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How to buy xDAI Stake (STAKE)
A beginner's guide to buying and selling STAKE in the US.
How to buy xDAI Stake
Look for an exchange that supports both fiat and cryptocurrency to simplify buying xDAI Stake.
- Open an account on an exchange that supports STAKE.
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 xDAI Stake.
- Buy xDAI Stake.
Complete your xDAI Stake purchase and then find the best wallet to store STAKE.
What is xDAI Stake?
xDai is essentially an Ethereum side-chain that is designed to help in the facilitation of fast yet inexpensive transactions. The protocol makes use of a proof-of-stake governance framework as well as employs a dual token model:
- xDai: It is essentially a stablecoin that has its value tied with that of the US Dollar in a ratio of 1:1. Using the stability aspect of the token, the platform is able to facilitate transactions at low, stable gas fees.
- STAKE: This is the core governance token that is used by participants to secure the network. Unlike its above-stated counterpart, STAKE is subject to value swings, with the currency’s price largely being driven by market demand. Lastly, these coins are also useful for staking as well as for providing network validators incentives and rewards.
xDAI Stake (STAKE) is the 347th largest cryptocurrency in the world by market cap, valued at $114,375,841. The current price of xDAI Stake is $21.730, which is 1.659% higher than yesterday. Prices have ranged between $22.560 and $20.990 over the past 24 hours. All prices are listed in US dollars and accurate as of April 19, 2021 11:04 UTC.
Where to buy xDAI Stake
Unfortunately at this time no major exchanges offer xDAI Stake. However, you may be able to purchase STAKE with another cryptocurrency, just be sure you're following all legal restrictions and requirements.
Instead of buying xDAI Stake, consider buying a different cryptocurrency after comparing popular exchanges.
xDAI Stake coin priceUse our graph to track the performance of STAKE over time.
xDAI Stake at a glance
|Total STAKE supply||8,625,159|
|All time high||US$43.000|
|All time high date||February 21, 2021|
xDAI Stake price performance over time
How to sell xDAI Stake
You can cash out your STAKE with the same exchange you bought it through:
- Sign in to the exchange you have STAKE on.
If you store your xDAI Stake in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of STAKE you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of xDAI Stake.
What to consider when buying xDAI Stake
- Relatively cheap and fast transactions: xDai is a derivative of MakerDAO’s native stablecoin offering, i.e. DAI. When making use of xDai, users can facilitate transactions at really cheap rates — $0.000021 USD per tx — that too within a matter of seconds.
- Strong leadership: xDai (STAKE) is the brainchild of Igor Barinov, who is incidentally, also the founder of the POA Network, a project that seeks to optimize Ethereum by optimizing its scalability and overall functionality. In the past, he has been associated with a number of other prominent startups such as BlockScout, Block Notary, and TokenBridge.
- Operational model: Network participants who own significant amounts of the xDai token can become network validators, thus securing the platform through their efforts. Not only that, holders also afforded the ability to participate in determining network consensus as well as stake their xDai in order to receive passive income streams.
- Staking: The xDai platform makes use of a public POSDAO and dPOS mechanism, thereby allowing any individual with enough STAKE tokens to run a node within the network.
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