How to buy DAI?

DAI is one of the thousands of tokens supported by LetsExchange. You can purchase DAI directly with 5,000+ other coins and tokens on the platform. 

On our platform, you can buy DAI with almost no upper limits. No account registration is required. However, registering an account gives you access to tools that help to manage your investment activities and our affiliate program. 

What is DAI?

DAI, an Ethereum-based stablecoin, is issued and developed by the Maker Protocol and MakerDAO, a decentralized autonomous organization. Its price is soft-pegged to the U.S. dollar, backed by a mix of cryptocurrencies held in smart-contract vaults whenever a new DAI is minted.

How to buy DAI on LetsExchange: a step-by-step guide

On LetsExchange, you can swap any of the supported 5,000+ crypto assets to DAI quickly and smoothly. 

To proceed with the swap, follow these steps. 

Select the coin to exchange for DAI in the You Send field in the exchange widget. We will swap Bitcoin, but you can choose any of the 5,000+ supported assets.  

Provide the number of coins you want to swap. In our example, we will be swapping 0.1 BTC.  

Choose the exchange rate type: fixed or market.

If you pick a fixed rate, you will receive the amount specified on the You Get screen. With a fixed rate, you can use a promo code. If you don’t have a promo code but want one, follow us on our social networks. The platform organizes many activities there; you can earn monetary rewards and get promo codes by participating.

If you pick a market rate, the sum you receive may differ from the sum initially displayed in the widget. LetsExchange will select the best rate among multiple liquidity providers, and the swap will be completed at that rate. 

We pick a fixed rate because, with it, you can receive cashback by entering a promo code.

In the You Get window, pick DAI.

Now, the picked coin will be displayed in the You Get field. The sum that you will get will be calculated automatically.

Please note that the asset is supported by several blockchains, make sure you pick the right blockchain.

If you have a promo code, type it in. You will get cashback. If you don’t have a promo code but want to get one, follow us on social media for updates - from time to time, we organize some events for our users to reward them with promo codes and other valuable rewards. 

Click on the Swap option.

Now, the widget will display a window where you will be asked to enter your receiving wallet address. The swapped coins will be sent there.

You can also fill out the refund address. If the swap doesn’t go as expected, your coins will be refunded there. 

Finally, you can provide a valid email to receive updates about the progress of the swap.

Recheck the data and hit the Apply button. 

You will be displayed a deposit wallet address to which you must send your coins. After you do so, the coins will be swapped, and your DAI tokens will be sent to the receiving wallet address you’ve provided.

After completing the transaction, you can download the receipt with all the transaction details. You can also track your transaction at any stage by copy-pasting its number on the Transaction status page.

Conclusion

A key advantage of DAI is its management by a decentralized autonomous organization through a software protocol, not a private company. This setup ensures that all token issuance and burning are managed and transparently recorded by self-enforcing smart contracts on Ethereum, making the system more transparent and less vulnerable to corruption. 

Now, you can buy DAI on LetsExchange with over 5,000 supported coins and tokens safely and smoothly.