Find the best DAI Stablecoin interest rates APY and earning sites in this article.
DAI is the largest decentralized stablecoin by market cap. Many people are looking for opportunities to earn the highest APY. We help you to find this and you might also want to check out the list of the best interest rates APY for all cryptocurrencies.
Let’s dig into DAI and see how much you can earn and how it’s collaterlized.
Best DAI APY Interest Earn Rates
Compare the best DAI APY earn rates in the table below. Only Midas Investment accept US customers for their earning products.
For some platforms, there are loyalty levels to reach the maximum earning yield.
Also, some platforms have tier levels which means you can only earn the maximum yield APY for a certain amount of DAI.
What is DAI?
DAI is a decentralized cryptocurrency stablecoin that aims to maintain a stable 1: 1 value against the US dollar.
DAI is unique in that it is collateralized by multiple stablecoins and cryptocurrencies. By far, the biggest share of DAI’s backing consists of centralized stablecoins USD Coin (USDC) and Pax Dollar (USDP), followed by Ethereum (ETH), Wrapped Bitcoin (WBTC), and dozens of other cryptocurrencies.
Midas Investment DAI Earn Rates
Midas Investment offers the best DAI APY earn rates of all the listed companies.
In addition, Midas accepts US customers and has no tier levels and no loyalty system.
However, they have implemented a boost system where you have to opt-in to receive the interest payments in the Midas token to reach the highest APY.
Find out more in our Midas Investment review.
YouHodler DAI APY
YouHodler offers a great DAI APY as well. Here, you can get 8% with a maximum of $20.000 deposited.
YouHodler has no tier levels or loyalty system.
NEXO DAI Earn Rate
NEXO io offers one of the best DAI stablecoin APY earn rates.
However, it´s a bit complicated to reach the maximum interest rates at NEXO.
- First, you must achieve the NEXO platinum loyalty level
- Secondly, you need to opt-in to receive the interest payouts in the NEXO token
DAI Stablecoin VS USDC
The most important aspect of a stablecoin is its reserves and how the stablecoin can maintain a constant price despite the changes in the cryptocurrency market.
According to Grant Thorton in 2021 “only” 60% of USDC reserves are made of cash.
Meanwhile, the remaining 40% of the reserves were backed by debt securities and bonds.
DAI is a bit different from the centralized stablecoin like USDC (or USDT) and relatively more complicated. DAI tokens are actually over-collateralized in the sense that for every DAI coin in existence, there are 150% of crypto assets backing it.
- DAI is a decentralized stablecoin while USDC is a centralized stablecoin
- USDC has a higher market cap
- USDC has more trading pairs
- USDC has a higher availability of lending platforms