Buying your first Dai can be stressful as you think of many things that can go wrong, but with a little help it will be easier than it looks.
Firstly, before choosing the right exchange for Dai is important to research enough information across the web for any alerts of fraud or security problems on the exchange. You can also use our exchanges tab for Dai where you can find a list of recommended exchanges.
Next, register with all your basic information. (first and last name, email, phone number,..)
After that, you’ll need to verify your identity with an ID card or passport, and finally you’ll set up a password and a phone number which will verify your identity when signing in or will help you with recovery in the case of a lost password.
If you would like to stay anonymous for your own reasons, some exchanges offer trading without disclosing private information. Some exchanges like Binance and Poloniex have a limit of withdrawal without verification but some are also unlimited (Etherdelta).
You’re all set! Now you can start buying Dai! Now choose the payment option that suits you the most. Each payment option has different fees which can range between 1-4%. Usually most exchanges will support card or bank transfer and some even paypal for deposits. For buying altcoins you’ll need to first buy or deposit Bitcoin or Ethereum for buying cryptos like ripple or monero. For withdrawals you’ll need to navigate in your exchange interface to a withdrawal request and fill in your bank account information.
Our top pick exchange for Dai would be Coinbase and with the best price of Dai is Coinbase, Ftx.