DAI Casinos – How to Use DAI at Online Casinos

DAI is the world’s first decentralized stablecoin that uses the Ethereum blockchain for all transactions, apps, and projects. It is an ERC-20 token that is the closest to the value of the US dollar, which means that 1 DAI is nearly equal to 1 US dollar. In comparison with other stablecoins, DAI is the native cryptocurrency of the Maker protocol, which is an autonomous decentralized ecosystem of smart contracts powered by the Ethereum blockchain. The operational company behind this cryptocurrency is MakerDAO, formed in 2014 by Danish entrepreneur Rune Christensen.

The official DAI release was launched on the Ethereum blockchain network on the 18th of December 2017. Some of the previous names of this cryptocurrency were Sai, SAI, and similar. It’s worth mentioning the MKR token, made by the MakerDAO company. To control the interest rates of borrowing and holding cryptocurrency in DAI tokens, MakerDAO was able to control the DAI value too. That’s how the MKR token is implemented, and now it serves as an investment for the governance token owners who can vote for modifications in proportion to the amount of tokens they hold.

The current market cap of DAI cryptocurrency is over $5,47 billion with a price of $1,00019 for 1 DAI. It is 100% backed by Ethereum, and its biggest backing share consists of many centralized stablecoins. The most popular ones are USD Coin, Pax Dollar, Wrapped Bitcoin (WBTC), Ethereum itself, and many more. It is designed to maintain a perfect ratio with the US dollar, representing one of the most stable cryptocurrencies on the market you have to own. On the official MakerDAO website, you can access the voting portal to delegate your MKR tokens or use the Spark landing page to deposit or borrow DAI with different saving rates.

DAI Latest Updates

• April 2024: The risk management contactor of AaveDAO, Chaos Labd, debates to 12% reduction of the DAI loan. The DAI collateral limit was the main point after the eUSD backing of $600 million mint. 
• March 2024: MakerDAO prepares to launch the “Endgame” Phase 1, which begins with rebranding. It aims for 100 billion new DAI tokens and scaling the current DAI stablecoin.
• March 2024: MakerDAO demonstrates the biggest domination on the market, lending 52% of the Ethereum market share. It is the first Ethereum lending protocol based on DeFi technology.   

DAI online casinos have a specific depositing and withdrawing process that you should follow to transfer your funds without barriers. Because it is a cryptocurrency, DAI payments are fast, safe, and anonymous which is the main characteristic of all crypto payment methods out there. To make a deposit at any crypto casino that accepts DAI payments, you have to add funds to your DAI wallet and connect it with the casino. To do it, open your casino account, go to the deposit section, and choose DAI as your deposit method. Next, enter the amount you want to deposit and verify your identity. After that, you will credit your casino account and you are all set to choose a casino game for huge cash prizes.

The process of making a withdrawal and getting your winnings instantly is nearly the same as we saw before. Go to the casino account, open the cashier section, and choose DAI as a cashout method firsthand. Enter the amount you want to withdraw and submit the withdrawal request. Please note that you will instantly get your lucky funds after the approval, and you are free to do anything with them. The transactional times, fees, and limits are set by the casinos themselves, so depending on your chosen platform, you have to check the banking rules before depositing real money bets.

First and foremost, DAI online casinos have specific transactional fees, timeframes, and transactional limits that are defined by the casinos themselves. The payment methods can’t influence the deposit and withdrawal characteristics because it is up to the casino’s policies and operational politics. Below, you will find more in-depth information about the whole transactional process in your chosen DAI casino, so please pay close attention and skip the headaches instantly. 

Fees

Rare are the cases where crypto casinos charge transactional fees for making deposits and withdrawals. This is the same scenario with DAI casinos, too, where all transactions are free without any hidden charges. DAI, as a cryptocurrency, includes a fee on a maximum and minimum scale depending on the associated network at any given moment. However, it is totally outside of the DAI online gambling world, and nearly all online casinos will never charge you anything for making crypto transactions.

Timeframes

As with any other crypto payment method, DAI offers fast and secure deposits and withdrawals in all online casinos that it is available. Players should feel free to make instant deposits and credit their casino account within a couple of seconds. The withdrawal process is also very fast, and you will instantly get your lucky funds after the withdrawal request approval on your chosen online casino. Crypto payment methods also offer increased anonymity, high-security measures, and encrypted blockchain networks, so they are far better, according to many casino players, in comparison with traditional banking methods or direct bank transfers.

Deposit and Withdrawal Limits

The deposit and withdrawal limits can vary from casino to casino, and no matter the payment method, they are pre-defined by the casinos from the beginning. All DAI online casinos from our list feature acceptable transactional limits, which can vary from casino to casino. Depending on your chosen DAI casino, please note that the minimum deposit you can make will be in the range of $10 to $30, and it will go up to $5000. It is also enough to claim the welcome bonus or any other casino promotion available on the platform.

The situation is nearly the same with the withdrawal limits, too, where the minimum amount you can cash out will be between $10 and $30 using DAI as a withdrawal method. The maximum amount can go up to $30,000, or in many cases, it is limitless. Keep in mind that some online casinos have weekly, daily, and monthly withdrawal limits, so you have to meet this criterion depending on the time period you want to cash out. Some VIP players may have negotiable withdrawal limits or even better amounts in comparison with the regular players, thanks to their loyalty and VIP levels.

Looking at the overall player experience in the casino review sites, forums, social media, and casino rating platforms, we are more than sure that DAI online casinos are among the best ones in the iGaming world. Nearly all of the players are happy to use DAI as a main payment method for their deposits and withdrawals, so the whole process is smooth without any transactional problems. Crypto wallets are easy to set up and connect, so this is a win-win situation for all casino enthusiasts who prefer the modern way of online gambling. 

Crypto payment methods are among the most popular ones nowadays, so DAI is the main player in the whole game of fast, safe, and anonymous crypto payments. In comparison with traditional banking methods and e-wallets, DAI offers an immersive experience where the players will enjoy increased security, a decentralized cryptocurrency that does not discriminate, no volatility, and much more. Customer support is here for everything you need in the future, offering a high response rate with effective steps for proper solutions in a given situation.