How to Buy Dai (DAI) in Bermuda

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

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

In the beginning you'll need to buy one of the bigger coins. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Follow the Link below to register and receive your first 10$.

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

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

Make sure you have chosen the right coin you want to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. In the case you're dealing with a decentralized exchange, such as Airswap or DDEX could be unlike (Follow our guide).

Step 3 – Locate (DAI) Dai

Once your deposit has been affirmed, you'll immediately have access to your finances and you can begin buying and trading. To invest in Dai (DAI) on Binance, you will want to go to the tab which is called “Exchange” and click on “Basic”.

To locate (DAI) Dai, you will need to insert the cointype (DAI) into the search box, which is highlighted in the graphic. Be certain of having choosen the proper pairing, we have marked this too. Click on “DAI/BTC” to progress.

Step 4 – Buying (DAI) Dai

Once you have located Dai (DAI), you will be given a Chart with Prices (in the Center of the image) and some Order Books (on the Left of the picture). And now we're going to create our Limit Order.

The “Price” field will be automatically filled with the recent tariff (DAI) Dai was traded for. This can be changed to your desired rate. The “Amount” field is the quantity of DAI you want to purchase. The field with the “Total” tag is the total price in Bitcoin that you will settle for the whole quantity of DAI.

If you are happy, click on “Buy DAI”. Your plan will be filled as soon as a Vender sells their DAI for the price you introduced.

Step 5 – Withdraw (DAI) Dai

Unless you are regularly trading, best advise is not to keep your coins on an Cryptocurrency Exchange for an extended time frame. In order to take off your Dai (DAI), hover over the tab called “Funds” and mouse click on “Withdraw”. (DAI) Dai can be securely stored using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Find (DAI) Dai by using the given drop-down box. Drop in the amount of (DAI) Dai you would wish to withdraw. Don't forget the displayed minimus/fees. Also make sure you have entered your correct withdraw address.

If you're glad, click on “Submit”. You may be requested for email/phone verification before a take off.

Congrats! You have successfully bought and safed (DAI) Dai in Bermuda.

That's it!

Withdrawals from Exchange can take between 1 – 30 minutes (rely on usage of the network). Once you have confirmed your withdrawal with Ethplorer.io or Etherscan.io and the (DAI) Dai is safe within your wallet, you are all done.