What is DAI Coin (DAI) and how to get an instant DAI loan

DAI Coin (DAI) is a decentralized finance (DeFi) money market that runs on the Ethereum blockchain. DAI Coin lets users lend and borrow a wide range of crypto assets. Originally known as ETHLend, the company changed to DAI Coin in 2020. As a peer-to-peer lending protocol, users lend out their crypto to other users and as a reward, earn passive income on the funds they lend out. To qualify, a borrower must deposit collateral greater than the amount they want to borrow. The DAI token is the native token that users can use as collateral to get a discount on transaction fees. DAI also allows governance rights to token holders.

Pros and Cons of DAI Coin (DAI)

Pros:

• It’s one of the most popular DeFi tokens and thus, has a passionate community
• DAI Coin liquidity is immense meaning borrowers can get flash loans and lenders can earn high % p.a.
• DAI Coin is forming solid partnerships with reputable companies like digital payments platform WIREX
• DAI Coin has credible stakeholders from Blockchain Capital, DTC Capital, Three Arrows Capital, Parafi Capital, Blockchain.com, Winklevoss Capital and more. 
• DAI supply is finite. There is a total supply of 16 million.
• DAI Coin is embracing Polygon’s Layer- 2 scaling solution, making it far more efficient than other DeFi protocols. 
  

Cons:

• Lenders don’t get a high return on their investment compared to other 
• Lots of competition with over 100 DeFi platforms. 
• Security and hacks are always an issue with DeFi platforms. 

How to get an instant DAI loan

Are you an DAI HODLer? Perhaps you have DAI that you don’t want to sell but you need cash now. In that case, getting quick cash is easy with YouHodler. Just deposit your DAI to your YouHodler wallet, pick one of our three loan plans (custom loan plans available upon request), and then in seconds, you’ll see your funds arrive in your fiat or stablecoin wallet. Then when you pay back the loan, you get your DAI back even if it’s increased in value. 

Choose from DAI to USD, DAI to EUR, DAI to GBP, and more! We have an industry-best loan to value ratio (LTV) of 90% meaning you get the most money for your collateral.

How to borrow DAI Coin - How does it work?

With our Crypto-Backed Loan service, you can borrow BTC, USDT, USD, EUR, GBP, or CHF only. That means if you want to borrow DAI you first must convert one of the above to fiat and convert it to DAI using our exchange service. 

DAI Coin loan calculator

You can use our DAI loan calculator with different loan plans to find the best option for you. You can see all parameters on the form such as loan duration, price down limit, and loan repayment. If you want to loan DAI Coin, please check the calculator first to see which plan works best for you. 

DAI Coin lending process

DAI Coin lending is easy with YouHodler. Just open and verify your account, deposit your crypto to the wallet and use it as collateral for your future DAI loans.