How to Buy Dai (DAI) in Jersey

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

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

You will first need to buy one of the bigger coins. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Follow the Link below for registration and to get your welcome $10.

Step 2 – Send Your Funds to an Crypto Trader

Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. All exchanges have 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 Crypto Trader? (Just 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, etcetera. If you are dealing with a decentralized exchange, such as Airswap or DDEX could be divergent (Follow these easy steps).

Step 3 – Find Dai (DAI)

Once your deposit has been affirmed, you will directly have access to your assets and you can launch invest and trading. To invest in (DAI) Dai on Binance, you'll want to hover over the “Exchange” tab and mouse click on “Basic”.

In order to find (DAI) Dai, you will need to put the short name of the asset (DAI) into the search box, which is highlighted in the image. Make sure you have choosen the right grouping, we've highlighted this also. Click on “DAI/BTC” to go ahead.

Step 4 – Purchasing (DAI) Dai

After you have located (DAI) Dai, you'll be given a Chart with Prices (in the Center of the image) and a few Order Books (on the Left of the image). And now we are going to create our own Limit Order.

The “Price” field will be filled with the most up-to-date rate (DAI) Dai was sold for. This can be changed to your favoured price. The field with the “Amount” tag is the volumen of DAI you like to buy. The “Total” field is the whole price in Bitcoin that you'll settle for the whole quantity of DAI.

If you are satisfied, make a mouse click on “Buy DAI”. Your plan will be filled as soon as a Vender sells their DAI for the price you offered.

Step 5 – Withdraw (DAI) Dai

Unless you're frequently trading, never keep your crypto coins on an Exchange for an extensive time frame. In order to take off your (DAI) Dai, hover over the “Funds” tab and click on “Withdraw”. (DAI) Dai can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

Find (DAI) Dai by using the provided drop-down box. Drop in the amount of Dai (DAI) you would like to withdraw. Take into account the shown fees/minimums. Also make sure you have filled your right withdraw address.

When you're happy, click on “Submit”. You may be asked for phone/email verification before a withdrawal.

Congrats! You have successfully bought and safed (DAI) Dai in Jersey.

That's it!

Withdrawals from Cryptocurrency Exchange can take anywhere from 1 – 30 minutes (rely on network usage). Once you have proved your take off using Ethplorer.io or Etherscan.io and the (DAI) Dai is safe inside your wallet, you are finished.