How to buy Dai

DAI

DAI is the 4th largest stablecoin by market cap that seeks to maintain a constant value of $1 USD and uses other cryptocurrency assets as its collateral. It is decentralized, collateral-backed and runs on the Ethereum blockchain. DAI is governed by the Maker (MKR) protocol, which is a decentralized application (DApp) whose function is to collect collateral and make loans of DAI in an automated way. You can buy and sell DAI for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade DAI for BTC the same way you trade CAD for USD. You can also trade DAI to CAD based on the DAI price. To learn how to buy DAI, scroll down to see how to buy DAI.

Danish entrepreneur Rune Christensen is credited to the formation of MakerDAO – a decentralized autonomous organization – back in 2014. On December 18, 2017, DAI and its associated smart contracts were officially launched on the main Ethereum network. The price of DAI was successfully kept close to one US dollar during its first year of existence, even though the price of Ether, the only collateral available at the time, declined by more than 80% during the same time period. In 2018, MakerDAO formed the Maker Foundation, run from Copenhagen, which is the organization facilitating the development of MakerDAO.

You may want to consider buying DAI if you would like to:

Diversify your portfolio by introducing a variety of cryptocurrency assets

Stake it to generate interest via the DAI Savings Rate

Buy NFTs, play games online and explore other Ethereum-backed projects

Buy and sell goods at a host of online and retail stores that accept DAI or any Ethereum-backed crypto

Dai (DAI)

All prices are in USD.

How to buy Dai

DAI

DAI is the 4th largest stablecoin by market cap that seeks to maintain a constant value of $1 USD and uses other cryptocurrency assets as its collateral. It is decentralized, collateral-backed and runs on the Ethereum blockchain. DAI is governed by the Maker (MKR) protocol, which is a decentralized application (DApp) whose function is to collect collateral and make loans of DAI in an automated way. You can buy and sell DAI for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade DAI for BTC the same way you trade CAD for USD. You can also trade DAI to CAD based on the DAI price. To learn how to buy DAI, scroll down to see how to buy DAI.

Here’s how to buy Dai on Quick Trade

Buying DAI is just like foreign exchange of traditional currencies like the Canadian Dollar, US Dollar, or Euro. You trade coins that you have – either a cryptocurrency or a dollar – for DAI, which trades as DAI. Based on when you think you can get a good DAI price, you should be able to trade DAI to CAD.

To buy Dai, simply follow these steps:

1

Sign up for a Quick Trade account and verify your identity

This is the first step to buying DAI. Verifying your identity helps us to properly connect your funds to your account.

2

Fund your account with Canadian Dollars

Funding is like putting gas into a car – it helps you get where you want to go.

3

After funding, select DAI from the list on the trade section

Quick Trade lets you trade DAI without leaving the app. You can also check the DAI stock price and convert DAI to CAD on the platform.

4

Select a currency you’ve funded and use it to check the DAI price

In the Quick Trade app, all currencies available to trade can be found in the drop down list.

5

Buy DAI

Congratulations! You’re now the proud owner of DAI. You can either HODL or use it to exchange DAI to CAD. To the moon!

Danish entrepreneur Rune Christensen is credited to the formation of MakerDAO – a decentralized autonomous organization – back in 2014. On December 18, 2017, DAI and its associated smart contracts were officially launched on the main Ethereum network. The price of DAI was successfully kept close to one US dollar during its first year of existence, even though the price of Ether, the only collateral available at the time, declined by more than 80% during the same time period. In 2018, MakerDAO formed the Maker Foundation, run from Copenhagen, which is the organization facilitating the development of MakerDAO.

You may want to consider buying DAI if you would like to:

Diversify your portfolio by introducing a variety of cryptocurrency assets

Stake it to generate interest via the DAI Savings Rate

Buy NFTs, play games online and explore other Ethereum-backed projects

Buy and sell goods at a host of online and retail stores that accept DAI or any Ethereum-backed crypto

Where do I keep my DAI?

At Coinsquare, we offer customers the power of easy transactions and cold storage security. We’re constantly organizing funds to ensure our customers trade instantly and securely. There are different storage options available for your cryptocurrency, your choice should ultimately be the one that suits your needs. Mobile and web wallets can make transactions easy as the currencies are accessible directly from your phone or device, whereas hardware wallets are best suited for secure, long-term storage as they eliminate the vulnerability found in online environments.

Ready to add DAI to your portfolio?

Create your account (if you haven’t already), fund it with spare change and get your DAI.

Sign Up & Buy DAI

Prices and percentage changes are for information purposes only and in no way reflect Coinsquare Ltd.’s speculation of market direction. Past performance is not an indicator of future performance. Please find our Risk Disclosure statement here.