Maker Buy or Sell? Our pros & cons analysis
Even though cryptocurrencies are currently trading strongly, they have one major disadvantage: the large price fluctuations and the low stability bring with them a number of problems. In order to improve or eliminate precisely this problem, so-called stablecoins have come onto the market in recent years, which tie digital currencies to fiat currencies. The Maker Project is a good example of this – the decentralised organisation is trying to eliminate the disadvantages of previous cryptocurrencies with its own stablecoin DAI.
Maker (MKR) is based on the Ethereum blockchain and aims to tackle the problems of current cryptocurrencies. But what exactly is Maker? How does the MKR token work? What is DAI? Can you buy the tokens? And what are the forecasts? We took a closer look at the project.
- 1 Buy Maker: What should you look out for to buy MKR cheaply & safely?
- 2 How to buy Maker? Our guide for beginners in 3 steps
- 3 What is Maker?
- 4 What are Maker CFDs?
- 5 Maker as CFD or buy real cryptocurrency?
- 6 Maker Buy or Sell?
- 7 What are the fees when buying Maker?
- 8 Maker Course: Important Moments in the MKR Price History
- 9 Buy Maker with or without Wallet?
- 10 Does it make sense to invest in Maker? Which cryptocurrency is the best investment?
- 11 Maker Trading – Should you hold Maker for the long term or trade for the short term?
- 12 Buy Maker at bitcoin.de, coinbase, binance, Bison & Comdirect – Why we recommend Libertex as an alternative:
- 13 Is it possible to buy Maker offline?
- 14 Is it possible to buy Maker anonymously?
- 15 How to sell Maker again: Our guide to Libertex
- 16 Buy Maker Conclusion – Our recommendation
- 17 Buy Maker: FAQs
Buy Maker: What should you look out for to buy MKR cheaply & safely?
Maker (MKR) is the governance token of the Maker protocol, which is a decentralised organisation based on the Ethereum blockchain. This organisation or software enables users to issue stablecoins from Maker DAI and manage them. The project was initiated back in 2015 and launched in 2017. The main focus is on the decentralised cryptocurrency DAI, which is pegged to the USD. You should pay attention to the following points when buying Maker so that nothing goes wrong:
- Where is the best place to buy Maker? We recommend the online broker Libertex.
- Do I want to hold Maker for the long term or trade actively? That depends on your own trading strategy.
- How does a Maker Wallet work? A wallet usually stores the crypto coins. If you use the Libertex offer, however, you can do without this additional feature.
- Is it worth investing in Maker? Maker has risen a whopping 8,611.68% since its launch in 2017. Like many cryptocurrencies, Maker is currently experiencing an all-time high. High returns cannot be ruled out for the future either.
How to buy Maker? Our guide for beginners in 3 steps
Estimate Cost : EUR
Time Needed : 10000 days 00 hours 05 minutes
Let's devote ourselves at this point to a full-fledged guide on the subject of buying makers. We have chosen Libertex as the best broker for this. The provider impresses with an excellent trading portfolio, a high level of user-friendliness and a licence from the European Union. As one of the few brokers in the industry, Libertex also has makers on offer.
- Registering with a broker or crypto exchange
Before we can buy our first Maker coins, we first need an account. The registration at Libertex is quite self-explanatory and should be completed in a few minutes. However, it should be noted that you have to verify all information afterwards. Enter the usual suspect details such as name, address, telephone number and also e-mail. Fill in the data and then choose a password. Then quickly confirm the terms and conditions and you're done with registration.
- Buy Maker with credit card, instant transfer and more
Of course, you first need credit in your own account for a Maker Investment. This can be topped up in various ways. This can be done particularly comfortably via credit card, for example. But you can also bring money to the platform with Sofortüberweisung, Skrill, Neteller or other payment methods.
- Buy Maker cheap online
Now we can actually buy makers. At Libertex, crypto trading works with the help of so-called CFDs. For example, the cryptocurrency is offered as an MKR currency pair with the US dollar. It is therefore quite important to note that one does not buy the value oneself, but merely speculates on price developments.
This has the advantage that you do not need your own wallet. However, an increased risk must also be expected. First of all, enter Maker or the abbreviation MKR in the search field. This will take you to the overview page for the cryptocurrency. Now click on the trade button in your account. At the same time, a new window opens in which you can complete the trade. As an investor, you have several investment options at the same time.
- Buy or sell
1. In our case we have to set it to buy.
- How much MKR you want to buy.
2. Trade or order: Here you can choose whether you want to execute the trade immediately (trade) or with a time delay (order).
- Stop Loss and Take Profit:
At which loss or profit the position should be sold automatically.5. Leverage: With what leverage you want to buy Maker
Caution: This can quickly lead to an enormous increase in risk. Once you have set everything, you can finally open the
|Buy Maker with credit card|
|Buy Maker with PayPal|
|Buy Maker with SOFORT Bank Transfer|
|Buy Maker with Giropay|
|Buy Maker with Skrill|
|Buy Maker with bank transfer|
|Buy Maker with Neteller|
|Buy Maker with other payment methods|
What is Maker?
MKR is the decentralised ERC-20 token that is the platform’s means of payment. The network has long been a pioneer in the market. For example, the platform was one of the first with tradable tokens on the Ethereum network. Today, Maker is one of the most popular ETH-based platforms. Remarkably, more than 2.1 million ETH are locked into Maker CDP contracts.
Maker was also the first DAO ever. DAOs take over the functions of companies and convert all aspects into smart contracts. These systems allow a community to control an organisation in a transparent way. They are common in the market today, partly due to the success of Maker.
The founder and CEO of Maker is Rune Christensen, a Dane, and the team consists of about 35 people. Maker’s white paper was written in December 2017. More information about the company can also be found on the company website.
How does Maker work?
Maker seeks to address several problems in the traditional financial sector. The platform combines a unique set of proprietary technologies to accomplish this task. Today, Maker is an important part of the DeFi community. DeFi refers to the ever-growing sector of decentralised financial institutions. DeFi’s goal is to provide viable solutions to the centralised financial services currently available to the public.
MKR holders can participate in the governance of the ecosystem. Community governance gives users more control over the future of the network. In the Maker ecosystem, the decentralised governance mechanism is based on smart contracts for active proposals. These contracts are structured to give users control over the system and ensure a higher level of transparency across the platform.
MKR serves many purposes in the Maker system. For example, MKR can be used to send bitcoins. On the other hand, MKR also serves as a means of payment for transaction fees. In particular, MKR can be sent and received from any Ethereum account or smart contract.
What are Maker CFDs?
With cryptocurrencies, as with other financial instruments, you have the option of either buying real coins or in the form of CFDs. Although you will not acquire the cryptocurrency yourself, you can bet on the price trend.
CFDs are, after all, independent financial products that use certain underlying assets only as a price benchmark. Theoretically, with these contracts for difference one acquires a right to buy or sell the asset. As a result, the resulting gap between the purchase price and the sale price is taken as a profit or loss. Thus, an MKR CFD is also an all-or-nothing transaction.
Maker as CFD or buy real cryptocurrency?
Maker CFD Trading
- Fee advantage when trading
- Regulated by the state and subject to deposit insurance: you are protected from hacks and attacks
- No complicated set-up of a depot required
- Trading with leverage
- No “real” MKR Coins
- Fee disadvantage for long-term investors
- Risky investment: Large losses possible in case of leveraged (leveraged) trading
“Real” Maker Trade
- Possession of real Makers (MKR) that you can manage yourself
- Additional wallet allows you to buy, sell or exchange cryptocurrencies
- Steep learning curve
- Vulnerable to hacks and cyber attacks
- One is responsible for the management of coins oneself
- You often need an additional wallet for storage
With crypto CFD brokers, you can trade cryptocurrencies without actually owning them. This is advantageous because you don’t have to worry about storing them in a crypto wallet.
Libertex is a renowned CFD broker that shines with its large selection of cryptocurrencies, among other things. So if you want to invest in Maker via CFD trading, this is the best place to be.
Maker Buy or Sell?
Should you buy Maker or not? The high Maker price reflects that investors believe in the company’s promise and demand is increasing. It is quite possible that one will manage to sell Maker profitably if the price continues to rise. If the company continues to be successful, that is likely to happen. Then, despite the seemingly high price, an investment now could pay off at a later date after all.
Maker (MKR) became the first token to trade on the Ethereum network in the summer of 2015. Today, the project essentially consists of two parts: A stablecoin (the DAI token), and an autonomous distribution platform thanks to smart contract technology that trades the DAI token. On this platform, anyone can theoretically generate new DAI if he or she deposits a collateral value for it in the system. In this way, Maker can achieve the greatest possible price stability for DAI. The Maker Tokens, on the other hand, are strictly limited in number to 1 million tokens.
Since the Maker Token is based on the Ethereum platform, it can usually only be exchanged for Ether. A direct purchase of Maker is only possible with our test winner from the major providers. To actually own Maker, you have to exchange another cryptocurrency for a Maker Coin.
What are the fees when buying Maker?
Let’s take the following example when buying Maker:
- We buy Maker worth €1,000
- We hold our Maker for 30 days and then sell it again
- For simplicity’s sake, let’s assume that the exchange rate does not change during the 30 days
With these assumptions, we now go through the fees of the largest providers.
|Deposit||free of charge||free of charge||free of charge|
|Purchase fees||2,20 €||3,08%||0,1%|
|Holding fees||variable||0,05%||free of charge|
|Sales charges||2,20 €||0,05%||0.1,%|
|Payment||free of charge||3,08%||free of charge|
|Total fees||approx. 4,60 €||92,32 €||10 €|
It should be noted that the trading fees in the crypto area at Libertex (as well as at many other brokers) are by no means fixed. Rather, it is a variable interest rate. However, if you compare the provider with many other brokers in the industry, you will find that the fees are absolutely competitive. This also applies to maker buys.
Maker Course: Important Moments in the MKR Price History
Maker was already conceived in 2015, but it was only launched on the mainnet in December 2017. In general, the Maker community manages the decentralised cryptocurrency DAI, a stablecoin that is closely tied to the US dollar. The MKR tokens, on the other hand, act as a voting share for the project that manages DAI. With the MKR token, one also receives voting rights regarding the development of the project.
The cryptocurrency has already had some highs and lows. We show the most important milestones in the history of Maker.
- Issued in December 2017 with the aim of leveraging the Ethereum coin and giving a maker the value of one dollar. For this purpose, Maker was limited to 1 million. However, the price shot up from around 200 EUR to an incredible 1000 EUR within a short period of time.
- The hype continued after a short lull and rose to 1440 EUR. However, the market reacted to the fact that Maker had missed his point in leveraging Ethereum. The price plummeted to 400 EUR within 3 months.
- Various financial companies announce that Maker has potential Companies that use Maker can easily link their payrolls with dApps or Augur. The share price rose to almost 1000 EUR within a very short time.
- Maker announces to add DAI to the platform. This news caused the Maker price to rise from 300 to almost 600 EUR for several months. This Dai Coin is supposed to realise the value of 1 dollar.
- The market realises that the price of 1$ per DAI is realisable and so Maker’s share price rose from 300 EUR to almost 700 EUR.
- With the rise of Ethereum, Maker is also gaining ground as it is the more realistic currency for many investors as the DAI token mimics the $1 price. The Maker price rose from 400 to 650 EUR.
- The “Multi-Collateral DAI” (Multiple Security of the Dai Token) was announced. With this new security concept, the Maker price rose from €400 to over €600.
- The Corona virus hit the world’s stock market and also affected the Maker share price. The price fell from just under EUR 600 to EUR 230.
- The market is slowly adjusting to the values of pre-Corona times. This happens partly in “overnight” actions. It even slightly exceeds the average value of 600 EUR.
Maker Prize: Summary
The current Maker share price is EUR 1713.38 (as of 24.02.2021), which represents an increase in value since the launch of over 8611.68 %. Here is a short summary:
- 31 January 2017: The idea for Maker is presented for the first time. Even though the project was already conceived in 2015, the first test phases are now underway. The share price at this time is 22.49 EUR.
- 20 January 2018: After its launch on the mainnet in December 2017, Maker reaches its first record high of 1287.88 EUR. Interest is high, but the price falls again in the coming weeks. Between January 2018 and February 2020, the price fluctuates again and again.
- 17 March 2020: The Corona crisis also causes the Maker share price to collapse. The price plummets to 188.02 EUR.
- 05 February 2021: Interest in DeFi projects increases rapidly, Maker records an all-time high of EUR 2572.88.
Buy Maker with or without Wallet?
In general, a wallet is always the safest place to store cryptocurrencies. If the coins and tokens are stored on an exchange instead, it can happen that you lose access to them – for example in the event of a hack attack or if a broker becomes insolvent.
The use of a wallet is not necessarily more complicated than the handling of the common exchange platforms. A wallet is therefore recommended in any case.
However, the use of a wallet is not mandatory for trading with Maker. If you use the CFD broker Libertex, you do not need your own wallet, because you trade with Maker CFDs here. So you trade with a currency pair that is visible in the account.
However, you will not have real MKR coins at your disposal. Traders should ask themselves what purpose they are pursuing with their investment. If you want to become part of the network, CFD positions are of little use. Then you have to choose a crypto exchange that also offers the tokens for sale.
This is definitely associated with a certain amount of effort. However, this may be worthwhile especially if one is pursuing long-term investment goals. Finally, CFDs can also cause holding and follow-up costs that can be avoided with a direct investment.
The volatility that Maker also exhibits offers active traders numerous opportunities that can also be used without a wallet. In the end, it is really a fundamental decision of the trader.
Buy Maker Paypal: Where can you buy Maker with PayPal?
Paypal unfortunately only plays a very subordinate role on the exchanges, which has to do with the company’s guarantee regulations. Many brokers do not use Paypal, although it is one of the most convenient payment methods. Fees are only incurred with Paypal, for example, if you top up your Paypal account via credit card instead of via SEPA or an instant transfer. In this case, a flat fee of €0.35 is charged for the transfer and a 1.9% fee on the amount sent.
Paypal offers one of the easiest payment methods on the internet, and not only that: also one of the cheapest. Unfortunately, Libertex does not offer payment with Paypal.
Does it make sense to invest in Maker? Which cryptocurrency is the best investment?
Maker is one of the most popular DeFi projects at the moment, which is also reflected in the price of MKR. As the first tradable Ethereum token and DAo, Maker has proven to be a leader. Today, the network is more popular than ever, so it is all the less surprising that MKR has reached all-time highs recently.
If you want to invest in Maker for the long term, we recommend the CFD broker Libertex. In the future, it is safe to assume that the price of MKR will continue to rise as the DeFi sector continues to expand and investors are aware of the advantages of the tokens.
However, anyone who wants to buy real coins or is looking for alternatives will find what they are looking for here:
Alternative 1: Opportunities in the area of cryptocurrencies
Anyone who wants to invest in cryptocurrencies is naturally spoilt for choice. The most popular alternatives to Maker are:
- Buy Bitcoin: The top dog among cryptocurrencies is considered by many to be the “digital gold” and one of the most stable cryptos.
- Buy Ripple: Ripple has emerged as one of the most popular cryptocurrencies in recent months.
- Buy Ethereum: Ethereum is the solution for smart contracts and still the second most popular cryptocurrency out there.
Another alternative is crypto stocks: chip manufacturers, mining companies and even the Bitcoin Group have been able to post strong profits so far. So those who do not only want to trade cryptocurrencies can also profit from shares.
- Bitcoin Shares: For those who believe that Bitcoin Maker will outperform, Bitcoin Shares are a good alternative
- NVIDIA shares: NVIDIA produces important graphics chips especially for mining – if the crypto boom continues, NVIDIA is certainly a good investment
Maker Trading – Should you hold Maker for the long term or trade for the short term?
Whether you want to hold Maker for the long term or trade for the short term depends on your own trading strategies and risk management. It is important to also look at one’s own investment strategy. If you want to trade short-term and “aggressively”, you can definitely make a quick profit. Long-term investments are worthwhile for speculating on future price increases of MKR, for example.
Both are quite possible, as Maker is currently gaining more and more importance and popularity. As acceptance continues to grow and more innovations are also added to the DeFi market, Maker’s share price will also rise.
Buy Maker at bitcoin.de, coinbase, binance, Bison & Comdirect – Why we recommend Libertex as an alternative:
If you want to gain real possession of the coins and store them in a hardware wallet, for example, you can only do this via exchanges like Binance. However, no fiat transactions are possible on Binance, for example, and the platform itself has problems time and again. Moreover, the customer support is suboptimal.
However, if you want to speculate on MKR price movements, we strongly recommend a safe and intuitive crypto exchange. And here you should pay particular attention to the conditions.
Libertex is one of the largest online brokers on the internet. The company was founded in 1997 and can score points above all with a large number of assets, low fees and 20 years of experience in the financial market. However, it is important to keep the risk of CFD trading in mind. On the one hand, you can make big profits with CFD trading, but you can also make losses. We therefore recommend CFD trading for advanced traders.
Is it possible to buy Maker offline?
Since Maker is a digital currency, you cannot buy it offline. To buy Maker, you need a good crypto exchange and, if you want to be on the safe side, a wallet. However, the currency must be bought with an existing internet connection. However, if you want to store the currency offline, you can buy a hardware wallet.
On Libertex, you can speculate on the price movements of Maker. Thus, you do not need your own wallet here, but CFD trading is not possible offline here either.
Is it possible to buy Maker anonymously?
At the beginning of cryptocurrencies, it was indeed still possible to acquire coins anonymously. But this was only possible in a roundabout way. In the meantime, it is no longer easy to be truly anonymous when buying cryptocurrencies. In fact, if you take a closer look, you have to say goodbye to anonymous buying.
Thus, only really reputable platforms exist that allow the purchase of cryptos and ask for the users’ data. If you find a trading platform that does not do this, you are already in a grey area. But then you can also quickly fall for a scammer and lose your cash, but you haven’t received any maker. In this respect, one should pay attention to priorities.
We prefer to recommend the safe and reputable maker purchase at the online broker Libertex, instead of 100% anonymity. The lack of anonymity ensures the safety of all involved.
Can I buy Libertex without verification?
If you want to trade in cryptocurrencies, you cannot avoid verification with a crypto exchange. This is for your own protection and also for the protection of the exchange and the participants. After all, you want to trade with real people who have verified themselves. When you register on Libertex, the verification process is quick and uncomplicated.
Can I buy Libertex without registering?
If you want to buy Maker, the easiest way is with a crypto broker. In any case, however, registration is necessary. This offers both protection and security for investors and the exchange. You can register quickly on Libertex to buy Maker there. If you are still undecided, you can also benefit from the Libertex demo account, where you can first buy Maker with virtual credit.
How to sell Maker again: Our guide to Libertex
Selling Maker is as easy as buying via Libertex. We explain how this works here:
Step 1: Log in
The first step is to log in to the Libertex customer account as usual. You can do this either via your computer or via your smartphone or tablet. You can also log in via the app to sell Maker. So you have different options.
Step 2: Select Maker
In the next step, click on Active Trades. All positions that are currently open appear there. If you click on Maker, the following window opens:
When selling, you have several options, for example, you can also increase the trade amount or add a new trade position.
3. Sell maker
When you click on Close Trade, you will be asked again if you really want to close the position at this profit. You will be given further information such as the date the trading position was opened, the starting price, the multiplier and the profit. To sell Maker, simply click on “Yes, close”.
Buy Maker Conclusion – Our recommendation
Maker is currently one of the most popular DeFi platforms there is. This is also reflected in the MKR share price. After all, the share price has risen by 8611.68% since its launch on the mainnet. Experts and analysts assume that the price will continue to rise.
However, everyone must decide for themselves when is the right time to enter. Currently, DeFi projects are in high demand, and demand will continue in the coming months.
If one has decided to buy Maker, we recommend the CFD broker Libertex. Libertex has been in business for over 20 years, offers a wide range of tradable assets and has both a demo account and its own app.
Buy Maker: FAQs
How to buy Maker?
Maker is currently tradable in the form of CFD trading on Libertex.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/income-3.png alt= style=width: 100px;u003e
What is the difference between a broker and an exchange?
Brokers allow you to trade in the values via CFDs or options. On an exchange, you exchange currencies with other market participants. In order to be able to decide on a provider, Kryptoszene.de has compiled important assistance by comparing the best crypto exchanges.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/millionaire.png alt= style=width: 100px;u003e
Will the Maker value increase in the future?
DeFi projects are currently very much in demand and are gaining in popularity. This is also reflected in the MKR price. Since January 2020, there has been a rapid rise in the share price. Accordingly, one can assume that the price will continue to climb in the future.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/profit.png alt= style=width: 100px;u003e
Can I also use my Bitcoin Wallet for Maker?
This should be considered in advance when choosing a digital wallet. Not all wallets support multiple cryptocurrencies. Certain platforms already offer an online wallet. However, there are also very secure hardware wallets that support both bitcoin and maker. This is especially necessary if you are in possession of the real coins. For CFD trading, however, you do not need your own wallet.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/cryptocurrency-4.png alt= style=width: 100px;u003e
How do I find Makers at an Exchange?
The token of Maker is MKR. This makes it easy to find via exchanges.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/strategy-1.png alt= style=width: 100px;u003e
Buy Maker at Libertex: A good idea?
Libertex is a very good CFD broker, especially for advanced traders. By means of CFD trading, you can make big profits, but you also have to be aware of the risks. However, Libertex offers low-cost trading with Maker. In addition, the platform has a modern design, its own app and is fully licensed and regulated.u003cimg src=https://goldreward.io/wp-content/uploads/2021/06/millionaire.png alt= style=width: 100px;u003e