposit has been verified, you will directly have access to your funds and you can begin purchasing and trading. To invest in cDAI (CDAI) on Binance, you'll want to go to the tab which is called “Exchange” and after that click on “Basic”.

In order to find cDAI (CDAI), you'll need to put the shortname of the coin (CDAI) into the search-box, which is marked in the picture. Be certain of having selected the proper pairing, we have marked this also. Click on “CDAI/BTC” to go ahead.

Step 4 – Acquisition of (CDAI) cDAI

Once you've located (CDAI) cDAI, you will be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we're going to create our own Limit Order.

The field with the “Price” tag will be filled with the most up-to-date tariff cDAI (CDAI) was sold for. You can change this to your preferred price. The field with the “Amount” tag is the amount of CDAI you wish to purchase. The “Total” field is the whole price in BTC that you'll pay for the complete amount of CDAI.

When you're glad, make a mouse click on “Buy CDAI”. Your order will be filled when a Vender sells their CDAI for the price you introduced.

Step 5 – Withdraw cDAI (CDAI)

Unless you are trading, best advise is not to keep your coins on an Crypto Exchange for an extensive period of time. To withdraw your cDAI (CDAI), go to the tab called “Funds” and click on “Withdraw”. cDAI (CDAI) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find cDAI (CDAI) by using the given drop-down box. Drop in the amount of cDAI (CDAI) you'd like to take off. Don't forget the demonstrated fees/minimums. Also make sure you have entered your right withdraw address.

If you are happy, make a mouse click on “Submit”. You could be requested for phone/email verification ahead of a withdrawal.

Congrats! You have successfully purchased and stored cDAI (CDAI) in West Bank.

That's it!

Take offs from Crypto Exchange can durate anywhere from 1 – 30 minutes (rely on usage of the network). Once you have confirmed your take off using Etherscan.io or Ethplorer.io and the cDAI (CDAI) is safe inside your wallet, you're finished.