Is DAI crypto a safe investment?

DAI is a stable coin that is pegged to the price of one US dollar.

The price of DAI is based on the crypto-to-fiat exchanges. This means that it doesn’t fluctuate as much as other coins do. Stable coins are usually backed by USD reserves and are used to provide stability in the cryptocurrency market.

DAI can be used to make payments, send money, and trade across different currencies with ease.

DAI has been launched by the MakerDao team in 2017 and currently has a market cap of around $10 billion USD. The idea behind it was to create a cryptocurrency that would serve as an alternative to other cryptocurrencies such as Bitcoin, which are volatile and can experience large price swings.

It is not backed by any government or organization which makes it a risky investment in some aspects.

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