How to Buy Dent (DENT) in 3 Simple Steps

5 Things to Consider if you Want to Buy Dent

There are some important considerations you’ll need to keep in mind before you go ahead and buy Dent. It is important that you pay close attention to each one of them so that you’re well-informed when you visit an online portal to make your Dent purchase. We shall discuss these factors below.

1. Carefully choose your preferred secure payment method

It’s no news that different countries have different laws when it comes to the payment options offered in their jurisdictions. In case you’re presented with multiple payment options on a crypto platform, you must go with the one which offers you maximum convenience, the least cost, and no potential legal hassle.

2. Will you need to set up your own wallet?

If you wish to buy DENT and hold onto your coins, with a longer investment horizon, you will require a safe and dedicated wallet to store your coins. Leaving them on a wallet provided by the exchange can be suicidal as there have been major exchange hacks in the past. The cryptocurrency wallets available in the market will vary based on the level of accessibility and security they offer. However, if you choose to invest in Dent using CFDs through a recommended broker platform, there will be no need of setting up a wallet, as no actual Dent exchange will occur.

3. Comparing costs

Please keep in mind that as Dent is an Ethereum-based ERC-20 token, it will attract a certain Ethereum blockchain processing fee, referred to as Gas, whenever you buy or sell DENT coins. The constantly rising Gas fee for Ethereum transactions has made it impractical to buy small amounts of Dent. In this regard, it may make more sense to use derivatives like CFDs to invest in this cryptocurrency and capitalise on its price movements, as with these, you do not need to transact with actual DENT tokens.

4. Safety and security

Dent, being an Ethereum-based cryptocurrency, uses a Proof-of-Stake (PoS) consensus mechanism for validating its blockchain transactions and securing its network. Amongst the several advantages offered by PoS mechanism, the most prominent ones include reduced power consumption, increased stability, and purportedly higher security. Apart from that, DENT transactions are further secured by the implementation of popular cryptographic security protocols including MetaTrader 5 (MT5), MetaTrader 4 (MT4), and 2-Factor Authentication (2FA) on all the reputed exchange and broker platforms.

5. Can you understand and navigate the platform?

Prior to actually using an online platform to buy Dent, ensure that you familiarise yourself with it well. Making even a tiny mistake, such as adding an extra zero, can cause you a lot of headaches later. If possible, steer clear of any platform which seems too complicated to use. Broker websites have very easy-to-use interfaces and are preferred by both new and seasoned crypto investors.

What is the Best Payment Method for Buying Dent?

Your choice of payment method for buying Dent will depend entirely on your comfort level with different payment modes. Additionally, the options may also vary from country to country. Let’s acquaint you with some of the most commonly discussed payment options for the purchase of Dent.

Buying Dent with Credit/Debit cards Credit and debit cards, being very convenient to use, are the preferred payment mode for a large number of new crypto investors. They are also offered by the most popular broker platforms and cryptocurrency exchanges. But their convenience has a cost attached to it. Credit and debit card transactions involve transaction fees, which make them impractical for frequent or large crypto purchases.

Buying Dent via Bank Transfer Bank transfer continues to be the most commonly opted-for method to purchase cryptocurrencies online. Be that as it may, payments made this way can take more time than credit/debit cards, due to a bank’s involvement. But where this payment mode scores over others is its low fees. Some of the well-known brokerage platforms accept many different fiat currencies via bank transfer.

Buying Dent with PayPal Used by millions of cryptocurrency investors throughout the world, PayPal is also considered one of the most convenient modes of payment today. Please be aware, not many crypto exchanges accept PayPal as a valid payment method. On the other hand, brokers are more receptive to PayPal, with many regulated platforms accepting it without any hassles. In terms of fees, while PayPal isn’t the cheapest, it’s also not the most expensive in the market.

Buying Dent with Cash While many people would prefer to buy Dent with cash, as it would involve no fee at all, it’s almost impossible to do so. The only way you can acquire Dent this way is by entering into a private transaction with someone you trust and know, which isn’t very easy at all.

What Fees are Involved in Buying Dent?

Buying smaller quantities of Dent independently from someone can prove to be a rather impractical activity, as you may need to shell out a significant sum for the blockchain transaction fee. DENT is an ERC-20 token and you’ll need to pay Gas (in ETH), for processing any such transaction. This fee can be reduced significantly by purchasing DENT from a reputed cryptocurrency exchange or broker. Though they will charge their own fee, it will most likely be a lot less than what you may need to pay otherwise. Let’s acquaint you with some other fees commonly associated with DENT purchases.

Transaction fees As explained above, you will need to pay some transaction fees for the processing of DENT transactions on the Ethereum blockchain. However, when you choose to buy from an exchange or broker platform, you can reduce this fee considerably.

Deposit fees Although the majority of brokers avoid collecting any deposit fee from the traders, thereby encouraging more people to sign up with them, some platforms may request a nominal percentage as a fee, at the time of deposits. It’s usually small compared to what is charged by crypto exchanges. Furthermore, the deposit fee may also vary depending upon the payment method.

Withdrawal fees The withdrawal fees charged by the brokers is usually lower than conventional crypto exchanges. It is normally applied regardless of whether you make withdrawals in the form of cryptocurrency or fiat currency. To give you an idea, while exchanges may charge as much as 5% as a withdrawal fee, brokers usually keep it in the range of 0% to 3%.

Safely Storing Your Dent

It’s important that you opt for a compatible wallet to safely store your DENT coins. Doing so will enable you to securely hold on to your investment for as long as you want, or have your coins readily available as and when you need. This reduces your exposure to the risks associated with bad actors.

Web Wallet Web wallets are normally integrated into the crypto exchange and brokerage platforms. They offer a convenient means of storing DENT coins, but can’t be considered the safest option in the market. It’s also important to note that there have been some cases of exchange owners vanishing with traders’ funds or exchanges shutting down completely. Though web wallets are easily accessible, there are more secure options out there.

Mobile Wallet Meant to be used on mobile devices, mobile wallets have become increasingly popular over the years. Trading cryptocurrencies through mobile wallets is commonplace today. Additionally, though these wallets offer superior security, being constantly connected to the Internet, makes them prone to hacking attempts. That’s also the reason why these are called ‘Hot Wallets’. Exodus and Coinomi are a couple of well-known mobile wallets to store DENT.

Desktop Wallet As evident from its name, a Desktop wallet is a software program used in a desktop environment, on a desktop or laptop computer. Desktop wallets are not as convenient as their mobile counterparts, but provide a higher level of security, with certain security protocols and enhancements like Two-Factor Authentication (2FA) built inside them. Some of the commonly-used desktop wallets for storing DENT coins include Atomic and Exodus.

Hardware Wallet Out of all the different wallet types available for DENT in the market, hardware wallets can be considered the most secure. These wallets are normally the size of a USB flash drive and hence are extremely portable. The fact that they stay disconnected from the Internet unless you choose to connect them and access your funds, gives them the nickname “cold wallets”. Trezor is a popular hardware wallet preferred by many DENT buyers.

Wallet CombinationsWhen it comes to cryptocurrency storage, it’s never a good idea to put all your eggs in one basket. Hence, you should opt for at least two different wallets, and spread your DENT holdings among them. What’s more, some wallets can also be linked with each other, facilitating easy movement of funds between them. So, perhaps you could go with a Trezor hardware wallet to store a part of your DENT holding for the long-term and a mobile wallet like Coinomi to keep some DENT coins handy for whenever you may need them.

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

Cryptocurrency exchanges normally use the term ‘Trading Pair’ to refer to different cryptocurrency combinations, which can be easily traded with each other. For instance, you can easily buy Dent with Tether or Ethereum on many such platforms. They will be listed as DENT-USDT and DENT-ETH pairs respectively. All you need to do is deposit the corresponding amount of USDT or ETH to your account and then execute a trade against DENT, to acquire the latter.

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

It’s normal to see new traders asking what the minimum purchase for DENT is, or if there is any DENT buy limit imposed by the exchanges and brokerage platforms. The least and most amount of DENT you may be allowed to purchase will depend completely on the cryptocurrency platform under consideration.

It’s important to note that the DENT price is presently hovering around $0.008, meaning that it is impractical, if not impossible, to buy less than one DENT token.

As can be seen, considering its value, it may practically not make much sense to buy small amounts of DENT. Furthermore, there may be restrictions imposed by government, exchange or tax laws on the maximum permissible purchase of cryptocurrencies, in your state/country. You’ll need to check with your local crypto regulator regarding this.

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

For people asking if they can buy DENT anonymously, or if it is possible to buy DENT without ID, please note, though you may be able to buy DENT with no verification at all on some unregulated platforms, it’s not the safest thing to do. On the other hand, if you wish to buy DENT safely and would like to make a purchase with some of the strongest security protocols, you should transact only on a regulated exchange or broker platform. These will indeed ask you to upload government-issued identity documents to facilitate any such purchase, in order to ward off criminal actors.

Will Buying Dent Make Me Money?

If someone tries to sell you a ‘Buy Dent, Get Rich’ scheme, or tells you with 100% surety that you will indeed make money from DENT, this person may not be showing you the complete picture. Anyone who is buying DENT should be well aware that this cryptocurrency, like all others, is vulnerable to the huge price fluctuations often witnessed in this space.

If you have the patience to stay invested for the long term or have the skills and knowledge to make the most of short-term fluctuations, you can definitely be in with a chance to make some money with this cryptocurrency.

The all-time high of Dent was $0.1114, recorded in January 2018, and the lowest price was $0.00007 in March 2020. It has recovered considerably over the last year, reaching $0.008 right now (May 2021). If you’d like to learn how much it costs to buy DENT today, you should check out our DENT Price page for more information.

How to Spend your Dent

Dent is quite unlike other popular cryptocurrencies such as Litecoin and Bitcoin, which are used mostly for online and offline payments. Therefore, it is unlikely that you will find merchants accepting Dent in exchange for goods and services. Its primary use is in the form of a utility token on the Dent Wireless App, through which you can trade mobile data, voice minutes, and do a lot more to enjoy a global roaming-free experience.

How to Sell your Dent

If you’d like to sell your DENT coins, the process will depend a lot on the method you chose to buy them in the first place. In case you bought them from a crypto exchange and then stored them in a cryptocurrency wallet, you’ll first need to transfer the coins back to the exchange, and possibly pay a fee for that too. Thereafter, you can simply place a sell order on the platform and wait for a buyer to respond. Please be aware, any DENT coins deposited into the Dent Wireless app cannot be withdrawn or sold. They can only be used for in-app purchases and sales.

In case you didn’t buy the actual DENT coins but bought DENT CFDs on a regulated broker platform instead, you’d have a simpler process ahead of you. All you’ll need to do is close your CFD trade and reap the profits accordingly.