By: Ofir Beigel | Last update: 1/2/21
In the past few years, Dash has become one of the most popular cryptocurrencies due to the anonymity it offers its users.
In this guide, I’ll give you a brief overview of the currency and explain the different methods you can use to buy it online and even offline.
How to buy Dash Summary
To buy Dash, do the following:
- Get a Dash Wallet (Ledger Nano X, Edge)
- Find your Dash address
- Log in to CEX.io
- Buy Dash through the brokerage service / trading platform
- Pull your Dash Coins into your wallet.
If CEX isn’t working for you, here are some other recommended options for buying Dash:
* *eToro users: 75% of retail CFD accounts lose money. Your capital is at risk. US users – CFDs are not available to US users. US users can only trade real assets (for a long time) without any leverage.
How to Buy Dash in a nutshell. For a detailed breakdown of Dash and additional purchase options, read on: I’ll cover the following:
- What is Dash?
- How to buy Dash
- frequently asked Questions
- Conclusion
1. What is Dash?
Dash is a popular open source decentralized peer-to-peer (P2P) cryptocurrency that is focused on anonymity, ease of use, and fast transactions. It’s supposed to be a real form of digital money, hence the name.
The Dash Core team consists of around 50 employees who continuously improve the protocol. Dash was deleted from the Bitcoin protocol back in 2014.
Dash promotes anonymity by enabling a feature called PrivateSend. This feature shuffles coins through computers known as master nodes to make it nearly impossible to keep track of a transaction from start to finish.
Dash also has a feature called InstantSend that allows payments to be confirmed in less than a second while avoiding the double spend problem that is common with other cryptocurrencies.
In addition, Dash is safe as transactions are verified by thousands of miners around the world. As you can see, Dash offers a number of advantages over Bitcoin in that it ensures near-instant private transactions, while Bitcoin is not completely anonymous.
Dash also manages to solve other major problems Bitcoin is facing, such as the ability to track transactions on the blockchain and slow down confirmation time.
For a more in-depth explanation of Dash, check out this excellent video from Box Mining:
2. How to buy Dash in 3 easy steps
Step 1 – Get a Dash Wallet
Before you can start buying Dash, you will need a Dash wallet. Similar to Bitcoin wallets, there are several different types of Dash wallets.
Always use a hardware wallet for large amounts of Dash. If you only “play” with the currency, a mobile or desktop wallet is sufficient.
Dash hardware wallets
Hardware wallets keep your private key (i.e. your money) offline and can hardly be hacked. However, unlike software wallets, they come with a price.
The most popular hardware wallets support Dash, so you can choose between Ledger, TREZOR and KeepKey.
Personally, I think the Ledger Nano X or the TREZOR Model T are the best there are today. You can read my Nano X review here and the Model T review here.
Dash desktop wallets
The easiest way to store and use Dash is by using a desktop wallet like the Electrum Dash wallet. This wallet doesn’t have many of the desirable features like InstantSend and PrivateSend, so it may not be the best choice for users looking for the full range of features.
Those who want to take full advantage of Dash should use the Dash Core wallet available for Mac, Linux, and Windows.
Dash mobile wallets
There are a few Dash mobile wallets for Android and iOS. Edge is the most popular choice for both platforms. Other options include the Dash Core wallet for iOS and Android, as well as Coinomi.
For a full list of compatible Dash wallets, please visit the Dash official website.
Find your Dash address
Once you have your Dash wallet, you will need to get your Dash address. A Dash address is a long sequence of numbers and letters (case sensitive) that begins with an “X”. Here is an example:
Xf9RGJcz2vRS6Pv79rYjUHrGUE7CYtJ3Xa
Step 2 – Find a Dash Exchange
Buying Dash or any other cryptocurrency, including Bitcoin, is often far more difficult than it should be for anyone new to the industry. Here are the top options for purchasing Dash using a credit card or wire transfer.
Buy Dash through eToro
eToro platforms like eToro allow you to invest and trade Dash instantly to make money on price changes. They also give you actual access to your coins, but are less easy to withdraw than other crypto exchanges.
In other words, if you want to speculate on price, this platform is for you. You can read my full eToro review here.
IMPORTANT! Using eToro, you don’t need a Dash wallet if you are just speculating on the price as you are unlikely to be withdrawing your money.
Cryptocurrencies can fluctuate greatly in prices and are not suitable for all investors. Trading in cryptocurrencies is not monitored by any EU legal framework. So keep in mind that your capital is at risk.
* *eToro users: 75% of retail CFD accounts lose money. Your capital is at risk. US users – CFDs are not available to US users. US users can only trade real assets (for a long time) without any leverage.
Buy Dash through CEX.io
CEX.io was founded in 2013 and is one of the oldest companies in the game. You can buy Dash through their brokerage services or use their trading platform.
If you are familiar with trading platforms (e.g. market orders, limit orders, etc.), it is best to use the trading platform as you will save a significant amount of fees. Otherwise, use the brokerage service (“Buy / Sell” in the navigation bar).
Deposits can be made by credit card, debit card, wire transfer or SEPA transfer. You can read my full CEX.io review here.
Buy Dash through Bitpanda
With BitPanda you can buy Dash with your credit card, your Skrill account, your SEPA transfer or your SOFORT transfer. Buying from Bitpanda requires verification, and the purchase limits are relatively low.
BitPanda is only available in Europe and currently only offers a broker service. This means that the company will sell Dash directly to you for a premium. You can read my full Bitpanda review here.
Buy Dash through Binance
Binance is a pure crypto exchange that accepts credit or debit cards for one-time purchases. It is relatively expensive to purchase through this option as it incurs fees for using methods that allow chargeback, such as a payback. B. a credit card.
If you already own Bitcoin or Ether, you can also easily exchange it for Dash. You can read my full Binance review here.
Buy Dash through Kraken
With Kraken you can top up your account with USD or EUR via bank transfer and then buy Dash directly. While this method takes longer and may require additional verification, it is likely to incur the lowest fees. You can read my full Kraken review here.
Buy Dash direct with cash
Dash ATMs – Available in three US locations: Oregon, Florida, and New York. While the fees are high, this is one of the easiest ways to get Dash.
ATMs for buying BTC and other cryptocurrencies can be found at CoinATMRadar.
Step 3 – Move the Dash Coins into your wallet
After purchasing Dash, don’t forget to put the coins in your personal wallet. Never leave coins in a purse as they can be lost or stolen.
Once the coins reach your wallet, you will officially own Dash.
3. Frequently asked questions
What’s the price of Dash?
The current price for 1 dash is $ 233.
Is Dash Mining Profitable?
Yes. Dash mining is still profitable with the right setup and hardware. It is best to use a dash mining calculator to estimate profitability based on your personal electricity bills.
What does Dash stand for?
Dash stands for digital cash.
4. Conclusion
Dash is one of the main competitors when it comes to anonymous cryptocurrencies (other alternatives are Zcash and Monero).
As one of the earlier cryptocurrencies, Dash has consistently held the top positions in terms of market capitalization. Whether or not Dash is the preferred method for anonymous transactions remains to be seen.
Have you had any experience with Dash yourself? I’d love to hear about it in the comments section below.
We hate spam as much as you do. You can unsubscribe with one click.
Comments are closed.