Dai (DAI)

What is DAI?

Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, DAI isn't backed by US dollars in a bank account. Instead, it’s backed by collateral on the Maker platform. 

What products support DAI?

    Send/Receive Trading
Coinbase            ✔      ✔
Pro            ✔      ✔
Wallet            ✔     ✖️

What regions support DAI?

    US  NY CAN  EU  UK SG DE JP
Coinbase     ✔  ✔    ✔   ✔  ✔  ✔  ✔ ✖️
Pro     ✔  ✔    ✔   ✔  ✔  ✔  ✔ ✖️
Wallet   ✔  ✔    ✔   ✔  ✔  ✔  ✔ ✖️

Crypto to fiat trading pairs

   US UK EU
USD   ✔ ✖️ ✖️
GBP  ✖️ ✖️
✖️
EUR  ✖️ ✖️ ✖️

Note: Coinbase Wallet does not support direct bank transactions. You’ll need to transfer your crypto to Coinbase.com or send it to an external address in order to cash out.

Crypto to crypto trading pairs

  USDC BTC ETH USDT
DAI      ✔   ✖️   ✖️   ✖️

See the full list of countries that Coinbase supports for crypto-to-crypto trading.

Note: Only assets hosted on the Ethereum blockchain can be converted through the Coinbase Wallet mobile app at this time. Learn more about trading on Coinbase Wallet.

How many confirmations are needed for DAI?

DAI requires 35 network confirmations. Learn about transaction confirmations.

Which blockchain network hosts DAI?

DAI is hosted on the Ethereum blockchain.

What are the minimum and maximum withdrawal amounts?

Coinbase has implemented safeguards to ensure a healthy and efficient network both on-chain and through our platform.  

These safeguards include both minimum and maximum amounts for each cryptocurrency we allow customers to send through the blockchain.

There is a withdrawal minimum of 0.01 Dai (DAI) and a maximum of 1,200,000 to send from Coinbase to an external address.

Was this article helpful?

Can’t find what you’re looking for?

Contact us