What is Maker (MKR)?
The Maker Protocol is one of the largest dapps on the Ethereum blockchain, and the first decentralized finance (DeFi) application to see significant adoption. The Maker Protocol is managed by people around the world who hold its governance token, MKR. MKR is an Ethereum token described as a utility token, governance token, and recapitalization resource of the Maker system. The purpose of the Maker system is to generate another Ethereum token, called DAI, that seeks to trade on exchanges at a value of exactly US$1.00. You can buy and sell MKR for any major cryptocurrency, like BTC, ETH, and XRP or traditional currency such as Canadian Dollar, US Dollar, and Euro. Trading cryptocurrencies is like foreign exchange of traditional currencies – you trade MKR for BTC the same way you trade CAD for USD. You can also trade MKR to CAD based on the MKR price. To learn how to buy Maker / MKR, scroll down to see how to buy Maker.
How to buy Maker (MKR)?
Here's how to buy Maker on Coinsquare
To buy Maker, simply follow these steps:
1. Sign up for a Coinsquare account and verify your identity
This is the first step to buying MKR. Verifying your identity helps us to properly connect your funds to your account.
2. Fund your account with Canadian Dollars
Funding is like putting gas into a car – it helps you get where you want to go.
3. After funding, select MKR from the list on the trade section
Coinsquare lets you trade MKR without leaving the app. You can also check the Maker price and convert MKR to CAD or USD on the platform.
4. Select a currency you’ve funded and use it to check the MKR price
In the Coinsquare app, all currencies available to trade can be found in the drop down list.
5. Buy Maker (MKR)
Congratulations! You’re now the proud owner of MKR. You can either HODL or use it to exchange MKR to CAD.
Where do I keep my Maker (MKR)?
At Coinsquare, we offer customers the power of easy transactions and cold storage security. We’re constantly organizing funds to ensure our customers trade instantly and securely. There are different storage options available for your cryptocurrency, your choice should ultimately be the one that suits your needs. Mobile and web wallets can make transactions easy as the currencies are accessible directly from your phone or device, whereas hardware wallets are best suited for secure, long-term storage as they eliminate the vulnerability found in online environments.
Ready to add Maker (MKR) to your portfolio?
Create your account, fund it with spare change and get a little bit of MKR.
