How to buy Dai | Buy Dai in Three easy steps | KoinX

how to buy Dai
Our step-by-step guide on how to buy Dai (DAI)

Dai is a stablecoin built on Ethereum. It is mostly used to lend and borrow cryptocurrency assets without the requirement for a middleman, resulting in a permission-less economy with little regulation. It was designed as a stablecoin and a collateral-based crypto, which means that the value isn’t backed by US dollars. Here is a brief guide on how to buy Dai in 3 easy steps at 3 biggest crypto exchanges 

How to buy Dai in Three easy steps?

Step 1 – Create an account

Step 2 – Select a wallet

Step 3 – Make the purchase

Step 1 - Create an account

The first step for buying DAI is to open an account on a cryptocurrency exchange that accepts the coin. Check out the details of the cryptocurrency exchange, like the cryptos listed, the fiat currencies supported, the 24 hours of support, and even the ease of use. After carefully weighing your alternatives, select a platform and create your account.

Step 2 - Select a wallet

The next step is to discover and select a wallet that serves both your interests and the goals you are trying to realize through trade investments. You would have to save your tokens in a wallet itself, therefore this step is essential. This guarantees that you receive the private keys that might be used to hold money that isn’t at risk. Wallets come in two varieties: software wallets and hardware wallets. It is often advised that you select a mix of both wallets for greater protection.

Step 3 - Make the purchase

Once you’ve established your account and chosen your currency, it’s time to make your purchase. To do so, you must first fund your broker account, select an order type and place the order.

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Where to buy Dai (DAI)?

1. Kraken
kraken crypto exchange

Along with being borderless, programmable, and simple to transfer, Kraken also offers steady pricing as an extra benefit. DAI can be easily transferred to Kraken accounts and exchanged for other cryptocurrencies. Kraken's low fees and comprehensive security safeguards make it an excellent platform for high- or low-volume customers who don't mind the extra transaction procedures.

Header 1Header 1
Operational Since2011
Deposit MethodsVisa and Mastercard debit/credit card, Digital wallet purchases, ACH online banking
Deposit FeesNone
Cryptos ListedBitcoin, Ethereum, Cardano, Dogecoin, Litecoin, Polkadot, Polygon, Ripple
Trading Fees0.25% per trade
Fiat Currencies Supported150+ coins
2. Coinbase
coinbase crypto exchange

Coinbase is one of the few cryptocurrency exchanges that allows customers to withdraw cryptocurrency immediately after purchasing it with fiat currency, rather than waiting several days for the payment transaction to clear. This makes trading DAI really easy in Coinbase. You can complete the purchase and trade in just a few clicks.

Header 1Header 1
Operational SinceJune, 2012
Deposit MethodsPayPal, Debit/Credit Cards, Wire Transfers, Apple/Google Pay
Deposit Fees0
Cryptos Listed170
Trading Fees1%
Fiat Currencies SupportedEUR, USD, GBR
3. Bitfinex
bitfinex crypto exchange

You can buy DAI from Bitfinex if you are looking for platforms with low trading costs. Bitfinex provides its users with a comprehensive knowledge library as well as a ticket-based help center. Its average Trustpilot score indicates that the company is doing an excellent job of keeping the efficiency of operations intact for the users.

Header 1Header 1
Operational SinceDecember, 2012
Deposit MethodsCredit/Debit card, Bank transfer, Cryptocurrency, or Tether tokens
Deposit FeesNone
Cryptos ListedBTC, LEO, USDT, XAUT, and others
Trading Fees0.20% or less
Fiat Currencies Supported170+ coins

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Frequently Asked Questions

Where can you buy Dai with a credit or debit card?

You can easily buy Dai from BitPay using credit/debit cards. Simply enter your credit card information as a payment option within the app and proceed with the transaction.

What will you need to buy Dai?

To buy Dai, you will need to create an account on any one of the crypto exchanges like Bitfinex or Coinbase and then select the right wallet.

What is the easiest way to buy Dai?

The easiest way to buy Dai is to create an account on a platform like Bitfinex or Coinbase and then choose a preferred wallet for your purchase.

Best wallets to store your Dai (DAI)

The best wallet to store your Dai(DAI) is Ledger Nano.

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