DAI (Full Name: Dai Stablecoin)

DAI is a stablecoin issued by MakerDAO on the Ethereum blockchain. Its value is generally pegged to the U.S. dollar, allowing it to remain relatively stable even when market volatility is high. For investors, the most pressing questions are usually about legality—Is DAI legal?—and about the acquisition process—How can I buy DAI? The following sections provide a thorough explanation.

In this article we outline the legal character of DAI as a mainstream stablecoin and break down the purchase pathway step by step. By deeply analysing the regulatory environment and the technical mechanisms, we help you assess its compliance and acquire it safely. For the details, keep reading.

Legality of DAI

DAI is regarded as a legitimate crypto‑asset in most jurisdictions, but the exact legal framework varies from country to country. Generally, the legality of a cryptocurrency depends on the stance and policies of the local financial regulator toward digital assets. Some jurisdictions have enacted specific legislation that governs the use, trading, and issuance of crypto‑assets. If you need to confirm the legal status of DAI in your region, it is advisable to consult the relevant financial supervisory authority or a qualified legal professional.

DAI is a stablecoin that is backed by over‑collateralised assets. It employs a series of financial incentive mechanisms that keep its price at a 1:1 ratio with the U.S. dollar. Because DAI runs entirely on a public blockchain, its stability is not tied to any particular geography, and its solvency does not rely on a trusted counter‑party. Every DAI token in circulation is under‑pinned by excess collateral that is stored in transparent, auditable Ethereum smart contracts that anyone can inspect.

Once minted, DAI can be used just like any other cryptocurrency: it can be transferred freely, spent on goods and services, or held as a hedge against market fluctuations.

Tax reminder: In many jurisdictions, gains from the sale or exchange of crypto‑assets, including DAI, may be subject to capital‑gains tax or other forms of taxation. Please consult a tax adviser familiar with the rules in your local jurisdiction.

How to Purchase DAI

At present, DAI is listed on a large number of exchanges—such as OKX, Binance, Huobi, and a total of 35 platforms worldwide. Below we use OKX (formerly known as OKEx) as an example to illustrate the purchase workflow.

1. Visit the OKX website and click [Register] (https://www.okx.com/zh-hans/join/B2345). On the homepage, enter your email address and click “Register.”

1. Complete the slider puzzle captcha, then input the verification code sent to your email (the code is valid for 10 minutes).

1. Enter your mobile phone number and click “Verify Now.”

1. Input the 6‑digit SMS code you received (also valid for 10 minutes).

1. Choose your country/region of residence, then tick the boxes for the Terms of Service, Risk & Compliance Disclosure, and Privacy Policy & Statement.

1. Set a login password. The password must be 8‑32 characters long and contain at least one lowercase letter, one uppercase letter, one numeral, and one special symbol (e.g., ! @ # $ % etc.).

1. After logging in, click “User Center” on the homepage to access the identity‑verification section.

1. Complete the appropriate verification level according to your intended activity (video verification must be performed within the app).

1. Before you can trade, you need to have USDT in your account. In the C2C (peer‑to‑peer) buying section, select a suitable seller, click “Buy,” follow the payment instructions, and wait for the seller to release the tokens. If the transfer takes an unusually long time, contact the platform’s customer support.

1. From the homepage, click “Trade” → “Spot” to open the trading interface.

1. In the search bar type DAI and select the DAI/USDT trading pair to view the real‑time market price.

1. Enter the amount of DAI you wish to purchase, confirm the details, and click “Buy.” The transaction will be executed and the DAI will be credited to your wallet.

The steps above answer the two core questions: “Is DAI legal?” and “How can I buy DAI?” As a stablecoin, DAI’s exchange rate is comparatively stable against highly volatile assets such as Bitcoin, making it less sensitive to market swings. It can be employed in decentralized finance (DeFi) protocols, cross‑border remittances, and digital‑asset settlement scenarios. As the DeFi ecosystem continues to expand, the use‑cases for DAI are expected to broaden, potentially driving further progress in the digital economy.

Important reminder: Although DAI is designed to be a stablecoin, it still carries inherent risks typical of crypto‑assets. Investors should conduct their own due diligence and act prudently.

Note for U.S. residents: When accessing Binance services, be sure to use Binance.US rather than the global Binance platform, as the latter is not available to U.S. users. For fiat deposits or withdrawals, you may use USD transfers via SEPA (for Euro‑based accounts) or SWIFT networks, depending on the exchange’s supported methods.

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