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Ukrainian Hryvnia (UAH) to Dai (DAI) Instantly

Purchase Dai (DAI) with Ukrainian Hryvnia (UAH) easily at Switchere and benefit from fast, secure transactions.

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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)

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How to Buy Dai (DAI)

  1. Select currency menu

    Choose UAH to DAI Pair

    Select your preferred payment method and enter the amount.

  2. Crypto address page

    Enter Your Dai Wallet Address

    Provide your DAI wallet address and proceed with the payment.

  3. Confirmation page

    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 UAH to DAI pair and why is it important?

    The UAH to DAI pair represents the exchange rate between the Ukrainian Hryvnia and the Dai stablecoin. It's a crucial fiat on-ramp for Ukrainian users to enter the decentralized finance (DeFi) ecosystem. By converting UAH to DAI, an ERC-20 token pegged to the US Dollar, users gain a stable digital asset on the Ethereum blockchain, ideal for interacting with smart contracts and DeFi protocols without the volatility of other cryptocurrencies.

  • How does Dai's decentralized nature affect UAH transactions?

    While the initial UAH purchase occurs on a centralized exchange, Dai's core nature as a decentralized stablecoin is a key benefit. Unlike centralized stablecoins, Dai is not controlled by a single entity. It's managed by the MakerDAO protocol and backed by on-chain crypto collateral, visible to anyone. This transparency and censorship resistance mean that once you hold DAI in your personal digital wallet, your asset is not subject to the same single-point-of-failure risks as centrally issued tokens.

  • Is KYC verification mandatory for purchasing DAI with Ukrainian Hryvnia?

    Yes, for almost all regulated cryptocurrency exchanges that offer fiat on-ramps like UAH, KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures are mandatory. Users are required to submit identification documents to verify their identity before they can deposit fiat currency and trade. This is a standard security measure to prevent illicit activities and comply with financial regulations.

  • What are the common methods to buy DAI with UAH?

    To buy DAI with UAH, you typically use a cryptocurrency exchange that supports this specific fiat gateway. The most common methods include direct bank transfers from Ukrainian banks, such as via Privat24 or Monobank, or using debit/credit cards. After completing the platform's KYC/AML verification, you can deposit UAH into your account and place an order on the UAH/DAI order book to acquire the Dai stablecoin.

  • What kind of fees should I expect when converting UAH to DAI?

    There are typically two main types of fees. First, the cryptocurrency exchange will charge a transaction fee, often a small percentage of the trade value. Second, your payment provider for the UAH deposit (e.g., bank or card issuer) might charge its own fee. After acquiring DAI, if you move it from the exchange to a personal wallet, you will also need to pay an Ethereum network gas fee, which is variable and depends on network congestion.

  • After buying DAI with UAH, what are its main uses in the crypto ecosystem?

    DAI is a cornerstone of the DeFi ecosystem. Once acquired, it can be used to: 1) Lend on protocols like Aave or Compound to earn interest. 2) Provide liquidity to decentralized exchanges (DEXs) and earn trading fees. 3) Use as collateral to borrow other digital assets through the MakerDAO protocol itself. 4) Act as a stable store of value within a digital wallet, protecting against the price swings of volatile cryptocurrencies. Its nature as a decentralized ERC-20 token makes it highly interoperable.

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