A Step-by-Step-Guide on how to buy Dai (DAI) in Cyprus
Step 1 – Signup to Coinbase and get 10$ for free You'll first need to buy one of the top-tier coins. Exchanges usually accept either Ethereum or Bitcoin in exchange for any other Cryptocurrency. Follow the Link below for registration and receive your first $10.
Step 2 – Send Your Funds to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Dai (DAI) is obtainable on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this how-to) Make sure you've selected the exact coin you wish to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etcetera. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be different (Just follow our guide).
Step 3 – Locate Dai (DAI) Once your deposit has been confirmed, you will instantly have access to your finances and you can initiate purchasing and trading. To buy (DAI) Dai on Binance, you will want to go to the “Exchange” tab and after that click on “Basic”. To locate Dai (DAI), you'll need to insert the cointype (DAI) into the search-box, which is marked in the picture. Be certain of having choosen the proper pairing, we've marked this also. Click on “DAI/BTC” to progress.
Step 4 – Purchase Dai (DAI) After you've found Dai (DAI), you will be presented with a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). Next we're creating our own Limit Order. The field with the “Price” tag will be automatically filled with the up-to-date price (DAI) Dai was traded for. This can be changed to your desired price. The “Amount” field is the amount of DAI you like to buy. The field with the “Total” tag is the total price in BTC that you'll pay for the complete volumen of DAI. When you are satisfied, make a mouse click on “Buy DAI”. Your plan will be filled as soon as a Vendor trades their DAI for the price you gave.
Step 5 – Withdraw Dai (DAI) Unless you're regularly trading, best advise is not to keep coins on an Cryptocurrency Exchange for an extensive period of time. To withdraw your Dai (DAI), hover over the tab called “Funds” and click on “Withdraw”. (DAI) Dai can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate (DAI) Dai by using the provided drop-down box. Put into the quantity of Dai (DAI) you'd like to withdraw. Don't forget the demonstrated fees/minimums. Also make sure you have filled your right withdraw address. If you're happy, make a mouse click on “Submit”. You may be requested for verfication via phone/email before a withdrawal.