How to Buy Dai (DAI) in Armenia

A Step-by-Step-Guide on how to buy Dai (DAI) in Armenia

Step 1 – Join Coinbase – Get Free $10

You'll first need to buy units of the bigger currencies. Exchanges usually accept either Ethereum or Bitcoin in exchange for Altcoins. Click the button below to register and receive your first 10 Dollar.

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

Your Ethereum or Bitcoin has to be sent over to an Crypto Exchange now. Every exchange has a deposit form that is similar. Dai (DAI) is obtainable on Binance, so we're going to use that as an illustration. Unsure on how to send Coinbase funds to an 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 working with a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).

Step 3 – Find (DAI) Dai

As soon as your deposit has been confirmed, you will now have access to your finances and you can commence buying and trading. To buy Dai (DAI) on Binance, you'll want to hover over the tab which is called “Exchange” and then click on “Basic”.

In order to find Dai (DAI), you will need to insert the cointype (DAI) into the search-box, which is highlighted in the graphic. Be certain of having selected the correct pairing, we have highlighted this also. Click on “DAI/BTC” to progress.

Step 4 – Acquisition of Dai (DAI)

As soon as you've located (DAI) Dai, you'll be given a Price Chart (in the Center of the picture) and some Order Books (Leftside of the image). For now we are going to make our own Limit Order.

The “Price” field will be filled with the recent price Dai (DAI) was traded for. This can be changed to your preferred price. The field with the “Amount” tag is the quantity of DAI you want to buy. The field with the “Total” tag is the total price in Bitcoin that you'll settle for the whole amount of DAI.

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

Step 5 – Withdraw (DAI) Dai

Unless you're regularly trading, never keep your coins on an Cryptocurrency Exchange for an longer time frame. To take off your Dai (DAI), go to the “Funds” tab and mouse click on “Withdraw”. (DAI) Dai can be safely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find Dai (DAI) by using the given drop-down box. Enter the amount of Dai (DAI) you would wish to withdraw. Take into account the displayed minimus/fees. Also make sure you have entered your right withdraw address.

When you are happy, click “Submit”. You could be asked for verfication via email/phone ahead of a withdrawal.

Congratulations! You have successfully purchased and stored (DAI) Dai in Armenia.

That's it!

Take offs from Exchange can durate anywhere from 1 – 30 minutes (rely on usage of the network). Once you have proved your withdrawal using Etherscan.io or Ethplorer.io and the Dai (DAI) is safe within your wallet, you're finished.