How to buy Dai in the US

What is Dai (DAI)?

Dai (DAI) is a stablecoin built on Ethereum that aims to keep its value close to one US dollar through an overcollateralized system managed by MakerDAO – a decentralized protocol governed by holders of the MKR token.

Unlike traditional stablecoins backed primarily by bank-held reserves, DAI is created (or ‘minted’) when users deposit approved crypto assets into Maker vaults. These vaults hold more collateral value than the Dai they generate, helping the token remain stable even when crypto markets fluctuate.

DAI is widely used in decentralized finance (DeFi) for payments, lending, trading and savings-style applications thanks to its stability and open, permissionless design.

Why do people buy and invest in DAI?

People buy DAI for a variety of reasons depending on what they want from a digital asset, especially if they need a stable-value option within the crypto ecosystem.

Common factors include:

• Stable value: DAI aims to maintain a price close to its dollar-peg, which can be useful for reducing volatility in a crypto portfolio.
• DeFi utility: DAI is one of the most widely supported stablecoins in decentralized finance, enabling borrowing, lending, liquidity provision and payments.
• Decentralized design: DAI is backed by crypto collateral and governed by MakerDAO, appealing to users who prefer a transparent, on-chain model.
• Hedging and transfers: DAI allows users to move stable-value funds across platforms, blockchains and apps with fewer friction points than traditional rails.

You can buy DAI and 400+ other cryptocurrencies on the Crypto.com App.

How to buy DAI in 5 steps

1. Choose a cryptocurrency platform

Start by selecting a platform that supports DAI in the US and clearly explains its fees, features and supported networks.

You can:

• Buy DAI on the Crypto.com App – A simple interface for buying, selling and holding supported crypto assets.
• Trade DAI on the Crypto.com Exchange – Where available, for users who prefer more advanced order types or deeper liquidity.

2. Create and verify your account

Sign up using your email address, set a strong password and enable additional security features such as two-factor authentication (2FA).

Most platforms require identity verification. This typically involves uploading a government-issued ID and completing additional checks depending on your region.

3. Deposit funds

Before buying DAI, add funds using the options available in your region. In the US, these may include:

• Bank transfer (ACH) – Free* and suitable for larger deposits.
• Credit or debit card – Fast and convenient, though fees may apply.
• Crypto transfer – Deposit another cryptocurrency and swap it for DAI.
• Apple Pay or Google Pay – Available in some app flows depending on eligibility.

4. Buy Dai (DAI)

Once your account is funded, follow the typical purchase flow:

• Search for ‘Dai (DAI)’.
• Enter the amount you want to buy.
• Review price details, fees and the estimated amount of DAI you’ll get. 
• Confirm the purchase.

5. Store and manage your DAI

After purchasing DAI, choose how you want to store it:

• Hot wallets: Convenient for everyday use, such as the in-app wallet or other software wallets that support Ethereum-based assets.
• Cold wallets: Hardware wallets or offline storage (e.g., paper wallets) for enhanced control and security.

Because DAI is an ERC-20 token, it is widely supported across wallets and DeFi platforms.

Strengths and weaknesses of Dai (DAI)

Strengths of DAI

• Stablecoin with decentralized backing: DAI maintains a target value of roughly $1 using overcollateralized crypto reserves.
• Transparent and on-chain: Collateral balances, vaults and stability mechanisms are visible on Ethereum.
• Wide DeFi adoption: DAI is one of the most integrated stablecoins across decentralized applications.
• Permissionless and open: Anyone can create DAI by opening a vault and depositing approved collateral.

Weaknesses of DAI

• Collateral dependency: Market shocks to assets like ETH or other accepted collateral types can strain the system.
• Complex mechanism: The way DAI maintains its peg, through vaults, fees, collateral ratios and governance, can be difficult for beginners to understand.
• Governance risk: MakerDAO decisions, such as collateral changes or system upgrades, can affect DAI’s design and behavior.
• Exposure to broader DeFi conditions: Heavy integration with DeFi makes DAI sensitive to ecosystem-wide risks.

What to know before buying Dai (DAI)

Before purchasing DAI, check whether your chosen platform supports DAI deposits and withdrawals on the correct network – most commonly Ethereum, but DAI also circulates on multiple blockchains via bridges or Layer-2 networks.

If you plan to use DAI in DeFi (for lending, yield strategies or liquidity pools), make sure the wallet or protocol you’re using supports the version of DAI you hold. Always double-check addresses and networks before transferring, since crypto transactions are typically irreversible.

Zooming out, factors like collateral ratios, market volatility and governance decisions can influence how the peg behaves during periods of stress. Market sentiment, liquidity conditions and broader regulatory developments affecting stablecoins may also impact DAI’s stability or availability.

What affects the price of DAI?

DAI’s peg can be influenced by:

• Collateral conditions: The value, volatility and composition of assets backing DAI.
• Demand in DeFi: Borrowing, lending, trading and liquidity activity across decentralized apps.
• Stability fees and governance decisions: Adjustments made by MakerDAO impacting supply and incentives.
• Market sentiment: Changes in broader crypto liquidity or stablecoin regulation can affect usage patterns.

Dai (DAI) investment tips for beginners

If you’re new to DAI or stablecoins, consider the following:

• Understand how DAI works – It is a crypto-collateralized stablecoin, not a cash-in-the-bank product, and its peg relies on MakerDAO’s mechanisms and collateral.
• Start small – Consider beginning with a modest amount while you learn how wallets, networks and transfers work. Only use money you are willing to lose.
• Use dollar-cost averaging (DCA) – Some users spread their DAI purchases over time with recurring buys rather than relying on a single entry point, which can smooth out short-term market moves.
• Avoid concentrating exposure – Holding a mix of assets, rather than only DAI or only one stablecoin, can reduce reliance on a single protocol or design.

Crypto.com provides features like price alerts, recurring buys and portfolio tools to help users track and manage their holdings.

DAI price outlook

DAI isn’t typically viewed as a speculative asset. Its demand generally comes from its stability, liquidity and usefulness across DeFi. 

Looking ahead, interest in DAI may be shaped by several factors, including the overall growth of the DeFi ecosystem, changes introduced through MakerDAO governance and how the protocol manages the mix and stability of the collateral types backing DAI. 

Regulatory developments affecting stablecoins and the broader appetite for decentralized financial infrastructure can also influence how widely DAI is used.

Although DAI aims to maintain a steady value, it’s important for users to understand how the peg is supported and what risks can emerge during periods of extreme market volatility.

Ready to get started?

1. Sign up on the Crypto.com App in minutes.
2. Verify your account with quick KYC.
3. Deposit funds using your preferred method.
4. Purchase DAI and keep an eye on your stablecoin investment.

FAQs about Dai (DAI)

Is DAI a stablecoin?
Yes, DAI is designed to maintain a value close to $1 using crypto collateral and decentralized governance through MakerDAO.

How is DAI different from other stablecoins?
Unlike fiat-backed stablecoins that hold reserves in bank accounts, DAI is backed by on-chain collateral such as ETH, staked ETH or other approved crypto assets. Its stability mechanisms are governed openly on-chain.

Can I buy DAI with USD in the US?
Yes, you can buy DAI directly in the Crypto.com App using bank transfers, cards or mobile payment options depending on availability in your region.

How do I store DAI?
DAI is an ERC-20 token, so it can be stored in most Ethereum-compatible wallets, including app-based wallets for convenience or hardware wallets for enhanced security.

Does DAI always stay at $1?
DAI targets a $1 value, but temporary fluctuations can happen during periods of heavy market volatility or when collateral conditions change. MakerDAO mechanisms work to restore the peg over time.

* Other transaction fees and spread may apply.

Important information: This is informational content sponsored by Crypto.com and should not be considered as investment advice. Trading cryptocurrencies carries risks, such as price volatility and market risks. Before deciding to trade cryptocurrencies, consider your risk appetite.

Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions. 

Past performance may not indicate future results. There’s no assurance of future profitability, and content may not reflect current opinions.