How to Buy Dai (DAI) in Dominica

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

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

In the beginning you'll need to buy one of the bigger currencies. Exchanges commonly accept either Bitcoin or Ethereum in exchange for any other Cryptocurrency. Click the button below to register and to get your first $10.

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

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Cryptocurrency Exchange now. All exchanges have a deposit form that is similar. Dai (DAI) is available on Binance, so we're going to use that as an sample. Unsure on how to send funds from Coinbase to an Cryptocurrency Exchange? (Follow this manual)

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

BTC must be sent to a Bitcoin deposit address, Ethereum to an ETH deposit address, and so forth. If you are using a decentralized exchange, such as Airswap or DDEX could be different (Follow our guide).

Step 3 – Find Dai (DAI)

As soon as your deposit has been confirmed, you'll now have access to your assets and you can start invest and trading. To purchase (DAI) Dai on Binance, you will want to go to theExchangetab and mouse click onBasic”.

To discover (DAI) Dai, you will need to put the cointype (DAI) into the search box, which is marked in the picture. Be certain of having selected the right grouping, we've marked this too. Click onDAI/BTCto continue.

Step 4 – Buying Dai (DAI)

After you've spotted (DAI) Dai, you'll be given a Price Chart (in the Center of the picture) and a few Order Books (Leftside of the picture). And now we are going to make our Limit Order.

ThePricefield will be filled automatically with the most up-to-date price (DAI) Dai was traded for. You can change this to your desired price. The field with theAmounttag is the quantity of DAI you want to purchase. TheTotalfield is the whole price in Bitcoin that you'll settle for the complete quantity of DAI.

If you are satisfied, make a mouse click onBuy DAI”. Your order will be filled as soon as a Seller sells their DAI for the price you introduced.

Step 5 – Withdraw (DAI) Dai

Unless you are trading, best advise is not to keep coins on an Crypto Trader for an extended time period. To take off your Dai (DAI), go to the tab calledFundsand mouse click onWithdraw”. (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 quantity of Dai (DAI) you would wish to take off. Take into account the displayed minimus/fees. Also make sure you have entered your correct withdraw address.

When you're satisfied, clickSubmit”. You could be requested for phone/email verification ahead of a take off.

Congratulations! You have successfully bought and safed (DAI) Dai in Dominica.

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (depending on network usage). As soon as you've confirmed your withdrawal with Ethplorer.io or Etherscan.io and the (DAI) Dai is stored within your wallet, you are done.