Where & How to Buy Dai (DAI) for Beginners in 2025

Use our step-by-step guide to learn how and where to buy Dai on 5+ highly rated crypto platforms.
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Updated on Oct 10, 2024
Reading time 3 minutes

Dai coins are available buy via a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Dai this way. Follow our quick step guide below.

How to buy Dai quickly in 3 steps

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To buy Dai you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.

Step 1. Sign up to a crypto platform

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Sign up to one of the best crypto platforms to start trading. Alternatively, there are several other options to select from below. Anyway, create an account and supply a copy of your photo ID for verification.

We found 7 crypto platforms for users based in

Coinbase review
4.2
Coinbase
Min. Deposit $10
Fees Up to 0.6%
No. assets 150+
Demo account No

Coinbase review

Kraken review
4.0
Kraken
Min. Deposit $10
Fees 0.10% – 0.26%
No. assets 200+
Demo account Yes

Kraken review

Paybis review
4.4
Paybis
Min. Deposit $4
Fees Variable
No. assets 90+
Demo account No

Paybis review

Step 2. Make a deposit

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Add funds via a card payment, bank transfer or an alternative payment method. You can start with as little as $100 on most services.

Step 3. Buy Dai token

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Locate the search box and type DAI. Once you locate the coin trading page, enter how much money you want to spend and hit ‘trade now’.

Now you own Dai tokens! Not a big deal, right?

Where to buy DAI easily

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The overall best platform to buy Dai for beginners is Coinbase .

Here are the top five places to buy Dai, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.

  1. Coinbase: Best secure trading platform for all types of trader
  2. Kraken: Best for simple, global cryptocurrency trading from your phone
  3. Paybis: Best crypto platform for choice of payment methods
  4. Nexo: Best for earning interest & rewards

Read more about how we rate, rank and review platforms.

Best exchanges to buy Dai (DAI), reviewed

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We found 7 crypto platforms for users based in

1. Coinbase. Best secure trading platform for all types of trader

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4
Ratings

$10

Min. deposit

Up to 0.6%

Fees

200

No. assets

No

Demo account

Overview

We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.

Coinbase’s user-friendly platform simplifies the buying, selling, and trading processes, making it one of the top crypto exchanges for all levels of trader. But, Coinbase isn’t just an easy to use platform, it’s one of the safest and most secure. 

A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. It stores 98% of customer assets offline in cold storage, minimizing the risk of theft. There is also insurance on all cash balances up to $250,000

The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.

Highlights

Fees & Costs

Pros & Cons

2. Kraken: Best for simple, global cryptocurrency trading from your phone

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4
Ratings

$10

Min. deposit

0.10% – 0.26% (volume dependent)

Fees

200

No. assets

Yes

Demo account

Overview

We love Kraken because it’s a beginner-friendly crypto trading platform, one that’s designed to make it quick and convenient to buy and sell crypto on the go. The Kraken mobile app provides access to over 200 cryptocurrencies making it one of the most diverse platforms around. 

With an intuitive interface and many advanced features, the Kraken crypto app is suitable for those just starting, or experienced traders wanting to enhance their trading experience. The Kraken mobile app caters to different trading styles and preferences with spot, margin, and futures all available. 

Kraken’s mobile app also supports up to 5:1 leverage allowing you to amplify your position and potentially increase your returns. With such a wide selection of tokens available and a solid range of features and tools, the Kraken app is one of the top cryptocurrency trading platforms while on the go. 

The fees: Kraken charges a fee of between 0-0.26% on every crypto trade. There are no costs to set up an account and no flat trading fees.

Highlights

Fees & Costs

Pros & Cons

3. Paybis. Best crypto platform for choice of payment methods

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Paybis_logo
4
Ratings

$4

Min. deposit

Variable

Fees

90

No. assets

No

Demo account

Overview

We love Paybis because it is one of the simplest crypto platforms to use, making it ideal for both beginners and experienced traders. The intuitive interface makes the process of buying and selling cryptocurrencies smooth, fast, and hassle-free. 

Paybis offers a good selection of coins to buy and sell including popular options like Bitcoin and Ethereum, as well as many altcoins. With such a wide range of tokens, you’ll be able to diversify your portfolio and take advantage of market opportunities very quickly. 

One of the best features of Paybis is its selection of payment options. Not only can you buy Bitcoin with a credit or debit card using USD, but you can also choose from several payment apps and digital wallets. 

The fees: How much you will pay will depend on the payment option you use. Paybis provides detailed information on the types of fees applied. You can expect competitive rates, with clear outlines of transaction and network fees, before buying or selling.

Highlights

Fees & Costs

Pros & Cons

4. Nexo. Best for earning interest & rewards

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4
Ratings

$-

Min. deposit

Fees

No. assets

No

Demo account

Overview

We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.

You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest. 

The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee. 

Highlights

Pros & Cons

How to trade DAI

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You can trade Dai on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how DAI crypto trading works:

  1. Monitor the price: For simplicity, let’s say the price of DAI/USDT is $1. You read the price charts and decide that now is a good time to start purchasing DAI.
  2. Open a trade: You trade one USDT for one DAI ($1 USD for 1 DAI).
  3. Continue to monitor the price: The following month, one DAI token is now worth $2, a 100% increase.
  4. Close your trade: You trade your DAI token back to USDT for $2.

In this example, you buy and sell Dai, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend countless hours learning to trade, reading charts, technical patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.

What is the best way to pay for Dai (DAI)?

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The simplest way to buy Dai cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for DAI.

  • Buy Dai with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
  • Buy Dai with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a $1 fee, and these transactions are more or less instant as they run through the Automated Clearing House (ACH) in the US, Faster Payments System (FPS) in the UK, or Single Euro Payments Area (SEPA) in Europe.
  • Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.

How do I store Dai (DAI)?

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Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Dai then you should move it to a crypto wallet.

A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Dai wallets to use are MetaMask and the Ledger Nano S.

Is now a good time to buy Dai?

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The answer depends on the current price and your own investment goals. Put simply, buying Dai, selling Dai, and trading DAI are all the exact same process in literal terms. It’s really just your personal investing intentions that defines whether ‘now’ is a good time to invest or not.

  • If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #HODL a coin long term in the hopes of larger profits. In this sense, any time is a good time to trade Dai.
  • As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of DAI, then a good time to purchase Dai is on any major dip.

In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Dai and selling it the next day probably isn’t why you’re here either.

How has Dai (DAI) performed this year?

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The current Dai price today is $1.00, which is -72.74% versus its all time high of $3.67, which it reached on 16 November 2021. DAI is -0.01% this year, with a 52 week high of $1.01 and a 52 week low of $1.00. 

Regardless, closely following Dai price news & analysis will help you decide when to pull the trigger.

Is Dai (DAI) a good investment?

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Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Dai and its token to help you decide whether to invest in DAI.

  • Dai is a stablecoin which means it will never increase in value. Dai is ‘pegged’ to the US Dollar, which means one Dai should always be worth $1. The idea is that you can use it to buy things and trust that your Dai will maintain its value, unlike other cryptocurrencies which can experience large swings in price.
  • It’s a store of value or an intermediary to swap between coins. Most people use stablecoins for transactions; which at the moment usually means to buy other cryptocurrencies. It’s not the sort of coin you buy to generate 10x returns.
  • Dai is an investment in the MakerDAO financial system. MakerDAO is the organisation behind Dai. It’s a competitor to Tether (USDT), the largest and best-known stablecoin. A variety of apps are built on MakerDAO and accept transactions using DAI.
  • Dai is backed by crypto collateral. A stablecoin must be backed by enough assets that people trust one coin will always be worth $1. Tether does this by holding a combination of actual US Dollars and dollar debt. Dai, in contrast, uses other cryptocurrencies as collateral.
  • Dai is built on Ethereum. Not only is the platform built on the Ethereum blockchain, but the ETH cryptocurrency plays a crucial role in how the system works. You have to deposit ETH in order to generate DAI, and then Ethereum plays the role of collateral. This means Ethereum’s price performance is very important in maintaining Dai’s $1 peg.
  • You can earn DAI staking rewards on coins you hold. A feature of the MakerDAO platform is that you can take out loans in DAI, or you can store it to earn extra rewards, which are like interest payments. Essentially, the rewards incentivise you to store Dai, which can then be loaned out to other people, a little like how a bank operates.

Pros

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  • Dai is a stablecoin with a fixed value that can be used to buy things
  • It’s tightly linked to Ethereum and uses the Ethereum blockchain
  • Dai is an alternative to Tether

Cons

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Ultimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.

FAQs

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01

Where can I buy Dai (DAI)?

02

What do I need to buy DAI?

03

Is Dai on Coinbase?

04

Is Dai on Binance?

05

Is Dai on eToro?

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What is the best wallet to store DAI?


Sources & references

James Knight

James Knight

Editor of Education

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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets. His main focus is on improving financial literacy among casual investors. He has been with Invezz since the start of 2021 and has been...