How to Buy Dai (DAI) in Svalbard

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

Step 1 – Join CoinbaseGet Free $10

You will first need to buy one of the top-tier currencies. Exchanges commonly accept either BTC (Bitcoin) or ETH (Ethereum) in exchange for alternative Coins. Follow the Link below for registration and to get your first 10 Dollar.

Step 2 – Send Your Funds to an Crypto Trader

Your Bitcoin or Ethereum will need to be sent over to an Exchange now. All exchanges have a deposit form that is similar. Dai (DAI) is obtainable on Binance, so we will use that as an example. Unsure on how to send funds from Coinbase to an Crypto Trader? (Follow this guide)

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

Bitcoin 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, such as Airswap or DDEX could be unlike (Just follow our guide).

Step 3 – Locate (DAI) Dai

Once your deposit has been confirmed, you will instantly have access to your finances and you can start purchasing and trading. To invest in (DAI) Dai on Binance, you will want to go to the tab which is calledExchangeand after that mouse click onBasic”.

In order to spot (DAI) Dai, you'll need to insert the short name of the asset (DAI) into the search-box, which is marked in the picture. Make sure you have choosen the right pairing, we've marked this too. Click onDAI/BTCto continue.

Step 4 – Acquisition of (DAI) Dai

As soon as you have found (DAI) Dai, you'll be presented with a Chart with Prices (in the Center of the image) and a few Order Books (Leftside of the picture). For now we are creating our Limit Order.

The field with thePricetag will be filled automatically with the up-to-date tariff (DAI) Dai was sold for. You can change this to your favoured rate. The field with theAmounttag is the volumen of DAI you wish to purchase. TheTotalfield is the aggregated price in Bitcoin that you'll settle for the whole quantity of DAI.

If you are happy, click onBuy DAI”. Your plan will be filled when a Vendor trades their DAI for the price you offered.

Step 5 – Withdraw Dai (DAI)

Unless you're frequently trading, best advise is not to keep crypto coins on an Cryptocurrency Exchange for an extended time period. In order to take off your Dai (DAI), go to the tab calledFundsand mouse click onWithdraw”. (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. Put into the volumen of Dai (DAI) you would wish to take off. Don't forget the displayed fees/minimums. Also make sure you have entered your precise withdraw address.

If you're satisfied, click onSubmit”. You could be requested for verfication via phone/email ahead of a withdrawal.

Kudos! You have successfully purchased and stored Dai (DAI) in Svalbard.

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (depending on usage of the network). As soon as you have proved your take off with Etherscan.io or Ethplorer.io and the Dai (DAI) is stored inside your wallet, you're finished.