I remember putting my first stablecoins into my Metamask wallet. Metamask is a popular multi-chain wallet with many customization options (It can be OVERWHELMING for beginners).
DAI is a decentralized digital dollar, also known as a stablecoin that is designed to maintain price equivalence to the value of the US Dollar. In other words, it is pegged 1:1 to the US Dollar.
Did you Know? DAI, being the first decentralized stablecoin, kickstarted the DeFi Revolution.
If you want to get right to the point, here’s a quick guide:
How to Add DAI to Metamask
There are numerous methods for adding DAI to Metamask.
Here’s our 5-Step Process:
STEP 1. Launch Metamask App and Unlock it
The first step is to access the Metamask wallet and unlock it by typing your password.
STEP 2. Pick a Blockchain Network
DAI can be added to Metamask on a wide range of EVM-compatible networks (We will cover them all).
The most popular blockchain networks are Ethereum, Polygon (MATIC), Binance Smart Chain (BSC), Avalanche, and Fantom. Others include Harmony one Network.
Note: Metamask connects to the Ethereum Mainnet by default. If you want to use another network, such as Avalanche, click “add network” and choose whether to add the network automatically (from a list of popular networks) or manually by typing the network information.
STEP 3. Scroll down and click on Import Tokens
Go to your Metamask Wallet, under don’t see your token? Click on Import tokens
STEP 4. Search DAI or Import Token Contract Address
If you pick the Ethereum Mainnet, you can input DAI on the Search bar.
If you pick a different network, you will need to switch to that network, go to import token, and input the token contract address.
STEP 5. Add Stablecoin Dai (DAI) Token
The final step is to import the DAI token. If you pick the Ethereum Mainnet, just select the Stablecoin Dai (DAI), click on Next, and Import Tokens.
If you wish to use a different network, click on add custom token and then Import Tokens.
Sinple isn’t it?
If you want a DETAILED, step-by-step guide here’s what we’ll cover:
Table of Contents:
1. How to Add DAI to Metamask in 5 STEPS
This section will show how to add DAI token to the most popular blockchain networks.
DAI is a popular stablecoin with a presence in many different blockchain networks. To add DAI we will need to add DAI network to Metamask first.
According to coinmarketcap, it ranks 11th in terms of market capitalization (~$5 Billion).
DAI was issued by the Maker Protocol. Maker is an Ethereum-based protocol that allowed the creation of the first decentralized stablecoin, DAI.
History Fact: Maker pioneered decentralized lending by allowing Ether and later other altcoins to be used as collateral to borrow DAI.
To add DAI to your Metamask wallet, always ensure that the network you want to add DAI is selected. By default, Metamask connects to the Ethereum Mainnet.
Without further ado, select the network you want to use by clicking on the appropriate tab. Launch your Metamask wallet extension and unlock it by entering your password.
How to add DAI on the ERC20 Network
The Ethereum Mainnet (ERC20 Network) is the principal public production blockchain for Ethereum, where actual transactions and value exchanges take place.
By default, Metamask connects to the Ethereum Mainnet. Ensure your Metamask Wallet is connected to the Ethereum Mainnet. Otherwise, you will not be able to import DAI to Ethereum.
Follow the steps below to add DAI to your Metamask wallet on the Ethereum (ERC-20) network.
STEP 1: Select Ethereum Mainnet (ERC-20) Network
Once you have launched your Metamask extension and unlocked it by entering your password, ensure you are on the Ethereum Mainnet.
If your Metamask application is connected to another network, switch back to Ethereum Mainnet.
STEP 2: Click on Import Tokens (Under don’t see your Token)
When you’ve selected the right network, scroll down till you see don’t see your token? And then select Import tokens.
STEP 3: Search for DAI on the Search Bar
DAI is one of the most popular stablecoins on the Ethereum Mainnet.
Fortunately, you just need to type DAI on the search bar and select Dai Stablecoin (DAI)
STEP 4: Import DAI Stablecoin (DAI) Token
After you choose the DAI Stablecoin (DAI) from the list, click “Next” and then “Import Tokens.”
TADA! Now you will see DAI on your Metamask wallet
How to add DAI to Metamask Polygon
Polygon is a layer-2 or sidechain that was designed to address one of Ethereum’s primary issues: scalability.
Polygon (MATIC) improves Ethereum transaction speed while lowering fees.
If you wish to add DAI to Metamask on the Polygon (MATIC) network. Follow these steps:
STEP 1: Select the Polygon Mainnet (MATIC)
Once you have launched your Metamask extension and unlocked it by entering your password, ensure you are on Polygon Mainnet.
If you don’t have the Polygon Mainnet under your list of networks, you must add polygon network to Metamask. Go to add networks and pick Polygon Mainnet.
STEP 2: Click on Import Tokens (Under don’t see your token)
When you’ve selected Polygon Mainnet as your default network, scroll down till you see don’t see your token? And then click on “Import tokens.”
STEP 3: Copy & Paste the DAI Polygon Token Contract Address
The next step is to get the DAI Polygon token contract address. You can find that address on coinmarketcap or if you prefer, copy the address below:
DAI Polygon Token Contract Address: [0x8f3Cf7ad23Cd3CaDbD9735AFf958023239c6A063]
STEP 4: Add DAI to Metamask polygon
When you paste the token contract address, the Stablecoin DAI (DAI) information will populate automatically.
Click on add custom token and import tokens, then double-check that DAI is in your wallet.
How to add DAI to Metamask Binance Smart Chain (BSC)
The Binance Smart Chain (BNB Chain) is another popular blockchain network established by the renowned Chinese platform Binance. Binance designed its own chain with MetaFi (DeFi + Metaverse) in mind.
If you wish to add DAI to Metamask BSC. Follow these steps:
STEP 1: Select the Binance Smart Chain (BNB Chain)
Once you have launched your Metamask extension and unlocked it by entering your password, ensure you are on the BNB Chain network.
If you don’t have the BNB Smart Chain under your list of networks, go to add networks and select the BNB Smart Chain (previously Binance Smart Chain Mainnet).
STEP 2: Click on Import Tokens (Under don’t see your token)
When you’ve selected Polygon Mainnet as your default network, scroll down till you see don’t see your token? And then click on “Import tokens.”
STEP 3: Copy & Paste the DAI BNB Chain Token Contract Address
The next step is to get the DAI BNB Chain token contract address. You can find that address on coinmarketcap or if you prefer, copy the address below:
DAI BNB Smart Chain (BEP20) Token Contract Address: [0x1af3f329e8be154074d8769d1ffa4ee058b1dbc3]
STEP 4: Add DAI to Metamask Binance Smart Chain
When you paste the token contract address, the information will populate automatically.
Click on add custom token and import tokens, then double-check that Dai Stablecoin (DAI) is in your wallet.
How to add DAI to Metamask Avalanche C-Chain
Avalanche is one of the cheapest networks to transact.
Unlike Ethereum, which uses Layer 2 scalability networks to enhance bandwidth. Avalanche is reliant on its main chain.
If you wish to add DAI to Metamask on the Avalanche C-Chain. Follow these steps:
STEP 1: Select the Avalanche C-Chain
Once you have launched your Metamask extension and unlocked it by entering your password, ensure you are on the Avalanche C-Chain.
Otherwise, click on the network dropdown box and select Avalanche Network.
If you haven’t added Avalanche C-Chain to your Metamask Wallet, go to add networks and select Avalanche C-Chain.
STEP 2: Click on Import Tokens (Under don’t see your token)
When you’ve selected Avalanche C-Chain as your default network, scroll down till you see don’t see your token?
And then click on “Import tokens.”
STEP 3: Copy & Paste the DAI Avalanche Token Contract Address
The next step is to get the DAI Avalanche token contract address. You can find that address on coinmarketcap or if you prefer just copy the address below:
DAI Avalanche C-Chain Token Contract Address: [0xd586E7F844cEa2F87f50152665BCbc2C279D8d70]
STEP 4: Add DAI to Metamask avalanche
When you paste the token contract address, the information will populate automatically.
Click on add custom token and import tokens, then double-check that DAI.e is in your wallet.
QUESTION: But, wait for a second, is DAI the same as DAI.e?
No. DAI.e is a “bridged form of Ethereum DAI (DAI is originally an ERC20 token)” that was bridged from the Ethereum Blockchain via the Avalanche Bridge.
Avalanche does not support ERC20 tokens natively. Instead, it uses an EVM-compatible bridge (AB) that supports the transfer of ERC20 tokens from Ethereum to Avalanche’s C-Chain and vice versa.
If all of this sounds too complicated use another blockchain network from the list or later “unwrap” DAI.e into native DAI via the official avalanche bridge.
How to add DAI to Metamask Fantom
Fantom is a smart contract platform for decentralized applications (dApps) similar to Ethereum. Fantom seeks to create a low-cost, high-speed alternative to Ethereum.
If you wish to add DAI to Metamask fantom. Follow these steps:
STEP 1: Select the Fantom Opera Network
Once you have launched your Metamask extension and unlocked it by entering your password, ensure you are on the Fantom Opera Network.
If you don’t have Fantom Opera under your list of networks, go to add networks and select Fantom Opera.
STEP 2: Click on Import Tokens (Under don’t see your token)
When you’ve selected Polygon Mainnet as your default network, scroll down till you see don’t see your token? And then click on “Import tokens.”
STEP 3: Copy & Paste the DAI Fantom Token Contract Address
The next step is to get the DAI Fantom token contract address. You can find that address on coinmarketcap or if you prefer, copy the address below:
DAI Fantom Token Contract Address: [0x8D11eC38a3EB5E956B052f67Da8Bdc9bef8Abf3E]
STEP 4: Add DAI to Metamask Fantom
When you paste the token contract address, the right information will populate automatically.
Click on add custom token and import tokens, then double-check that DAI Stablecoin (DAI) is in your wallet.
2. How to Send DAI to Metamask
Many people have asked me how to send DAI to Metamask after adding DAI to their Metamask Wallet.
In this section, I will show you how to send DAI from Binance to Metamask.
Here are the steps to withdraw DAI from Binance to Metamask Wallet:
- Step 0: Sign up for Binance
- Step 1: Go to Wallet
- Step 2: Select Fiat & Spot
- Step 3: Search for DAI
- Step 4: Next to DAI click on Withdraw
- Step 5: Input Metamask Wallet* (E.g., BNB Chain)
- Step 6: Select Blockchain Network (E.g., BSC BNB Smart Chain)
- Step 7: Input the Withdrawal Amount (Minimum 10 DAI)
- Step 8: Click on Withdraw
*In Metamask, the wallet address is under your account name (initial page). Ensure you are on the same network you would like to send your DAI to. Easy, RIGHT?
Note: Check that you have added to Metamask the blockchain network you would like to use.
3. Conclusion
DAI Stablecoin (DAI) is the most traded decentralized stablecoin in the crypto market (with a daily trading volume of more than $151 million). It is regulated and managed by MakerDAO (a decentralized autonomous organization).
We have seen 5 ways to add DAI to your Metamask wallet, depending on the blockchain network you choose.
If you have a brand new Metamask wallet, the default network will be the Ethereum Mainnet. In that case, you only need to look for DAI Stablecoin (DAI) and add it to your Metamask wallet.
For other networks, you must first add the blockchain network (if you haven’t already) and then import the DAI token contract address from a reputable site such as coinmarketcap or coingecko.
Let’s recap our 5-step process:
- Step 1: Launch Metamask App and Unlock it
- Step 2: Pick a Blockchain Network (Ethereum, Avalanche C-Chain, Polygon, BNB Chain, or Fantom).
- Step 3: Scroll down and click on import tokens
- Step 4: Search for DAI or Import Token Contract Address from coinmarketcap.
- Step 5: Add Dai Stablecoin (DAI) Token to your Metamask
We have also learned how to transfer DAI to Metamask. Simply search for DAI on Binance and ensure that the wallet address matches the network you want to use.
We hope you enjoyed this guide! Check our FAQs if you would like to know more!
4. FAQs
How do I transfer DAI to ETH on Metamask?
To transfer DAI to your Ethereum Wallet within Metamask follow these steps:
- Step 1: Look for a bridge (E.g., cbridge, Binance Bridge, Umbria Narni Bridge)
- Step 2: Connect your Metamask Wallet
- Step 3: Select the Network (E.g., From Avalanche to Ethereum Mainnet)
- Step 4: Bridge DAI Tokens
What network is DAI on Metamask?
DAI is an ERC20 decentralized stablecoin that MakerDAO launched on the Ethereum Blockchain in December 2017.
What Wallets support DAI?
DAI, as one of the most traded cryptocurrencies, is supported by plenty of wallets. From hardware wallets like the Ledger Nano X, Ellipal, and SafePal to software wallets like Metamask, Trust Wallet, and Guarda Wallet.
