How to Buy Dai (DAI): A Step-by-Step Guide

Introduction

When purchasing Dai, there are several factors to consider, including choosing an exchange to purchase it from and transaction method. Fortunately, we've compiled a bunch of reputable exchanges to help you with the process.

Step-by-Step Guide

1. Choose an Exchange
Research and select a cryptocurrency exchange that operates in the in your country and supports Dai trading. Consider factors such as fees, security, and user reviews.
Platform Coin Price
Uphold Dai (DAI) 1
BingX Dai (DAI) 1
See all 26 prices
2. Create an Account
Register on the exchange's website or mobile app, providing personal information and identity verification documents.
Platform Coin Price
Uphold Dai (DAI) 1
BingX Dai (DAI) 1
See all 26 prices
3. Fund Your Account
Transfer funds to your exchange account using supported payment methods like bank transfer, credit card, or debit card.
4. Navigate to the Dai Market
Once your account is funded, search for "Dai" (DAI) in the exchange's marketplace.
5. Choose a Transaction Amount
Enter the desired amount of Dai you wish to purchase.
6. Confirm Purchase
Preview the Transaction Details and Confirm Your Purchase by clicking the "Buy DAI" or equivalent button.
7. Complete Transaction
Your Dai purchase will be processed and deposited into your exchange wallet within minutes.
8. Transfer to a Hardware Wallet
Consider using a reputable hardware wallet to store your Dai securely.

Platform	Coin	Price
Uphold	Dai (DAI)	1
BingX	Dai (DAI)	1

Platform	Coin	Price
Uphold	Dai (DAI)	1
BingX	Dai (DAI)	1

What to be Aware of

When purchasing Dai, it's important to choose a reputable exchange that is easy to use, and has reasonable fees. Once you've done this, always transfer your crypto a hardware wallet. That way, no matter what happens to that exchange, your crypto is safe.

Latest Movements

Dai (DAI) is currently priced at $1 with a 24-hour trading volume of $147.11M. In the last 24 hours, Dai has experienced a decrease of -0%. The market cap of Dai stands at $3.41B, with 3.41B DAI in circulation. For those looking to buy or trade Dai, Uphold offers avenues to do so securely and efficiently

Market cap: $3.41B
24h volume: $147.11M
Circulating supply: 3.41B DAI

See latest information

Frequently Asked Questions About Dai (DAI)

What is Dai and how does its stability work?: Dai is a decentralized, non-custodial stablecoin designed to maintain a value close to $1. It operates on the Ethereum blockchain using overcollateralized debt positions in the Maker Protocol. Users lock up collateral assets (like ETH) in a Maker Vault to generate Dai. If the collateral value falls, the system triggers liquidation to protect the peg. Unlike fiat-backed stablecoins, Dai is not issued by a central bank; its stability relies on smart contracts, governance, and economic incentives within the Maker ecosystem. For everyday use, Dai offers a stable unit of account and medium of exchange on DeFi platforms, reducing exposure to crypto price volatility.
How can I acquire and store Dai securely?: You can acquire Dai through crypto exchanges that list it, or by converting other cryptocurrencies on DeFi platforms. For storage, use a compatible wallet that supports ERC-20 tokens, such as MetaMask, Ledger, or other hardware/software wallets. If you want enhanced security, consider a hardware wallet for long-term storage and enable recovery phrases. When using DeFi apps, be mindful of contract addresses and only interact with reputable protocols. Always double-check the Dai contract address and use centralized exchanges with proper security practices to minimize risk of hacks or phishing. Regularly update wallet software and enable two-factor authentication where possible.
What are the main advantages and risks of using Dai in DeFi?: Advantages include price stability relative to more volatile tokens, broad acceptance across DeFi platforms (lending, borrowing, swapping), and quick settlement on the Ethereum network. Dai enables predictable payments, savings, and collateral at risk-adjusted rates within decentralized protocols. Risks involve smart contract risk, oracle risk, and potential systemic events within the Maker ecosystem that could affect Dai’s peg. Regulatory developments could also impact stablecoins. To mitigate risk, diversify across platforms, review protocol health metrics (collateralization ratios, liquidation thresholds), and stay informed about MakerDao governance decisions and audits. Always assess whether the use case justifies exposure to DeFi risks.