To be able to fully understand Maker (MKR), we should look at MakerDAO first. MakerDAO is one of the oldest DeFi projects of the cryptocurrency ecosystem. MKR cryptocurrency was launched on December 18, 2017 by the MakerDAO platform.
To buy and sell Maker (MKR) on ICRYPEX Crypto Exchange:
First of all, you need to fill in name, surname, phone and email address areas by clicking "Sign Up".
After completing all required fields of the membership, you can deposit TRY from your bank account by clicking "Deposit" or you can start your investment by transferring your MKR to your MKR wallet you have created in "My Assets".
For the investments you will make through a bank you should write ICRYPEX Bilişim AŞ to the recipient / title area. The transfers made with a different, wrong or missing recipient name will be rejected by the bank.
Transaction code on the deposit section should be noted to be written on the receipt. Your transfers are made on TRY deposit accounts belonging to your name.
After depositing TL to your wallet, you can buy MKR easily either by going to the "Easy Buy and Sell" screen or by clicking "Easy Buy". To complete the buying process, you need to enter the MKR amount you want to buy and choose the rate price and give a buy order. After completing your MKR buying transactions you can evaluate your investments by following the market conditions.
ICRYPEX allows you a quick and secure Maker (MKR) trading with its 24/7 Customer Representatives appointed to every user and its daily and weekly analysis support.
Maker (MKR) works with the DAI cryptocurrency on the same platform as the cryptocurrency specific to the MakerDAO platform. DAI is a decentralized stablecoin based on the Ethereum blockchain and it is pegged to the US dollar (1 USD per 1 DAI) to eliminate daily fluctuations, and is backed by guarantees.
As a Utility Token, Maker (MKR) is required to pay the fees incurred on the collateralized debt position (CDP) used to generate the DAI in the Maker system. These fees can only be paid with MKR and when paid, MKR is removed from supply by burning. This means that if DAIs and CDPs are adopted and the demand for them increases, there will be an additional demand for MKR in order for users to pay the fees. It also means that the supply will decrease as the MKR is burned.
As a Governance Token, Maker (MKR) is used by users who have Maker (MKR) cryptocurrencies in their wallet to vote for the Maker system's business logic, updates, and improvements.