How to Buy Dent - Where to Purchase DENT?
Dent is a pioneering cryptocurrency from Hong Kong-based Dent Wireless Ltd., which aims to use blockchain technology to create a global marketplace for mobile voice minutes and data through its native DENT coin. Dent was launched in 2017, and has a presence in over 140 countries, claiming 25 million active users across the world.
Dent was trading at a price of $0.008 per coin at the time of writing this guide (May 2021), with a total market cap of around $765 million. Considering its solid fundamentals and development, DENT could be an investment opportunity for crypto traders. If you want to learn how to buy Dent, we’ve created this piece to serve as a comprehensive guide for you.
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Why Trade rather than Buy Dent for Cheap and Fast Returns?
You Don’t Need a Wallet:
You trade on the price movement of the coin without having to buy and store it.
You Can Use Standard Payment Methods:
All regulated brokers accept popular methods of payment such as credit/debit card and bank transfers.
Trades Are Fast and Withdrawals Are Easy:
Trades are executed within seconds and withdrawals will reflect instantly in your account.
What is the Easiest Way and Best Way to Buy? Compare the Top Dent Brokers
When it comes to the best place to buy DENT, it would depend entirely on your experience in the crypto trading industry. People starting out in this space and wondering where to buy DENT can find this activity a little intimidating in the beginning, moreso if they head to an online exchange right away. Cryptocurrency exchanges can be slightly complex for the starting-out investors.
On the other hand, broker platforms are less complicated and provide an easy and dynamic means for investing in DENT coins. They’re counted amongst the best places to buy DENT online. Brokerage websites have simpler user-interfaces and offer financial derivatives such as Futures, Options and CFDs (Contracts for Difference) too. Therefore, you can either buy or sell Dent ownership through them or simply bet on Dent’s market price movements, without owning any coins at all.
It is highly recommended that when you’re researching the best platform to buy DENT, you should compare the top DENT brokers based on multiple parameters including their regulatory status, customer service, fees, value-added services, and security measures before signing up with any.
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 any 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 headache 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.
Ultimate Beginner’s Guide to Trading Dent
What is a Dent Broker?
Unlike cryptocurrency exchanges, where people directly engage in trading activity with each other, a broker platform functions as an intermediary between the buyers and the crypto market.
These brokers give you easy access to multiple cryptocurrencies, including Dent. Apart from allowing you to buy and sell actual ownership of Dent, they also enable you to engage in speculative trading through derivatives like CFDs. The latter doesn’t involve any exchange of DENT coins and you simply bet on the future price movements of the Dent cryptocurrency.
What is a Dent CFD?
An acronym for ‘Contract for Difference’, a CFD is a financial derivative product which allows you to bet on the future price movements of the underlying cryptocurrency, without the need for any actual transfer of the crypto coins. CFDs can often be combined with leverage to maximise profits. Leverage involves borrowing capital from the broker to increase the size of your position. Be careful, however, as your losses will be magnified in the same manner as your profits.
What is the Benefit of Dent Regulation?
Even though regulated Dent broker platforms may ask you to comply with some strict KYC (Know Your Customer) procedures, involving the upload of government-issued IDs, please remember this is all for the security of traders only. Cryptocurrencies, being a fairly new type of digital payment, require such regulation to improve the investors’ confidence. Therefore, it is always better to go with a regulated platform, licensed by a well-known global authority.
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 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.
The Verification Process for Trading Dent
Any regulated platform that you choose to buy or trade Dent, you’ll be asked to submit certain government-issued documents to verify your identity. This is done as a part of global Anti-Money Laundering (AML) and Countering of Terrorism Financing (CTF) measures. The idea is to protect traders’ interests and keep bad actors at bay. Some providers may also ask you to upload a proof of address, such as a utility bill, as well.
Dent: Long vs Short Term Investment
Dent can be considered a good potential option for both long and short term investors. Anyone using it for short-term investment or trading purposes is advised to learn about some analytical tools and gain a little experience before going all in. Brokers serve as ideal platforms for short-term Dent trading as they enable both the purchase and sale of Dent as well as indirect investments through derivatives like Options, Futures and CFDs.
For Dent buyers with a longer investment horizon, they must buy Dent from a regulated broker or exchange platform, and then hold onto their coins in a safe cold wallet. This is a pretty simple approach and doesn’t require any trading knowledge or experience. It can pay off if you learn to stay patient through the crypto market upheavals, witnessed from time to time.
Why Buy Dent rather than Trade?
We discussed multiple ways to buy DENT; now let’s ponder why buying Dent, rather than trading it, may make more sense for some people.
People who choose to buy DENT mostly do so with a long-term perspective, hoping to benefit from its price discovery. Such investors do their due diligence and buy DENT instantly from the first reliable source they get.
DENT traders, on the other hand, having witnessed the high volatility of the crypto market time and again, are usually experienced in making the most of short-term trading activity.
Though buying and holding DENT can prove to be a very profitable approach in the longer run, short-term trading also has its incentives for anyone who knows what they’re doing. Please note, for the former, you’ll need to find a reliable platform to buy DENT cheaply first, and then look out for a secure wallet to store your coins.
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 of 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 fee 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 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.
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Frequently Asked Questions
Dent was co-founded by Tero Katajainen, a Hong Kong-based software engineer, with Mikko Linnamaki, a Finnish web entrepreneur and Internet software pioneer.
The all-time high price of DENT was $0.1114 on January 9, 2018, and its all-time low price was $0.00007 on March 13, 2020.
The company is planning to intensify its distribution and marketing efforts while incorporating new features in the DENT exchange and their other platforms.
Dent has managed some solid partnerships with some of the leading entities in its industry, including Samsung Blockchain, G+D Mobile Security, Bunq, Telecom Infra Project (TIP), GSMA, Enterprise Ethereum Alliance, and Mobile Ecosystem Forum (MEF).
At the time of writing this guide, Dent claimed to have a presence in over 140 countries and had over 25 million mobile device users.
Dent, being an Ethereum based ERC-20 token, is secured by Proof-of-Stake (PoS) consensus mechanism. It relies on big stakeholders which serve as nodes and transaction validators.
Yes, it would be correct to state that regulated DENT brokers provide higher security than crypto exchanges. Regulatory compliance makes sure that such brokerage platforms do everything possible to secure traders’ interests and that no one vanishes with their funds.