What is the process for becoming a MakerDAO governance token holder?

1 answers

• Pranav RaiApr 28, 2025 · 3 months ago
  To become a MakerDAO governance token holder, follow these steps: 1. Obtain Ether (ETH): You'll need Ether to acquire MakerDAO's governance token, MKR. You can purchase Ether from various cryptocurrency exchanges. 2. Set up a wallet: Choose a wallet that supports ERC-20 tokens, such as MetaMask or MyEtherWallet. Create a new wallet or import an existing one. 3. Purchase MKR tokens: Once you have Ether, you can buy MKR tokens from a cryptocurrency exchange that supports MKR trading. Some popular exchanges include Binance, Coinbase, and Kraken. 4. Transfer MKR tokens to your wallet: After purchasing MKR tokens, withdraw them from the exchange and transfer them to your wallet address. 5. Engage in governance: With MKR tokens in your wallet, you can participate in MakerDAO's governance by voting on proposals and contributing to the decision-making process. Remember to stay informed about the latest updates and news from MakerDAO to make informed decisions.
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