Buy Dai (DAI) in Canada

Buy Dai in 3 easy steps with 0% CAD funding and 0% CAD withdrawal fees.

Buy Dai

Buy Bitcoin > Cryptocurrency > Buy Dai (DAI)

1. Create an account

Just like the cryptocurrency markets, we are available 24/7. Sign up on the web, or download our app on the Play or App Store. Get started today!

2. Get verified

After you sign up you will need to verify your account.

We are required by law to ask you for some verification questions such as your name and address.

Over 90% of our members get instantaneously verified, allowing them to fund and trade right away!

3. Buy Dai (DAI)

You can buy DAI right away at the best rates and fund your account with an e-Transfer or wire and buy when the price is just right!

Get started with as little as $50 CAD.

Buy Dai

Dai is an algorithmic stablecoin created by MakerDAO, that allows for permissionless trading, borrowing and lending of crypto assets.

What is Dai (DAI)?

Dai (DAI) is an ERC20-derived stablecoin. Dai was launched in 2017 by MakerDAO. Unlike other stablecoins that are directly pegged to a fiat currency, DAI uses a bundle of different cryptocurrencies for collateral. Every time a loan is taken out from the MakerDAO system, new DAI tokens are created and can be used as any other ERC-20 based token and transferred to a wallet.

How does it work?

Dai works by using smart contracts called Collateralized Deb Positions (CDPs) that allow users to lock in crypto assets that can then be lent out. DAI is overcollateralized to mitigate the volatility in crypto prices, i.e., the deposit amount required is usually higher than the value of the DAI issued.

What makes it stand out?

DAI’s algorithmic TRFM smart contract system to maintain its peg is unique among stablecoins. When the price of DAI fluctuates too far from USD 1 USD, its smart contracts burn or create more MKR tokens to stabilize the price of DAI. So far, DAI has successfully maintained its parity to the US Dollar for three years with only minor fluctuations.

Invest in Dai (DAI)
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