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  • Writer's pictureEmre Ata

Dai in the USA

Updated: Mar 6, 2021

Dai in the USA,

The Dai rate has risen by 0.08 % in the past 24 hours. The price developments of the cryptocurrencies are shown in dollars on Cryptocurrency USA & Binance. The time interval can be adjusted manually. The displayed Dai course is updated automatically. The DAI coin is a cryptocurrency that represents the equivalent of exactly 1 dollar. The term for this is a stable coin. This means that the coin always has a stable value. At least that's the goal of this coin. Other cryptocurrencies such as Bitcoin have their own value that increases or decreases in value compared to a normal currency such as US dollars or euros. In contrast, the DAI coin always holds its value at one dollar. Owners of the DAI coins do not need to constantly look at charts and determine the development of the price. Technologically speaking, DAI runs on the blockchain. This coin therefore also represents a decentralized cryptocurrency. You can use Dai for smart contracts and thus carry out transactions. You can send the Dai coin very quickly and cheaply around the world. In contrast to transfers, you save a lot of time and money. Since the cryptocurrency runs decentrally on the blockchain, you don't need to trust any bank or other authority. Your coin is distributed decentrally and you can use your wallet safely and securely.

Dai in the USA
Dai in the USA

Crypto assets are very volatile, so this property in theory clearly speaks against a stable coin. This means that, as a rule, more has to be deposited in order to acquire a certain amount of Dai. The stored amount of Dai is analyzed and a corresponding amount of stable coins is issued. At this point, the aforementioned over-collateralization comes into play and slightly fewer units of the Dai coin are paid out.

As soon as the desired number of Dai cryptocurrency has been created, the coins can be paid out. A so-called stability fee is always due. This can only be paid, whereby it is used and is then destroyed. This should reflect the value, prevent spam in the network, and ensure a deliberate reduction in the total inventory. However, the stable coin is not created by many miners, as is the case with many cryptocurrencies, but is pre-build and is issued directly. However, many critics also see the stability fee as a threat. Significant exchange rate fluctuations could cause this fee to be increased immensely in some cases in order to maintain stability and to compensate for the fluctuations.

Buy Dai in the USA

Is it worth buying Dai? The Dai coin provides a central problem of all cryptocurrencies, namely the considerable fluctuations in exchange rates. Due to the volatility, it is difficult to keep values and prices constant. Bitcoin is a prime example of this, but other currencies, even those with a high market share, were very volatile. For use in practice, as a means of payment, for loans or insurance, this makes cryptocurrencies unsuitable - because the corresponding amounts would have to be continuously adjusted.

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