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How to Buy Dash (DASH) in 3 Simple Steps

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Author: Sam Grant Updated: January 25, 2022

Dash is an open-source cryptocurrency, which has elbowed its way into the top ten altcoins since launching in 2014. Dash was forked from the Bitcoin protocol and permits untraceable transactions.

The Dash project has been rebranded more than once, with the coin having been launched under the name Xcoin. It has also become increasingly mainstream over the last few years, having initially been linked with various darknet markets.

Dash has proved very popular, so in this article, we’re going to tell you everything that you need to know about this altcoin, including how to buy Dash, and give you the full picture of everything related to this crypto coin.

Buy Dash in 5 Simple Steps

Create an account on eToro

Sign up with our recommended partner eToro now to get started. Once you’ve signed up, verify your account by uploading some form of photo ID and proof of address.

Buy some ETH

Next, you’ll need to purchase some ETH to swap for DASH. Fund your account with your preferred payment method, then search for ETH. Select the trading pair with your local currency, and click “buy”.

Send your ETH to a Web 3.0 wallet

Next, set up a Web 3.0-compatible wallet like MetaMask or Trust Wallet—you’ll need this to swap your ETH for DASH. Paste your wallet address into the “withdraw” section of eToro, and transfer your ETH.

Connect your wallet to Uniswap

Go to Uniswap and connect your wallet. Your wallet will display a few prompts to confirm the connection, and after that, you will be able to complete your swap.

Swap ETH for DASH

Find the coin’s pair here, enter the amount you want to buy, then complete the swap. Your DASH will immediately display in your wallet.

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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 a Bitcoin 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.

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.

Frequently Asked Questions

  1. Dash was launched in 2014 and is based on work by founder Evan Duffield. The early years of Dash have been invested in delivering a speedy platform, meaning that it can be used as an alternative to existing currency methods at the point of sale in retail outlets.
  2. Dash is considered one of the most flexible cryptocurrency systems, with the tokens available for both sending and receipt by anyone in the world at any time. Transactions are also extremely fast, being secure and visible to the entire Dash network and blockchain in under 1.5 seconds. Dash payments can also be verified by both parties without any personal information being included in the transaction.
  3. Dash emphasises its use of master nodes, which make it possible for individuals on the Dash blockchain to take responsibility for private transactions, governance, and its treasury system. Master nodes receive 45% of the total reward received from mining the Dash coin. Miners also receive 45% of the total, with 10% being held back for further improvements to the network.
  4. This is decided democratically via the Dash network, with participants voting on various proposals put forward on the dash.org website. This democratised process is considered one of the advantages of the platform.
  5. Dash is based on a public address; a randomly generated combination of letters and numbers, which can be shared with anyone who wants to send payments. There is also a private key, which the Dash founders encourage people to consider as their ATM pin number for the system. Sending a Dash coin requires signing into a wallet with a private key before Dash miners confirm your transaction within the blockchain. Dash also offers Instasend, which makes it possible for the master nodes to instantly confirm transactions. Otherwise, miners will confirm the transaction in approximately two minutes. Once this process is initiated, miners will double-check results, in order to verify that the transaction is legitimate and that there are no mistakes.
  6. Because Dash uses master nodes, some critics have suggested that it is not truly decentralised. It has therefore faced competition from coins such as Monero and ZCash. Meanwhile, regulators are not always overly enamoured with the exceptional levels of privacy offered by Dash, even though this is a big plus point for many enthusiasts associated with the cryptocurrency. But regardless of these criticisms, there is no doubt that Dash is considerably more decentralised than traditional currencies. 
  7. Dash provides a platform to complete transactions without the requirement of a third-party intermediary. This actually makes Dash more secure than traditional credit cards, which can be breached while transactions are being processed. With Dash transactions having been confirmed by a network of approximately 5,000 servers hosted across the planet, the chances of any transaction being intercepted are effectively zero. So the Dash network is particularly safe and secure, but storing your Dash tokens via an appropriate wallet, and using safety and security best practices, is definitely to be recommended.
  8. All forms of money are subjected to misuse, and Dash is definitely prone to this due to its anonymous nature. This is one of the reasons that the authorities tend to be hostile towards cryptocurrencies with strong privacy undertones.  However, it should be noted that the number of criminal users across the entire Dash community is very small in number. The same would apply to traditional fiat currencies, which are obviously subjected to criminal activity but are still used widely every day.  

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