In a period of a few years, cryptocurrencies have managed to become an important part of the lives of many people across the US and the world. Such things as crypto exchanges, digital cash, hardware wallets, and many other words related to the crypto world entered our vocabularies.
One of the main advantages of the crypto world is the fact that you have a great variety of different cryptocurrencies to buy. From the famous Bitcoin and Ethereum to lesser-known crypto such as Dogecoin. Recently one more cryptocurrency gained a lot of popularity, I am talking about Dash, and the and main reason for its popularity is the top level of anonymity that Dash gives to the clients and which is one of the best among other cryptocurrencies.
In this short beginner’s guide, you can find information on what is Dash, how to trade and buy dash. As well as much other useful information on this crypto.
How to describe Dash
Before we jump into the discussion about how to start buying Dash and about some advanced topics like Dash trading we have to understand what is Dash and how does it work. In short, Dash can be described as peer to peer and open-source cryptocurrency which is also decentralized, and this fact is very important because the high level of decentralization allows a high level of anonymity.
Besides top-level anonymity Dash has such advantages as very high transaction speed and simplicity for users. Also, the name of the crypto Dash describes the intentions of the developers of this cryptocurrency to create a useful form of digital cash.
Dash was created in 2014 when a group of developers decided to quit the Bitcoin protocol. Now, the team of Dash developers counts more than 50 people who are constantly working on the improvement of all of the aspects of Dash.
I have already mentioned above the top level of anonymity that Dash provides, and now it is time to explain how they achieved it. The secret lies in the technology called PrivateSend, this technology, by means of mixing Dash coins through the special servers makes it very hard to trace back any transaction with Dash, because transaction three is very complicated and confusing.
Another important feature that distinguishes Dash from other cryptocurrencies is InstantSend, this software feature makes possible so-called instant confirmations. It allows you to transfer crypto significantly faster because with this feature the time of confirmation of crypto exchange transaction is reduced to less than a second. Also, this technology helps users to avoid the double-spending problem.
If security is your main concern with cryptocurrencies, with Dash you have nothing to worry about, because it has a very high level of security which is provided by a huge number of miners who are located all over the world.
In general, it is evident that Dash has many advantages over some of the more conventional cryptocurrencies, such as Bitcoin or Ethereum. Those advantages are a high level of anonymity and an astonishing speed of transaction. Both of those issues are often reported as the main problems of Bitcoin.
How to buy it
Now, when we have completed Dash 101, we can talk about how you can purchase some of this valuable cryptocurrency.
Firstly, you have to open a Dash wallet. Like with any other crypto with Dash you can find many different wallets, they are different not only because they have different service provides or a bit different software, but they also can be differentiated depending on your purpose. For example, if you are buying only small amounts of Dash mainly for entertainment purposes and you would not lose much in case if your wallet was hacked you can use a simple desktop wallet.
However, if you have become an investor and you keep a huge amount of money in Dash, you have to find a suitable hardware wallet, because it can provide a considerably higher level of protection.
Let us start with the hardware wallets that can work with Dash. The main advantage of these wallets is the fact that it is nearly impossible to hack them, due to the fact that they are keeping your assets offline. However, they have one problem, which is the price. But here it is important to remember that security always costs money.
The most convenient hardware wallets to buy Dash are
There are not many desktop wallets that are working with Dash, among those which do work with cash the best choices can be Electrum Dash wallet and Dash Core wallet. The main advantage of the Electrum is the simplicity for the users, however, it has some huge disadvantages, namely the fact that it does not support InstantSend and PrivateSend. So, opting for this wallet you will not be able to use the main advantages of Dash. At the same time, the Dash Core wallet does not have such problems, the only problem with it is the fact that it is a bit less user-friendly. Moreover, it is compatible with all main operating systems.
Also, we can say a few words about mobile wallets, they are very convenient for the people who prefer buying Dash as well as other cryptos from their mobile phones by means of a mobile app. And among all the options the Edge seems to be the best one. However, here you have to remember that in terms of security mobile wallets are at best on the same level as desktop wallets.
The Dash Address
The next step in purchasing Dash that comes after you have found a convenient wallet that can store your Dash and protect your data is getting your Dash address. This address is a very long line of different numbers and letters that has to start from X. Think about Dash Address as about a credit card number, without it you will not be able to get any coins on your wallet.
Now, when you have a Dash wallet and a Dash Address you can finally go to the market and start buying Dash. However, there are still a few things to know, because like with other popular cryptocurrencies buying dash can be an intimidating task, especially for the people who want to own Dash coins for the first time. So, in this part of the article, we will provide you with the best ideas about how and where you can trade Dash via a debit card or through a wire transfer.
The first option that comes to mind of many crypto traders is eToro (or officially eToro USA LLC). The main aim of eToro and other exchange tools that were built on this model is to allow you to buy and sell crypto including Dash almost instantly, as a result, you can effectively play and earn money on the changes in the price of Dash or any other crypto.
However, there is one huge downside, which is the very hard and long procedure of withdrawing Dash coins, compared to other platforms. So, in short, eToro is more of a trading and investment platform than a cryptocurrency exchange.
It is also important to mention that with eToro you do not even required to possess a wallet, because in most cases you would not withdraw your Dash coins.
However, you can try to work with this platform because some people eventually win on the fluctuations of the crypto market. However, you have to remember the fact that this market is highly volatile and it may also play against you, and your found would be lost. Also, remember that 75% of people who have ever played through eToro reported that they have lost money while trading crypto on this platform. In addition, there are some limitations for US users.
The next platform that allows you to purchase dash and that is worth talking about is CEX.io. This site is a broker platform that allows clients to buy Dash and other cryptocurrencies utilizing the tools of their brokerage services and trading platform.
It is entirely up to you to decide whether you want to engage in crypto exchanges through the trading platform or brokerage services. The first option can save you a lot of cash on fees, but to effectively use it, you have to know your way around trading and words like market cap, market risk, and market orders should not be something new for you. If it is not the case, use a broker platform.
CEX.io allows you to make deposits in many ways, including bank transfers through credit card or debit card, wire transfers are also available. But again, this platform, as well as eToro exists more for trading and investment than for private transactions with Dash.
Another platform that allows secure Dash trading at anytime is Bitpanda. This is also a broker platform that sells Dash directly only in case of a premium and usually, this premium has above market price. Also, it is important to mention that Bitpanda allows you to buy Dash directly, without interaction with other traders.
One of the problems with Dash purchase on this platform is the fact that you do not know the current price of Dash, because the platform instantly includes a 1,5% fee into the price. The only good news here is the fact that you will know the exact price of the whole transaction beforehand. Also, Bitpanda charges a fee in case if you deposit funds in a non-listed currency. In addition, a fee would be charged in case if you fund your account with fiat currencies.
Speaking about desirable features that buyers of different crypto want to see on the platforms we have to definitely mention low buying limits. And in this regard Bitpanda doing pretty well, especially for registered clients who are able to transfer as much as 5 million euros through SEPA bank transfers. For unregistered traders, limits are considerably lower but still compatible. Also, the good news is that crypto has no limit is deposits and withdrawals.
Probably the main disadvantage of Bitpanda is the fact that to buy Dash or any other crypto for fiat currencies can only the residents of the countries that are connected to the SEPA system, that is EU member states and a few other countries in Europe.
Nevertheless, even if you are not living in the abovementioned countries, still Bitpanda can be of great use to you because here you can exchange and store Dash using all advantages of the Dash network.
Another worth attention exchange service provider is Binance. This platform is one of the most popular on the market, and it is a very good option for newcomers to the crypto world, as well as for experienced traders. This platform provides one of the fastest ways of getting coins to your Dash wallet.
The main advantage of Binance is the fact that you can use your credit or debit card for a one-time purchase, even if you are buying crypto including Dash. It is a good option for people who do not want to give up a lot of their personal data. However, these one-time purchases have relatively high fees. In addition, the company allows wire transfer purchases.
Also, contrary to previous platforms on the list, Binance is available almost throughout the whole world, including the US.
Moreover, Binance provides a huge spectrum of different services related to the crypto exchange. For example, Binance can securely store your assets as well as makes you able to receive payments in different popular cryptocurrencies including Dash. Also, this platform is on the top level in terms of data protection and cybersecurity. So, if your main motivation for using Dash is anonymity you can safely use this platform.
Speaking of fees, Binance also has what to say, because its rates are very compatible. With an average fee of just 0,1%. Also, there are no deposit fees which is simply a piece of great news.
The only relatively big problem that was reported by users is the not-perfect system of SMS authentification, but it should be solved pretty soon. So, at the current moment, Binance can be considered as the best platform where you can buy Dash coins or exchange Dash for a currency of your choice because Binance services cover almost all popular crypto. Moreover, you can perform the abovementioned operations with your preferred method, and these methods are not limited to credit or debit card payments or to bank transfers.
Despite the fact that Binance may seem to be a perfect platform for purchasing Dash, there is one more service that we have to discuss. And this service is Kraken. This is an interesting platform because by some estimates it is considered to be the largest crypto exchange service in terms of liquidity. The main advantages of Kraken are security and customer support. Furthermore, the fee rates of Kraken can be compatible even with Binance.
The platform is available in the US and EU and can be considered as a good choice to purchase Dash for experienced traders. Newbies of the crypto investments also can buy and sell Dash there, as well as make other payments. However, they may experience some difficulties due to the fact that some features of this platform are rather complex. Also, one of the reported problems of Kraken is a long waiting time for the approval of deposits, which is a problem, especially if you want to buy Dash instantly, therefore you need faster payments
The last way which allows you to purchase dash is rather unexpected when we are talking about such complex stuff as cryptocurrencies because this way is cash. Indeed, you can buy Dash using good-old cash. Because in some locations in the US you can find specialized Dash ATMs where you can buy Dash very easily. However, this option has one problem which is high fees.
Do not forget about your Dash
After acquiring Dash on some of the abovementioned platforms you can finally proceed with the last step, which is moving Dash coins from the platform to your Dash wallet. This step is very important, and you should not forget about it, because Dash coins can be easily stolen from the platforms just like from a credit card, due to the lack of security.
Frequently asked questions
Can you buy Dash?
In short yes, pretty everyone in the US can buy Dash. It is not prohibited by the law to own any cryptocurrencies including Dash. So, if you decide to buy Dash you have nothing to fear it is entirely up to you. Also, from the technical point of view, it is not hard to buy Dash and even a person without much knowledge in cryptos can do it without any help. Also, there are no restrictions on how much Dash you can buy.
How much is to buy a Dash?
The answer to this question can be different on the day when you are reading this article. But at this moment you can buy Dash coin for the current Dash price of more than 123 euro. This may seem to be not a great deal, especially compared to Bitcoin or Ethereum, but actually, this is a pretty high price for crypto.
Can I buy Dash on Coinbase?
Yes, you can easily buy Dash with your credit or debit card on Coinbase, because Dash is one of the many cryptocurrencies that are listed on this platform. To buy Dash on Coinbase you just need to have the needed amount of cash on your debit card and a Dash wallet.