How to Buy Dai (DAI) in Christmas Island

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

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

In the beginning you'll need to purchase one of the major currencies. Exchanges commonly accept either Bitcoin or Ethereum in exchange for alternative Coins. Click below for registration and getting your first 10 Dollar.

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

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

Make sure you've selected the correct coin you want to deposit.

BTC must be sent to a Bitcoin deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are dealing with a decentralized exchange, like Airswap or DDEX could be divergent (Follow our how-to).

Step 3 – Find Dai (DAI)

As soon as your deposit has been affirmed, you'll directly have access to your assets and you can start purchasing and trading. To buy (DAI) Dai on Binance, you'll want to go to the tab which is called “Exchange” and then mouse click on “Basic”.

To spot Dai (DAI), you will need to put the short name of the asset (DAI) into the search box, which is marked in the image. Be certain of having choosen the proper grouping, we have highlighted this also. Click on “DAI/BTC” to go on.

Step 4 – Purchase (DAI) Dai

As soon as you have spotted Dai (DAI), you will be given a Chart with Prices (in the Center of the image) and some Order Books (Leftside of the image). For now we are making our Limit Order.

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

If you are satisfied, 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 frequently trading, best advise is not to keep crypto on an Crypto Exchange for an longer time period. To take off your (DAI) Dai, hover over the tab called “Funds” and mouse click on “Withdraw”. (DAI) Dai can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

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

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

Congratulations! You've successfully bought and safed Dai (DAI) in Christmas Island.

That's it!

Withdrawals from Cryptocurrency Exchange can take between 1 – 30 minutes (rely on usage of the network). As soon as you've confirmed your take off with Etherscan.io or Ethplorer.io and the (DAI) Dai is safe within your wallet, you're finished.