Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

How to buy DAO Maker (DAO) in the US

A beginner's guide to buying and selling DAO in the US.

DAO Maker
DAO- USD
DEFI
$2.04
-$0.32 (-13.59%)

How to buy DAO Maker

Look for an exchange that supports both fiat and cryptocurrency to simplify buying DAO Maker.

  1. Open an account on an exchange that supports DAO.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy DAO Maker.
  3. Buy DAO Maker.
    Complete your DAO Maker purchase and then find the best wallet to store DAO.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is DAO Maker?

MakerDAO is a decentralized governance community that runs the Maker Protocol, which makes it possible to generate Dai. Dai is one of the world’s major stablecoins and it tracks the US dollar as closely as possible through smart contracts on the Ethereum blockchain. According to the whitepaper, it allows anyone with Ethereum and a MetaMask wallet to lend themselves money in the form of Dai. You can also lock Dai in the Dai Savings Rate (DSR) smart contract to earn a variable rate of accrual while retaining control of your Dai. MKR token is the governance token of the Maker Protocol. As a holder of MKR, you can vote to change parameters in the smart contracts to ensure the stability of Dai. Unlike Dai, which is a stablecoin designed for payments and savings, MKR has a volatile price.

DAO Maker (DAO) is the 373rd largest cryptocurrency in the world by market cap, valued at $78,061,144. The current price of DAO Maker is $2.2, which is 2.088% higher than yesterday. Prices have ranged between $2.37 and $2.15 over the past 24 hours. All prices are listed in US dollars and accurate as of August 05, 2021 01:08 UTC.

Where to buy DAO Maker

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 provider.
Name Product Deposit methods Fiat currencies Cryptocurrencies
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

268
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
loading

Compare up to 4 providers

This guide provides step-by-step instructions on how to buy DAO Maker in the US, lists some exchanges where you can get it and provides daily price data on DAO.

DAO Maker at a glance

Information last updated August 05, 2021 01:08 UTC.
Coin symbolDAO
Total DAO supply275,163,395
Circulating DAO35,460,616
Current priceUS$2.2
All time highUS$8.71
All time high dateApril 22, 2021

DAO Maker price performance over time

Historical prices compared with the price of US$2.2.

1 hourN/A
24 hours 2.09%
7 days 16.07%
14 days 71.37%
30 days 10.92%
60 days -18.94%
200 daysN/A
1 yearN/A

How to sell DAO Maker

You can cash out your DAO with the same exchange you bought it through:

  1. Sign in to the exchange you have DAO on.
    If you store your DAO Maker in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of DAO you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of DAO Maker.

What to consider when buying DAO Maker

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.
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

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site