How to Buy Dai (DAI) in Luxembourg

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

Step 1 – Join Coinbase and recieve 10$ for free

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

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

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

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

BTC must be sent to a BTC deposit address, ETH to an Ethereum deposit address, et cetera. In the case you are working with a decentralized exchange, like Airswap or DDEX could be unlike (Just follow our how-to).

Step 3 – Find (DAI) Dai

Once your deposit has been verified, you'll instantly have access to your funds and you can initiate purchasing and trading. To purchase Dai (DAI) on Binance, you will want to go to theExchangetab and then mouse click onBasic”.

To locate Dai (DAI), you will need to insert the shortname of the coin (DAI) into the search-box, which is marked in the picture. Make sure you have choosen the correct grouping, we've marked this also. Click onDAI/BTCto continue.

Step 4 – Purchasing Dai (DAI)

After you've spotted Dai (DAI), you will be given a Price Chart (in the Center of the picture) and a few Order Books (on the Left of the image). For now we're creating our own Limit Order.

ThePricefield will be filled automatically with the recent valuation (DAI) Dai was sold for. This can be changed to your favoured rate. TheAmountfield is the quantity of DAI you wish to buy. The field with theTotaltag is the whole price in Bitcoin that you'll pay for the whole volumen of DAI.

If you're glad, click onBuy DAI”. Your plan will be filled when a Vender trades their DAI for the price you offered.

Step 5 – Withdraw Dai (DAI)

Unless you're frequently trading, never keep your crypto on an Cryptocurrency Exchange for an extended time period. To take off your (DAI) Dai, hover over the tab calledFundsand click onWithdraw”. Dai (DAI) can be stored safely 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 would wish to withdraw. Take into account the displayed fees/minimums. Also make sure you have entered your right withdraw address.

When you're happy, click onSubmit”. You may be asked for email/phone verification ahead of a withdrawal.

Congratulations! You have successfully purchased and stored Dai (DAI) in Luxembourg.

That's it!

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