How to Buy Dai (DAI) in Iceland

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

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

You will first need to buy one of the top-tier currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for any other Cryptocurrency. Click the button below for registration and to get your welcome 10 Dollar.

Step 2 – Transfer Your Ethereum (ETH) or Bitcoin (BTC) to an Crypto Trader

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Exchange now. Every exchange has a deposit form that is similar. Dai (DAI) is accessible on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow this how-to)

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

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so forth. In the case you are working with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow these easy steps).

Step 3 – Find (DAI) Dai

Once your deposit has been confirmed, you will instantly have access to your assets and you can commence purchasing and trading. To purchase Dai (DAI) on Binance, you'll want to go to the “Exchange” tab and after that mouse click on “Basic”.

To discover Dai (DAI), you'll need to put the short name of the asset (DAI) into the search box, which is highlighted in the image. Be certain of having selected the proper pairing, we've marked this also. Click on “DAI/BTC” to go ahead.

Step 4 – Buy Dai (DAI)

After you have located Dai (DAI), you will be given a Price Chart (in the Center of the picture) and some Order Books (on the Left of the image). Next we are going to make our own Limit Order.

The field with the “Price” tag will be filled automatically with the recent tariff Dai (DAI) was sold for. You can change this to your preferred rate. The “Amount” field is the amount of DAI you like to buy. The “Total” field is the aggregated price in Bitcoin that you'll pay for the whole volumen of DAI.

If you're satisfied, make a mouse click on “Buy DAI”. Your order will be filled as soon as a Seller trades their DAI for the price you submitted.

Step 5 – Withdraw Dai (DAI)

Unless you are regularly trading, never keep your coins on an Crypto Exchange for an extensive period of time. In order to withdraw your (DAI) Dai, hover over the “Funds” tab and mouse click on “Withdraw”. (DAI) Dai can be stored securely using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Locate Dai (DAI) by using the provided drop-down box. Enter the volumen of Dai (DAI) you would wish to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have entered your correct withdraw address.

If you are happy, click on “Submit”. You could be requested for verfication via phone/email before a withdrawal.

Kudos! You've successfully purchased and safed Dai (DAI) in Iceland.

That's it!

Withdrawals from Crypto Trader can durate between 1 – 30 minutes (rely on usage of the network). As soon as you have proved your withdrawal using Ethplorer.io or Etherscan.io and the (DAI) Dai is stored in your wallet, you're done.