Where to Buy Maker Coin – Beginner’s Guide

Update – Maker pumped 20%+ the day of the Terra (LUNA) crash to $0.83, suggesting investors could be moving over to MKR as it has a similar use case.

Maker is the utility and governance token for a decentralized autonomous organisation (DAO) and lending platform that allows anyone to borrow cryptocurrency, MakerDAO. The Maker network combines advanced smart contracts with uniquely pegged stable coins in order to make it easy for users to borrow crypto.

Maker coin (MKR) is one of the most valuable ERC20 tokens, ranked the #44 crypto by market capitalization. It provides value to projects that produce stablecoin DAI, which always trades at $1 per token. In this guide, we cover how to buy MKR, the best places to invest in Maker and make some MKR price predictions.

Our Maker guide below covers other important aspects to help you to make an informed decision before you buy Maker coin.

Where to Buy Maker – Best Platforms

To buy MKR coins, look for crypto exchanges that have listed the Maker crypto. As it’s a popular established crypto, many platforms list Maker. We list and review the best places to buy Maker below:

1. Crypto.com – Simple Place to Buy Maker Coin With a Debit Card

The Crypto.com is popular among investors for its wide variety of crypto assets. Trading cryptocurrencies on this platform is a hassle free task and safe due to its robust security protocol in place.

Maker is preferred by many investors on Crypto.com. Traders can invest in MKR coins on this platform by opting for Visa and MasterCard for their payments. It charges a 2% commission per purchase, which is free for users for the first 30 days after successful user registration. Additionally, you can select from over 250+ digital tokens including MKR.

These include small/mid-cap coins and large-cap coins. The platform is easily accessible for users using a desktop browser or a mobile app. Crypto.com offers a wide range of payment options including credit cards, debit cards, bank transfers, etc. The platform attracts many investors because of its “Crypto Earn” tool that facilitates the earning of passive income for holding cryptocurrency.

The Crypto.com DeFi Wallet makes your trading journey easy on the move. Crypto.com also has an NFT marketplace that you can explore to invest in NFTs using cryptos conveniently bought on its exchange platform.

Cryptoassets are a highly volatile unregulated investment product.

2. Coinbase – User-Intuitive Platform

Coinbase has been operating since 2012 and it has grown to be a popular cryptocurrency platform globally. It offers a $10 signup bonus for those joining via a Coinbase referral link.

It was founded by three people who faced inconveniences opening bank accounts as small businesses owners then. The group decided to design an easy-to-use platform where people can buy or sell cryptos irrespective of their investment amount or location.

It is tagged as one of America’s most trusted exchanges. Its total user base as on today is 89 million. This gives you an opportunity to go for an exchange platform trusted by millions to buy cryptos like Maker coins.

Maker investment on Coinbase is simple and takes a few minutes. All you need to do is register your account and upload the relevant IDs. After the identity verification, buy your digital tokens by using a Visa or MasterCard. The transaction cost for credit/debit cards is around 4%.

Coinbase offers other digital tokens apart from Maker and all of these assets are worth over $280 billion.

Cryptoassets are a highly volatile unregulated investment product.

3. Binance – Buy Maker With Crypto at Just 0.10% Per Trade

You can also buy Maker on Binance, which has become a go-to option for seasoned investors especially because it facilitates over 1,400,000 transactions per second. If you trade crypto against supported digital assets (like BTC, ETH, or Tether, USDT), it only charges 0.1% per trade.

Binance has fees of 3.5% if you use debit/credit cards for your purchase. You pay $15 for bank wire transfers.

If you opt to deposit via ACH on Binance, then it is absolutely free. There are withdrawing charges on Binance which will be reflected on your screen just before you confirm the withdrawals. The charges differ according to withdrawal methods and fiats. You can browse through the Binance official website for additional details.

Binance was banned in the United States and it operates in the country via its partnership with Binance.US. The website has more than 500 other digital currencies. These include large-cap blockchain assets like Ethereum and BTC and many ERC20 tokens.

When you buy Maker on Binance, you can store your holdings on its Trust Wallet app. Users also get privileged access to the decentralized exchange – PancakeSwap.

Cryptoassets are a highly volatile unregulated investment product.

What is Maker?

The Maker Project was one of the first decentralized finance projects on Ethereum. It is still considered a popular and successful ETH-based platform that has more than 2 million dollars worth invested in CDPs or contract commitments.

In contrast to traditionally structured and centralized corporations, a DAO (distributed autonomous organization) operates on the principle that all aspects – from management down to execution – should be conducted through smart contracts.

Maker follows this system that gives communities access to know how the companies operate so that they make informed decisions while voting for board members or decisions impacting future plans.

Is Maker a Good Investment?

If you are wondering whether your cryptocurrency is worth an investment, then note that only a small percentage of these cryptos have fundamental value. Before you invest in volatile tokens like BNR, read our review of Maker to arrive at a decision.

Community Governance

• MKR holders can participate in the governance of this ecosystem.
• It has decentralized mechanisms that are community-driven and rely on Active Proposal smart contracts.
• These smart contracts provide users with more control over the future and ensure higher transparency.

Deflation

Whenever a CDP smart contract closes, a small amount is taken from interest fees and burned to ensure the supply and demand equilibrium in the ecosystem. The development team at Maker has been mindful of inflation’s impact on their currency. Since new tokens cannot be issued without price degradation, they included a Deflationary protocol with early DeFi platforms like Tether and DAO.

Target Rate Feedback Mechanism (TRFM)

As USD is witnessing an increase in price, TRFM was created to help dampen DAI’s volatility. It changes its target price over certain periods and has both rising or falling rates depending on what’s needed for stability in markets during severe conditions.

No Mining

The system of MKR tokens is designed to maintain the value of its second token DAI near $1. When a lending smart contract finishes executing, it destroys one token for every dollar lent out and creates two new ones on behalf of the borrower. The borrower agrees with interest rates and “collateral security”. This gives lenders more assurance.

Collateralized Debt Position (CDP)

CDP contracts make the Maker ecosystem autonomous. These advanced smart contracts are initiated when you exchange ERC20 tokens for DAI tokenized fuel. These can be used at any of our partners’ shops or for services.

The collateralized debt obligation (CMO) is a smart contract that automatically releases funds when you end your loan. It allows you to enjoy lock-in risk-free profits.

Maker Price

The Maker token attracted high investor interest since its launch. It reached around $1,300 a month after launching in December 2017 at around $20, then set another high of $6347 on Binance in mid 2021.

The current price of Maker stands is around $2200 with a market cap of about $2,000,000,000 with a circulating supply of over 970,000 MKR.

MKR price chart on Coinbase

MKR Price Prediction

With alliances and community funding, Maker is expected to reach a level of $2900 by the end of 2022. With changes in policies and regulations, Maker may have a steady uptrend alongside the rest of the crypto market and it is expected to be between $2700 and $3300 in 2023.

Owing to Maker’s aggressive price action and previous bull cycles that made over 10x gains (a 1000% ROI), some crypto enthusiasts predict its price could reach around $3800 in the next year.

If we see new partnerships in the coming years, then Maker might outrun many other cryptos in the market and reach a value of $4500 per token. Since the network is popular with many projects built on it, its advancements might lead Maker to reach a price of $4200 by the end of 2023.

It Bitcoin retests its previous all-time high ($69,000) in the run-up to the 2024 Bitcoin halving the Maker price could also also retest its previous ATH of $6300 – $6400 depending on the exchange, or breakout into price discovery and approach five digits.

Total value locked (TVL) in DeFi projects has been increasing again in recent months, recovering some of the losses of the correction seen in Q1 2022.

Ways of Buying Maker

To buy MKR, you can choose a payment method from the wide variety of options offered by different platforms. You can choose the brokers that we have reviewed. Select any of the following options for your payments:

Buy Maker With Credit Card or Debit Card

To buy Maker with a credit card, you first need to create an account with a crypto platform that supports these methods. Enter the money you want to invest in MKR. Then choose credit or a debit card as payment method

The charges vary according to the platforms. Coinbase has a steep fee for buying crypto with credit cards. Crypto.com on the other hand charges a high rate of 2.99% debit card transactions.

Buy Maker with Paypal

Some brokers allow for simple PayPal payment methods. Simply enter your PayPal details and buy MKR instantly.

Buy Maker without KYC Verification 

While buying and selling Maker, the KYC process is necessary on regulated and trusted platforms. You can buy MKR on a P2P platform. But it will have its risks. Some brokers are regulated and they have an easy KYC process.

How to Sell Maker

To sell your Maker coins, simply go to the portfolio section and place an order in the same way. The selling price will be displayed on the platform before you checkout.

Conclusion

Maker makes sure that its token value is connected to its users. This makes it stand out from other coins. MakerDAO considered an innovative crypto lending platform.

Conduct extensive research about the crypto market when you want to invest in Maker or any other cryptocurrency, and network with other investors.

That way you can search for a second opinion the best time to buy Maker or what a good price to invest in Maker might be on any given day.

FAQs