How to Buy Dai (DAI) in the UK (2021)

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Binance is one of the cheapest ways that you can buy Dai (DAI) in the UK. You can deposit GBP with a simple UK bank transfer, where you’ll then be charged fees of up to 0.1% whenever you buy or sell any cryptocurrency.

However, there are a few other cheap places where you can buy Dai (DAI) in the UK with GBP.

Check out this quick post to learn more.

Where Is the Best Place to Buy Dai (DAI)?

This table quickly highlights some of the places where you can cheaply buy Dai (DAI) with a UK bank transfer, credit card, or debit card.

ProviderPayment MethodFees (Approx.)
BinanceUK Bank Transfer< 1%
Coinbase ProUK Bank Transfer< 1%
CoinJarUK Bank Transfer1%+
Crypto.comCredit & Debit Card2.99%
BC BitcoinUK Bank Transfer5%

The cheapest payment method for buying Dai (DAI) and other cryptocurrencies on the majority of platforms available in the UK is a bank transfer.

Each of the cryptocurrency exchanges or brokers above (excluding Crypto.com) supports the Faster Payments Service (FPS) too. This means that any GBP you send to these places should be credited within a single day (but it’s usually much faster than that).

Although Binance is the cheapest option, it’s a cryptocurrency exchange that’s not as beginner-friendly as alternatives like CoinJar and Crypto.com – both of which have simple and easy-to-use mobile apps.

Read on for more details about my top three favourite options.

Best Places to Buy Dai (DAI) in the UK

1. Binance

Binance logo over their trading interface

Binance is currently the cheapest place in the UK where you can buy DAI (DAI).

Although it does support credit and debits cards, you’ll pay higher rates (1.8%+) than if you just deposited GBP with a UK bank transfer (FREE).

And once you’ve got your money onto Binance, you’re able to buy Dai (DAI) and loads of other cryptocurrencies at the real exchange rate without paying much in the way of fees (maximum 0.1%).

Overview of Option #1
  • Create a Binance account. You’ll need to verify your identity before you can deposit GBP.
  • Send GBP with a UK bank transfer to your GBP wallet on Binance. It might take a few hours for this to be credited.
  • Buy Tether (USDT) with your GBP on the GBP/USDT spot market. You’ll get the real exchange rate and pay up to 0.1% in fees.
  • Buy Dai (DAI) with the Tether (USDT) you’ve just bought on the USDT/DAI spot market. As before, you’ll get access to the real exchange rate and pay up to 0.1% in fees.

With markets for more than 200 cryptocurrencies, Binance is one of the best cryptocurrency exchanges available to UK residents in 2021.

Binance Website

2. Coinbase Pro

Instructions to limit buy bitcoin (BTC) on Coinbase Pro (Step 1)

Coinbase is a well-known brand amongst cryptocurrency enthusiasts. It’s grown to support an ever-growing number of cryptocurrencies – including Dai (DAI).

Like Binance, you can deposit GBP onto this cryptocurrency exchange using a UK bank transfer (FREE). You can then buy Dai (DAI) and a range of other cryptocurrencies without paying more than 0.5% in fees.

Not as great as Binance, but still good.

Overview of Option #2
  • Create a Coinbase account. You’ll need to verify your identity and address before you get access to all payment methods.
  • Send GBP with a UK bank transfer to your GBP wallet on Coinbase Pro. My first deposit took a few hours to credit, but thereafter they’ve been sorted within minutes.
  • Buy Ethereum (ETH) on the ETH / GBP spot market. You’ll get access to the real exchange rate and pay maximum trading fees of 0.5%.
  • Use that Ethereum (ETH) to buy Dai (DAI) on the ETH / DAI spot market. As before, you’ll get access to the exchange rate and pay up to just 0.5% in fees.

Check out the Coinbase website to learn more about them.

Coinbase Website

3. CoinJar

CoinJar is a little bit different than Binance or Coinbase Pro.

Both these other places are cryptocurrency exchanges that are aimed at people who are looking to regularly buy and sell cryptocurrencies like Dai (DAI). While they’re cheap, they can be a little intimidating if you’ve never used something like it before.

CoinJar is a lot more beginner-friendly.

You can access it via your browser or a mobile app. In either case, they’ve made it simple and easy to buy Dai (DAI) or any of the other popular cryptocurrencies they support.

And they don’t rip you off either.

You’ll pay a fixed fee of 1% when you buy or sell any cryptocurrency with CoinJar. I have found that the exchange rate isn’t always the best possible rate you can find online though.

Overview of Option #3
  • Open a CoinJar account. Like elsewhere, you’ll need to verify your identity with them.
  • Send GBP with a UK bank transfer to CoinJar. My first deposit took a few hours to credit, but thereafter my transfers have been credited within minutes.
  • Buy Dai (DAI) with the money in your GBP wallet.

Check out the CoinJar website to learn more.

CoinJar ReviewCoinJar Website

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