So, do you feel like buying some Maker Coin (MKR)? MKR isn’t your typical meme coin. What makes it special is that it lets you vote on decisions for MakerDAO, a big player in DeFi. It’s also a way to earn fees. Buying MKR is a bit different than buying other tokens, but we can guide you through the best ways to do it.
When you own MKR, you’re not just holding a token but you also get voting rights in one of DeFi’s most important protocols. Plus, MKR holders earn fees from the entire MakerDAO system. It’s like owning a piece of a bank, except this bank operates 24/7 without traditional banking red tape.
The thing is, buying MKR isn’t as straightforward as buying Bitcoin. You’ve got quite a few options. Some fast, some cheap, some more private. We will break down everything you need to know, from the quickest purchase methods to money saving tricks that most people miss.
Note:
Here is a graph that highlights the statistics and graphs related to the specific cryptocurrency (MKR)
What is the Quickest Way to Buy Maker Coin (MKR)?
Want MKR today? Hit up a major centralized exchange like Binance or Coinbase. These platforms are built for speed and convenience. You can literally buy MKR with your credit card in minutes.
Here’s the drill:
1. Sign up on Binance, Coinbase, or another major exchange
2. Get verified – upload your ID, take a selfie, the usual KYC stuff
3. Add payment info – credit card for instant buys, bank account for cheaper fees
4. Search “MKR” – click on Maker
5. Enter your amount – check the fees before confirming
6. Buy it – your MKR shows up immediately
7. Move to your wallet – don’t leave crypto on exchanges long-term
The whole thing takes maybe 20-30 minutes if you’re moving fast. Credit cards are instant but expensive (think 3-4% fees). Bank transfers are slower but way cheaper so pick wisely between speed and savings.
What is the Cheapest Way?
Nobody wants to overpay for crypto, so let’s talk about keeping more money in your pocket. The cheapest method usually requires a bit more patience, but the savings are worth it.
Use bank transfers instead of credit cards: Yeah, you’ll wait 1-3 days, but you’ll save 2-3% in fees. On a $1,000 MKR purchase, that’s real money.
Try exchange P2P sections: Many big exchanges have peer-to-peer trading areas where you buy directly from other users. Sometimes you’ll find better rates than the exchange’s standard prices.
Check out DEX aggregators: Services like 1inch scan multiple decentralized exchanges to find the best MKR price. If you’re already holding crypto, this can save you serious money.
Other Methods You Use to Buy Maker Coin
● P2P Trading
Are you looking for some MKR without having to deal with the big exchanges? Some of the P2P platforms like LocalBitcoins are worth checking out. You’re basically trading directly with other crypto enthusiasts, which often means better privacy and sometimes you can snag better rates. Just do your homework on whoever you’re trading with because reputation matters a lot in P2P.
● Exchange Aggregators
They are like crypto shopping assistants. SwapSpace and ChangeNOW are among the list of platforms who do the heavy lifting by scanning multiple exchanges to find you the best MKR rates. It is perfect when you want to swap between cryptos without spending hours comparing prices across different platforms.
● OTC Trading
Are you planning for a big MKR purchase? We are talking $10K+ here. If so then OTC desks are your friend for large orders. They will hook you up with institutional pricing and won’t send the market into a frenzy with your trade. Pretty much every major exchange runs an OTC desk for serious traders.
● Wallet Purchases
Some wallets like MetaMask have built in buying features for MKR. It is super convenient if you are already using the wallet. But you will have to pay premium fees for that convenience.
● DeFi Earning
DeFi experts can earn MKR through yield farming or liquidity mining – a way to earn tokens by providing liquidity. However, be aware that MKR’s price can be unpredictable and may be affected by regulatory changes
Here is a Crypto calculator (with real-time prices of coins/cryptocurrencies) for estimation purposes that can be beneficial.
What Payment Methods Can You Use to Buy This MakerDAO Governance Token?
● Fiat Options
–Credit/Debit Cards: They are quick with 2-4% fee charges
–Bank Transfers: long process with 0.1-1% fee charges
–Paypal: Not many exchanges accept this option
–Wire Transfers: Safe option for big purchases
● Crypto Options
-Bitcoin Swaps: Most desired way to buy MKR
–Ethereum Swaps: This one is more like a cake since MKR is built on Ethereum
–StableCoin Swaps USDC and USDT are popular choices for swapping MKR
–Other Altcoins: Easily available on DEX platforms
Is Maker Coin (MKR) a Good Investment?
MKR might be a good fit if you believe in DeFi’s potential and want to be part of its decision making process. As an MKR holder, you’ll earn fees and get a say in protocol decisions. However, be aware, MKR’s price can fluctuate that may affect regulatory changes.
Top Crypto Exchanges to Consider for the Purchase
1. Binance
– Traded Volume: Colossal liquidity
– Payment methods: Multiple payment methods, i.e. credit cards, bank transfers, P2P, and 100+ fiat currencies
– Ease of Use: Straightforward interface with upgraded features
– Dex or CEX: CEX
– Any key feature that is unique to the exchange: Lowest trading fees (0.1%) and Binance Coin fee discounts
2. Coinbase
– Traded Volume: Solid liquidity, high volume+ strong USD pairs
– Payment methods: Transfer through Credit/Debit cards, Bank transfers, Paypal and Wire
– Ease of Use: Totally user friendly
– Dex or CEX: CEX
– Any key feature that is unique to the exchange: FDIC insurance on USD deposits
3. Bitget
– Traded Volume: Growing MKR volume + ample liquidity
– Payment methods: P2P trading, Bank transfers, Debit/Credit cards
– Ease of Use: Simple, clean and modern interface
– Dex or CEX: CEX
– Any key feature that is unique to the exchange: Copy top traders+ moves automatically
4. Gemini
– Traded Volume: Steady trading volume + pricing
– Payment methods: Credit/Debit cards, Bank and Wire Transfers
– Ease of Use: Simple and authentic platform
– Dex or CEX: CEX
– Any key feature that is unique to the exchange: Up to 10 free withdrawals per month (backed by top-notch security measures)
5. Uniswap
– Traded Volume: Massive liquidity pool+ highest DEX volume for MKR
– Payment methods: Only cryptocurrency swaps (tokens, Eth, stablecoins)
– Ease of Use: Simply connect your wallet, no account /signup needed
– Dex or CEX: DEX
– Any key feature that is unique to the exchange: No ID verification + automated system for buying and selling
6. 1inch
– Traded Volume: Rounded up liquidity from multiple DEXs
– Payment methods: Only crypto currency swaps
– Ease of Use: Very clean interface (with smart routing)
– Dex or CEX: DEX
– Any key feature that is unique to the exchange: Automatically finds the best prices across multiple decentralized exchanges
Factors You Should Consider Before Buying Maker Coin
● Fees and Price
Don’t forget to include trading fees, withdrawal costs, and payment processing charges – these extra costs can add up quickly.
● Volume Discount
Some exchanges offer discounts if you trade frequently or hold their tokens.
● Any promotions that might be available on exchanges
Look out for promotions i.e. welcome bonuses, fee discounts and cashback deals.
● Understanding tax implications
Keep track of all your crypto transactions, as they are usually subject to taxes.
Here is an easy step-to-step guide on how to buy MKR :
Want to Learn More About MakerDAO and Earning With DAI?
Ready to dive deeper into the MakerDAO ecosystem? Dypto Crypto makes learning about DeFi actually fun and profitable. Instead of boring textbooks, you will get hands-on interactive courses that teach you real trading strategies and investment techniques. Plus, you’ll join a community of traders who are always sharing tips and helping each other out.
Whether you are looking to master DAI yield farming, understand MKR governance voting, or discover new DeFi opportunities, Dypto Crypto breaks it all down in bite-sized, easy-to-follow lessons. Sign up today and start turning your crypto curiosity into actual profits.
Frequently Asked Questions (FAQs)
Q: Where can I buy Maker Coin (MKR)?
A: You can buy Maker Coin (MKR) on major exchanges like Coinbase, Binance and Bitget. Or you also have the option to buy them from Uniswap (DEX).
Q: Can I buy MKR directly using a credit card or bank transfer?
A: Yes, you can. Most centralized exchanges accept credit card/ bank transfer.
Q: How can I avoid Gas fees for Maker Coin (MKR) transactions?
A: You can avoid Gas fees for maker Coin (MKR) if you trade during off peak hours on Ethereum. Or you can try using exchanges that cover gas fees.
Q: What is the difference between Maker (MKR) and DAI?
A: MKR gives you a stake in the platform, while DAI is a stablecoin used for transactions
Q: Is MKR available on every major exchange?
A: MKR is available on most of the major exchanges. But its availability varies by region.
Q: How can I buy Maker Coin if crypto exchanges aren’t available in my country?
A: You can use P2P platforms, global exchanges, or crypto ATMs, and follow local law regulations.
About the Author
