How to Buy Maker Coin (MKR) in 2025 – Beginner’s Guide
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Bitcoin and Ethereum top the charts in market capitalization, but tokens further down the charts, like Maker, may offer greater growth opportunities. Innovative protocols like Maker with lower market caps still have room for dramatic gains. Can Maker creep into the top twenty alongside the project’s own DAI stablecoin? In this guide, we’ll learn how to buy Maker Coin (MKR) and how to store your MKR tokens safely.
Maker’s protocol offers a decentralized alternative to stablecoins like USDT and USDC but without the algorithmic risk of failed stablecoins like UST. Maker’s ubiquitous DAI stablecoin, soft-pegged to $1 USD, is backed by overcollateralized deposits of approved assets such as ETH, stETH, and a variety of smaller tokens. Let’s learn more about Maker itself as well as how to buy Maker Coin for your crypto portfolio.
What Is Maker?
Maker (MKR) is a governance token, much like the popular UNI (Uniswap) and ARB (Arbitrum) tokens. Governance tokens are used to vote on proposals for the protocol, which is run by a decentralized autonomous organization (DAO). In effect, the DAO is a pseudonymous democracy, using wallet addresses as identities and MKR tokens as votes. While anyone can submit a proposal for MakerDAO, only MKR token holders can vote on proposals.
MakerDAO collectively votes on proposals such as which tokens should be accepted as collateral for the DAI stablecoin. The coin’s design is simple yet robust and works based on collateralized deposits. Users deposit ETH or stETH, for example, and then borrow DAI. In this regard, DAI works much like our current debt-based money system, allowing the supply to grow as collateral grows.
However, rather than using a single asset as the project started, the community of MKR holders decides which assets are accepted and what happens with the profit generated by the protocol. Each MKR token equals one vote.
Maker uses two types of assets: crypto and real-world assets (RWAs). MakerDAO has nearly $5.9 billion in total value locked (TVL), including ETH, stETH, and other approved collateral tokens. Maker RWA now has more than $2 billion in assets, including US treasuries.
How to Buy Maker Coin in 6 Easy Steps
Let’s learn how to purchase Maker Coin (MKR) and safely store your tokens. You can follow the simple steps below.
Best Wallet supports ERC-20 tokens like MKR. For simplicity, we’ll use eToro to buy. eToro also provides a $100,000 demo account to practice trading without risking real money.
However, if you want to store your tokens in a self-custody wallet like Best Wallet, you may want to consider a trading platform like MEXC or Coinbase that supports withdrawals for a wider range of tokens. The process is similar for most crypto exchanges.
1) Get a Crypto Wallet
A crypto wallet holds the private keys that control your crypto assets on the blockchain. Cryptocurrency trading platforms like eToro use a custodial crypto wallet, meaning the platform holds the private keys. Some traders prefer holding their crypto tokens rather than leaving them on an exchange.
If you want to self-custody your crypto, you’ll need a wallet that supports the correct blockchain. The MKR token is an ERC-20 token on the Ethereum blockchain. Best Wallet supports MKR and other ERC-20 tokens. The wallet is free to use, well-suited to beginners, and offers mobile apps for iOS and Android.
Download the app from the app store and follow the instructions to get started. You’ll need to provide an email address. Alternatively, you can use your Apple or Google account. However, Best Wallet does not require Know Your Customer (KYC) identity verification for basic functionality.
Best Wallet also provides a help page to assist new users in setting up their wallets for the first time.
Tips for Wallet Safety
Best Wallet uses a simpler interface than most crypto wallets and doesn’t even use a seed phrase, a common stumbling block for new users. However, regardless of which wallet you use, remember these safety tips.
- Never share your private keys. Best Wallet does use a private key, which is available under the Manage Wallets setting. This private key controls your crypto assets on the blockchain. Never share it with anyone.
- Never share your seed phrase. A seed phrase is a human-readable version of the private key. Never share your seed phrase with anyone.
- Back up your seed phrase or private key. Although Best Wallet lets you recover your wallet via email or social login, it’s always wise to keep a copy of your private key and store it safely offline.
2) Select a Crypto Exchange
Most major cryptocurrency exchanges offer MKR, giving you several options depending on your location. We’ll use eToro for this walkthrough because eToro offers one of the most streamlined buying experiences anywhere.
However, if you want to move your MKR off the platform, you may want to consider a beginner-friendly exchange like Coinbase or MEXC (advanced users). eToro supports withdrawals for several leading cryptocurrencies but does not support withdrawals for ERC-20 tokens like MKR.
Choose an exchange with a solid history and proven security. eToro, which dates back to 2007, added crypto to its tradable assets in 2013.
Open an Account on eToro
To get started, visit eToro and open an account. You’ll need to provide your name, address, and email address. Choose a username and password, and then complete the identity verification steps. To comply with KYC regulations, eToro requires proof of identity.
3) Deposit Funds
You’ll need to add a payment method to your account to buy MKR. EToro supports bank deposits, credit or debit card, and PayPal in the US.
Link your payment method and choose a deposit amount. You can also add funds at the time you make a trade. The minimum deposit amount for MKR trades is $10.
4) Prepare Your Order
Search for MKR in the top bar and tap the Trade button. Next, you’ll be able to choose a trade amount.
eToro supports both market orders, which are the default choice, and limit orders, which let you choose a trade price.
- Market Orders: A market order fills at the current market price.
- Limit Orders: A limit order lets you choose the price for your trade. However, the order may not fill immediately and may not fill at all if the price you choose is outside the trading range.
Once you prepare your order, tap the Buy button.
5) Buy Maker Tokens
Review your order details. If everything looks right, click Confirm.
After your purchase is complete, eToro will transfer your Maker tokens to a custodial wallet on the eToro platform. You can view your assets in the Portfolio tab.
eToro charges a flat 1% for buying and selling crypto. The value in your account reflects the buying and selling fees, and the value updates in real time based on market prices.
Note: US customers cannot purchase MKR token. Only Bitcoin, Bitcoin Cash, and Ethereum are tradable crypto assets for US customers using eToro.
Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
6) Transfer to Your Wallet
If you use another exchange, such as Coinbase, Kraken, or MEXC, you can transfer your tokens to your self-custody wallet. Look for a withdrawal option and select your MKR tokens. Maker is an Ethereum-based token, so you’ll need to withdraw on the Ethereum network.
You can find your wallet address in the Best Wallet app from the home screen. Tap on Recieve to display a QR code for your wallet as well as a wallet address that you can copy or share with another app.
Setting Your Investment Budget When Buying Maker
Crypto prices can be volatile. Maker’s all-time chart shows impressive gains or staggering losses, depending on when you trade Maker. However, the overall trend is up, particularly following the crypto market recovery that began in 2023.
The takeaway is that investing within your means and with money you won’t need immediately is always important. This lets you ride out the market’s dips on the way to higher heights without being forced to sell at an inopportune time.
You can also consider a dollar-cost average (DCA) strategy. This means buying fixed amounts at fixed intervals. For example, you might want to invest $10 weekly. When prices dip, your $10 buys more. When prices spike, your $10 buys less. However, this strategy can help remove emotion from the decision and reduce the effect of market volatility on your portfolio.
eToro now supports automatic deposits, which can help you stay on track with a DCA investment schedule.
Is Maker (MKR) a Good Investment?
Maker’s relatively low supply can quickly propel the token’s value to new heights if demand increases. MKR’s maximum supply is just over 1 million tokens, with over 90% of the supply already in circulation. However, as a governance token, demand may not be as strong as utility or gas tokens, such as Ethereum or Solana. On the bullish side of the argument, MakerDAO is actively buying back tokens, reducing the circulating supply.
Competing stablecoins invest in cash equivalents like US treasury bonds. MakerDAO has adopted a similar strategy, although cryptocurrencies like ETH and stETH back the DAI stablecoin itself. MakerDAO is planning to invest $1 billion in tokenized treasuries. An earlier investment in treasuries boosted yields, allowing MakerDAO to accelerate token buybacks.
Tracking Your Maker Investment Performance
Exchanges like Coinbase and brokerages like eToro can help you track your performance over time. Long-term charts for MKR suggest it’s wiser to hold than to try and time the market or chase the chart upward. Both platforms offer profit reporting on your position, although eToro includes the selling fee in the P&L, making it a closer reflection of true performance.
Many investors take out their initial investment after realizing a 2x or higher gain, allowing them to buy dips or allocate the funds elsewhere. This strategy also reduces risk as you reduce your exposure to one token.
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Conclusion
In this guide, we learned how to buy Maker Coin and how the MakerDAO protocol works. MakerDAO offers a time-tested ecosystem and is one of the few viable stablecoins not backed by USD and treasuries. Many investors prefer to use DAI over alternatives like USDC and USDT due to its decentralization and proven history. Platforms like eToro provide a newbie-friendly way to buy Maker token. Coinbase, Kraken, and MEXC also offer the MKR token, giving you several options when you’re ready to trade.
FAQs
Where can I buy Maker tokens?
Should I invest in Maker Coin?
References
- What are ERC20 tokens? (etoro.com)
- MakerDAO’s $1B Tokenized Treasury Investment Plan (finance.yahoo.com)
- DeFi Lender Foray Into Treasuries Drives Rally in MKR Token (bloomberg.com)
- Maker (MKR) Price Prediction (changelly.com)
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