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Convert
Philippine Peso (PHP) to Dai (DAI) Instantly

PHP PHP
DAI DAI
Buy Dai (DAI)

Purchase Dai (DAI) with Philippine Peso (PHP) 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)

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

    Choose PHP 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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Frequently asked questions

  • What is the PHP/DAI trading pair and its significance in the DeFi space?

    The PHP/DAI pair represents a direct fiat on-ramp allowing users to convert Philippine Pesos (PHP) into Dai (DAI), a decentralized, USD-pegged stablecoin. Its significance lies in providing Filipinos direct access to the Ethereum DeFi ecosystem. Unlike centralized stablecoins, DAI's stability is maintained on-chain by the Maker Protocol through an overcollateralized system of crypto assets, making it a censorship-resistant digital asset for savings, lending, and interacting with dApps.

  • What are the most common payment methods in the Philippines for buying DAI?

    To convert PHP to DAI, users in the Philippines typically utilize P2P (peer-to-peer) markets on major cryptocurrency exchanges. The most prevalent local payment methods supported are digital wallets like GCash and PayMaya, as well as online bank transfers via InstaPay and PESONet. These options offer a fast and accessible fiat on-ramp, connecting traditional Philippine banking with the decentralized finance world where the ERC-20 DAI token operates.

  • How does Dai maintain its peg to the US Dollar when being bought with a fluctuating currency like PHP?

    The PHP/DAI exchange rate fluctuates based on the PHP/USD market rate. However, Dai's intrinsic value is not tied to PHP. Its soft peg to the US Dollar is managed autonomously by the Maker Protocol on the Ethereum blockchain. This is achieved through a system of overcollateralization, where users lock up volatile crypto assets (like ETH) in 'Vaults' to mint DAI. The protocol uses economic incentives and governance (via the MKR token) to ensure each DAI is backed by more than a dollar's worth of collateral, maintaining stability regardless of the fiat currency used for its acquisition.

  • Is KYC/AML verification required to purchase DAI with Philippine Pesos?

    Yes, in most cases. When using centralized cryptocurrency exchanges or platforms regulated by the Bangko Sentral ng Pilipinas (BSP) to on-ramp your PHP, you will be required to complete Know Your Customer (KYC) and Anti-Money Laundering (AML) verification. This compliance is standard for fiat gateways to prevent illicit activities. While some decentralized P2P platforms may have less stringent requirements, using a regulated service ensures a higher level of security for your transaction.

  • After acquiring DAI with PHP, what are its primary uses in decentralized finance?

    Once you hold DAI, it unlocks the entire DeFi ecosystem on Ethereum and other compatible blockchains. Primary uses include: 1) Earning yield through protocols like the Dai Savings Rate (DSR) or by supplying it to lending platforms such as Aave and Compound. 2) Providing liquidity to decentralized exchanges (DEXs). 3) Using it as a stable medium of exchange for trading other digital assets without exposure to volatility. 4) Serving as collateral itself within other DeFi protocols. This makes DAI a foundational building block for complex financial strategies on the blockchain.
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