A Step-by-Step-Guide on how to buy cDAI (CDAI) in Kenya
Step 1 –
Join Coinbase – Get Free $10
In the beginning you'll need to purchase units of the top-tier currencies. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below for registration and to get your welcome $10.
Step 2 –
Send Your Ethereum or Bitcoin to an Cryptocurrency Exchange
Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Exchange now. Every exchange has a deposit form that is identical. cDAI (CDAI) is available on Binance, so we're going to use that as an illustration. Not sure on how to send Coinbase funds to an Crypto Exchange? (Follow this how-to)
Make sure you've chosen the exact coin you would like to deposit.
BTC must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, and so on. In the case you are dealing with a decentralized exchange, like Airswap or DDEX could be unlike (Follow our guide).
Step 3 –
Find cDAI (CDAI)
As soon as your deposit has been confirmed, you'll directly have access to your funds and you can begin purchasing and trading. To invest in (CDAI) cDAI on Binance, you will want to hover over the tab which is called “Exchange” and then click on “Basic”.
To spot cDAI (CDAI), you will need to insert the short name of the asset (CDAI) into the search box, which is highlighted in the image. Make sure you have choosen the right grouping, we have marked this also. Click on “CDAI/BTC” to proceed.
Step 4 –
Buying (CDAI) cDAI
Once you have spotted cDAI (CDAI), you'll be presented with a Chart with Prices (in the Center of the picture) and some Order Books (Leftside of the picture). And now we are going to create our own Limit Order.
The field with the “Price” tag will be filled with the recent tariff (CDAI) cDAI was sold for. This can be changed to your favoured rate. The “Amount” field is the amount of CDAI you like to buy. The “Total” field is the total price in BTC that you will pay for the whole amount of CDAI.
When you are happy, click on “Buy CDAI”. Your order will be filled when a Vendor sells their CDAI for the price you gave.
Step 5 –
Withdraw cDAI (CDAI)
Unless you're trading, best advise is not to keep crypto coins on an Cryptocurrency Exchange for an extensive time frame. In order to take off your (CDAI) cDAI, hover over the tab called “Funds” and mouse click on “Withdraw”. cDAI (CDAI) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)
Locate cDAI (CDAI) by using the given drop-down box. Enter the amount of (CDAI) cDAI you'd wish to take off. Don't forget the shown fees/minimums. Also make sure you have entered your right withdraw address.
When you are happy, click on “Submit”. You could be asked for email/phone verification before a take off.
