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How to buy Maker (MKR)

Learn how to buy Maker (MKR) on 13+ crypto exchanges in our step-by-step guide.

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Maker (MKR) is in the top 1,000 cryptocurrencies by market cap.

Maker is a highly volatile asset capable of major price swings in a single day. Today the price of MKR is $2019.8, which is higher than yesterday's trading price of $1,977.10. Over the past year, Maker's price has seen a decrease of -29%.

So before you buy Maker, make sure you understand these unique risks as well as its legal and tax status here in the US.

If you're ready to get started, read on for step-by-step instructions on how you can buy Maker.

How to buy Maker in 5 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.

  1. Compare crypto exchanges
    The easiest way to buy 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.
  2. 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.
  3. Make a deposit
    Once verified, you can deposit USD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
  4. Buy Maker
    You can now exchange your funds for Maker. On beginner-friendly exchanges, this is as simple as entering the USD or MKR amount you want to purchase and clicking "buy".
  5. Secure your Maker
    Consider transferring your MKR to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

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 exchange.

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Product Finder Score Fiat currencies Cryptocurrencies Deposit methods Offer Disclaimer
8.2Great

27

253

Bank transfer (ACH), Bank transfer, Credit card, Debit card, Wire, Apple Pay, Google Pay
Refer a friend to earn US$20 — $10 for you and $10 for the person you refer. T&Cs apply.
Terms apply. Cryptoassets are highly volatile. Your capital is at risk. Available in the US, CA, UK and AU
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Capital at risk

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8.2Great

26

58

Bank transfer, Debit card, PayPal, Wire transfer
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Crypto Trading is offered via eToro USA LLC (NMLS ID: 1769299). This entity is not a registered broker-dealer or FINRA member and your cryptocurrency holdings are not FDIC or SIPC insured. Investments are subject to market risk, including the possible loss of principal.
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Capital at risk

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8Great

7

404

Bank transfer, Credit card, Cryptocurrency, Debit card, SEPA, Instant SEPA, Apple Pay, Google Pay, SWIFT, ACH online banking
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Gemini logo
8Great
Gemini Cryptocurrency Exchange
Exclusive
8Great

7

81

Bank transfer (ACH), PayPal, Wire transfer (USD), Bank transfer (EUR and GBP), FAST transfer (SGD), Cubix, Plaid Direct Payments (UK)
Get $25 in Bitcoin when you trade $100 with code Finder25
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Paybis logo
6Standard
Paybis Cryptocurrency Exchange
6Standard

42

55

Bank transfer, Credit card, Debit card, Neteller
Finder Exclusive: Get 25% discount on all commission for 1 transaction when using promocode Finder25. There is no time limit on the validity of the promo code.
US residents: Restricted in the following states - NY, CT, NM, WA, HI, AL, VT, FL, AK, NV.
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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.

How do I find the best places to buy 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 the US 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 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 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 MKR 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 Maker?

Once you've created an account, you will need to deposit funds to buy MKR 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 MKR:

  • 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 MKR by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for MKR on the spot market to see what cryptocurrencies it can be traded for.

What is the easiest way to buy Maker?

The easiest way to buy MKR 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 MKR, 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 Maker has been performing recently.

Best Maker wallets to store your MKR

You can keep your MKR 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 MKR below.

Ledger Nano X Wallet

Trezor Model T Wallet

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Supported assets

5,500+

Supported assets

1,000+

Price (USD)

$149

Price (USD)

$129

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 Maker a good investment?

Below 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.

Today's Maker price versus ATH

Compare today's price of Maker ($2019.8 USD) against its all-time-high price of $6292.31 USD on 03 May 2021. The closer the bar is to 100%, the closer MKR is to reaching its ATH again.

Maker's price: $2019.8
ATH date: May 03, 2021
32.10%

Maker ATH: $6292.31


How to trade, convert or sell Maker

You can convert or sell your MKR with the same exchange you bought it through:
  1. Sign in to the exchange you have MKR on.
  2. If you store your Maker in a digital wallet, compare crypto exchanges to convert or sell it on.
  3. Choose Sell or Convert and place a sell order.
  4. Choose the amount of MKR you'd like to convert or sell.
  5. Confirm the sell price and fees and close your sale of Maker.
  6. Complete your transaction and move your MKR to a wallet for storage.

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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