Dai (DAI) is a stablecoin pegged to the US dollar, designed to maintain minimal price volatility in the cryptocurrency market. Below, we explore its conversion rate, historical performance, and steps to purchase DAI securely.
Current DAI Price and Market Behavior
The price of DAI fluctuates continuously due to 24/7 cryptocurrency market activity. As a stablecoin, it aims to maintain a 1:1 peg with the USD, but minor deviations can occur. Track real-time DAI prices and historical data on reputable platforms like Crypto.com Price.
Key Features of DAI:
- Stability: Backed by collateralized assets via MakerDAO’s smart contracts.
- Decentralization: Operates on the Ethereum blockchain.
- Transparency: Reserves audited regularly to ensure the peg.
Historical Performance of DAI
Weekly Changes
Investing $100 in DAI a week ago would yield approximately **$100.00** today, reflecting its stability.
Monthly Changes
Over a month, DAI’s value remains steady. A $100 investment a month ago would still be worth **$100.00**.
Annual Changes
Despite broader crypto market volatility, DAI maintains its peg. A $100 investment a year ago would equal **$100.00** today.
How to Buy DAI: Step-by-Step Guide
Follow these steps to purchase DAI securely:
- Download a Trusted App: Use platforms like the Crypto.com App.
- Complete KYC Verification: Submit ID documents for account security.
- Deposit Funds: Use bank transfers, credit/debit cards, or crypto transfers.
- Navigate to ‘Buy’: Select DAI from the list of cryptocurrencies.
- Enter Amount: Specify the quantity and confirm the transaction.
- Secure Storage: Store DAI in the app or transfer to a DeFi wallet like Crypto.com DeFi Wallet.
👉 Buy DAI securely on Crypto.com
Why Choose DAI?
- Hedge Against Volatility: Ideal for traders seeking stability.
- DeFi Integration: Widely used in decentralized finance protocols.
- Low-Cost Transfers: Cheaper than traditional banking for cross-border payments.
FAQ
Is DAI Always Worth $1?
While DAI is designed to maintain a 1:1 USD peg, minor deviations (<1%) can occur due to market demand.
How Is DAI Different from Other Stablecoins?
Unlike centralized stablecoins (e.g., USDT, USDC), DAI is decentralized and collateralized by crypto assets.
Can I Earn Interest on DAI?
Yes! Platforms like Crypto.com Earn offer yield-bearing opportunities for DAI holders.
What Backs DAI’s Value?
DAI is overcollateralized by ETH and other approved assets, managed by MakerDAO’s smart contracts.
Is DAI Safe?
DAI has a proven track record since 2017, with transparent audits and decentralized governance.
For further assistance, reach out to Crypto.com Support.
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