Is DAI coin legal? how to buy?

The full name of DAI coin in English is Dai Stablecoin. It is a stable currency on the Ethereum blockchain issued by MakerDAO. Its value is usually pegged to the US dollar, allowing it to remain stable in the face of large market fluctuations. But for investors, the most important thing when trading cryptocurrency is legality. Is this DAI coin legal? Just what investors are concerned about is that DAI is legal in most countries. Since it is legal and a stable currency, using it as a safe-haven asset is also an option for investors, but there are still people who don’t know how to buy DAI coins? The main way to buy DAI coins is to buy them on the exchange. The editor will explain it in detail below.

Is DAI currency legal?

**Legal Status of DAI Coin** **Preface** DAI is legal in most countries, but specific laws and regulations vary from country to country. **Influencing factors** The legality of cryptocurrencies largely depends on the country’s regulatory policies and stance on digital currencies. **State Supervision** Some countries may enact regulations to regulate the use, trading and issuance of cryptocurrencies. **Legal Advice** Regarding the specific legal status of DAI coins, it is recommended to consult local financial regulators or legal advisors to obtain the most accurate and up-to-date information.

**DAI: Stablecoin backed by asset collateral** DAI is a stablecoin backed by full asset collateral and aims to always maintain a stable 1:1 exchange rate with the US dollar. Its value stability comes from a series of financial incentive mechanisms. Unlike traditional stablecoins, DAI is completely built on the blockchain, is not subject to geographical restrictions, and does not need to rely on any trustworthy third party. All circulating DAI is backed by excess collateral, which is securely stored in open and auditable Ethereum smart contracts.

Once DAI is generated, it can be used like any other cryptocurrency: * **Send and Receive:**DAI can be freely sent to others as easily as sending an email. * **Purchasing Goods and Services:**More and more merchants accept DAI as a payment method, making it a convenient way to shop. * **Hedge against volatility: **DAI’s value is pegged to the U.S. dollar, making it a stable instrument against market volatility.

How to buy DAI coins?

**Guide to Buy DAI Coin** **Purchase method:** DAI coins are mainly purchased through exchanges. Currently, DAI currency has been listed on 35 exchanges, including: Oyi, Binance, Huobi, etc. **Tutorial on purchasing DAI coins on Eureka Exchange:** 1. **Register an account:** Visit the official website of Eureka Exchange and register an account. 2. **Verify identity:** In order to improve security, identity verification needs to be completed. 3. **Recharge legal currency: **Recharge legal currency to the Ouyi account through bank card, Alipay or other methods. 4. **Select a trading pair:** Find the DAI/USDT or DAI/BTC trading pair in the trading market. 5. **Place an order to purchase:**Select the purchase option, enter the purchase quantity and unit price, and click "Buy". 6. **Complete the transaction:** After the order is completed, DAI coins will be deposited into your Oyi account.

1. Open the official website of OKX Exchange (click to register), enter your email address on the homepage, and click "Register"

2. Slide the slider to the right, complete the puzzle for verification, and then enter the verification received by email code, the verification code is valid for 10 minutes

3. Then enter the mobile phone number and click "Verify Now"

4. Enter the six-digit verification code received on the phone, the validity time is also 10 minutes

5. Select your country/region of residence, check the Terms of Service, "Risk and Compliance Disclosure" and Privacy Policy and Statement

6. Create a password that must be 8-32 characters in length, 1 1 lowercase letter, 1 uppercase letter, 1 number, 1 symbol, such as: !@ # $ % and other conditions

7. After logging in to the account, find the "User Center" icon on the homepage and enter the identity authentication page

8. Different levels of authentication can be carried out according to different needs (note: video authentication needs to be operated on the APP)

9. You need to have USDT before conducting transactions. You can buy coins for transactions in C2C. Select the appropriate merchant according to your needs, click "Buy", then pay according to the prompts and wait for the merchant to release the coins (if you have not received the currency for a long time, you can Contact customer service for processing)

10. Click "Transaction" - "Coin" on the homepage to enter the transaction page

11. Enter DAI in the search box, select the DAI/USDT trading pair, you can see DAI real-time market price

12. Enter the amount of DAI to buy and click to buy DAI

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