Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
DAO Maker (DAO) is the 176th largest cryptocurrency by market cap, valued at US$189,474,482.
DAO Maker is a highly volatile asset capable of major price swings in a single day. Today DAO is trading for $1.13 USD, which is lower than yesterday's trading price of $1.16 USD. Over the past year, DAO Maker's price has seen a decrease of -43%.
So before you buy DAO Maker, make sure you understand these unique risks as well as its legal and tax status here in Canada.
If you're ready to get started, read on for step-by-step instructions on how you can buy DAO Maker.
How to buy DAO Maker in 4 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
-
Compare crypto exchanges
The easiest way to buy DAO Maker is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
-
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
-
Make a deposit
Once verified, you can deposit CAD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
-
Buy DAO Maker
You can now exchange your funds for DAO Maker. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your DAO Maker to your personal wallet.
Where to buy DAO Maker in Canada
Find an exchange to buy, sell and trade DAO by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
1 - 0 of 0
How we keep this DAO Maker guide up-to-date
- DAO price data is regularly updated through data feeds so you always have the latest information.
- DAO Maker performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.
How do I find the best places to buy DAO Maker?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in Canada to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy DAO Maker?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading DAO Maker.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing DAO with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy DAO Maker?
Once you've created an account, you will need to deposit funds to buy DAO with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy DAO:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase DAO by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for DAO on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy DAO Maker?
The easiest way to buy DAO is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying DAO, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of DAO Maker has been performing recently.
Best DAO Maker wallets to store your DAO
You can keep your DAO on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your DAO below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
 |
 |
 |
|
|
|
|
|
|
|
|
|
Supported assets 5,500+ |
Supported assets 1,317+ |
Supported assets 30,000+ |
|
Price (USD) $149 |
Price (USD) $186 |
Price (USD) $49.99 |
See more of the best crypto wallets
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
Is DAO Maker a good investment?
Before buying speculative assets such as cryptocurrency, it’s important to do research to make sure you understand the key features of the coin and consider the investment case as well as the use case since the risks involved are high.- Governance. As an MKR holder, you can make decisions about the Maker Protocol. For example, you can adjust policy for the Dai stablecoin and choose new collateral types. According to CoinDesk if the collateral is not enough to cover the DAI in existence, MKR is created and sold to raise additional capital. This incentivizes MKR holders to responsibly regulate the parameters of DAI and not approve loans against poor collateral.
- Dai vs MKR. Unlike Dai, which is a stablecoin pegged to the US dollar, MKR has a volatile price and is an investment in MakerDAO. As a Dai holder, you can earn interest on your Dai as long as it is locked in the smart contract system. MKR holders can raise or lower the interest rate or the DSR to influence demand for Dai.
- Supply. At its inception, there were 1 million MKR tokens. These tokens are created and destroyed depending on different situations. For example, MKR tokens will be destroyed when the Maker Protocol’s system surplus exceeds a minimum threshold, resulting in excess Dai being auctioned for MKR. When the Maker Protocol is running a deficit, MKR will be created and auctioned for Dai.
Today's DAO Maker price versus ATH
Compare today's price of DAO Maker ($1.13 USD) against its all-time-high price of $8.71 USD on 21 April 2021. The closer the bar is to 100%, the closer DAO is to reaching its ATH again.
DAO Maker's price: $1.13
ATH date: April 21, 2021
ATH date: April 21, 2021
12.97%
DAO Maker ATH: $8.71
How to trade, convert or sell DAO Maker
You can convert or sell your DAO with the same exchange you bought it through:- Sign in to the exchange you have DAO on.
- If you store your DAO Maker in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of DAO you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of DAO Maker.
- Complete your transaction and move your DAO to a wallet for storage.
Disclaimer: Cryptocurrencies, including DAO Maker, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of DAO is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the DAO Maker or any other cryptocurrency discussed.
More guides on Finder
-
Bad credit loans in Edmonton, Alberta
From personal and payday loans to lines of credit, compare loans for bad credit in Edmonton.
-
How to buy Sui (SUI) in Canada
This guide provides step-by-step instructions on how to buy Sui, lists some exchanges where you can get it and provides daily price data on (SUI).
-
How to buy Pepe (PEPE) in Canada
This guide provides step-by-step instructions on how to buy Pepe, lists some exchanges where you can get it and provides daily price data on (PEPE).
-
How to buy Arbitrum (ARB) in Canada
This guide provides step-by-step instructions on how to buy Arbitrum, lists some exchanges where you can get it and provides daily price data on (ARB).
-
How to buy SSV Network (SSV) in Canada
This guide provides step-by-step instructions on how to buy SSV Network, lists some exchanges where you can get it and provides daily price data on (SSV).
-
How to buy USDD (USDD) in Canada
This guide provides step-by-step instructions on how to buy USDD, lists some exchanges where you can get it and provides daily price data on (USDD).
-
How to buy Blur (BLUR) in Canada
This guide provides step-by-step instructions on how to buy Blur, lists some exchanges where you can get it and provides daily price data on (BLUR).
-
How to buy FLOKI Inu (FLOKI) in Canada
This guide provides step-by-step instructions on how to buy FLOKI Inu, lists some exchanges where you can get it and provides daily price data on (FLOKI).
-
How to buy Aptos (APT) in Canada
This guide provides step-by-step instructions on how to buy Aptos, lists some exchanges where you can get it and provides daily price data on (APT).
-
How to buy EthereumPoW (ETHW) in Canada
This guide provides step-by-step instructions on how to buy EthereumPoW, lists some exchanges where you can get it and provides daily price data on (ETHW).