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DAI Price Real-Time Data
Currently, the real-time price of DAI is $0.99 with a 24-hour trading volume of $382.15M. Our data on the DAI to USD exchange rate is refreshed instantaneously. Its 24-hour peak price is $1.0011, its 24-hour low is $0.9975. DAI is one of the leading stablecoins. There are 5.35B DAI coins in circulation, and the maximum supply data is presently not specified.
DAI is a stablecoin cryptocurrency that aims to keep its value as close to one United States dollar (USD) as possible through an automated system of smart contracts on the Ethereum blockchain. DAI is maintained and regulated by the MakerDAO, a decentralized autonomous organization composed of the owners of its governance token, MKR.
History of DAI
DAI was launched in December 2017 by MakerDAO. It was one of the first decentralized stablecoins on the Ethereum blockchain. The platform and coin were created to offer a stable and decentralized digital currency that does not have the same volatility as other cryptocurrencies.
How DAI Works
DAI maintains its peg to the USD through a system of collateralized debt positions (CDPs), autonomous feedback mechanisms, and appropriately incentivized external actors. When users want to generate DAI, they deposit collateral (such as ETH) into a smart contract and receive DAI in return. This DAI can then be used as any other cryptocurrency for transactions or as a stable value store. The system is designed to be self-balancing, and when the market price of DAI deviates from $1, mechanisms such as interest rates and governance decisions are used to bring it back into line.
Who Created DAI
DAI was created by MakerDAO, which was founded by Rune Christensen. MakerDAO is a project within the Ethereum ecosystem and represents a decentralized community of MKR token holders, developers, and others who participate in the decision-making process of the Maker Protocol and DAI.
Is DAI a Good Investment?
As a stablecoin, DAI is not designed as an investment that grows in value over time; rather, it is meant to be a stable store of value. Its value is meant to be pegged closely to the USD, so rather than expecting capital gains, users holding DAI seek stability amidst the volatility typically associated with the cryptocurrency market. However, DAI can be used in various DeFi protocols to earn interest or as part of investment strategies. Like any financial decision, whether DAI is a good investment for you will depend on your individual financial goals, risk tolerance, and investment strategy. Always conduct thorough research and consider seeking financial advice before investing in any cryptocurrency.
Learn more about DAI (DAI)
What is DAI?
DAI is a stablecoin cryptocurrency that aims to keep its value as close to one United States dollar (USD) as possible through an automated system of smart contracts on the Ethereum blockchain. DAI is maintained and regulated by the MakerDAO.
How does DAI work?
DAI works by using a system of collateralized debt positions (CDPs), autonomous feedback mechanisms, and appropriately incentivized external actors. Users lock up collateral in the form of other cryptocurrencies (like Ethereum) and can then generate DAI against that collateral.
Is DAI safe to invest in?
As with any cryptocurrency investment, there are risks involved. However, as a stablecoin, DAI is designed to be less volatile compared to other cryptocurrencies. That said, the smart contracts that run DAI have been audited and are considered secure, but the overall safety also depends on the security of the underlying blockchain (Ethereum).
Can DAI be exchanged for real money?
Yes, DAI can be exchanged for real money. It is traded on various cryptocurrency exchanges where you can exchange it for fiat currencies or other cryptocurrencies.
How do I buy DAI on SLEX Exchange?
To buy DAI on SLEX Exchange, you would typically create an account, complete any necessary KYC (Know Your Customer) procedures, deposit funds or a supported cryptocurrency, and then place an order to buy DAI either at market rates or at a specified limit price.
How can I store my DAI coin securely after purchasing on SLEX?
After purchasing DAI, it's recommended to store it in a secure wallet. You can choose a hardware wallet for the highest security, a software wallet for convenience, or a mobile wallet for accessibility. Always ensure your private keys are kept safe and never share them.
What determines the price of 1 DAI in fiat currencies on SLEX?
The price of 1 DAI in fiat currencies on SLEX is determined by supply and demand dynamics within the exchange. It's influenced by the balance of buy and sell orders, overall market conditions, and liquidity on the platform.
What advantages does SLEX offer for DAI to fiat currency conversion without account registration?
If SLEX offers DAI to fiat currency conversion without account registration, advantages might include anonymity, speed, and convenience. However, there would typically be limits to transaction size and potentially higher fees to compensate for the increased risk the exchange takes on.
How can I track the today price of 1 DAI on SLEX for investment purposes?
To track the current price of DAI on SLEX, you can view live price charts on the exchange, utilize price-tracking websites, or use mobile apps that provide real-time prices and alerts.
How does SLEX ensure the best rates for DAI to fiat currency conversions?
SLEX might ensure the best rates for DAI to fiat conversions by aggregating prices from multiple liquidity providers, implementing a robust matching engine, or offering a low spread. The specifics would depend on SLEX's business model and partnerships.
What limits apply to purchasing DAI on SLEX with a credit card without verification?
Limits for unverified purchases with a credit card are typically set by exchanges to minimize the risk of fraud. These limits can vary, and you would need to check SLEX's specific terms and conditions to find detailed information.
How does SLEX ensure the most current exchange rate for DAI is displayed?
Most exchanges, including SLEX, connect to a number of market data providers and use proprietary algorithms to calculate and display the most current exchange rates based on real-time market activity.
How Much Will DAI Be Worth in the Future?
Predicting the future value of DAI is challenging since it is a stablecoin pegged to the USD. Its worth is intended to remain at or around $1. However, fluctuations can occur due to market conditions, but the mechanisms within MakerDAO work to correct these and maintain its peg to the USD.