How to Buy Dai (DAI) in South Africa

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

Step 1 – Signup to Coinbase – Get Free $10

You'll first need to buy one of the major coins. Exchanges usually accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Click below to register and to get your first 10$.

Step 2 – Send Your Bitcoin or Ethereum to an Cryptocurrency Exchange

Your Bitcoin or Ethereum has to be sent over to an Exchange now. All exchanges have a deposit form that is identical. Dai (DAI) is accessible on Binance, so we will use that as an illustration. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Just follow this how-to)

Make sure you have selected the precise coin you wish to deposit.

Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, etcetera. In the case you're using a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our how-to).

Step 3 – Find (DAI) Dai

As soon as your deposit has been verified, you'll now have access to your assets and you can launch invest and trading. To invest in Dai (DAI) on Binance, you'll want to go to the tab which is called “Exchange” and then click on “Basic”.

In order to locate Dai (DAI), you'll need to put the cointype (DAI) into the search box, which is marked in the graphic. Be certain of having selected the proper grouping, we've marked this also. Click on “DAI/BTC” to proceed.

Step 4 – Buy Dai (DAI)

Once you have found Dai (DAI), you'll be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the picture). And now we're creating our Limit Order.

The “Price” field will be filled automatically with the most recent valuation Dai (DAI) was traded for. You can change this to your desired price. The field with the “Amount” tag is the quantity of DAI you want to purchase. The field with the “Total” tag is the aggregated price in Bitcoin that you will pay for the complete quantity of DAI.

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

Step 5 – Withdraw (DAI) Dai

Unless you are frequently trading, best advise is not to keep your crypto coins on an Cryptocurrency Exchange for an extensive time frame. In order to withdraw your (DAI) Dai, go to the “Funds” tab and mouse click on “Withdraw”. (DAI) Dai can be securely stored using a Wallet, e.g. MyEtherWallet. (MyEtherWallet Setup Guide)

Find Dai (DAI) by using the provided drop-down box. Enter the amount of Dai (DAI) you'd wish to withdraw. Take into account the shown minimus/fees. Also make sure you have entered your precise withdraw address.

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

Kudos! You've successfully purchased and stored Dai (DAI) in South Africa.

That's it!

Withdrawals from Crypto Trader can durate between 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 in your wallet, you are finished.