We use cookies to personalise content and ads, provide social media features, and analyse our traffic. To learn more check our cookies policy.

Buy Maker


About Maker (MKR)

Maker is a smart contract lending platform; MKR is the governance token supporting it.

MKR holders govern the Maker Protocol, the smart contracts that power DAI.

What’s DAI? That’s an Ethereum-based, dollar-pegged stablecoin. 

How DAI connects with MKR (and vice versa) can be confusing.

The DAI token is the lifeblood of lending platform MakerDAO. MakerDAO issues DAI, on the Ethereum blockchain, through a system of smart contracts designed to respond to market dynamics. The MakerDAO lending system makes loans – collateralised debt structures –that rely on DAI to lock in collateral.

It has been in this capacity that DAI has grown to become one of the most actively used stablecoins. MakerDAO accepts multiple assets as collateral for DAI loans including WBTC, ETH, BAT, USDC, and USDT. 

DAI exists for one reason: to facilitate the lending platform founded by the Maker Foundation in 2015. This project was the brainchild of Rune Christensen of Denmark.  He envisioned an open-source system to offer non-discriminatory financing opportunities to anyone, anywhere.

MKR, on the other hand, exists for two reasons. At its core, as mentioned, it facilitates Maker governance, which gets conducted by way of smart-contract-abetted voting initiatives (polls) on decisions relating to the development of the protocol.

But MKR has one additional, crucial function: recapitalization. If the lending system's debt becomes greater than the surplus MKR on hand, then additional MKR tokens can be minted by the protocol and sold for Dai to help keep the ecosystem solvent.

The stability of DAI/USD peg is maintained by the MKR tokens (burned or issued) based on the smart contracts designed to defend the peg’s integrity.

During the second half of 2020, stablecoin demand surged among DeFi yield farmers, proving to be a test of MakerDAO’s ability to defend the DAI/$1 level after zero interest rates failed to curb demand.

Andreessen Horowitz, the venture capital giant, became a shareholder in MakerDAO in 2018. At that time, the firm became a significant MKR holder.

What is the price of MKR?  


As of early February, MKR was valued at roughly $1,600. That amounts to a market capitalization of roughly $1.6 billion. Recent market activity has seen MKR’s average daily volume exceed $200 million. 

There are 995,692 MKR tokens in circulation out of the total number, roughly one million, in existence.   

The current price of MKR represents a 275% increase just in the month of January of 2021. This dramatic rally was a delayed reaction to a surge in DAI creation. During the summer of 2020, with an intense interest in DeFi, MKR remained relatively unchanged as DAI rates were kept near zero to ensure stability. As MakerDAO allowed interest rates to rise, the price of MKR began its ascension.

How to buy Maker (MKR)

With Uphold, you can set up an account, verify your identity and buy crypto with ease.

Here is how:

1. Go to Uphold.com and click ‘Sign up’

2. Enter your email address, phone number and your personal details

3. Tell us how you plan to use Uphold and provide some basic financial information (e.g., employment status and source of funds)

4. Verify your identity by providing an ID document and taking a ‘selfie’

… and you’re off to the races!

Just start trading.

Open an Uphold account

You should be aware that the risk of loss in trading or holding cryptoassets can be very high. As with any asset, the value of cryptoassets can go up or down and there can be a substantial risk that you lose all your money buying, selling, holding or investing in cryptoassets. Our cryptoasset services are not within the scope of the UK Financial Ombudsman Service and your cryptoassets are not subject to protection under the UK Financial Services Compensation Scheme. You should carefully consider whether trading or holding cryptoassets is suitable for you in light of your financial condition.

Uphold Europe Limited (FRN: 900577) is registered under the Financial Conduct Authority’s Temporary Registration Regime for cryptoasset firms and complies with the Money Laundering, Terrorist Financing and Transfer for Funds (Information on the Payer) Regulations 2017 as amended. The purchase, sale and custody of cryptoassets is regulated by the FCA for anti-money laundering purposes but this does not indicate any approval by the FCA of Uphold’s cryptoasset activities. Uphold Europe Limited is also an EMD agent of Optimus Cards UK Limited which is authorised and regulated by the Financial Conduct Authority to issue e-money (FRN: 902034) pursuant to the Electronic Money Regulations 2011. 

The e-money services are regulated by the Financial Conduct Authority. E-money is not a deposit or investment account which means that your e-money will not be protected by the Financial Services Compensation Scheme. User funds will be held in a designated safekeeping account with a regulated financial institution. E-money will not earn any interest. Additional Risk Warning in Uphold’s Terms & Conditions.

This content is correct as of September 2021

Get more coin for your coin

0% deposit fees 0% withdrawal fees

Learn more