bitFlyer Now Offers Stablecoin "DAI" Trading Along With a Giveaway Campaign

Leading Japanese cryptocurrency exchange bitFlyer, which has maintained the highest Bitcoin trading volume in Japan for six consecutive years, has expanded its services to include trading for the stablecoin DAI starting February 19, 2024.

To celebrate its 10th anniversary, bitFlyer is hosting a lottery where participants can win DAI worth 50,000 JPY.

Overview of DAI

DAI is a cryptocurrency operating on the Ethereum blockchain.

Stability Mechanism: Backed by collateralized crypto assets like Ethereum (ETH), DAI aims to maintain a soft peg to the US dollar (1 DAI = 1 USD). Its issuance and price adjustments are managed by MakerDAO, a decentralized autonomous organization, via smart contracts.
Use Cases: Ideal for daily transactions, remittances, and value storage due to reduced volatility compared to other cryptocurrencies.
Key Features:
- Name: DAI
- Token Symbol: DAI

👉 Learn more about stablecoins

Considerations

While DAI is designed for stability, its value is determined by market supply and demand, which may occasionally cause deviations from its target peg.

bitFlyer’s 10th Anniversary DAI Giveaway

To commemorate its decade-long milestone, bitFlyer is running a limited-time campaign:

Prize: 10 winners will receive 50,000 JPY worth of DAI.
Participation Requirements:
1. Complete bitFlyer account registration and identity verification.
2. Submit answers to the 10th Anniversary Quiz.
3. Purchase 10,000 JPY or more in cryptocurrencies via bitFlyer’s sales platform during the campaign period.
Campaign Period: February 19 – March 19, 2024 (23:59 JST).
Reward Distribution: Mid-April 2024.

👉 Explore bitFlyer’s trading options

Additional Perks

Zero Fees: No trading fees for spot purchases or Bitcoin FX trades.
Low Barriers: Trade 25+ cryptocurrencies (e.g., Bitcoin, Ripple, Ethereum) with investments as low as 1 JPY.
Quick Setup: Accounts can be opened in 10 minutes, with instant trading after deposit.

FAQ

Q: Is DAI truly stable?
A: While DAI’s design minimizes volatility, its value relies on market dynamics and collateralization mechanisms, so minor fluctuations may occur.

Q: How do I qualify for the giveaway?
A: Complete registration, verify your identity, answer the quiz, and make a qualifying purchase during the campaign window.

Q: Are there geographic restrictions?
A: The campaign is open to verified bitFlyer users in eligible regions.

Q: Can I trade DAI immediately after deposit?
A: Yes, deposits enable instant trading.