Dai – Price, Historical Data & How to Buy

Dai
DAI
$ 1.00
0.00001041 BTC
Marketcap
$ 3,475,379,207
Volume (24h)
$ 219,973,318
Circulating Supply
3,475,272,555 DAI
Total Supply
3,475,272,555 DAI

What is Dai?

Dai stablecoin

Dai is a decentralized stablecoin that runs on the Ethereum blockchain. It was created by the team at MakerDAO and is designed to be a more stable alternative to other crypto assets, like Bitcoin. Dai is backed by collateral and can be used to make payments or sent to others without having to worry about volatility. There are currently over 1 billion Dai in circulation and new Dais are created when people deposit collateral into the MakerDAO system.

Dai has a number of advantages over FIAT currency. For one, it is much more efficient to use Dai for payments than traditional fiat currencies. This is because Dai can be sent and received quickly and easily on the Ethereum blockchain. Additionally, Dai is not subject to the same volatility as other crypto assets. This makes it a much more stable store of value.

The Dai blockchain is powered by the Maker Protocol, which is a decentralized platform that runs on Ethereum. The Maker Protocol is designed to provide stability for the Dai system. It does this by using a number of mechanisms, including smart contracts, to keep the value of Dai pegged to the US dollar.

The future of Dai looks bright. The team at MakerDAO is continuing to work on improving the system and expanding its use cases. Additionally, Dai is gaining more mainstream adoption and is being listed on more exchanges. However, there are still some challenges that Dai faces. For example, the Dai system is reliant on the Ethereum blockchain, which means that it is subject to the same scalability issues as Ethereum. Additionally, there is always the risk that the collateral backing Dai could fall in value, which would lead to a decrease in the value of Dai.

How to buy Dai

If you’re looking to purchase Dai, there are a few things you’ll need to keep in mind. Payments for Dai are made in Ethereum, so you’ll need to have some ETH available in order to make your purchase. In addition, Dai transactions are verified by the Ethereum network, so you’ll need to be sure that your ETH transaction can be completed successfully.

There are a few different options available for purchasing Dai, and the best option for you will depend on your needs and preferences. Some popular Dai exchanges include Binance, Kraken, and Coinbase. Each of these exchanges offers different features and benefits, so be sure to research each one before making your decision.

Once you’ve selected an exchange, you’ll need to create an account and deposit your ETH into the account. Once your ETH is deposited, you’ll be able to purchase Dai using the exchange’s interface.

How to store Dai

There are a few ways to store Dai:

  • In a cryptocurrency wallet: You can store Dai in any cryptocurrency wallet that supports the ERC20 token standard. This includes popular wallets like MetaMask, MyEtherWallet, and Ledger Nano S Plus.
  • On an exchange: You can also store Dai on certain cryptocurrency exchanges that support the ERC20 token standard.
  • In a smart contract: You can also store Dai in a smart contract on the Ethereum blockchain. This option is best for developers or advanced users.

Which option is best for you will depend on your needs and preferences. If you’re looking for the most security, storing Dai in a cryptocurrency wallet is your best bet. If you need to be able to access your Dai quickly and easily, storing it on an exchange may be a better option for you. And if you’re a developer or advanced user, storing Dai in a smart contract may be the best solution for you. Whichever option you choose, make sure you do your research to ensure that your Dai is safe and secure.

Dai historical price – Line chart & candlestick

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Advantages of Dai

Dai is a decentralized stablecoin that offers many advantages over regular fiat currencies. Payments with Dai are quick and inexpensive, and the coin is also very safe to use. In addition, Dai is completely decentralized, meaning that it is not subject to the control of any central authority. Finally, Dai’s inflation rate is very low, making it a very stable currency.

Dai calculator

Here you can calculate the value of Dai in all major fiat currencies.

DAI