Cryptocurrency Introduction - $DAI
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Cryptocurrency - $DAI
Dai
DAI is the ERC20 token on the Ethereum blockchain, with a stable value of $1. It is also the key to the MakerDAO lending system. DAI is created when a loan is obtained on the MakerDAO. It is a currency that can be borrowed and paid back. The currency is designed to reduce the impact of cryptocurrency fluctuations on its value and stability.
One of the primary uses of DAI is as a stable hedge or counterbalance to the volatility of more popular crypto assets. DAI is also one of the most desirable crypto assets. Coinbase cards allow users to spend DAI and other crypto assets by converting cryptocurrency on their Visa card into fiat currency.
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