How to Purchase MakerDAO Arbitrum Bridged DAI (Arbitrum One) (DAI) using Sponge (OLD) ($SPONGE)

To buy MakerDAO Arbitrum Bridged DAI (Arbitrum One) using Sponge (OLD), first, find a cryptocurrency exchange that supports the DAI/$SPONGE trading pair. Create an account, verify your identity, and deposit your $SPONGE into your exchange wallet. Locate the DAI/$SPONGE pair on the trading platform and place an order to exchange your Sponge (OLD) for MakerDAO Arbitrum Bridged DAI (Arbitrum One). If the DAI/$SPONGE pair is unavailable, you can first exchange Sponge (OLD) for a stablecoin like Tether (USDT) or a fiat currency, then trade that for MakerDAO Arbitrum Bridged DAI (Arbitrum One). Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.