What is Dai (DAI) Coin
DAI is an Ethereum-based stablecoin (stable-price cryptocurrency) whose issuance and development is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization. The price of DAI is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new DAI Coin is minted.
It is important to differentiate between Multi-Collateral DAI and Single-Collateral DAI (SAI), an earlier version of the token that could only be collateralized by a single cryptocurrency; SAI also doesn’t support the DAI Savings Rate, which allows users to earn savings by holding DAI tokens. Multi-Collateral DAI was launched in November 2019.
- Dai is a decentralized stablecoin built by the MakerDAO platform, operating on the Ethereum blockchain.
- Users may deposit predetermined assets as collateral against which they may print the DAI token.
- Holders of the DAI tokens can earn the Dai Savings Rate (DSR) by locking them into a special smart contract, which is accessible through Oasis Save, a decentralized trading and lending platform built by MakerDAO.
- When users decide to return their printed DAI, they must also pay a stability fee based on interest accrued on the Vault.
How To Buy Dai (DAI) Coin
1.Step: Everyone who is planning to invest in or benefit from the advantages of cryptocurrencies wonders the answer to Where to buy Dai coin question. First, you need an online wallet to buy cryptocurrencies. You need to sign up to Binance exchange from here, which is preferred globally to buy coins and you can buy coins with fiat currencies. You can quickly access many assets and trade types such as altcoins, future markets, and margin by creating a Binance account.
2.Step: Complete your registration by typing an email to the email section or typing your phone number on the section available on the mobile tab. Click/tap on the “Buy Crypto with Your Credit Card” option after the registration and verify your identity.
3.Step: Continue the process by typing the amount you would like to invest and your preferred cryptocurrency. Keep in mind that for security reasons, your credit card/debit cardholder information must match with the name available on your account. If you would like to buy cryptocurrencies with a wire transfer, you need to follow the Buy Crypto > Third-Party Payment options to pick your preferred fiat currency to buy cryptocurrencies.
4.Step: If the cryptocurrency you are planning to buy is not available on the list, buy USDT “You can always redeem 1 USDT Coin for US $1.00”. You can buy any coin you want with USDT by following Buy-Sell > Classic steps. We have provided the answer to How to buy Buy Dai coin, now you can view the cryptocurrencies you bought by clicking on the wallet summary available on your Binance account. You can sell your assets when their value increases, or you can withdraw them to your bank account in desired fiat currency.
How Much is a Dai (DAI) Coin
Dai (DAI) coin prices are updated instantly in USD, Euro, Sterling currencies in the following table.
Dai (DAI) Coin Review
You can learn more about Dai (DAI) coin reviews and information on cryptocurrencies by visiting their official page available in the following.
Website https://makerdao.com/en/ Whitepaper https://makerdao.com/en/whitepaper/ Github https://github.com/makerdao Documentation https://docs.makerdao.com/smart-contract-modules/dai-module/dai-detailed-documentation Telegram https://t.me/makerdaoOfficial