A Step-by-Step-Guide on how to buy Dai (DAI) in India
Step 1 – Signup to Coinbase – Get Free $10 In the beginning you'll need to buy units of the major currencies. Exchanges normally accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for any other Cryptocurrency. Follow the Link below to register and getting your first 10$.
Step 2 – Transfer Your ETH (Ethereum) or BTC (Bitcoin) to an Cryptocurrency Exchange Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. Dai (DAI) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send funds from Coinbase to an Exchange? (Follow this manual) Make sure you have chosen the precise coin you would like to deposit. BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so on. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be divergent (Just follow our how-to).
Step 3 – Find Dai (DAI) Once your deposit has been verified, you'll instantly have access to your finances and you can commence invest and trading. To invest in (DAI) Dai on Binance, you will want to hover over the tab which is called “Exchange” and mouse click on “Basic”. In order to locate (DAI) Dai, you will need to put the cointype (DAI) into the search-box, which is highlighted in the picture. Make sure you have choosen the proper grouping, we've marked this also. Click on “DAI/BTC” to go on.
Step 4 – Buying (DAI) Dai As soon as you have discovered Dai (DAI), you'll be given a Price Chart (in the Center of the image) and some Order Books (Leftside of the picture). Next we are making our Limit Order. The “Price” field will be automatically filled with the most up-to-date valuation (DAI) Dai was sold for. This can be changed to your preferred rate. The “Amount” field is the amount of DAI you want to purchase. The “Total” field is the aggregated price in Bitcoin that you'll pay for the complete amount of DAI. If you're satisfied, make a mouse click on “Buy DAI”. Your order will be filled when a Seller trades their DAI for the price you submitted.
Step 5 – Withdraw (DAI) Dai Unless you are regularly trading, you should never keepyour coins on an Exchange for an extended time period. In order to take off your Dai (DAI), hover over the “Funds” tab and click on “Withdraw”. Dai (DAI) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find Dai (DAI) by using the given drop-down box. Drop in the volumen of Dai (DAI) you would like to take off. Take into account the displayed fees/minimums. Also make sure you have filled your precise withdraw address. If you are glad, make a mouse click on “Submit”. You could be requested for email/phone verification before a take off.