How to Sell DAI (Dai)
Looking to gain exposure to the price volatility of emerging crypto assets? If so, it may be time to sell or exchange your DAI.
A crypto asset unlike most others, DAI mirrors the value of the U.S. dollar but runs on a blockchain, meaning it provides the relative price stability of the U.S. dollar without the transfer delays that can be common when moving real dollars between bank accounts.
Whether you’ve been using DAI as a way to receive a loan, or are a trader that wants to gain exposure to other assets, Kraken allows you to sell DAI directly for ether (ETH) and other popular fiat currencies.
Our exchange also offers over 150 trading pairs, so depending on how you decide to sell DAI, you can gain exposure to a wide range of other assets.
For more information on how you can sell DAI if and when an opportunity presents itself, follow the steps outlined below.
Ready to start?
If you’re more advanced and looking to get right in and start trading, go ahead and sell some DAI!
New to crypto?
For more details on how DAI derives its value, read our official “What is DAI?” guide.
Why sell DAI?
Given the unique attributes of DAI, you may find buying and selling it becomes a powerful tool in your trading arsenal.
For example, you may want to sell DAI if you want to:
- Capture gains in times of sudden price movements
- Execute on a timely short-term trading strategy
- Fund trades quickly without waiting for fiat funds to transfer between banks
- Increase your portfolio’s exposure to more volatile crypto assets
- Settle your funds at the end of a trading session
How to sell DAI on Kraken
Found a trade you want to execute? Follow these simple steps below to sell DAI:
Sign up for a Kraken account.
You just need an email address, username and a strong password.
Verify your Kraken account.
All you need is your name, birth date, country of residence and phone number.
Send DAI to your Kraken Address
If you want to sell DAI for another cryptocurrency (like XLM or XRP), first you’ll need to create a deposit address in your Kraken account. Depositing DAI on Kraken is as easy as transferring it to any cryptocurrency address.
If instead you want to sell DAI for a fiat currency (like USD or EUR), you’ll need to send us identification and proof-of-residence documents. Learn more about our different verification levels here.
Once your account has received funding, you can begin selling DAI and other cryptocurrencies on Kraken.
Start selling DAI
Not seeing a timely trade? You can always continue holding value in DAI. If you do, be sure to bookmark our pricing page so you can spot opportunities when they arise.
If you have more technical questions about placing an order, you can also reach us on LiveChat or by email 24/7/365.