Guide: How To Buy DigixDAO (DGD) On Binance

· 09 Feb 2018 in Guides, Home

The DigixDAO cryptocurrency coins offer gold on the Ethereum blockchain. The company uses the blockchain transparency, unchangeability, and predictability by applying it to precious assets that are physical. Digix has created technologies such as POA (proof-of-asset protocol) and Digix-Gold-Coins (the DigixDAO coin) on the Ethereum blockchain.

It was launched sometime in March 2016. After it finished its first crowd sale on the Ethereum blockchain, it exceeded expectations by collecting $5.5 million within 24hrs. This was the beginning of the journey for the Digix DAO project and the first major Ethereum Distributed Autonomous Organization (DAO).

As of now, Digix has created two types of Ethereum tokens which have unique properties. Though they are different, the coins also complement each other to ensure the success of the platform. The DGX coin is to become the future of gold standard as a value of exchange on the Ethereum network. Every coin held is 1 gram of 99.99% of standard gold and is deposited and secured in a safe place.

The DSG, on the other hand, is a reward for users quarterly based on the total number of DGX tokens they’ve collected through transaction fees. The tokens are also used to submit proposals to DigixDAO to increase the DGX adoption.

Best Wallet To Hold Your DigixDAO Cryptocurrencies

The platform is currently built on the Ethereum blockchain and therefore is supported by all Ethereum wallets that can also store ERC-20 tokens.

MyEtherWallet would be your best bet, but you can also use the METAMASK to transact with your DigixDAO on your PC easily.

Where To Purchase The DigixDAO (DGD) Tokens With Ethers

DigixDAO is currently listed on a lot of exchanges with its highest volume being carried out on the Binance Exchange.

The following steps will guide you on how to purchase the DGD on the Binance platform.

You Need To Be Registered On The Binance Platform

  • Before you can trade cryptocurrencies for DGD, you need to be a registered and approved member of the Binance Exchange. If you are already a member, you can go ahead to log in to your section of the platform using your login details. If you are not, you will need to Register Here.
  • If you are new, then the registration process is straightforward. All you need is an active email address, and to choose a secure password. The password could be alphanumeric for stronger security. Check the box to accept to Binance Terms of Use and click on the registration button. This should take you no more than two minutes to complete, and you are ready to trade some of your already owned coins (Ethers) for DGD.
  • The last part of your registration is confirming you signed up by clicking on the activation link in the email that would be automatically generated and sent to the email address you provided while registering.
  • When all that process is completed, login to the platform using your email and password you chose, and you’ll be granted access to the platform.

Fund Your Account With ETH

  • When you are logged in, the next step is to fund your Binance account with the same value of DGD you are willing to purchase. Maybe a little bit more to cover transaction fee on the Binance exchange.
  • Click on FUNDS then DEPOSITS WITHDRAWALS at the top of the page and wait for the page to load all cryptocurrency wallets supported by the Binance exchange.
  • Search for the Ethereum wallet. You should see this right at the top of the page but if not, use the search box to locate it faster.
  • Click on the DEPOSIT button in front of Ethereum. A wallet address would be generated. You are to copy this and send some coins to that address from your external wallet. Wait a while, and your deposited funds should reflect on your account in a couple of minutes.

Buy DGD With Ethereum

  • With your deposited funds fully confirmed, go straight to click on the EXCHANGE link close to the Binance logo and select the BASIC option as displayed on mouse rollover.
  • From the list of pairs being traded at the top right section of the page, locate the DGD/ETH pair.
  • At the section of the chart, the first box with the label ‘Price’ in front shows you how much BTC you’d be paying per DGD purchased. Inside the box labeled ‘Amount’ you need to enter the number of DGD, you want to buy. The percentage buttons under the box allow users select what percentage of deposited funds they’ll like to use for the purchase with 100% option available to those who want to use all of the funds deposited. The box labeled total shows how much you would be paying in ETH for the transaction.
  • Click on the BUY DGD button to complete the process and wait for your DGD cryptocurrency to appear in its wallet on the Binance platform.

After this step, you should have a certain number of DGD in your Binance account. To check them, click on the ‘Funds’ button and then click ‘ Balances’

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