What is Dai Stablecoin (DAI)?
Dai (DAI), created by MakerDAO and launched in 2017, is a decentralized, collateral-backed cryptocurrency soft-pegged to the US Dollar. Unlike other stablecoins backed by fiat in bank accounts, DAI is backed by collateral on the Ethereum blockchain. The creation and maintenance of DAI’s value are achieved through smart contracts. It aims to offer a stable and decentralized digital currency, free from volatility and directly pegged to a reliable fiat currency.
DAI is used in a wide range of blockchain-based applications, particularly in decentralized finance (DeFi), as it offers stability in an otherwise volatile cryptocurrency market. Its decentralized nature and resilience against price fluctuations make it an essential component of many DeFi protocols.
DAI is used in a wide range of blockchain-based applications, particularly in decentralized finance (DeFi), as it offers stability in an otherwise volatile cryptocurrency market. Its decentralized nature and resilience against price fluctuations make it an essential component of many DeFi protocols.
Why choose Rabbit Wallet for Dai Stablecoin?
Whether you're a total crypto newbie or a seasoned pro, Rabbit Wallet's got your back for
handling your DAI with ease. Check out some cool features that make Rabbit stand out:
Exchange Dai Stablecoin (DAI)
With the Rabbit's built-in coin swap feature, you can exchange your Dai Stablecoin for
any other coin at the best rates without ever leaving the cozy confines of your
wallet.
Self-Custodial
With a self-custodial wallet, you control the keys to your Dai Stablecoin, meaning that
nobody, not even Rabbit, can ever access your coins. This also leads to faster
transactions with no third-party fees except for miners and increased flexibility.
Optimal Fees
The unique fee calculation algorithms provide you with various options when
available, allowing you to choose the most optimal one to ensure your transaction is
confirmed both swiftly and cost-effectively.
User-Friendly
We've worked hard to make Rabbit Wallet user-friendly for everyone. Packed with
features, it suits users at all levels, and our developers respond directly when
help is needed.
How to use Rabbit Wallet?
Creating a new wallet takes just a few clicks, and requires no information from you.
Here is a short brief on how you can create your new wallet:
Here is a short brief on how you can create your new wallet:
Save your phrase
You will be given a phrase, which will act as a primary key to your wallet. Save it
securely.
Set your password
Password is required to both open your wallet, and to perform any transactions.
You are in!
Now you are all set to explore the crypto world! Welcome to freedom!
Friendly tip: Having your passphrase on a sticky note under a keyboard might not be the best way to
store it.