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Maker Token (MKR): Everything you Wanted to Know as a Beginner before Investing!

Maker (MKR) is one of the most popular cryptocurrencies currently. In terms of market cap, it is currently the 58th largest digital currency (over US$2.58 billion in market capitalizations). Should you invest in it? Is it a good investment? To answer all your queries, let me walk you through Maker, how it works, and many more.

What Is Maker Coin (Maker)?

Maker token (MKR) is the the MakerDAO and Maker Protocol’s governance token. While MakerDAO is a decentralized organization, Maker Protocol is a software platform. Both MakerDAO and Maker Protocol are based on the Ethereum blockchain, enabling their users in issuing and managing the DAI stablecoin (which is a community-managed decentralized cryptocurrency having a stable value soft-pegged to the US dollar). 

The MakerDAO decentralized autonomous organization started its journey back in 2015 when it was first conceptualized. Inside the larger Maker ecosystem, MakerDAO is the first entity. An entrepreneur from Denmark’s Sealand named Rune Christensen created MakerDAO in 2015. However, the Maker project was fully launched only in December 2017. 

MKR token acts as a voting share for the MakerDAO decentralized organization. Instead of giving dividends to the holders of the token, the organization provides them voting rights on Maker Protocol development. The value of Maker token is expected to increase in value with DAI stablecoin’s success. 

The Maker ecosystem is one of the earliest DeFi project in the world of decentralized finance industry, which creates decentralized financial products over smart contract enabled blockchains like Ethereum. 

Maker (Maker): Facts & Figures

All these facts and figures (as of Oct 22, 2021) will help you to make a decision on investing in Maker. Before making MKR coin transactions, check out these facts and figures associated with this cryptocurrency of choice:

  • Maker MKR Price: US$2,595.91
  • 24hour Trading Volume (24h volume): US$121,159,410
  • All-Time High (ATH) MKR Token Price: US$6,339.02 (reached on May 03, 2021)
  • All Time Low (ATL) Price: US$21.06 (reached on Jan 30, 2017)
  • 24h Low: US$2,548.94
  • 7d Low: US$2,440.18
  • YTD (Year-To-Date) Return: 346.93% YTD (Year-To-Date)
  • Market Cap: US$2,567,719,180 (US$2.57 billion)
  • Crypto Rank (in terms of market cap): 58
  • Fully Diluted Market Cap: US$2,603,030,186
  • Max Supply: 1,005,577
  • Total Supply: 991,328
  • Circulating Supply: 991,328.38 MKR (99%)

These are the facts that made Maker a preferred medium of exchange. Always check out market data and technical analysis before trading or investing. Also, consult crypto financial advisors and get tips from them on trending coins. 

How Is the Maker Network Secured?

MKR, the Maker token, is an ERC-20 token that runs on the Ethereum blockchain. The Maker network is secured by the Ethereum blockchain, which in turn is secured by the Ethash proof of work function.

Where can you Buy Maker Tokens?

You can buy Maker coins in almost all reputed cryptocurrency exchanges including:

  1. Coinbase Pro
  2. Binance
  3. Uniswap
  4. OKEx, and many more.

You can use credit cards, debit cards, or money transfers from a bank account to fund your cryptocurrency trading or investing account in a leading cryptocurrency exchange. 

The most popular price pairs of FIL are:

  • Maker/USD
  • Maker/BTC
  • MKR/USDT
  • MKR/BUSD, and many more.

Before investing, check out historical data of token Maker, crypto news, Maker price charts, Dai savings rate, MKR to BTC exchange rate, market updates, and others.

What are the Best Crypto Wallets to Store Maker Tokens?

The best Maker wallets and DeFi wallets to store MKR coins are:

  1. Ledger Nano X Wallet
  2. Ledger Nano S Wallet
  3. Trezor One Hardware Wallet
  4. Trezor Model T Hardware Wallet
  5. SafePal S1 Hardware Wallet
  6. CoolWallet S Hardware Wallet
  7. CoolWallet Pro Hardware Wallet
  8. DCENT Biometric Hardware Wallet

Invest in Maker and Other Cryptocurrencies

You can buy and sell Maker and other virtual currencies against various fiat currencies (US Dollar USD, British Pound, Japanese Yen, Canadian Dollar CAD, South Korean WON, Singapore Dollar, Chinese Yuan, Hong Kong Dollar, etc.) through a wide array of crypto exchanges (centralized or decentralized exchanges), crypto APIs or mobile app, and Maker markets. Use Dollar Cost Averaging DCA strategy to invest in cryptos to minimize the risks associated with high volatility. 

If you want to increase your investment explosively in the coming 5-to-10 years, buy crypto coins now. Keep an eye on the market news, price statistics, block times, blockchain news, and others to time your trading of Defi protocols and tokens for maximum profit. 

You can also diversify your crypto coin portfolio by including other cryptocurrencies such as Maker, XMR, FIL, ETC, WBTC, BCH, BTC, AAVE, Ripple XRP, Bitcoin Ether ETH, Bitcoin Gold (also called Bit Gold), Bitcoin Cash BCH, Basic Attention Token, Ethereum Classic, Shiba Inu SHIB, Binance Coin, Wrapped Bitcoin (some also call it wrap bitcoin or wBTC), USD Coin, Gemini Dollar, ERC20 tokens (created on Ethereum blockchain), nonfungible tokens NFTs, and others. 

Also, invest in various types of stocks, mutual funds, index funds, real estate, and others to improve your personal finance. If possible, get help from a portfolio manager or wealth management firm for maximum return. 

Invest in NapBots: A Dynamic Cryptocurrency Index

Whether you are a professional or retail investor, you can expose your capital to a diversified portfolio of digital assets & crypto asset classes by simply investing in NapBots. It is a smart crypto index service that introduces multifarious features and passive portfolio management strategies for enabling cryptocurrency investors to streamline their trading experience in new ways. 

NapBots provides you various indices that include a basket of tokens with high market capitalization and are categorized by theme (such as Solana, NFT, DeFi, and others). This platform introduces an intuitive interface as well as advanced allocation tools for enabling new investors to create and manage advanced crypto indices easily.

The best part of NapBots is that it tracks and executes trades automatically on the basis of your pre-set choices of indexes. The platform is very affordable as it enables you to start trading as low as US$150 with a monthly service fee of just 2.5%, which is far below the current rate of other cryptocurrency index providers. Therefore, NapBots reduces the financial barriers and at the same time eliminates the need for human intervention and the consequent human error. 
Get started with crypto-asset investing by investing through napbots.com, a dynamic crypto index for expanding diversified exposure to bitcoin and leading crypto-assets at reduced financial barriers and no human error.