What is DAI and how is it used on Coinbase?

3 answers

• MarmikFeb 07, 2024 · 2 years ago
  DAI is a stablecoin that is pegged to the value of the US dollar. It is an ERC-20 token on the Ethereum blockchain, which means it can be stored in any Ethereum wallet. On Coinbase, DAI can be used for various purposes such as trading, sending and receiving payments, and earning interest through DeFi platforms. It provides users with a stable and decentralized alternative to traditional fiat currencies.
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• Arif ShaikhOct 01, 2021 · 5 years ago
  DAI is like a digital version of the US dollar, but with the added benefits of being decentralized and transparent. It is used on Coinbase as a way to store value and make transactions without the volatility often associated with other cryptocurrencies. Users can buy, sell, and trade DAI on Coinbase, and also use it to participate in decentralized finance (DeFi) applications.
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• Monisha GowdaNov 30, 2021 · 5 years ago
  DAI is a stablecoin that is widely used in the cryptocurrency industry. It is backed by collateral in the form of other cryptocurrencies, which helps maintain its stability. Coinbase is one of the leading cryptocurrency exchanges that supports DAI, allowing users to buy, sell, and store DAI securely. Additionally, Coinbase offers various features and services related to DAI, such as earning interest on DAI holdings and participating in decentralized lending and borrowing protocols.
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