DAI Cryptocurrency
After the big cryptocurrency boom in 2017, many people started getting into cryptocurrencies.
One cryptocurrency that is getting a lot of attention on social media is called DAI. In this post, I will reveal all the facts about DAI cryptocurrency. Let’s take a closer look and learn more about it.
Overview of Dai Crypto
DAI is conducted using advanced blockchain technology. It is a decentralized cryptocurrency, which stands out for its unique structure and stability unlike volatile cryptocurrencies like Bitcoin and Ethereum.
If you invested in Bitcoin or Ethereum, which do you think is better based on your experience?
The most important aspect of a DAI is that it is collateral-backed. Users deposit various cryptocurrencies as collateral to create a DAI. Then, KYC (Know Your Customer) verification by official cryptocurrency financial institutions is needed.
DAI tokens are created based on the value of the collateral while maintaining a certain collateralization ratio for currency stability. It is not regulated by any central government and adjusts its price based on market supply and demand.
In a short period of time, DAI has developed ideas for its potential applications in decentralized finance (DeFi) applications where stability is essential for asset exchange, trading, generation, lending and borrowing.
DAI provides a safe haven for traders during cryptocurrency market volatility. It gets the name "stablecoin" because of its stability.
Is Dai Crypto a good investment?
In my opinion, investing in DAI Crypto is a wise move for several reasons. DAI prioritizes stable prices, making it safer compared to other high-risk cryptocurrencies.
DAI provides extreme strength, especially during volatile market times. It protects the interests of traders during the design of the mark.