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. Take 2 mins to learn more.

Buy Maker Dai in the UK

Maker Dai

DAI
Currency_DAI_058429d5ea.svg
£0.000GBP
Past performance is not indicative of future results. All prices are sourced from CoinJar Indices.
DAI price calculator
GBP
DAI
Buy DAI

Overview

#18Popularity
StablecoinAsset type
2017Active since
Official site

What is Maker Dai?

Dai (DAI) is a decentralised, collateral-backed cryptocurrency which has a target price of 1 US dollar operating on the Ethereum network.

Unlike its centralised cousins (i.e. USDT, USDC and USDP), DAI doesn’t promise that its tokens are backed 1:1 with US dollars. Instead, it holds a diverse basket of ERC-20 tokens deposited by users as collateral, who are compensated with an equivalent amount of DAI. When the value of the tokens goes up, more DAI is introduced into the system but people can still buy back their collateral at the original price. When the value of the tokens goes down, parts of the asset basket are liquidated to maintain the peg, meaning depositors’ collateralized positions will also be reduced and they receive back less than you put in.

DAI has been developing its Collateralized Debt Position (CDP) system since 2014 and it remains the biggest player in the decentralised algorithmic token space. DAI’s governance token – allowing holders to vote on changes to the DAI protocol – is known as the MKR Token and is also available on CoinJar.

How does DAI maintain its value?

Users generate DAI by depositing collateral assets into Maker Vaults within the Maker Protocol. This is how DAI is entered into circulation and how users gain access to liquidity. DAI claims that every DAI in circulation is directly backed by excess collateral, meaning that the value of the collateral is higher than the value of the DAI debt. All DAI transactions are publicly viewable on the Ethereum blockchain.

How is DAI governed?

As a decentralised cryptocurrency, holders of MKR Tokens (the governance token of the Maker Protocol) can vote on changes to the Maker Protocol. Smart contracts manage each type of vote which applies any successful proposals immediately to the internal governance variables of Maker Protocol. These include adding new collateral types, changing risk parameters or triggering an emergency shutdown.

What risks should I be aware of when purchasing DAI?

DAI is backed by collateral who can themselves be volatile, such as Ethereum (ETH). If the value of the collateral drops significantly, it could trigger automatic liquidation of the collateral and cause the value of DAI to fluctuate.

DAI uses algorithmic smart contracts to maintain price stability and to ensure that DAI tokens are always kept fully collateralized. Errors or bugs in the smart contract may cause the value of DAI and any collateral held to drop significantly in value and lead to total loss. Users should be aware that other tokens which have used algorithmic smart contracts to maintain their value, such as Terra (LUNA) have failed, leading to total loss of value.

There is also regulatory uncertainty about future treatment of decentralised coins. Users should consider that there is a very high risk involved in using algorithmic tokens and should never treat these tokens as a store of value.

Faster_Payments_logo.svg
logo_payment-method_mastercard.svg
logo_payment-method_osko.svg
logo_payment-method_payid.svg
logo_payment-method_apple-pay.svg
logo_payment-method_google-pay.svg

Cash, credit or crypto?

Buy Maker Dai using Visa or Mastercard. Get cash in your account with Faster Payments Service (FPS). Convert crypto-to-crypto with a single click.

How to buy Maker Dai with CoinJar

Start your cryptocurrency portfolio with CoinJar by following these steps.
Step oneDownload the appGet the CoinJar app on iOS or Android.
Step twoCreate an accountCreate an account with CoinJar and verify your ID.
Step threeMake a purchaseBuy more than 50 cryptos using cash or a debit card.
Get the CoinJar app
App store
App Store Rating - Apple
App store
App Store Rating - Google (UPDATED).svg
AppReviews logo
Great
Trustpilot ratings 4 star
TrustScore 4.2 |Trustpilot

Finder Awards Winner 2023

CRYPTO TRADING - VALUE
CoinJar was named the Best Exchange for Value in the UK as part of Finder's Crypto Trading Platform Awards - second year running! CoinJar also picked up a Highly Commended for the same category in Australia. Check out our blog to see why Finder chose us over the competition.See why Finder chose CoinJar

Featured In

featured-in_compilation_desktop_uk@1920w.png

mastercard_pay_mark_0350ee9c9b.svg
footer_logo_1_6a238f8aff.png
apple_pay_mark_7d779715ad.svg
google_pay_mark_800_1_d4e5c13bff.svg

CoinJar App

All-in-one crypto wallet
Buy, sell, send and even spend your crypto with our cryptocurrency app.Get the CoinJar app
promo_coinjar-card@1920w.png

CoinJar Card

CRYPTO SPENDING POWERED BY MASTERCARD®
CoinJar Card lets you make purchases with your crypto, online and in-store – with full Google Pay™ integration. It’s free to activate, has no monthly fees.Get your free CoinJar Card

CoinJar Bundles & DCA

AUTOMATE & DIVERSIFY YOUR PORTFOLIO
Invest in themed baskets of crypto with CoinJar Bundles. Pick your Bundle in the CoinJar app and dollar buy, sell, rebalance, unbundle and dollar cost average your assets with ease. Use Recurring Buy to set up automated weekly, fortnightly, or monthly purchases at your chosen rate.See all Bundles

CoinJar Exchange

FOR PROFESSIONAL CRYPTO TRADERS
Purpose-built for institutions, market makers and professional traders, CoinJar Exchange offers 0%-0.1% fees, personalised trading layouts and ability to trade crypto with GBP, EUR, USD and AUD.Explore CoinJar Exchange
Past performance is not indicative of future results. These charts, returns and price data in screenshots are for visual illustration only and not actual market data.

Check out these other popular cryptos

Open your CoinJar
App storeApp store

Your information is handled in accordance with CoinJar’s Privacy Policy.

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. Take 2 minutes to learn more: www.coinjar.com/uk/risk-summary.

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).

The CoinJar Prepaid Mastercard is issued by EML Money DAC pursuant to a license by Mastercard. EML Money DAC is regulated by the Central Bank of Ireland. EML Money DAC is authorised and regulated as an issuer of electronic money by the Central Bank of Ireland under registration number C95957. EML Money DAC is deemed authorised and regulated by the Financial Conduct Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website. Registered office: EML Payments, 2nd Floor La Vallee House, Upper Dargle Road, Bray, Co. Wicklow, Ireland. Company Registration number: 423276.

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 Google Privacy Policy and Terms of Service apply.

CoinJar logo
CoinJarGet the app.