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Convert
Indian Rupee (INR) to Dai (DAI) Instantly

INR INR
DAI DAI
Buy Dai (DAI)

Purchase Dai (DAI) with Indian Rupee (INR) easily at Switchere and benefit from fast, secure transactions.

About
Dai (DAI)

DAI (DAI) stands as a pioneering decentralized stablecoin soft-pegged to the US Dollar, operating on the Ethereum blockchain as an ERC-20 token. Its primary purpose is to provide a censorship-resistant and transparent digital asset that maintains a stable value, offering a crucial building block for the decentralized finance (DeFi) ecosystem. Governed by the MakerDAO community through the MKR governance token, DAI's stability is achieved through a sophisticated system of over-collateralization. Users generate DAI by locking up approved crypto assets, such as ETH or WBTC, into smart contracts known as Maker Vaults (formerly Collateralized Debt Positions or CDPs). This process ensures that every DAI in circulation is backed by a greater value of collateral, mitigating volatility risks.

The core technology relies on Ethereum's smart contract capabilities to manage these Vaults, automate liquidations if collateral value drops below a certain threshold, and maintain the peg through various stability mechanisms, including Stability Fees and the Dai Savings Rate (DSR). The DSR allows DAI holders to earn yield on their holdings directly on-chain. DAI's utility token function is primarily as a stable medium of exchange, a unit of account, and a store of value within countless DeFi applications, including lending protocols, decentralized exchanges, and yield farming strategies. As one of the most widely integrated crypto-backed stablecoins, DAI is a foundational element of Web3 infrastructure, enabling peer-to-peer transactions and complex financial instruments without reliance on traditional intermediaries.

Dai (DAI)
How to Buy Dai (DAI)

How to Buy Dai (DAI)

swipe Step-by-step guidance
card Easy credit card payments
btn Streamlined purchase process
  1. Step 1 illustration
    01

    Choose INR to DAI Pair

    Select your preferred payment method and enter the amount.

  2. Step 2 illustration
    02

    Enter Your Dai Wallet Address

    Provide your DAI wallet address and proceed with the payment.

  3. Step 3 illustration
    03

    Receive Your Dai

    Complete the payment, and your DAI will be sent to your wallet.

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ICP
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IOST
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JASMY
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JST
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KAVA
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LQTY
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LUNA
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XEM
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NEXO
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NOT
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OKB
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OMG
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ONT
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RLC
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SKL
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SXP
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STND
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STG
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INR
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USDTBEP20
INR
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USDTSOL
INR
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USDTNEAR
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USDTXTZ
INR
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USDTTRC20
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USDTTON
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XTZ
INR
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GRT
INR
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SAND
INR
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TFUEL
INR
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THETA
INR
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RUNE
INR
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TONCOIN
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TUSDBSC
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Frequently asked questions

  • What is the INR to DAI pair and why is it significant?

    The INR/DAI pair represents the exchange rate between the Indian Rupee (INR) and Dai (DAI), a decentralized stablecoin on the Ethereum blockchain. Its significance lies in providing a direct fiat on-ramp from INR to a transparent, crypto-collateralized digital asset. Unlike centralized stablecoins, Dai's value is maintained through the MakerDAO protocol's system of smart contracts and collateralized debt positions, which are fully auditable on-chain, making it a key component in the DeFi ecosystem.

  • What are the common payment methods to buy DAI with INR in India?

    To purchase the DAI digital asset with Indian Rupees, most users rely on local cryptocurrency exchanges that have integrated Indian payment systems. The most prevalent methods include UPI (Unified Payments Interface) for instant transfers, bank transfers via IMPS or NEFT, and Peer-to-Peer (P2P) trading platforms. These fiat gateways require users to complete KYC/AML compliance checks before they can deposit INR and place an order on the INR/DAI order book.

  • After converting INR to DAI, how do I securely store my DAI tokens?

    For maximum security, you should transfer your DAI, an ERC-20 token, from the exchange to a non-custodial digital wallet where you control the private keys. Options include browser-based wallets like MetaMask, mobile wallets, or hardware wallets for the highest level of security. This practice protects your digital assets from exchange-related risks. Always enable two-factor authentication (2FA) on your exchange account and double-check the Ethereum address before initiating a withdrawal.

  • What is the utility of DAI within the Decentralized Finance (DeFi) ecosystem?

    DAI is a foundational asset in DeFi due to its decentralization and stability. It is widely used as collateral for loans, for lending to earn interest on platforms like Aave and Compound, and as a stable unit of account in decentralized exchanges (DEXs). Users can also lock their DAI in the Dai Savings Rate (DSR) contract within the Maker protocol to earn a native yield, making it a versatile tool for yield farming and preserving value within the on-chain economy.

  • Are there specific regulatory considerations when trading INR for DAI?

    Yes, all transactions involving the Indian Rupee (INR) on domestic cryptocurrency exchanges are subject to Indian regulations. This includes mandatory KYC (Know Your Customer) and AML (Anti-Money Laundering) checks. Furthermore, profits from cryptocurrency trading, including the INR/DAI pair, may be subject to taxation as per the current laws in India. It is crucial to use a compliant exchange and stay informed about the evolving regulatory landscape for digital assets.
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