Buy, Sell, & Trade MKR
Exchange MKR with USD and Cryptocurrency
The cryptocurrency world involves many increasingly unique, interesting projects that are helping decentralized finance reach its full potential. Naturally, it is impossible not to mention MakerDAO and associated coins, MKR and DAI in this conversation. The MakerDAO ecosystem seeks to provide services such as lending and investment, and MKR plays a key role in the success of this system. Where DAI works as a stablecoin, MKR is a deflationary investment coin and governance token that any potential investor should know.
MKR is one of the two tokens that compose the MakerDAO ecosystem, which is based on the Ethereum blockchain. First of all, it benefits from the technological advantages of the Ethereum blockchain, but it also has its own unique qualities.
For instance, MKR ties into the function of DAI, the other MakerDAO coin. This system uses a combination of overcollateralized loans and smart contract functions to keep the price of DAI equal to $1 USD, providing a crypto-native stablecoin solution. Creating DAI creates MKR, a deflationary token that supports decentralized governance of MKR and DAI. Owning MKR does not only give you an investment asset. Rather, it also gives you the ability to make decisions that influence the coin’s future.
Even if governance does not interest you, though, MKR is worth considering its monetary investments. The program regularly uses proceeds from its collateralized loan program to buy and burn a certain amount of MKR, making it deflationary relative to DAI and fiat currencies. This shrinking supply translates into greater long-term scarcity and value, which means MKR is particularly suited to holding long-term. Market trends have also been favorable to MKR, as it moved from a low of around $21 in 2017 to a peak of more than $6000 in 2021.
Who created MKR?
Rune Christensen is the originator of MakerDAO and its associated coins. He reported conceptualizing MKR in 2014, at the same time that he formed MakerDAO. After three years of development, MakerDAO, MKR, and DAI launched on the Ethereum blockchain. MakerDAO’s tagline is “An Unbiased Global Financial System,” which speaks to its mission of creating a viable alternative to the centralized financial system.
How do I exchange and Trade Maker?
If you are looking to exchange and trade Maker, you have a few steps to consider taking. For one, you can earn it through the collateralized loan functions on MakerDAO that uphold DAI’s value. If you already have MKR, you can hold onto it or trade it for another currency. If you do not have MKR but want to get it and are not interested in earning it on the blockchain, you will have to trade for it.
First, you will need to choose an exchange that hosts MKR to open an account with. Most exchanges will allow you to trade with Bitcoin or major fiat currencies, but your exact options depend on the exchange you pick. If they do not support direct trades between MKR and the currency you want to trade with, you will need to make additional trades to procure the necessary currency. However, you can avoid this eventuality by easily exchanging MKR with Rubix.
Exchange MKR using Rubix
Rubix is an exchange that uses the latest encryption and security technologies to provide a peerless experience for customers. Furthermore, the innovative Rubix trading feature makes it easier than ever to buy the coins you want. Instead of making multiple trades to get the currency you want, you can exchange countless altcoins and cryptocurrencies directly and save transaction fees in the process.