DAI is a decentralized stablecoin that aims to maintain a price of $1 per token. Unlike traditional stablecoins backed by fiat in a bank account, DAI is created through smart contracts on the Ethereum blockchain using collateralized crypto assets. It’s governed by MakerDAO, a decentralized autonomous organization that oversees risk management and upgrades.

How does DAI stay pegged to the U.S. dollar?

DAI maintains its 1:1 peg through overcollateralization and automated incentives built into the Maker Protocol. Users must deposit more crypto than the amount of DAI they mint, and the system includes mechanisms like the Peg Stability Module (PSM) and stability fees to help keep the price close to $1. If market forces cause DAI to drift from its peg, arbitrage and protocol rules work together to bring it back into balance.

Yes, DAI is considered one of the most secure and transparent stablecoins in the crypto space. All issuance and collateral are managed by Ethereum smart contracts and can be publicly audited. There’s no central entity holding your money. However, users should still be aware of risks such as extreme market volatility, smart contract bugs, or governance flaws in the Maker ecosystem.

How is DAI different from USDT or USDC?

DAI is fully decentralized, meaning it isn’t backed by traditional bank reserves or controlled by a single company. In contrast, USDT (Tether) and USDC (Circle) are centralized stablecoins backed by fiat currency held in custodial bank accounts. DAI’s value is secured by on-chain crypto collateral, and its supply is governed by MakerDAO community members through blockchain-based voting.

Where can I use or spend DAI?

DAI can be used almost anywhere in the Ethereum and broader Web3 ecosystem. You can lend or borrow it on DeFi platforms, trade for it on exchanges like Phemex, access ways to buy DAI on Phemex, use it as payment in supported dApps or for cross-border transfers, and store it in DeFi wallets for savings or liquidity farming. Because it's an ERC-20 token, DAI is compatible with most major wallets and DeFi applications.

Can I earn yield with DAI?

Yes, many users earn interest or yield on their DAI by depositing it into DeFi protocols. The returns vary depending on market demand and platform, but DAI remains a popular asset for passive income strategies in the crypto world.

How to Buy Dai (DAI) Guide

How to Buy Dai (DAI) on Phemex

Buy Dai (DAI) effortlessly on Phemex, the most efficient crypto exchange trusted by millions. Enjoy secure, instant purchases with flexible payment methods, including credit cards, bank transfers, third-party providers and P2P trading, accessible worldwide. Phemex’s intuitive platform and robust security make buying DAI seamless. Kickstart your cryptocurrency journey today—buy Dai securely and confidently on Phemex.

Price of Dai

$0.999886 +0.01%

Where can I Buy Dai (DAI)?

Discover where to buy Dai (DAI) on Phemex, a secure cryptocurrency exchange trusted worldwide. These three easy steps let you buy DAI with low fees using credit cards, debit cards, bank transfers, or third-party providers—no minimums, no hassle. With two-factor authentication (2FA), proof-of-reserves audits, and anti-phishing protection, Phemex is the safest place to buy Bitcoin and the best place to buy Bitcoin online.

Step 1. Set Up a Secure Account

Sign up on Phemex in moments with your email to start trading Dai (DAI) globally. Complete quick identity verification to unlock instant purchases. Phemex’s secure registration, backed by 2FA and proof-of-reserves audits, keeps your account safe from the start, making it a trusted cryptocurrency exchange.

Step 2. Choose a payment method

Choose payment options like credit cards, debit cards, bank transfers, or third-party providers for instant processing. Select your fiat currency and (DAI), and enter the amount to spend. Click “Buy” to proceed with ultra low fees. Phemex’s secure platform, backed by 2FA, ensures the fastest way to buy Dai with peace of mind.

Credit/Debit Card

Support:

Currencies 30+

Lowest Fee 0.8%

Arrival Instant

Best For First purchase/Small Amounts

Buy with Credit/Debit Card

Step 3. Buy and Store Dai (DAI) Safely

Confirm your order details and complete payment to buy Dai DAI instantly. Your (DAI) will be credited to Phemex’s high-security wallet, protected by advanced encryption, within 1 hour or after third-party processing. Buy DAI safely and start trading or holding your DAI today with the best place to buy DAI online.