How to Buy Dai (DAI) in Jamaica

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

Step 1 – Signup to Coinbase – Get Free $10

You'll first need to purchase units of the major coins. Exchanges normally accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for alternative Coins. Follow the Link below to register and receive your first 10$.

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

Your ETH (Ethereum) or BTC (Bitcoin) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is identical. Dai (DAI) is accessible on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Cryptocurrency Exchange? (Follow this guide)

Make sure you've selected the precise coin you would like to deposit.

Bitcoin must be sent to a BTC deposit address, ETH to an ETH deposit address, and so on. In the case you're working with a decentralized exchange, like Airswap or DDEX could be different (Follow these easy steps).

Step 3 – Find Dai (DAI)

Once your deposit has been affirmed, you will immediately have access to your assets and you can launch buying 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”.

In order to spot Dai (DAI), you'll need to insert the shortname of the coin (DAI) into the search box, which is marked in the picture. Be certain of having selected the proper grouping, we've marked this too. Click on “DAI/BTC” to continue.

Step 4 – Purchasing Dai (DAI)

As soon as you have located Dai (DAI), you will be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (on the Left of the picture). And now we are creating our Limit Order.

The “Price” field will be filled with the most latest price (DAI) Dai was sold for. You can change this to your favoured rate. 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 whole quantity of DAI.

When you are glad, click on “Buy DAI”. Your plan will be filled when a Seller sells their DAI for the price you gave.

Step 5 – Withdraw Dai (DAI)

Unless you are trading, best advise is not to keep your crypto coins on an Crypto Trader for an extended time frame. To withdraw your Dai (DAI), go to the “Funds” tab and mouse click on “Withdraw”. (DAI) Dai can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find (DAI) Dai by using the given drop-down box. Put into the amount of Dai (DAI) you'd like to take off. Take into account the demonstrated minimus/fees. Also make sure you have entered your precise withdraw address.

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

Kudos! You have successfully purchased and safed Dai (DAI) in Jamaica.

That's it!

Take offs from Crypto Trader can take anywhere from 1 – 30 minutes (rely on usage of the network). As soon as you have proved your withdrawal using Etherscan.io or Ethplorer.io and the Dai (DAI) is stored inside your wallet, you are finished.