Dai

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There are many crypto casinos in the iGaming industry and most of them are accepting DAI payments. This makes it a much-desired token by the players who are interested in crypto gambling.

But, there is more to DAI that makes it so popular on the market. Here we will cover the most important features that you should know about it and the online casinos that accept it.

About DAI

DAI is a well-known stablecoin that uses the Ethereum blockchain network to conduct transactions. This cryptocurrency is keeping its value as close as possible to the US dollar. It uses a system of decentralized participants incentivized by smart contracts to execute governance and maintenance operations.

The goal of DAI is to lower the fluctuation of its value, which is a serious problem for most cryptocurrencies. Its value may change as much as 10% from time to time, but it tends to correct itself rather quickly.

MakerDAO is a decentralized and autonomous organization (DAO) that maintains and regulates DAI. Its members are actually the owners of its governance token, MKR, who can propose and vote for changes in certain parameters. With their actions taken to ensure the stability of DAI.

This cryptocurrency appeared in 2017, taking the name based on a Chinese letter. Rune Christensen, the founder of MakerDAO, translated it as “to lend or to provide capital for a loan”.

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Benefits of DAI at Casino Sites

There are numerous advantages to using this cryptocurrency at casino sites. As a stablecoin, you won’t need to worry about losing money if the value of your tokens decreases. This is something that isn’t possible with the majority of cryptocurrencies.

Depositing and cashing out at the DAI Casinos is super fast. You won’t even pay any additional fees imposed by the operators. However, there are some very low fees that come as part of using the Ethereum network.

Blockchain technology is making sure that you get the much-needed online anonymity. You don’t need to reveal any personal data to purchase or sell DAI tokens.

This well-structured system is also making sure that all transactions are safe and secure. But, you still need to register a casino account at a legit gambling platform. Make sure to find a licensed casino site that utilizes the latest security technology.

DAI also gives you a chance to generate a passive income. This is possible through the savings in the MakerDAO smart contacts.

Last but not least, with DAI you get to enjoy the benefits of the casino bonuses. The DAI casinos are allowing their players to apply for any available promotion when using this cryptocurrency. Just make sure to read the terms and conditions before you do that.

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Pros

  • The value of DAI doesn’t fluctuate as the other cryptocurrencies.
  • DAI is a highly secure and transparent cryptocurrency.
  • There are numerous good online casinos that accept DAI.
  • Deposits and withdrawals are instant with DAI.
  • You get complete anonymity when using DAI.

Cons

  • Not possible to take advantage of the market volatility.
  • You cannot mine DAI tokens.

FAQ

Rune Christensen is the founder of MakerDAO, which created DAI. This cryptocurrency first appeared in 2017.

DAI is a stablecoin, meaning that it keeps its value as close as possible to the US dollar. It also has the same features as any cryptocurrency that operates on the market.

No, DAI does not have its own blockchain network. It conducts transactions using the Ethereum network just like many other cryptocurrencies.

Cashing out from a DAI Casino is almost instant. On certain occasions, it may take up to a few minutes, which is still pretty fast.

No, DAI’s exchange rate cannot change. However, as the rate is 1:1 with the US dollar, it can change if the value of the fiat currency increases or decreases.

profile - chris
profile - chris

Chris GrandGaming Expert

Hi everyone, I’m a huge slots fan. I’ve been spinning for over a decade and have plenty of experience when it comes to slot machines. My other passion is writing, and I combine the two to give you clean and transparent guides and reviews that I hope you find helpful.

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