How to Buy Dai (DAI) in Australia

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

Step 1 – Signup to Coinmama

You will first need to purchase one of the major currencies. Exchanges usually accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for any other Cryptocurrency. Click below to register and getting your ETH (Ethereum) or BTC (Bitcoin).

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

Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Crypto Exchange now. All exchanges have a deposit form that is identical. Dai (DAI) is accessible on Binance, so we will use that as an sample. Not sure on how to send funds from Coinbase to an Crypto Exchange? (Just follow this guide)

Make sure you have chosen the precise coin you want to deposit.

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

Step 3 – Find {Dai (DAI)|(DAI) Dai}

As soon as your deposit has been verified, you will instantly have access to your funds and you can begin purchasing and trading. To invest in {Dai (DAI)|(DAI) Dai} on Binance, you will want to hover over the tab which is called “Exchange” and mouse click on “Basic”.

In order to discover {Dai (DAI)|(DAI) Dai}, you will need to put the short name of the asset (DAI) into the search-box, which is highlighted in the picture. Be certain of having selected the proper grouping, we have highlighted this too. Click on “DAI/BTC” to proceed.

{How to buy Coin on Binance 1|Binance How To Buy 1} Dai (DAI)
Step 4 – Purchasing {Dai (DAI)|(DAI) Dai}

After you've found {Dai (DAI)|(DAI) Dai}, you'll be presented with a Price Chart (in the Center of the image) and a few Order Books (on the Left of the image). For now we're going to make our Limit Order.

The ”Price” field will be filled automatically with the most latest price {Dai (DAI)|(DAI) Dai} was sold for. You can change this to your favoured rate. The field with the “Amount” tag is the volumen of DAI you like to buy. The ”Total” field is the total price in Bitcoin that you'll pay for the whole volumen of DAI.

If you are glad, click on “Buy DAI”. Your plan will be filled when a Vendor trades their DAI for the price you gave.

Step 5 – Withdraw {Dai (DAI)|(DAI) Dai}

Unless you are trading, best advise is not to keep your crypto coins on an Exchange for an longer time period. In order to take off your {Dai (DAI)|(DAI) Dai}, go to the ”Funds” tab and click on “Withdraw”. {Dai (DAI)|(DAI) Dai} can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide)

Locate {Dai (DAI)|(DAI) Dai} by using the given drop-down box. Drop in the volumen of {Dai (DAI)|(DAI) Dai} you'd wish to take off. Take into account the displayed fees/minimums. Also make sure you have entered your right withdraw address.

When you are happy, click “Submit”. You could be asked for verfication via email/phone before a withdrawal.

Congratulations! You have successfully purchased and safed Dai (DAI) in Australia.

That's it!

Take offs from Crypto Trader can durate between 1 – 30 minutes (rely on usage of the network). Once you have confirmed your take off with Etherscan.io or Ethplorer.io and the {Dai (DAI)|(DAI) Dai} is safe in your wallet, you're all done.

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