How to Buy Maker (MKR)

Are you looking to help operate and maintain the DAI stablecoin?

The Maker Protocol leverages the Ethereum blockchain to operate the MKR cryptocurrency, a token used to govern how changes to the protocol that keeps DAI operating are made. For example, MKR token holders can vote on which cryptocurrencies can be locked and collateralized in the Maker protocol to access DAI. Among other use cases, users can buy Maker (MKR) to vote on Maker protocol updates.

Still wondering if you would want to buy MKR? You can head over to our Learn Center and read our What is Maker? guide to find out more about the project’s technology and vision. 
 

If you want to play a role in determining key decisions on how the Maker Protocol operates, then you might be interested in purchasing MKR.

There are a number of ways to buy MKR, including purchasing it through a trusted global exchange like Kraken. 

Kraken is constantly rated one of the most secure and trusted crypto exchanges in the world while also offering the lowest fees in the industry. This matters because if you self-custody your crypto assets and lose the private key to your MKR, it can be challenging, if not impossible, to recover your funds. 

At Kraken, we take security seriously, with tested technology and rigorous procedures designed to safeguard funds. We don’t cut corners when it comes to security, and neither should you. 

Follow the steps below to start buying MKR on Kraken: 

1. Sign up for a Kraken account.
   Enter an email address, username and a strong password to protect your account.

2. Verify your account. 
   After providing your name, date of birth, country of residence and phone number, you can deposit crypto to buy MKR and other cryptocurrencies like BTC and ETH. In order to use cash (i.e. USD, EUR or CHF), you’ll need to provide our experts with additional documents verifying your identity. Read about our verification processes here. 

3. Add funds or a payment method to your account
   We support multiple funding and payment methods, whichever you choose will be based on your location and preferences. 

4. Purchase MKR!
   Once your account is funded with cash, you’re ready to buy MKR. You’ll also get access to our advanced charting tools, 24-hour global client support and futures trading*. All of these features are why millions of global traders love Kraken.

Note: Trading MKR is not available to residents of the USA, Canada, Australia and Japan at this time.

*Trading futures, derivatives and other instruments using leverage involves an element of risk and may not be suitable for everyone. Read Kraken’s risk disclosure to learn more.

 

Once you buy MKR, you’ll need somewhere to safely store your cryptocurrency. 

Kraken is secure, but it’s always safest to keep your MKR in a wallet, a software or hardware device that stores the public and private keys required to make crypto transactions.

Maker is a platform built on top of Ethereum, meaning MKR can be stored in an Ethereum wallet, of which there are many. Mobile and web wallets can make transactions easy, while hardware wallets are perhaps best suited for secure, long-term storage. 

When choosing a crypto wallet for your MKR, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.

Ready to take the next step towards operating and maintaining a crypto-collateralized stablecoin? Click the button below to buy MKR on Kraken today!