How to Buy Dai (DAI) in Benin

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

Step 1 – Signup to Coinbase and get 10$ for free

You'll first need to purchase one of the top-tier currencies. Exchanges normally accept either Bitcoin (BTC) or Ethereum (ETH) in exchange for alternative Coins. Click the button below to register and to get your welcome 10 Dollar.

Step 2 – Send Your Funds to an Crypto Trader

Your Bitcoin or Ethereum will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is identical. Dai (DAI) is available on Binance, so we will use that as an illustration. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this manual)

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

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, etcetera. In the case you are using a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our manual).

Step 3 – Find Dai (DAI)

Once your deposit has been approved, you'll immediately have access to your assets and you can launch buying and trading. To buy Dai (DAI) on Binance, you will want to hover over the tab which is called “Exchange” and then click on “Basic”.

In order to spot (DAI) Dai, you will need to insert the shortname of the coin (DAI) into the search box, which is highlighted in the graphic. Make sure you have choosen the correct pairing, we've marked this too. Click on “DAI/BTC” to continue.

Step 4 – Acquisition of (DAI) Dai

As soon as you've discovered Dai (DAI), you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we're creating our own Limit Order.

The “Price” field will be filled with the most latest tariff (DAI) Dai was sold for. You can change this to your preferred rate. The “Amount” field is the amount of DAI you wish to purchase. The “Total” field is the aggregated price in Bitcoin that you will pay for the complete volumen of DAI.

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

Step 5 – Withdraw Dai (DAI)

Unless you're trading, best advise is not to keep coins on an Crypto Trader for an extensive period of time. To take off your Dai (DAI), hover over the tab called “Funds” and mouse click on “Withdraw”. Dai (DAI) can be safely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate (DAI) Dai by using the provided drop-down box. Drop in the quantity of (DAI) Dai you would like to take off. Don't forget the presented minimus/fees. Also make sure you have filled your correct withdraw address.

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

Kudos! You've successfully purchased and stored (DAI) Dai in Benin.

That's it!

Withdrawals from Exchange can durate anywhere from 1 – 30 minutes (depending on network usage). As soon as you've confirmed your withdrawal with Etherscan.io or Ethplorer.io and the Dai (DAI) is safe inside your wallet, you are all done.