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How to create a DAI wallet

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DAI is an Ethereum-based stablecoin whose issuance and development is managed by the Maker Protocol and the MakerDAO decentralized autonomous organization. The price of DAI is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies that are deposited into smart-contract vaults every time new DAI is minted.

Learn more about this stablecoin with our ultimate DAI review. And now let’s create a wallet for DAI storage!

Step 1.  Go to MetaMask and click the «Download for Chrome» button.

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Step 2. Click the «Add to Chrome» button and install the extension to your device.

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Step 3. Once the extension is installed, it will open in a new window. Click the «Get Started» button.

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Step 4. Agree with the terms of usage of MetaMask by clicking «I agree».

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Step 5. Click the «Create a Wallet» button.

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Step 6. Come up with a strong password and set it. Then press «Create».

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Step 7. Watch the video about secret recovery phrase for the safety of your funds and then go next.

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Step 8. Save the 12-word recovery phrase in a secure place. 

You will need it to quickly regain access to your wallet. It is better to save the phrase in several places: without it, if the password is lost, it will be impossible to restore access to the wallet even through the support service. And never share this data with anyone!

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Step 9. Confirm your Secret Recovery Phrase.

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Step 10. Congratulations! You created a MetaMask account. But the work doesn't end here.

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Step 11. Now we need to add DAI to the wallet. Click «Import tokens».

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Step 12. Type DAI in the search bar, select the token and click «Next».

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Step 13. Confirm adding the token.

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Step 14. Copy your wallet address.

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Step 15. Now with this address you can easily purchase DAI using the itez.com.

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Maria Kachura
Maria Kachura

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