What Is DAI Crypto?


Stablecoins are the type of crypto that maintain a stable rate backed by some real-life currency (dollar, euro, etc.). Crypto traders and investors use such assets as stablecoins to reduce the risk of losing their savings when huge market fluctuations begin. Stablecoins protect assets against typical volatility in the market.

DAI crypto is a stablecoin engineered on the Ethereum blockchain. DAI crypto price is equal to one dollar.

Being stable and backed by the dollar, DAI still maintains the features of cryptocurrencies – it is possible to transfer it to anyone and anywhere in the world without the participation of third parties.

DAI crypto is a decentralised asset. It means that it does not have any regulatory body or group of people controlling the emission of DAI coins. DAI is often used for decentralised loans on different services.

Since DAI crypto price is stable and is not subject to market fluctuations, traders often come to convert their crypto into DAI and hold it until the market gets more stable.

Where To Buy DAI Crypto?

The asset is available on many popular crypto platforms:

  • Bitfinex
  • Kraken
  • Coinbase
  • WhiteBIT
  • Binance.

Registered and verified clients can buy DAI crypto with their bank cards attached to their accounts. It is easy to work with this coin, for you can always convert it into any other crypto asset or withdraw it to your card. DAI is good for efficient and fast money transfers. While other crypto asset rates may change in a matter of seconds, and the amount you transfer increases or reduces, the DAI crypto work principle is totally different. In that case, the transaction amount does not change regardless of sharp market fluctuations.

Is DAI Crypto A Good Investment?

Buying and holding stablecoin will not bring you any financial gains, for their rates are pegged to dollar value and do not follow the market changes. A good option to make money on stablecoins like DAI is to lend them out on various lending services. In this case, you will receive interest.

Recent Stories