Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong.
Why do investors buy Maker (MKR)? As the market , investors are seeking opportunities beyond the usual suspects. Enter Maker (MKR), a decentralised finance (DeFi) gem that is worth looking into.
Maker is the backbone of the Dai stablecoin, which is soft-pegged to the US dollar. It stays at around $1 using smart contracts. As a MKR holder, you can participate in the governance of the MakerDAO ecosystem.
When Dai deviates from the US$1 value, MKR holders can vote on adjustments to “stability fees” (Collateral Asset Stability Fees are in essence fees that are used to ensure alignment to the value between DAI and the USD) or other mechanisms to bring it back in line.*
MKR plays a crucial role in managing CDPs. These allow users to lock up collateral (usually Ethereum) and mint Dai. MKR holders vote on critical decisions related to CDP management.
MKR’s scarcity and utility make it attractive to some investors. As the DeFi space , demand for Maker’s services increases, potentially driving up MKR’s value.
MakerDAO its ecosystem, making MKR a forward-thinking investment.
There is an active community of DeFi enthusiasts who believe in Maker’s mission. This makes it a fun crypto to be involved with.
MKR acts as a buffer against system losses. In extreme scenarios where the value of collateral drops significantly, MKR is auctioned to cover the deficit,ensure the peg to $1 USD and ensures the maintenance of the Maker system.
MKR holders are rewarded with Dai rewards for participating in governance. This encourages active involvement and ensures alignment with the platform’s long-term success.
By holding MKR, you could contribute to the growth and innovation of decentralised finance.
Before diving in, select a reputable exchange like CoinJar. CoinJar offers a user-friendly interface, robust protection, and seamless transactions.
Sign up on CoinJar if you haven’t already. Verify your identity and set up two-factor authentication (2FA) for added protection.
UK residents are required to do an assessment and then wait 24 hours (see below).
Deposit funds into your CoinJar account. You can use fiat currency (AUD, USD, EUR, GBP, etc.) or other cryptocurrencies (like Bitcoin or Ethereum).
Search for MKR within CoinJar’s trading platform. You’ll find it listed alongside other top cryptocurrencies.
Decide on the amount of MKR you want to buy. Click the “Buy” button, review the transaction details, and confirm. Voilà! You’re now a MKR holder!
As the DeFi space grows and more people understand it, Maker (MKR) becomes more interesting for its consistency and innovation.
Maker (MKR) is a governance token associated with the Maker Protocol, a decentralised finance (DeFi) platform built on the Ethereum blockchain.
MKR holders actively participate in decision-making related to the stability and management of the Dai stablecoin.
MKR serves as a crucial component of the MakerDAO ecosystem, allowing you to engage in governance and influence the protocol’s direction.
As a long-term investment, MKR offers exposure to the growing DeFi space and the adoption of digital currencies.
CoinJar provides a seamless experience for buying MKR with AUD. Simply create an account, deposit AUD, and navigate to MKR.
The DSR is the interest rate earned by holding Dai in a Dai Savings Contract. MKR holders vote on adjusting this rate to maintain the stability of Dai.
Absolutely! CoinJar allows you to both buy and sell MKR.
Smart contracts underpin the entire Maker ecosystem. They manage CDPs, stability fees, and other essential functions.
After buying MKR on CoinJar, consider these storage options:
CoinJar Wallet: CoinJar provides its own wallet service. It is convenient, however being an online wallet there is a risk that it may be a victim of a cyberattack. Online wallets are also called “hot wallets”.
External Wallets: If you want to hold on to your Bitcoin for a while, you can transfer your Bitcoin to an external wallet. Hardware wallets are also known as “cold wallets” (like Ledger or Trezor) and these are effective for long-term storage as they are offline and seriously difficult to hack.
CoinJar has been operating since 2013. CoinJar keep the vast majority of customer assets in cold storage or and maintain full currency reserves at all times.
.
While all investments carry risks, MKR’s utility and governance features make it an attractive choice for those interested in DeFi and digital assets.
Yes! CoinJar allows you to trade Maker for other cryptocurrencies. Explore the available options within the exchange.
Visit the official website and stay informed about updates, community discussions, and project developments.
The DSR is the interest rate earned by holding Dai in a Dai Savings Contract. MKR holders vote on adjusting this rate to maintain the stability of Dai.
Smart contracts underpin the entire Maker ecosystem. They manage CDPs, stability fees, and other essential functions.
The of MKR is 1,005,577 coins. It is an ERC-20 token built on the Ethereum blockchain and cannot be mined directly.
MakerDAO is a decentralised autonomous organisation (DAO) that enables users to lend and borrow cryptocurrencies without intermediaries. It issues two main cryptocurrencies.
DAI: A stablecoin pegged to the US dollar, collateralized by other cryptocurrencies.
MKR: The governance token that supports DAI’s stability and allows holders to participate in decision-making within the MakerDAO ecosystem.
In the context of trading, “maker” and “taker” refer to different roles.
Maker: Places limit orders on the order books, providing liquidity to the market.
Taker: Executes market orders by buying or selling immediately from existing orders on the books.
Makers are rewarded with lower fees for providing liquidity, while takers pay higher fees.
No, MKR cannot be mined. Its supply is determined by market dynamics related to DAI stability.
DeFi apps use various cryptocurrencies as collateral, including Ethereum (ETH), Wrapped Bitcoin (WBTC), and other ERC-20 tokens.
Users lock up their collateral assets to generate stablecoins like DAI, which can be borrowed or lent within the DeFi ecosystem.
Yes, MakerDAO is built on the Ethereum blockchain. Both DAI and MKR operate within the Ethereum ecosystem.
Cryptoassets traded on CoinJar UK Limited are largely unregulated in the UK, and you are unable to access the Financial Service Compensation Scheme or the Financial Ombudsman Service. We use third party banking, safekeeping and payment providers, and the failure of any of these providers could also lead to a loss of your assets. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets. Capital Gains Tax may be payable on profits. CoinJar’s digital currency exchange services are operated in the UK by CoinJar UK Limited (company number 8905988), registered by the Financial Conduct Authority as a Cryptoasset Exchange Provider and Custodian Wallet Provider in the United Kingdom under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, as amended (Firm Reference No. 928767).
Apple Pay and Apple Watch are trademarks of Apple Inc. Google Pay is a trademark of Google LLC.
This site is protected by reCAPTCHA and the and apply.