How to buy Dai (DAI) online

Dai is an Ethereum-based stablecoin that is pegged to the value of the US Dollar. In this guide, find out how to purchase DAI coins and the considerations you should make before doing so.
By: Charlie Hancox
Charlie Hancox
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player,… read more.
Updated: Mar 29, 2022
Tip: our preferred broker is, eToro: visit & create account

This page contains all of the information you need to know before you invest in Dai. We have provided a step-by-step breakdown of the process of purchasing DAI coins, and have also explored the pros and cons of the project. Read on to get started.

Compare where to buy DAI, and open an account

If you are trying to find somewhere to buy DAI crypto quickly and easily, then look no further than the options we have compiled below. They are some of the best crypto investing platforms available for public use. If you want to learn more before you start investing, scroll down to learn more about Dai.

1
Min. Deposit
$0
Promotion
User Score
10
No Hidden Fees
Instant Trading
Secure & Transparent
Start Trading
Description:
World's longest-standing crypto exchange. Since 2011 Bitstamp has been providing a secure and reliable trading venue to over four million individuals and a range of institutional partners.
Payment Methods
Full regulations list:
2
Min. Deposit
$0
Promotion
User Score
9.3
Earn up to 3.5% back in crypto on every purchase
No hidden fees or minimum balance
Immediate Trade Execution
Start Trading
Description:
BlockFi was created to provide credit services to markets with limited access to simple financial products. BlockFi sets itself apart from other crypto service providers by pairing competitive rates with institutional-quality benefits. BlockFi is the only independent lender with institutional backing from investors that include Valar Ventures, Galaxy Digital, Fidelity, Akuna Capital, SoFi, and Coinbase Ventures.
Payment Methods
Full regulations list:
3
Min. Deposit
$30
Promotion
User Score
8.7
Accepts 70+ cryptocurrencies
Majority of cryptocurrencies are held in a secure Cold Storage
Buy cryptocurrencies instantly with your credit card
Start Trading
Description:
CoinGate is a Lithuanian-based fintech company founded in 2014. The payment gateway offers cryptocurrency payment processing services for businesses of any sizes. Permission-based account management, fiat payouts to the bank account and brand new email billing feature are just a few reasons why CoinGate has become a go-to payment processor for many.
Payment Methods
Full regulations list:

How to buy Dai online – a step-by-step guide

Step 1. Find an exchange

As a popular cryptocurrency, you can get DAI from a wide range of cryptocurrency exchanges. These are essentially giant marketplaces where users can purchase and sell cryptocurrencies for low fees.

Here are two of the best platforms to buy DAI right now:

  • Binance: You can’t go wrong with the world’s most popular cryptocurrency exchange. Creating an account with Binance is quick, easy, and trading fees are low. Get a Binance account >
  • Coinbase: Coinbase is probably the easiest exchange to use. Its clean, simple layout makes it highly accessible for beginners, but it also has the tools that seasoned traders crave. Create an account >

Step 2. Sign up and fund your account

Typically, the best crypto exchanges require users to set up an account before purchasing any coins. To do this, provide a copy of photo ID and fill in the contact details that are requested from you.

Once your account is verified, fund it from an accepted source – this could be a cryptocurrency like Bitcoin from a wallet, or a fiat currency like GBP via a bank transfer.

Step 3. Purchase

Now your account is loaded with funds, you can purchase Dai tokens. Head to the search bar in the interface of your chosen exchange and type in Dai’s ticker, DAI. Then, find the pair that matches up with your account’s funds – for example, if your account is filled with USD, look for the DAI/USD pair. Finally, enter the number of coins you want to purchase, check you are happy with the price and incurred fees, then execute the transaction.

Step 4. (Optional) Get a suitable wallet

If you are planning on holding your tokens for the long term, it might be a good idea to store them in a wallet for safekeeping. Cryptocurrency wallets are like crypto bank accounts, and they keep your coins safe from theft. Below, we have listed two of the best wallets to store DAI:

  • Freewallet: An easy-to-use wallet, Freewallet is one of the most popular options on the market for beginners and experts alike to store their crypto securely. Open a Freewallet now >
  • Infinito Wallet: Infinito’s team have a great reputation for providing excellent crypto experiences, and the Infinito Wallet itself is one of the best wallets we have tested. Create an Infinito wallet >
1
Min. Deposit
$1
Promotion
User Score
10
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Start Trading
Payment Methods:
1Pay, 2C2P, 3d Secure Credit Card, ACH, ANELIK, Abaqoos, AdvCash, AlertPay, Alfa-Click
Algocharge, AliPay, American Express, Apple Pay, AstroPay, BPAY, Bank Link, Bank Transfer, Bank Wire, Baofoo, BitGold, BitPay, Bitcoin, Boleto, Bonds, Borneo Exchanger, Bradesco, CEX.io Mobile App, CFDs, CSS System, CUPS, CartaSi, Carte Bleu, Carte Bleue, Cash, CashU, Cashier Order, Check, Check (UK only), China UinonPay, China Union Pay, China UnionPay, ClickandBuy, Commodities, Contact, Contact Z, Credit Card, Cryptocurrencies, Currencies, DCPay, DIXIPAY, Dankort, Debit Card, Dengi Online, DineroMail, DirectPay, Dotpay, E-dinar, ELV, ENets, EPS, ETFs, EXCARD, Easy2Pay, EcoPayz, Ecommpay, Ecurrencyzone, EgoPay, Emerchant Pay, Eprotections, EstroPay, Ethereum, Euro Bank Account, Euteller, Express Dotpay, Express Polish Post Office 24/7, Express Zabka Market, Ezeebill, Ezybonds, FasaPay, Fastapay, Fastbank, Faster Payments, FilsPay, Forex, GTBank, Gate2Shop, Giropay, GlobalCollect, GlobalPAY, GlobePay, Gluepay, Google Pay, Halcash, I-Account, IPS, Ideal, Indices, Individual US State License(s), Indonesia Exchanger, InstaBill, Instadebit, IntellectMoney, Interswitch, Investmate, Investmate, Itukar, KNET, Klarna, LaoForexBoard, LavaPay, Lion Payment, LiqPay, Litecoin, Lobanet, MOTO, MT4, MT5, Mailing Cash, Market Maker, Masari, Mastercard, MegaTransfer, Mister Cash, Mobile Trading App, Mobile Trading Platform, Moneta, Money Bookers, Money Order, MoneyBookers, MoneyGram, MoneyPolo, Multibanco, NETBANX, Nab, Namecoin, Neosurf, NetPay, OKPAY, OMT, OmahPoin, OnPay.ru, Online Naira, OrangePay, PAYSEC, POLi, POLi & BPay, PYEER, PagoEfectivo, Paxum, Pay Nova, PayCo, PayPal, PayRetailers, PayWeb, Payeer, Payoneer, Payonline, Payvision, Payza, Perfect Money, PocketMoni, Postbank, Powercash 21, Prepaid MasterCard, Prepaid MasterCard (I-Account), Prepaid MasterCard (Intercash), Prepaid MasterCard (Payoneer), Privat 24, Przelewy24, QIWI, RBK Money, Rapid Transfer, RegularPay, SEPA, Safecharge, SafetyPay, SahibExchange, Shilling, SmartPay, Sofort, SolidTrust Pay, SorexPay, Sporopay, Stock Certificate, Stocks, Swish, Teleingreso, Thailand Exchanger, Ticketsurf, Todito Cash, Trade Interceptor, Transact Europe Payment, Trazus, TrustPay, Trustly, UAE Exchange, UPayCard, USD, Ukash, Unet, UnionPay, Unistream, Uphold, Verve, Vietnam Exchanger, Visa, VixiPay, VoguePay, Vouchers, Wallet One, WeChat, Web Based Trading Platform, WebMoney, WebPay, Webtrader, Western Union, Wire Transfer, Wirecard, Yandex, Yandex Money, Yemadai, YuuPay, Z-Payment, Zenith, cTrader, dinpay, eCard, eCheck, eKonto, ePay bg, ePayments Transfer, eToro Mobile Trading Platform, eToro Trading Platform, eTranzact, iPay, mPay, neteller, paysafecard, postepay, skrill, unichange.me
Full Regulations:

How to trade DAI – a step-by-step guide

Step 1. Find a broker

To trade DAI, you need to sign up to a broker – this is because you will be frequently opening and closing positions to take advantage of small price fluctuations, and brokers are the most affordable way of accomplishing this.

While Dai has cemented its status as one of the top crypto projects, it is yet to have been picked up by a broker. It is likely that if it ever becomes supported, it will be by one of the major brokers like eToro or Plus500. Be sure to bookmark this page and check back periodically for updates.

Step 2. Deposit money

Just like with an exchange, you need to fund your broker account before you trade. Brokers typically accept many forms of fiat currency, such as GBP, EUR and USD. In addition, a small number accept cryptocurrency deposits in the form of Bitcoin.

Step 3. Learn how to perform technical analysis

At the heart of any successful trading strategy is robust technical analysis. This is the process of reading price charts to detect trends and make predictions. If you want to learn how to conduct technical analysis, make sure you check out our short-term trading course for a thorough overview.

Step 4. Decide whether to go long or short

You can either go long or short when trading Dai. Going long means you believe the coin will rise in value, whereas going short means you believe it will fall in value. It is crucial that you familiarise yourself with this terminology and these concepts before you start trading.

Step 5. Make the trade

Now you have completed the previous four steps, you can start trading Dai. As a stablecoin, Dai will only fluctuate slightly around the $1 mark due to changes in cryptocurrency prices and supply-demand mechanics. Due to this lack of volatility, trading Dai isn’t something people typically do.

1
Min. Deposit
$10
Promotion
User Score
10
Accepts customers from the USA
Deposit $100 and get a $10 bonus!* Build a diversified portfolio with crypto, stocks, and ETFs — all in one place.
Trade on the world's leading social trading and investing platform
Start Trading
Description:
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA

Should I invest in Dai?

That really depends on what you are looking for from your investment. If you are looking for substantial growth, Dai is a stablecoin, and large price changes go against its very purpose. As a result, you may be better off considering other growth-oriented altcoins for your portfolio.

However, if you are looking to park your investments during times of economic volatility, Dai could be ideal. While other crypto prices can rise and fall dramatically, a stablecoin like DAI will provide a robust consistency to your portfolio.

Dai can also be useful as an intermediary between cryptocurrencies and fiat currency. Investing in Dai can be a fast and easy way to get involved in decentralised finance (DeFi). In addition, stablecoins are substantially better for everyday transactions – If you were to pay for a cup of coffee with Bitcoin, the price would have changed before you went to pay, whereas stablecoins provide permanent value.

Still undecided?

Here is a summary of the pros and cons of Dai, followed by some key questions to think about.

Pros

  • Price stability can reinforce your portfolio
  • A simple concept that is easy to understand
  • Based on one of the largest blockchains, Ethereum
  • Good for everyday transactions
  • Multi-collateralised by several cryptocurrencies
  • Holders of Dai can earn savings via the DAI Savings Rate

Cons

If you still aren’t sure about investing in Dai, here are 3 important questions.

1.) Is now a good time to buy Dai?

Given that Dai fluctuates only slightly in price, the factors behind this question relate to the economy. Essentially, during a bear market, a stablecoin like Dai can be a great avenue to park your investments and protect your capital from plunging prices.

However, in the event of a bull market, altcoins that aren’t stablecoins could likely be rising in value at a rapid rate. So, if prices are rising, Dai isn’t necessarily the best investment available to you, whereas, when prices fall, it could be ideal.

Make sure you stay up-to-date on all things Dai by clicking on any of our latest pieces of analysis below:

2.) What problem does Dai solve, and what are its investment prospects?

Dai is designed to provide a decentralised unit of exchange to cryptocurrency users. Its multi-collateralised nature makes it more stable and reliable than competitors, and it also means users are also able to earn capital by holding tokens.

In terms of investment prospects, Dai tracks the US Dollar, so its performance is directly correlated. This means that when the US economy is booming, Dai will be worth more, but when the economy is in freefall, Dai will be worth less.

Be sure to read our new team’s latest articles on the Dai cryptocurrency by clicking on any of the links below:

Decentralized platform Warp Finance has suffered a major hack, as the newly launched company loses $7.7million worth of DAI and USDC stablecoins. The hacker withdrew the said amount from the platform using a flash credit scheme. The loan scheme allows the users to get short-term loans without collateral as…
The MakerDAO Governance Facilitator has introduced a governance poll on behalf of the Maker Governance community to improve community engagement. A blog post unveiled this news on December 7, noting that the organization seeks to offer the community a chance to show their support or objection to parameter changes and…
MakerDAO’s Dai, an Ethereum-based decentralized stablecoin, has just become the third-largest stablecoin by market cap, bested only by USD Coin (USDC) in the second spot, and Tether (USDT) itself. The coin has hit a $1 billion supply for the first time since its creation. The biggest decentralized…

3) Do you want to hold Dai for the long term?

You can either purchase Dai and hold it in a wallet for the long term, or trade it in the short term. Below, we have outlined the separate considerations you should make for each of these strategies.

Considerations for a long term investment strategy

If you are looking to get DAI and hold it for a prolonged period of time, locate a reliable cryptocurrency exchange – this is the easiest way of purchasing coins. Then, to keep your new crypto investment safe, you may want to think about opening a wallet and transferring your coins over from your exchange account.

Considerations for a short term trading strategy

If trading Dai is more what you are thinking about, find a broker with low fees and sign up. Then, figure out what trading strategy you want to pursue based on technical analysis.


Fact-checking & references

Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.

Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

Charlie Hancox
Financial writer
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player, and as a budding film director, has… read more.