Buy Dai (DAI) with TheJingStock
Stablecoins are a clever solution to one of the crypto market’s most dreaded problems – its massive price swings. One such stablecoin is DAI, which promises unparalleled stability and convenience thanks to the advanced technology under its hood. In fact, it is so sophisticated that it feels intimidating for people who just want to buy DAI for daily use or store of value. To help you out, our team has gathered in this guide everything you need to know, from what is DAI and comparison of DAI vs other stablecoins to how to buy DAI and where to keep it safe.
What is DAI?
Dai is a stablecoin – a type of cryptocurrency whose price does not change over time. In fact, DAI is one of many cryptos tied to the value of the U.S. dollar:
- Tether (USDT)
- TrueUSD (TUSD)
- USD Coin (USDC)
- Paxos Standard (APX)
What makes it stand out is the way the price of DAI remains stable. Unlike other coins, which are pegged to $1 by storing assets in bank accounts of respective companies, DAI uses Ethereum’s cryptocurrency to issue collateralized loans. Here’s a simplified explanation: Every time someone is buying DAI, the respective amount of ETH or other crypto is locked through smart contract technology, and the necessary amount of tokens is issued. Then, if you choose to sell your DAI tokens, the protocol releases the locked crypto, and you get your money back, paying a small fee in the process.
Of course, this doesn’t mean you cannot buy DAI directly with US dollars. Many services, both exchanges and OTC brokers, will offer several ways to buy DAI with your preferred coins or fiat. In this case, the service will buy ETH required for the transaction, then buy DAI with it and add it to your balance or send it to your crypto wallet. This way, the transaction still gets through a smart contract, so your DAI’s value is still protected with the power of the blockchain.
Why buy DAI?
There are many reasons for buying DAI. Some of these are common for most stablecoins, while others are unique for the DAI token.
- Stable: DAI is tied to the value of the U.S. dollar, so you are always certain you will get your money back.
- Flexible: DAI is built on the popular Ethereum network and is compatible with most Ethereum wallets.
- Fast: DAI is a cryptocurrency, so you can send funds to the other side of the world and see them arrive in seconds.
- Transparent: You can verify every transaction on the blockchain.
- Advanced: The power of smart contracts means you don’t need to entrust your money to any given company.
- Versatile: The convenient $1 U.S. dollar price tag means that you can buy and start trading with DAI or use it as a local payment method.
How To Buy DAI on the OTC Market?
If you are wondering how to buy DAI quickly and without any hassle, OTC (over-the-counter) trading is probably the best option for you. These services offer an exceptional level of service, offer great prices, and don’t have limitations on buying DAI that you would expect from a cryptocurrency exchange. Here’s how it works:
- You find an OTC broker that seems trustworthy and offers terms that you like;
- You send them a request on how much crypto you are looking for and whether you want to buy DAI directly with US dollars or other coins;
- The client specialist gets in contact with you, confirms all the details, and asks you to send some identification for compliance with KYC;
- The broker goes through the book and finds a matching amount of DAI for sale;
- You are sent an offer and decide whether to accept it;
- Once you agree, the broker gets a fee, and the crypto is sent your way.
Where To Buy DAI?
Another popular place for buying DAI is cryptocurrency exchanges. Many major services on the cryptocurrency market list DAI among available assets:
Most of these are well-established and trustworthy services that offer a great level of service and are compliant with financial regulations. Note, however, that most of them are geared towards trading. And, depending on what you want to buy DAI for, this can be either an advantage or a drawback.
First, an exchange is expected to offer traders as much control over the process as possible. In practice, this means being showered with all sorts of settings, charts, and tickers, which can feel disorienting for a newcomer who doesn’t know how to buy DAI yet. Second, depending on the regulatory landscape they operate in, some exchanges might not allow you to buy DAI directly with US dollars. So, unless you want to purchase DAI for trading, you might want to look into the OTC market instead.
How To Buy Dai (DAI) on TheJingStock?
Here at TheJingStock, we believe in the customer-first approach. This is why we have built our service in a way that makes buying DAI quick and intuitive. Just tell us how much crypto you want, and we’ll handle the rest.
Create an Account on TheJingStock
All it takes to create an account is filling out a single form that will contain everything we need to know to make a deal:
- How much DAI you need;
- Whether you want to buy DAI directly with US dollars or another cryptocurrency;
- How you would like to receive your DAI tokens;
- How would you like to send us the payment;
- Which communication channel you prefer to be contacted through;
- Some kind of identification to make the transaction KYC-compliant.
Our Personal Manager Will Contact With You
Once we receive the information and look through it, you will be contacted by your personal expert who will list available offers. In the best-case scenario, you will get what you were looking for, seal the deal, and receive DAI in a wallet within seconds. If there’s no matching order at the moment, you might still negotiate terms that are close enough. If you have any questions on how to buy DAI or which wallet to use for storing it, the expert will be happy to help with that.
Buying DAI with Cryptocurrency
Perhaps the best way you can buy DAI is with other crypto coins:
- All the transactions will be nearly instant compared to fiat payments that sometimes take days to clear.
- Cryptocurrency trading and withdrawal fees are so low you will barely notice them.
- Unlike fiat, cryptos have fewer regulatory restrictions, so when you buy DAI with cryptocurrencies like ETH and DASH you might not need to undergo verification at all.
Finally, because DAI is built on Ethereum-based smart contracts, you can actually find services with automated exchange protocols that make the purchase even smoother and safer. The only downside is that this method requires at least some technical understanding of the matter. So, you’ll be expected to know how to buy DAI as well as how to use cryptocurrency in general. However, once you ace your crypto skills, you’ll be able to purchase DAI with no fees whatsoever and without any middlemen.
Purchase DAI: More about Payments Methods
If you are not ready to part with your coins, there are still many traditional ways to buy DAI. Most exchanges and OTC brokers allow buying DAI directly with US dollars. Services that work with international audiences offer an even broader selection and will let you buy DAI with ZAR, EUR, NGN, GBP, AUD, and other currencies common in their region of operations. All popular payment methods are supported, including bank transfers, digital payment platforms, and credit card payments. Some personalized services even accept cash, although this is relatively uncommon.
Which Wallets You Can Use For DAI?
The most secure and discreet way for using and storing your DAI is a cryptocurrency wallet. Since DAI uses the Ethereum-based token, it is compatible with the majority of software and hardware wallets on the market. If you buy DAI on an exchange that you trust, you can also keep it there. However, like other web-based services, this method has one drawback – you essentially entrust your money to an external party.
In most cases, this isn’t a problem, especially if you do your research and choose a trustworthy service with a good track record. Still, if you want to utilize the safety potential of the blockchain to the fullest, it’s recommended that you withdraw the DAI to your Ethereum wallet once you are done trading. Be warned, though: on the blockchain, you take full responsibility for the safekeeping of your coins, and there’s no support team to help you recover the lost password, so be sure you know what you are doing.
TheJingStock Is the Best DAI Broker
Considering all of the above, it would be fair to call DAI the pinnacle of stablecoin evolution. However, its technological superiority can be difficult to wrap your head around. Recognizing this, we have created a service where you can buy DAI without taking a course on blockchain technology. All you need to tell us how much you need, what payment methods you prefer, and we’ll take care of the rest. Our specialists will find you the best offers on the market in the shortest time possible, all while offering personalized advice and consultation. We have set to become the best player in the OTC market and stand behind this ambitious goal by committing to the highest standards of quality.