What is Dai crypto? How to buy dai crypto?

DAI is an open source software cryptocurrency (Maker Protocol) application that is decentralized which runs on the Ethereum blockchain, it is a stable crypto that tries to maintain the value with parity to the US dollar, through the Blocking other crypto assets in the contracts, DAI differs from the rest of the crypto that are backed by assets which are issued by for-profit companies.

DAI maintains its value by using a collateralized debt called ether the Ethereum coin. Through smart contracts which run on Ethereum, the Marker Protocol allows the owner to block ETH and other crypto assets in order to generate new DAI tokens on loan.

This stablecoin maintains its stability in its value by being backed by another crypto, which is managed through a loan method in the Ethereum cryptocurrency network, to create DAI, a user must deposit the balance of Ether available to a position of secured debt (CDP) that works as a kind of smart vault which contains your Ether. DAI is generated on behalf of Ethereum.

For a user to recover the blocked ETH, he must return the DAI to the marker protocol and therefore must make a payment of a fee. smart contracts will take it as collateral and then proceed to sell through an auction system that is based on the domestic market. This if the owner makes a liquidation.

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How does DAI work?

DAI is a cryptoactive that has a guarantee through other crypto, if a user wants to acquire it, they can sell their ETH to make the purchase of DAI the amount they want equivalent in dollars, or if they prefer they can make an exchange using the Maker Protocol.

Secured Debt Positions (CDP)

y are smart contracts that exist in the Maker Protocol, by which a user can generate DAI. That is, it locks your collateral assets ETH or BAT and generates the DAI.

CDP smart contract works as a kind of vault to store the guarantee mentioned above, the volatility of the cryptographic guarantee must be taken into account, DAI is over-guaranteed, this means that if you make a deposit the amount will be higher than the value of DAI

A user must pay $ 300 in ETH to be able to receive $ 200 DAI, in the event that the value of ETH depreciates for example by 25%, the $ 200 in DAI will be safe for a value of $ 250 in ETH. In order for a user to be able to retrieve the ETH that is stored, they will need to return the DAI to the protocol and pay a fee.

How to buy Dai Crypto?

Dai crypto can be bought from many exchanges but the most recommended are the following since you can pay with a debit or credit card:

Binance; You enter, register, verify the account and you can now operate. Enter now

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