Where to buy DAI coin: a stablecoin that stayed put as the crypto market plummeted

The DAI coin has remained relatively stable throughout the ongoing crypto market plunge; something that has caught the attention of most crypto investors especially within the decentralized finance where DAI is mainly used.

Invezz has noticed a sudden increase in the demand for Dai (DAI) and it has compiled this article to assist investors who are wondering how and where they can buy the DAI. This article details how and where to buy the DAI, what DAI is, and what its price prediction is.

Continue reading to find out more.

Best places to buy Dai online

What is DAI coin?

DAI was the first stablecoin to be developed.

In a nutshell, DAI is an Ethereum-based stablecoin (a cryptocurrency whose price is pegged on a stable asset) and its issuance and development are managed by the Maker Protocol which is governed by the MakerDAO decentralized autonomous organization.

As a stablecoin, the price of DAI is soft-pegged on the US dollar and collateralized by a collection of other cryptocurrencies that are deposited into smart contract vaults each time a new DAI is minted.

Initially, the DAI was only collateralized by single cryptocurrencies. It is only after November 2019 that the DAI could be collateralized by a combination of multiple cryptocurrencies.

Should I buy DAI today?

If you want to invest in a stablecoin, then DAI is a good choice.

However, the cryptocurrency market is very volatile and you should tread carefully to avoid huge losses even with the so-called stalecoins since they are not immune to market movements.

DAI price prediction

According to the recent market price movements of the DAI, the coin is expected to continue remaining flat without any major market movements at least until the current crypto market bloodbath is over.

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