cDAI wallet

The best cold wallet for your cDAI coins

Secure your cDAI coins with the most trusted crypto wallet. Cold storage wallets are encrypted devices that store your cDAI assets offline, providing a layer of security against the evolving threats emerging from being connected to the internet.
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What is cDAI?

Compound DAI, abbreviated as cDAI, is a cryptocurrency issued by the Compound Protocol. The Compound Protocol is a smart contract on the Ethereum blockchain that enables users to lend or borrow digital assets. By borrowing their cryptographic funds through the platform, users can earn interest on their investments.

The Compound protocol offers various loan pools to users to lend their cryptographic funds. When a user decides to lend their funds, they can choose which loan pool to deposit them in based on the desired currency. If a user decides to lend their funds in the DAI loan pool, they will receive a corresponding amount of tokens. DAI is a stablecoin that is stabilized against the value of the US dollar. DAI and cDAI adhere both to the ERC20 standard and are therefore stored and traded on the Ethereum blockchain.

While your invested funds remain in DAI, they are backed by cDAI and you earn interest in cDAI. You can trade your cDAI freely, but your original DAI cannot be traded or transferred while it is held in the protocol and accruing interest. When you choose to withdraw your investment and exit the protocol, the cDAI you own will be converted back to DAI and your funds will be returned to you in their original form: DAI coins.

What is a cDAI wallet?

To store and manage cDAI, you need a compatible crypto wallet. Manage your coins with a compatible third-party wallet while keeping them safe with a Ledger device:

Ledger hardware wallet

Ledger hardware wallet stores your private keys and signs transactions offline, making them resistant to malicious attacks and threats.

Third-Party Wallet

Third-party wallet allows you to buy, send/receive, and swap cDAI, view transaction history, and more, depending on its capabilities.

How to get a cDAI wallet?

01

Get Ledger Nano

Select and purchase a Ledger wallet of your choice. Beginner in the crypto world? Get started with Nano S Plus. Prefer a Bluetooth connection? Try with Nano X.

Get Ledger NanoCompare Ledger cold wallet

02

Download and install extension

Download and install a compatible third-party wallet that lets you manage your cDAI.

Download extension

03

Connect your Ledger Nano to wallet

  1. Connect your Ledger Nano to a computer/smartphone and unlock it.2. Open your wallet extension.
  2. Connect your wallet to Ledger Nano.

You’re all set, you can now use wallet!

Buy, manage, and stake cDAI at your fingertips

Ledger Live is your one-stop platform for smooth and complete asset management. With just a few clicks, you can buy, send/receive, (swap), and stake cDAI to generate passive income. Buy, send/receive, swap, stake, and other crypto transaction services are provided by third-parties partners.

1

The best way to keep your cDAI coins secure

Secure multiple assets, including cDAI using a Ledger hardware wallet. Your private keys, giving access to your assets, remain safe in a certified secure chip.

Ledger Nano S

NEW

LEDGER NANO S PLUS

Protect your cDAI assets with the first and only independently-certified cDAI wallet on the market.

Discover our Nano S Plus
Ledger Nano X

BEST SELLER

LEDGER NANO X

The Ledger Nano X is a Bluetooth enabled secure and CES award winning device that protect your cDAI assets.

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Choice of 5,000,000+ customers

Bertil A.

5/5

In order to secure cryptocurrencies, Ledger is the perfect tool.

Kevin L.

5/5

Simply a very elegant peace of hardware, with a gorgeous UI in the app.

James P.

5/5

ALL is good, all legal resources bought was as specified and compliant, party on.

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Frequently Asked Questions

When you first buy crypto, you’re issued with two keys: public and private.

  • A public key serves as an address that can be shared with other parties to perform transactions.
  • A private key represents a randomly generated number that signs transactions and protects your assets from malicious attacks. If it gets compromised or lost, you won’t be able to access your cold wallet to spend, withdraw, or transfer your tokens.

To safeguard and keep track of your keys, you can use online or offline wallets. Online wallets, also known as hot wallets, store private keys on systems or devices that are connected to the internet. Hot wallets are easy and convenient to use, however, they come with several drawbacks. Besides being susceptible to attacks and a honeypot for hackers, with hot wallets, the custody of private keys is often entrusted to a third party such as a crypto exchange, which means you never have full control over your funds. The safer choice are specialized hardware wallets that store private keys offline. Stealing private keys from a hardware wallet would require physical access to the wallet and corresponding PIN or the recovery phrase. What’s more, with hardware wallet, you don’t need to rely on third party custodians.

Ledger Nano is the industry-leading hardware wallet. With more than five million customers, Ledger Nano wallets have several layers of security that protect private keys, and hence your assets:

  • Your private keys are stored on secure element chips.
  • A PIN code and a 24-word recovery phrase are required to access the wallet.
  • Ledger Nano wallets have been built using highly durable materials for protection against physical damage.

With full isolation between private keys and your computer/mobile, Ledger Nano wallets keep your keys secure and give you complete control over your assets.

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