Stoppage of Business

Score

0123456789.01234567890123456789
/10

MakerDAO

China Hong Kong

|

Stoppage of Business

2-5 years|

Suspicious Regulatory License|

High potential risk

https://makerdao.com/

Website

Rating Index
Contact
MakerDAO
support@makerdao.com
https://makerdao.com/
Influence
E

Licenses

No effective regulatory information has been founded yet, please pay attention to the risks!

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Company Name
MakerDAO
Phone of the company
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Facebook
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Customer Service Email Address
support@makerdao.com
press@makerdao.com

WikiBit Risk Alerts

2
Previous Detection 2024-10-14

This Exchange has ceased its operation, and it has been listed in WikiBit's shut down list of Exchange; please be aware of the risk!

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

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1 ratings

Participate in evaluation
Adams709
MakerDAO's decentralized governance model and focus on creating stablecoins provide a solid foundation for the DeFi space. The project's commitment to decentralization is impressive.
2023-12-25 18:56
1
AspectInformation
Company NameMakerDAO
Registered Country/AreaSwitzerland
Founded Year2014
Regulatory AuthoritySwiss Financial Market Supervisory Authority (FINMA)
Number of Cryptocurrencies Available3
FeesVaries depending on the transaction type
Payment MethodsCryptocurrency transfer

Overview of MakerDAO

MakerDAO is a virtual currency exchange platform that was founded in 2014. The company is based in Switzerland and operates under the regulatory authority of the Swiss Financial Market Supervisory Authority (FINMA). MakerDAO offers a selection of 3 cryptocurrencies for trading. The platform's fees vary depending on the type of transaction, providing flexibility for users. Payment methods on MakerDAO are limited to cryptocurrency transfers. Customer support is available through email and online chat, ensuring users have access to assistance when needed. Overall, MakerDAO provides a secure and regulated environment for trading virtual currencies.

Pros and cons

ProsCons
Regulated by Swiss Financial Market Supervisory Authority (FINMA)Limited payment methods, only supports cryptocurrency transfers
Secure and transparent trading environmentFees vary depending on transaction type
Responsive customer support through email and online chatAvailable cryptocurrencies for trading are limited to 3

Regulatory Authority

MakerDAO operates under the regulatory authority of the Swiss Financial Market Supervisory Authority (FINMA), ensuring that it complies with the necessary financial regulations. This regulation provides several advantages for traders, including a secure and regulated trading environment, protection for user assets, and transparency in transactions. It gives traders confidence in the platform and helps mitigate risks associated with fraudulent activities and scams.

Security

MakerDAO prioritizes the security of user assets and implements various protection measures. The platform utilizes industry-standard security protocols and encryption technologies to safeguard user information and prevent unauthorized access. MakerDAO also employs comprehensive security auditing and penetration testing to identify and address vulnerabilities in its system.

To protect user funds, MakerDAO utilizes a multi-signature wallet system, which requires multiple authorized parties to approve transactions. This helps to prevent unauthorized withdrawals and provides an additional layer of security.

Furthermore, the platform maintains a strict verification process for user accounts, which includes the use of two-factor authentication. This helps to ensure that only authorized individuals have access to user accounts and helps to prevent unauthorized access.

How to open an account?

1. Visit the MakerDAO website and click on the “Sign Up” button to begin the registration process.

2. Provide your personal information, including your name, email address, and desired password.

3. Verify your email address by clicking on the verification link sent to your email.

4. Complete the Know Your Customer (KYC) process by submitting the required identification documents, such as a valid government-issued ID or passport.

5. Set up two-factor authentication (2FA) to enhance the security of your account. This can be done by linking your account to a mobile app or receiving SMS codes.

6. Agree to the terms and conditions of MakerDAO and submit your registration. Once your registration is approved, you will have access to the platform's trading features and services.

Payment Methods

MakerDAO currently only supports cryptocurrency transfers as payment methods. The processing time for transfers may vary depending on network congestion and the specific cryptocurrency being used. It is recommended to check the individual cryptocurrency's network status and estimated confirmation times for more accurate information on processing times.

FAQs

Q: How does MakerDAO comply with financial regulations?

A: MakerDAO operates under the regulatory authority of the Swiss Financial Market Supervisory Authority (FINMA), ensuring that it adheres to necessary financial regulations and operates within a regulated framework.

Q: What payment methods are supported by MakerDAO?

A: MakerDAO currently only supports cryptocurrency transfers as payment methods.

Q: What is the selection of cryptocurrencies available for trading on MakerDAO?

A: MakerDAO offers a selection of 3 cryptocurrencies for trading.

Q: What are the fees on MakerDAO?

A: The fees on MakerDAO vary depending on the type of transaction.

Q: What customer support channels are available on MakerDAO?

A: MakerDAO offers responsive customer support through email and online chat.

Q: Does MakerDAO have educational resources and tools for traders?

A: Unfortunately, there is no information provided about the educational resources and tools offered by MakerDAO.

Q: How long does it take for transfers to be processed on MakerDAO?

A: The processing time for transfers on MakerDAO may vary depending on network congestion and the specific cryptocurrency being used. It is recommended to check the individual cryptocurrency's network status for more accurate information on processing times.

Q: Does MakerDAO offer any other products or services?

A: Unfortunately, there is no information provided about other products or services offered by MakerDAO.

Q: What are the advantages of using MakerDAO?

A: MakerDAO provides a secure and regulated trading environment, responsive customer support, and prioritizes the security of user assets.

Q: What are the disadvantages of using MakerDAO?

A: MakerDAO has limitations such as limited payment methods, a small selection of cryptocurrencies for trading, and fees that vary depending on transaction type.

ExchangeBREAKING: MakerDAO Halts Plan to Impact the Fate of Binance-Listed Cryptocurrency
Decentralized finance (DeFi) lender Sky, formerly known as MakerDAO, is reconsidering its plan to no
WikiBit

2024-09-25 09:00

BREAKING: MakerDAO Halts Plan to Impact the Fate of Binance-Listed Cryptocurrency
TokenMakerDAO Co-Founder Says Stablecoin Rebrand Will Have Freeze Function, But DAI Will Continue As Normal
The co-founder of decentralized finance (DeFi) platform Maker (MKR) says that the rebrand of its sta
WikiBit

2024-08-29 06:04

MakerDAO Co-Founder Says Stablecoin Rebrand Will Have Freeze Function, But DAI Will Continue As Normal
TokenMakerDAO Is Now 'Sky' as $7B Crypto Lender Rolls Out New Stablecoin, Governance Token
The new USDS stablecoin and SKY governance token will be available on Sept. 18 with a new DeFi appli
WikiBit

2024-08-27 20:39

MakerDAO Is Now 'Sky' as $7B Crypto Lender Rolls Out New Stablecoin, Governance Token
TokenAave and MakerDAO: DeFis Big Players Make Big Moves
The decentralized finance (DeFi) sector is witnessing significant developments, with Aave and MakerD
WikiBit

2024-08-15 03:16

Aave and MakerDAO: DeFis Big Players Make Big Moves
TokenGrayscale Expands Crypto Portfolio With New MakerDAO Trust
Grayscale Investments has launched the Grayscale MakerDAO Trust, marking an enhancement to its suite
WikiBit

2024-08-13 21:04

Grayscale Expands Crypto Portfolio With New MakerDAO Trust
TokenPatent at Crux of MakerDAO Lawsuit Purchased, Ending Crypto Tech Dispute
The DeFi Education Fund (DEF) on Monday reached an agreement with True Return Systems (TRS) to purch
WikiBit

2024-08-13 10:03

Patent at Crux of MakerDAO Lawsuit Purchased, Ending Crypto Tech Dispute
TokenDEF purchases patent at center of suits against MakerDAO and Compound
The DeFi Education Fund said it purchased a patent from True Return Systems that will end litigation
WikiBit

2024-08-12 23:54

DEF purchases patent at center of suits against MakerDAO and Compound
TokenTop DeFi Platforms in Digital Finance: dYdX, Lido, MakerDAO, Aave and Uniswap
dYdX offers traders tools for trading without KYC, making it accessible and anonymous with competiti
WikiBit

2024-08-11 19:04

Top DeFi Platforms in Digital Finance: dYdX, Lido, MakerDAO, Aave and Uniswap
TokenThis Is Whats Happening in DeFi: dYdX, 3Jane, MakerDAO, and More
The decentralized finance (DeFi) sector continues to evolve, with several significant launches and u
WikiBit

2024-06-04 23:09

This Is Whats Happening in DeFi: dYdX, 3Jane, MakerDAO, and More
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