DAI-ing to get acquainted

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DAI was created in 2017 by decentralised autonomous organisation (DAO), Maker, and is considered one of the first examples of decentralised finance to achieve mainstream usage. Like many stablecoins, its value is pegged to the US dollar by a system of smart contracts and decentralised governance.

Fun fact? According to founder Rune Christensen, the name DAI comes from the Chinese character for ‘to lend or provide capital for a loan’.

Here’s how to buy DAI in-app:

  1. Select your DAI account.

  2. Tap Add Funds.

  3. Choose a linked credit or debit card, or link a new one.

  4. Enter the amount you want to add and confirm - done!

What else can you do with DAI?

  • Buy it instantly in-app with your credit or debit card.

  • Exchange it with any of our wide range of cryptocurrencies, at exclusive OTC rates.

  • Earn up to 20% AER on it by moving it into an X-Account.

  • Earn up to 8% Cryptoback™ rewards whenever you spend it with your Wirex card.

  • Send it to your friends for free using the quick and easy Send Money to Contacts feature.

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