How to Purchase Bitcoin (BTC) using Dai (DAI)

To buy Bitcoin using Dai, first, find a cryptocurrency exchange that supports the BTC/DAI trading pair, such as Nexo, YouHodler, Binance or Kraken. Create an account, verify your identity, and deposit your DAI into your exchange wallet. Locate the BTC/DAI pair on the trading platform and place an order to exchange your Dai for Bitcoin. If the BTC/DAI pair is unavailable, you can first exchange Dai for a stablecoin like Tether (USDT) or a fiat currency, then trade that for Bitcoin. 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.