DAI now available at Bitso

At Bitso, we offer cryptocurrencies that generate blockchain-based use cases. That’s why we’re thrilled to announce that we’ve added DAI to Bitso.

IMPORTANT

• Deposits and withdrawals in DAI will be available at 11:00 A.M. on Tuesday, March 31, 2020.
• The BTC/DAI and DAI/MXN markets will open on Friday, April 3rd at 11:00 A.M.
• For the launch, we’ll be offering discounts on all exchanges fees in the BTC/DAI books for a limited time only.
• During our launching period, you can only place limit and stop-limit orders. Market and stop-loss orders will be enabled soon.
• The purchase and sale of DAI in the Bitso app will be enabled when stop-loss market orders are available.

DAI is a cryptocurrency linked to the value of the US dollar. As part of MakerDAO’s smart contracts protocol and products, DAI gives access to decentralized financial products (DeFi) ranging from savings instruments to loans. DAI is built on the Ethereum network to facilitate transactions and uses ETH and other ERC-20 tokens to back its value and peg it to USD, giving it a 1:1 ratio.

By interacting with DAI, you can take advantage of all its functionalities. You can save and generate interest, have access to decentralized loans, and be able to pay for goods and services based on the value of the US dollar, all of these with the benefits of instant transactions. There is a whole DeFi network out there getting built, as it builds expect blogs with more details about decentralized finances (DeFi) with DAI.

One feature that makes DAI and MakerDAO great use cases in the crypto industry is their efforts with decentralization in both technology and governance led by MakerDAO–DAI’s parent company. Decentralization is an important concept in cryptocurrency because it means having total control over your finances and eliminating the need to rely on unknown and non-transparent third parties. Additionally, all transactions performed through decentralized blockchains are pseudonymous, and yet public to anyone who wishes to look. Like the Bitcoin Blockchain, each transaction recorded on the Ethereum blockchain has an alphanumeric wallet address–no names on the blockchain. However, the permanency of this public record brings all actors within the investment space to a new standard of auditing.

In Bitso, you can buy DAI with Mexican pesos (MXN) and with bitcoin (BTC) in the DAI/MXN and BTC/DAI market books. In Argentina, our users can purchase DAI in the BTC/DAI market.

DAI is one of the most innovative projects in the decentralized finance industry and Bitso will continue working hand in hand with MakerDAO to bring more financial inclusion services to Latin America.