Where and how to buy MakerDAO Stablecoin in French Polynesia
Step-by-step guide
Step 1: Create a Bitget account.
Step 2: Complete Bitget's identity verification.
Step 3: Place a MakerDAO Stablecoin order through any of the various payment options provided.
![Complete your payment on Bitget App image 1](https://img.bitgetimg.com/image/third/buy_crypto_bitget_app_en.png)
![Enter the bank card details to complete your payment on Bitget Website image 1](https://img.bitgetimg.com/image/third/buy_crypto_en.png)
![Complete your payment on Bitget App image 2](https://img.bitgetimg.com/image/third/complete_your_payment_on_bitget_app_en.png)
![Enter the bank card details to complete your payment on Bitget Website image 2](https://img.bitgetimg.com/image/third/payment_bitget_website_en.png)
![player.png](/how-to-buy/_next/static/media/player.7cdb5ddf.png)
![player.png](/how-to-buy/_next/static/media/player.7cdb5ddf.png)
![player.png](/how-to-buy/_next/static/media/player.7cdb5ddf.png)
Step 4:Monitor MakerDAO Stablecoin in your Bitget spot account
![Check your Assets](https://img.bitgetimg.com/image/third/check_your_assets_en.png)
Alternative methods to obtain MakerDAO Stablecoin in French Polynesia
Convert crypto to MakerDAO Stablecoin with Bitget Convert
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Swap on-chain assets to MakerDAO Stablecoin with Bitget Swap
Methods to obtain MakerDAO Stablecoin for free
![MakerDAO Stablecoin](https://img.bitgetimg.com/multiLang/coin_img/8e26118d7a63338cfef1116720c92e0e.png)
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Buy MakerDAO Stablecoin in a different country
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How to buy MakerDAO Stablecoin in other countries?
What can you do with MakerDAO Stablecoin?
![store.png](/how-to-buy/_next/static/media/store.58f81307.png)
Store/Hold MakerDAO Stablecoin
Many users hold on to their MakerDAO Stablecoin with the expectation of it increasing in value. You can store your DAI safely on your Bitget account or on our crypto wallet app BG Wallet, the most user-friendly and secure mobile wallet.
![sell.png](/how-to-buy/_next/static/media/sell.9e7aab8b.png)
Trade MakerDAO Stablecoin
You can trade MakerDAO Stablecoin for 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. Bitget offers many trading pairs for MakerDAO Stablecoin trading to meet your needs.
![trade2.png](/how-to-buy/_next/static/media/trade2.2db0b601.png)
Send MakerDAO Stablecoin
Yes, Bitget allows you to easily transfer value around the world, fast. You can buy MakerDAO Stablecoin online and send to anyone and anywhere with their MakerDAO Stablecoin address.
![send.png](/how-to-buy/_next/static/media/send.363baf3d.png)
Spend MakerDAO Stablecoin
You can also buy goods and services with your MakerDAO Stablecoin. More and more vendors and retailers accept MakerDAO Stablecoin every day.
![earn.png](/how-to-buy/_next/static/media/earn.36620fb5.png)
Donate MakerDAO Stablecoin
Bitget Charity accepts MakerDAO Stablecoin donations for global projects that aim to improve the lives of people in the bottom billion. You can donate MakerDAO Stablecoin so no one misses out on the growth made possible by blockchain.
![learn.png](/how-to-buy/_next/static/media/learn.9e8b8fb0.png)
Learn More About MakerDAO Stablecoin
You can read more in-depth articles on MakerDAO Stablecoin from Bitget Research and study how cryptocurrencies like MakerDAO Stablecoin work on Bitget Academy
Market stats to assist in determining optimal times for purchasing MakerDAO Stablecoin
What is MakerDAO Stablecoin (DAI)?
MakerDAO is one of the backbone projects of Decentralized Finance (DeFi), first introduced in 2015 after the launch of Ethereum’s first mainnet. It took the developer team two years to build the architecture that enables the creation of DAI Stablecoin. DAI Stablecoin is not just another stablecoin. DAI is governed by the first well-respected Decentralized Autonomous Organization (DAO), which in turn assures its decentralized nature and unbiasedness.
MakerDAO also laid the foundation for lending and borrowing activities on the Ethereum blockchain. The idea behind DAI Stablecoin and MakerDAO is to reduce involvement of financial middlemen and facilitate access to loans.
Backed By Cryptocurrencies
Even though DAI Stablecoin’s value is pegged to the US-Dollar at the 1:1 ratio, its design does not require physical reserve like USDT or USDC. MakerDAO allows borrowers to generate DAI, i.e. borrow stable digital money, upon depositing collaterals. According to MakerDAO’s Oasis app, the four types of collaterals supported include Ethereum (ETH), Wrapped Bitcoin (WBTC), ETH-Staked ETH Liquidity Pair on Curve v1 (CRVV1ETHSTETH), Wrapped stETH (WSTETH) and more than 10 other cryptocurrencies.
Algorithmic Stablecoin
DAI Stablecoin is the only stablecoin able to maintain its US1.00 valuation throughout the course of its existence. The smart contract design of MakerDAO decides which collaterals to be accepted, the corresponding collateral ratio, and the burn (destroying) of DAI when loans are repaid, hence the control of DAI circulating supply and its value.
Secured Lending
Default risk is the major concern of lenders. The key element in DAI Stablecoin design is the overcollateralization, meaning the ratio between collaterals and the amount of DAI to be issued must always be higher than 100%. That requirement directly targets the volatility of cryptocurrencies’ value, hence maintaining the peg between DAI and USD as well as ensuring the value of lenders’ assets.
How MakerDAO Stablecoin (DAI) Works
1. Taking out a loan:
Here is the DAI issuance process, simplified: Borrower deposits collateral, activating the minting of new DAI Stablecoins. When borrower returns the original amount of DAI (please note here that due to potential arbitraging activities, borrower may have earned more DAI than the original amount and will obviously have the right to keep the difference), collaterals will be returned to the borrower and the returned DAI will be destroyed to avoid excessive circulating tokens.
2. Liquidation:
In the case that borrower is unable to pay back the loan (in DAI) or the collateralization ratio falls below the required level, liquidation will take place. The overcollateralization rule says that the ratio between collateral and DAI must always be higher than 100%, for example 175% for wBTC. That means if you deposit US$175 in Bitcoin, you’ll receive a loan of US$100 in DAI, and the remaining US$75 is reserved for the extreme cases mentioned above. Anyone may trigger the liquidation function on the contract in order to protect the system from an impaired loan, and receive a percentage of the balance as a reward.
How Many DAI Tokens Are in Circulation?
According to CoinGecko, the current amount of DAI in circulation is 6,475,887,830 DAI (as of September 23, 2022). What is worth noting here is the maximum supply is also 6,475,887,830 DAI - that is, there is no fixed supply of DAI but DAI issuance and burn will depend on the lending activities. The excessive amount of DAI can be deliberately traded on centralized and decentralized exchanges.
How to Buy MakerDAO Stablecoin (DAI)
Consider selling or investing in MakerDAO Stablecoin (DAI)? It only takes 2 minutes to create an account on Bitget and start trading DAI.
Check out the available DAI trading pairs on Bitget!
Spot market
MegaSwap market
MakerDAO (DAI) Resources
Buy MakerDAO Stablecoin in French Polynesia with Bitget
How to safely store your MakerDAO Stablecoin
- Sign up and transfer DAI to your Bitget account.
- Alternatively, use Bitget Wallet as a self-custody solution for your DAI.
How to withdraw MakerDAO Stablecoin with Bitget's hassle-free withdrawal process
DAI to local currency
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