How & Where to Buy Dash (DASH) - Beginner's Guide (2024)

How to Buy Dash - Step-by-Step Guide

When you are hoping to hodl your Dash coins for a drawn-out investment, utilising a crypto exchange is the best approach. These are for the traders who accept the price of DASH tokens will keep on ascending in the coming months or for those crypto fans who have confidence in the DASH venture.

Before you select a crypto exchange, you have to evaluate each one of them to gauge a number of features including UI, customer care, available payment modes, cost of transaction and more. You must also be careful about certain exchanges that aren’t regulatory compliant and may not be as secure as some of the top services.

1. Set up a Dash Wallet

Before you buy DASH tokens, you need to ensure that you own a cold or software wallet to hold your tokens securely. This step may give off the impression of being a complex process from the start; however, the industry has progressed significantly, and these procedures are easier than ever.

Depending upon the timeframe for which you need to store your Dash, you can pick between various kinds of crypto wallets:

• Exchange/Web Wallets – These are browser crypto wallets that either come in the form of a site, an extension of a browser, or are included in your exchange website.
• Software Wallets – These come as desktop or mobile applications and offer reasonable security alongside a diverse range of features.
• Hardware Wallets – When you would prefer not to compromise on your DASH coins’ security, cold wallets are the best approach since they are totally separated from any network and have equipment inside to guard your digital assets.

2. Choose and Join an Exchange That Sells Dash

With regards to joining a crypto exchange, there are numerous industry-driving services you can depend on including CEX.io, Binance, and Coinbase.

You can buy your Dash tokens from these exchanges, however, before you decide, ensure that you are selecting the exchange that meets your requirements. A few websites may need additional individual data and charge you high fees while others may be more tolerant of the exchange rates.

You need to gauge the upsides and downsides of each exchange before you join. If the trading platform is regulated, you will need to confirm your identity by providing proof, for example, a driver’s permit or a utility bill.

3. Choose Your Payment Methods to Buy Dash

After you have selected the cryptocurrency exchange, it is time to evaluate the assortment of payment modes that are offered by your chosen service and which one will be a superior choice according to your investment objectives.

For instance, you can pick wire transfer, debit or credit card, and other e-payment methods to purchase DASH tokens, however, first you’ll need to find an ideal blend of speed, comfort, and transaction expenses.

4. Place an Order to Buy Dash

To buy DASH, you may initially be required to purchase a well-known coin like Bitcoin or Ethereum through the exchange you have picked. A few services may sell you DASH tokens for traditional cash but some may not. You will also need to choose the fiat money that you’ll use to buy your assets.

The website will tell you the number of DASH tokens that you can purchase for that amount. When you have gone through this progression, you can send in your buy request.

If you have enabled two-factor authorisation, known as 2FA, you will receive an OTP which you should enter before the transaction is processed. This guarantees improved security.

5. Safely Storing Your Dash in a Wallet

If your investment approach is based on a long-haul approach, it isn’t wise to leave your DASH tokens in the website’s wallet or account. While they are somewhat secure, they are additionally at a high risk of cyberattacks and encountering technical issues. This is the reason why it is important that you move your DASH coins to a more secure crypto wallet.

Again, if you have 2FA enabled, you will need to enter the OTP to confirm the transfer.

5 Things to Consider If You Want to Buy Dash

There are five key factors that everyone should consider before purchasing Dash. By paying proper regard to these important issues, you help safeguard your transaction and ensure that it can be completed with the security and speed that you would desire.

Carefully choose your preferred secure payment method

Firstly, choosing a secure payment method is particularly important, as this will help secure your initial transaction. Although this may seem relatively straightforward, in reality, different locations have a variety of payment methods available. Paying heed to the speed and cost of the payment systems available is definitely to be recommended prior to initiating the purchasing process.

Will you need to set up your own wallet?

You don’t necessarily have to set up your own wallet in order to use Dash, but it is definitely advisable. Wallets are usually built into the cryptocurrency exchange that you used to purchase and sell coins. But these can pose security risks. It is therefore advisable to set up your own Dash wallet, although entering into a CFD agreement via a recommended broker will also secure any transactions and funds without the need of setting up a wallet of any kind.

Comparing costs

Any fees or costs associated with transactions should also be confirmed before entering into any Dash transactions. While cryptocurrencies do attract fees, it should also be understood that these are much more affordable than traditional alternatives to money transfers. This has been one of the ways that cryptocurrency platforms have managed to attract users.

Safety and security

Safety and security can vary massively across various cryptocurrencies, as each token uses different protocols and methods. There are a variety of security features used in order to secure altcoins, and each has its own method of ensuring security.

Dash uses a different algorithmic approach to Bitcoin, being based on a Proof of Stake (PoS) system. It also uses a proprietary transport protocol, which encrypts data and scrambles transactions, ensuring privacy on its blockchain.

Dash has also been praised for instigating a system of master nodes, which enables the cryptocurrency to be far more scalable than the market-leading Bitcoin. This means that Dash is ideally placed to become a major payment system in the foreseeable future.

Can you understand and navigate the platform?

Dash is not as well known as the likes of Bitcoin and Ethereum. But its moon is rising, and it has already established itself as one of the most popular cryptocurrencies in the world. This has led to a significant amount of investment in its blockchain, meaning that the Dash platform and system are becoming increasingly user-friendly. It also boasts a helpful community, which is only too happy to assist new Dash users.

What Fees Are Involved?

Purchasing Dash tends to involve some minor fees, particularly when you are using digital exchanges. These are pretty small in scale, but you should take the following into consideration before making any purchases.

Transaction Fees

Transaction fees associated with Dash are so small as to be virtually zero. Some exchanges will charge dynamic fees for holding Dash in wallets, so this should be taken into consideration before committing to investments.

Deposit Fees

Deposit fees for Dash are dependent on the exchange in question, so shopping around can pay dividends.

Withdrawal Fees

Withdrawal fees can also vary from one exchange to another, but it is certainly worth bearing in mind that many exchanges do not charge for withdrawals at all.

Safely Storing Your Dash

In order to safely store Dash as a cryptocurrency, it is necessary to access a wallet system. These innovative software packages enable you to keep and store the coin safely.

Web Wallet

Web wallets are included within brokerage and exchange systems. It’s perfectly viable to store Dash via a web wallet, but it cannot be considered the most secure approach. Web wallets offer some safety measures but are much more vulnerable to hacking than the other solutions listed here. Another problem with any wallet provided by a broker or exchange is that such businesses have ceased trading previously. Coinomi is a popular web wallet for Dash.

Mobile Wallet

As the name would suggest, mobile wallets are used in mobile devices, and can be considered the most convenient way to store Dash and other cryptos. While they offer superior security to exchanges, mobile wallets become vulnerable when hackers gain access to mobile devices. Mobile Dash wallets include Dash Core iOS and Dash Wallet.

Desktop Wallet

Desktop wallets are obviously affiliated with desktop computers, and thus can be considered less accessible than mobile wallets. But a range of security protocols can be included within desktop wallets, meaning that they are significantly more secure than their mobile cousins. Desktop wallet options for Dash include Dash Core Wallet, Exodus, Atomic Wallet, and Jaxx Liberty.

Hardware Wallet

Hardware wallets are particularly secure, as they are not prone to the software vulnerabilities featured in other platforms. Hardware wallets provide private keys in secure hardware devices, meaning that it is almost impossible to track hardware wallets or transfer any information out of them. Hardware wallets cannot be impacted by viruses or worms, while hardware wallet users can also validate the entire operation of their system.

Hardware wallets for Dash include Ledger Nano S, Trezor, and MyDashWallet.

Wallet Combinations

A couple of the above mentioned provide versions of the product across multiple platforms and these are interactive with one another, allowing for access to better security and convenience.

What Other Coins Can I Trade or Use to Buy Dash?

Bitcoin can certainly be used in order to buy Dash using an exchange, while other leading cryptos such as Ripple and Ethereum can also be utilised. There are actually several cryptocurrencies that can be exchanged for Dash, as this coin becomes increasingly popular.

What’s the Smallest and Largest Amount of Dash I Can Buy?

It is possible to purchase 0.001 units of Dash, which would cost a paltry 8 cents! The smallest unit of Dash is known as a duff and is 0.00000001 Dash. There is no theoretical upward limit on the amount of Dash that you can purchase, although miners can only own 45% of the coin, while 10% of the Dash project proceeds are reserved for system improvements.

Can I Buy Anonymously with no ID? Is it Safe and Legal?

Dash is one of the most anonymous cryptocurrencies available anywhere, and therefore you can certainly purchase it without user identification. This is entirely legal, but the authorities have certainly expressed hostility towards cryptocurrencies that use anonymity as a guiding principle.

In order to purchase Dash anonymously, it is also necessary to use the PrivateSend feature, rather than buying the token through physical exchanges. It’s also possible to make private transactions associated with Dash while retaining anonymity and privacy.

Will Buying Dash Make Me Money?

Investors ultimately want to make money with Dash. That is quite obvious! But does buying Dash make you money, and is this cryptocurrency far too vulnerable to market fluctuations currently?

It is difficult to give a blanket answer to this question, as the type and timing of investment are usually significant. What can be said is that Dash has demonstrated itself to be one of the most sophisticated cryptocurrencies, and seems to be here to stay. Many people believe that the long-term market fundamentals of Dash are extremely encouraging, meaning that there could be money to be made by holding the coin over a longer period of time.

Furthermore, numerous investors have already made money from Dash due to its rapid price appreciation during the boom of cryptocurrencies. This era now seems to be over, at least for the moment, but a steadier appreciation in value is certainly realistic.

Pros and Cons of Buying Dash

Pros

• Ease of Purchase: Dash can easily be acquired online through friends and businesses. It can also be processed through ATMs in partnership with global online banking platforms.
• Real-World Payments: Dash can be used as a means of payment in every vendor or shop with access to Dash; ticketing, paying utility bills, purchasing commodities on e-commerce platforms, and many more.
• Mobile Apps: Dash has an application for both Android and Apple devices. This ensures that transactions can be carried out anywhere and anytime.
• Security: The security of the platform against unwarranted access and cyber-crimes is impressive.
• Customer Support: The platform also has a versatile customer service department, manning social media and direct communication platforms.

Cons

• Exchange Lock Down: Currently, there is no way of buying Dash directly. You have to use eToro as a medium to purchase before either converting to available funds or blockchains. This practice makes the transaction and conversion cost high.
• Conversion: The conversion platform does not directly sell the proceeds of Dash to its customers. It sells profits derived from the sale of the cryptocurrency.

What Are the Fees Involved In Buying Dash?

As per most cryptocurrency purchases and transactions, there are fees associated with buying and selling Dash. We’ve outlined the core fee types below.

• Transaction fees: These fees are the small amount that gets deducted from the total transaction amount as a facilitator for changing the currency from one form to another. These are standard across all exchanges & blockchains.
• Deposit fees: When initially putting fiat currency into an exchange or trading platform, some will charge you for putting money in. This type of transaction fee is very rare, and can sometimes be a little untrustworthy.
• Withdrawal fees: When moving your acquired Dash into another exchange or converting it into fiat currency, most exchanges and trading platforms will charge you a fee in order to do so.
• Spreads: Spread is the very small difference between the buying price and selling price that trading brokers place onto their systems. This is essentially the transaction fee of the trading world.

It is crucial to analyse the entire fee structure of an exchange or brokerage before settling for it. Some platforms use hidden fees to make up for the low initial fees at one that you first see. Trading platforms have better payment methods and fees than exchanges, meaning it’s usually far easier to start investing in cryptocurrency on a broker platform.

3 Tips to Buy Dash

Since you have built up a fundamental concept of how crypto brokerage services and exchanges can be utilised for various investment approaches, here are three significant tips from us that will assist you in dealing with your risk in a considerably more effective manner and make your investment a lot more secure. Remember these important pointers when putting your capital into Dash.

Choose the Right Time and Do Your Own Research

To capitalise on a volatile crypto market, you have to purchase and sell Dash tokens at the right time. You can build up those financial impulses by reading all the guidance material and accessible on our site and watching out for the news related to the coin. Remember that even minor rumours can sometimes have an effect on the price of DASH or other tokens.

Comparing Costs to Buy DASH

If you neglect to deal with your transaction costs, they may eat up a major portion of your investment gains. Numerous new traders become victims of high expenses and transaction costs. Ensure that you have considered everything, including spread, commission, trade expense, store/withdrawal charges, and holding expense. These expenses tend to eat into your profits.

Safety and Security

When you are buying or trading Dash or some other digital currency, you have to know that not all things will be done for you. For example, you should guarantee the security of your coins by picking solid passwords, utilising 2FA, and strong passphrases.

What Is the Best Payment Method for Buying Dash?

• Buy Dash with Cash – First, you need to purchase Bitcoin with Cash through ATM and a while later, exchange it for DASH. Not a very viable method.
• Buy Dash with Credit/Debit Card – One of the most mainstream payment modes to buy DASH but a bit on the expensive side.
• Buy Dash with Bank Transfer – Highly convenient and economical as far as fees are concerned; however, the payment mode is slow as compared to other payment methods.
• Buy Dash with Bitcoin – Just exchange Bitcoin for Dash.
• Buy Dash with PayPal – Swift and proficient payment mode but restricted availability.

Other Ways to Acquire Dash

The methods that we have indicated above are the most advantageous and affordable approaches to buying DASH on different websites. Now, you are more than ready to start trading DASH tokens and put your investment money into different coins subsequent to reading this guide. We will finish up the guide with some lesser-known choices that you can use to get DASH.

• Peer-to-Peer (P2P) Exchanges – These are sites that bring crypto sellers and buyers together on a single platform. Rather than joining a trading platform, you can purchase from a person. That being said, you have to ensure that you have checked their reviews and also checked the trading history of the person who you are going to deal with. P2P exchanging is not only easy to understand and flexible but also very efficient too.
• Since Dash tokens are pre-mined, you can’t get them through mining.
• Staking Dash

How to Spend Your Dash

Dash is now becoming accepted by a variety of retailers as a payment medium, and this has definitely been an area of focus for its founders and creators. eGifter, Travala.com, Bitrefill, Churchs Chicken Venezuela, RE/MAX Venezuela, CheapAir.com, and NordVPN are just some of the companies that now accept Dash as a form of payment.

How to Sell Your Dash

Selling Dash is pretty easy now, with most users choosing brokers and exchange platforms, due to their being the most straightforward. Exchanges are certainly a user-friendly option, and the buying and selling of Dash, and other cryptocurrencies, are the most fundamental actions on these platforms.

However, you can also arrange private transactions for Dash, and the cryptocurrency is indeed designed to achieve this. It should also be noted that selling Dash held in a CFD is particularly convenient, as these contracts are traded on a daily basis in the financial world, and thus have attracted a degree of credibility.