How to Buy Dai (DAI) in Isle Of Man

A Step-by-Step-Guide on how to buy Dai (DAI) in Isle Of Man

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

You will first need to buy one of the top-tier currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for Altcoins. Click the button below to register and getting your first 10 Dollar.

Step 2 – Send Your Funds to an Crypto Trader

Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Crypto Trader now. All exchanges have a deposit form that is alike. Dai (DAI) is accessible on Binance, so we will use that as an sample. Unsure on how to send funds from Coinbase to an Crypto Trader? (Just follow these easy steps)

Make sure you have selected the exact coin you would like to deposit.

Bitcoin must be sent to a BTC deposit address, Ethereum to an Ethereum deposit address, and so forth. If you are using a decentralized exchange, like Airswap or DDEX could be different (Just follow our manual).

Step 3 – Find Dai (DAI)

Once your deposit has been verified, you will now have access to your assets and you can initiate invest and trading. To buy Dai (DAI) on Binance, you will want to hover over the tab which is calledExchangeand mouse click onBasic”.

In order to find (DAI) Dai, you will need to put the shortname of the coin (DAI) into the search-box, which is marked in the image. Make sure you have choosen the right grouping, we have highlighted this also. Click onDAI/BTCto progress.

Step 4 – Buying Dai (DAI)

As soon as you've found Dai (DAI), you will be presented with a Price Chart (in the Center of the image) and some Order Books (Leftside of the picture). Next we're going to create our Limit Order.

ThePricefield will be filled automatically with the most recent rate (DAI) Dai was sold for. This can be changed to your desired rate. The field with theAmounttag is the quantity of DAI you wish to buy. TheTotalfield is the aggregated price in BTC that you'll settle for the complete quantity of DAI.

If you're satisfied, click onBuy DAI”. Your order will be filled as soon as a Vender trades their DAI for the price you gave.

Step 5 – Withdraw Dai (DAI)

Unless you are regularly trading, best advise is not to keep your crypto coins on an Crypto Trader for an extended time period. To take off your (DAI) Dai, go to theFundstab and click onWithdraw”. Dai (DAI) can be safely stored using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide)

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

When you are glad, make a mouse click onSubmit”. You may be asked for email/phone verification ahead of a take off.

Congrats! You have successfully bought and stored Dai (DAI) in Isle Of Man.

That's it!

Withdrawals from Crypto Trader can durate between 1 – 30 minutes (rely on usage of the network). Once you've confirmed your withdrawal with Ethplorer.io or Etherscan.io and the (DAI) Dai is stored within your wallet, you are done.