DAI / US Dollar — buy, sell, exchange
DAI is the internal secured blockchain cryptocurrency of the MakerDAO ecosystem. Although there is another coin inside the platform - MKR, but it has a completely different function and is not intended for settlements. Therefore, it is possible to buy DAI stablecoin for USD, which has a 1:1 value of collateral in US dollars. MakerDAO allows you to create smart contracts and conduct various transactions, like Ethereum. But the ecosystem has one significant advantage for contracts with physical expressions –– the secured currency has a more stable exchange rate, which helps not to worry about the final value of the product at the time of execution.
Unlike existing stabelcoins, DAI has collateral, which allows for the full realization of the blockchain's benefits in the regular market. Anyone with a collateral object in their possession will be able to get MakerDAO's internal cryptocurrency. Thus, after creating a coin and locking the collateral, one can dispose of DAI just like any other cryptocurrency: sell and buy for USD, withdraw it to a wallet or exchange it into another digital financial asset. After "redemption" of a stabelcoin, the holder of the coin receives a refund of the collateral and the coin itself "burns out", which allows for stability, security and reliability of the collateral, and avoids criticism from skeptics who question the full collateral of other stabelcoins.
How to buy DAI for US dollars
DAI is used when creating smart contracts, including those with automatic execution. Thus, it is possible to buy real assets, commodities and raw materials, giving the seller the ability to be sure of receiving a given amount at the time of execution. For example, Ethereum can lose or rise in value by tens of percent in just one day, making it a difficult financial instrument in the traditional market.
To buy or sell DAI you need to use the functionality of our brokerage platform. Just log into your account, enter the amount to be exchanged, the limit price if desired, and click Buy/Sell.
Frequent questions about DAI
Can I use DAI as an investment tool?
Yes, DAI, like any other cryptocurrency, can act as a digital financial asset for investment. However, it is worth understanding that cryptocurrency with real collateral in regular currency has the same disadvantages in long-term storage as traditional cash, namely, over time, inflation depreciates any currency not used in financial circulation.
How to buy DAI profitably?
To buy stabelcoin, you need to select an offer from other users on the exchange page. If the volume and price of the existing order is completely satisfactory, you can accept the offer, after which the DAI will be credited to the internal account of the exchange automatically. If there are no offers, or their price does not suit you, you can create your own order, in which you can flexibly customize the parameters - you just have to wait for a counter offer.
Can I keep DAI on my own wallet?
Yes, you can store a secured MakerDAO coin either on an exchange account or on your own wallet. In the first case, it is convenient to keep coins if the main purpose of purchase is investment or direct settlement in cryptocurrency, the more so Cryptex allows transferring coins without charges. Reliability of storage is provided by multi-level security system and cold storage of the main volume of cryptocurrency. It is worth withdrawing to your own wallet only in two cases: when the purpose of the purchase is a long-term investment or it is necessary to create a smart contract on the MakerDAO blockchain ecosystem.
