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How to buy Maker (MKR) in the US
A beginner's guide to buying and selling MKR in the US.
How to buy Maker
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Maker.
- Open an account on an exchange that supports MKR.
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.
- 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 Maker.
- Buy Maker.
Complete your Maker purchase and then find the best wallet to store MKR.
What is Maker?
Regarded as the first decentralized finance (DeFi) project in the world, MakerDAO is a lending and borrowing platform that eliminates the need for middlemen. It is built on Ethereum and makes use of smart contracts to automate all of its internal transactions as well as govern its associated stablecoin, DAI, which has its value pegged to the US dollar in a 1:1 ratio. MKR is the native cryptocurrency of the MakerDAO ecosystem and has one basic purpose – to help support the value of the DAI token, which is used in all of the platform’s native lending operations. Furthermore, owners of the MKR token can also make key decisions and judgments pertaining to the ecosystem.
Maker (MKR) is the 68th largest cryptocurrency in the world by market cap, valued at $2,278,957,674. The current price of Maker is $2522.65, which is -3.333% lower than yesterday. Prices have ranged between $2627.75 and $2501.05 over the past 24 hours. All prices are listed in US dollars and accurate as of October 23, 2021 03:10 UTC.
Where to buy Maker
Find an exchange to buy, sell and trade MKR by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Is it a good time to buy Maker?
The technical analysis gauge for Maker displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of Maker based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of Maker: moving averages, oscillators and pivots. Finder is not responsible for how MKR performs.
Maker at a glance
|Total MKR supply||991,328|
|All time high||US$6,292.31|
|Notable team members||Rune Christensen|
|Partnerships||Digix, L4 Ventures, Andreessen Horowitz|
Maker price performance over time
How to sell Maker
You can cash out your MKR with the same exchange you bought it through:
- Sign in to the exchange you have MKR on.
If you store your Maker in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of MKR you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Maker.
What to consider when buying MakerBelow are the aspects you should consider before investing in MKR:
- Trustless operations: The platform works without the need for users having to undergo any identity or credit checks. This is made possible via the deployment of a unique liquidation mechanism wherein the ETH being used as collateral to take loans is sold off in order to pay back the borrowed DAI – plus penalties and fees. This prevents users from borrowing too much money from the system, thus allowing the platform to remain stable. Furthermore, in certain cases where the value of ETH dips a lot or a large number of liquidations are witnessed simultaneously, new MKR tokens are created and sold off in order to pay back any outstanding loans. There should always be enough MKR tokens in supply to cover any liquidated loans.
- Novel stability mechanism: The total number of MKR tokens that are created or burned is largely dependent on how stable DAI is in relation to the US dollar. If, for example, the value of DAI is stable, then MKR is burned, reducing its overall supply ratio. On the other hand, if DAI’s value fluctuates too much from its 1:1 peg, then MKR tokens are created in order to introduce more stability into the system.
- Governance rights: MKR holders have the right to vote on a number of key governance decisions affiliated with the MakerDAO protocol. For example, owners have a say in things like how high the system’s native fee rates should be as well as which assets should be accepted as collateral. One MKR token directly equates to one vote within the ecosystem and thus users with large MKR holdings have a massive bearing on voting outcomes and subsequently on how the platform is governed.
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Disclaimer: Cryptocurrencies, including Maker, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MKR 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 Maker or any other cryptocurrency discussed.
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