5 Reasons to Buy Maker in India
– The value of Maker could increase as the tokens are burned from time to time.
– It is built on Ethereum and is an ERC-20 token.
– The structure of this coin is very strong, and its security is top-notch.
– It has a market capitalization of more than $3.5 billion.
– It has a maximum supply of 1 million coins.
What is Maker?
Maker token was launched in 2015, a year after MakerDAO was created by the founding team.
It was launched as a governance token for the DAI system and to support the stability of the DAI token. People who are holding MKR have the right to draft decisions on the future of the system. To maintain the stability of the DAI coin, a Maker token is used, which prevents fluctuations in price. The tokens are created when the price of ETH falls, thus acting as collateral for the DAI coin.
3 Things to know while Investing in Maker (mkr)
– It provides voting rights to users to participate on the MakerDAO platform.
– It is one of the two tokens of the MakerDAO ecosystem that is also known as the governance token.
– It helps to provide stability to the DAI stable coin.
Maker could also be bought directly through Peer to Peer (P2P) trade. There is always an option to buy from a decentralized exchange (DEX) or from anyone who already possesses the cryptocurrency. But the problem that arises in going through this route is the complex functionality of these exchanges and also to find a trustworthy seller who can provide you Maker.
Therefore, this route is mostly taken by the Pro traders.
For an easy and simplified experience, you can Download CoinSwitch Kuber and buy cryptocurrency with just a click!
You can buy Maker in just 4 steps on CoinSwitch Kuber:
- Open CoinSwitch Kuber, click on the Market tab from the bottom navigation, and select Maker.
- Click on the ‘Buy’ button.
- Enter the amount that you would like to buy Maker for, say ₹100, and click on the ‘Preview Buy button
- Check all the details of your order and proceed by clicking ‘Buy.’
Congratulations, you just bought your first Maker!
There is no specific price to purchase any cryptocurrency because of the changes and developments being done on a regular basis. With even a small change, the price could increase significantly, which will make you regret not buying at lower prices.
Instead, you can invest small amounts periodically and balance the opportunity and risk. Start investing in Maker for as low as ₹100
There is no available answer for starting your investments because the value increases over time. If you are someone who plans to buy at lower prices, you may be missing the opportunity of gaining returns around this time. It’s always better to start investing from Day 1.
Start with small amounts and use them over a period of time; however, you can always choose to invest a lump sum amount when Maker (MKR) is available at an undervalued price.
Maker is available on a variety of platforms, but it is the experience that matters. Just as some food delivery applications provide a one-click process, and some make it a 5-minute work to fill in all the details again.
The market is full of cryptocurrency apps that are too complex and can make your buying experience horrible; however, CoinSwitch Kuber allows you to buy cryptocurrencies easily and
remove all the hassles.
Disclaimer :The content of this article is for informative purposes only. It is not intended as a substitute for investment/ financial advice. If You decide to act upon this information, You shall do it at your own risk. While such video/ article has been verified, it depends on third-party sources too, and CoinSwitch Kuber does not guarantee that there are no mistakes or errors nor does CoinSwitch Kuber represents the views presented in such article to be it’s own.