In recent years, dash (DASH) has become one of the more popular cryptocurrencies because of its anonymity for users. In this guide, I will briefly introduce you to several different ways to purchase dash (DASH).
You can buy dash (DASH) at a legitimate cryptocurrency exchange. These specialized markets allow you to buy and sell cryptocurrencies in a way similar to stock trading platforms. Dash (DASH) is a cryptocurrency designed to improve the availability of digital cash. Here’s how to buy dash.
Want more than just to buy DASH? Access dozens of different cryptocurrencies buying guides 2022 here.
What is Dash (DASH)?
Dash is an open-source protocol that originated as a hard fork from the Bitcoin blockchain. The coin gained notoriety for its unique approach to the market. Dash focuses primarily on privacy and transaction speeds. Consequently, Dash transactions are near-instantaneous and close to impossible to trace.
Dash became popular because of its amazing array of features. Most of these features were new to the market when Dash introduced them. In this way, Dash continues to be a pioneering force within the privacy coin sector. Here are the features that make Dash a coin to keep your eye on.
The Dash coin (DASH) is the native cryptocurrency of the Dash blockchain, the Bitcoin-forked, payments-focused protocol that was launched in 2014 and has spawned numerous imitators.
Created by developer Evan Duffield, who is based in Phoenix, Arizona, Dash set out to trounce Bitcoin’s sluggish 10-minute transaction times. Furthermore, its novel (for the time) two-tiered masternode infrastructure touted superior user privacy compared with Bitcoin’s one-to-one transaction system.
Since then, numerous competitors, including Monero and Zcash, have entered the fold.
Dash became highly popular as a payment alternative in Venezuela when the country’s fiat currency, the bolívar, crashed. The DASH coin also powers the point-of-sale (POS) DashApp, a US-only, in-store payment option that is becoming increasingly popular among vendors.
Read More: What is Dash (DASH)?
How Does Dash (DASH) Work?
The big difference of Dash compared to other currencies is that it maintains a two-tiered network, which allows for faster transaction processing time.
Like Bitcoin, it has a lower tier, which is comprised of the miners and main network functions – such as creating new blocks for the blockchain. However, Dash has a second tier, which it calls “Masternodes”, which allow it to perform it’s InstantSend and PrivateSend functions. The Masternodes also serve as a level of governance for the Dash network.
According to the official Dash network website, the goal of the alt-coin is to provide the crypto community with the most user-friendly and coin ever. The Dash network prides itself in privacy and fast transaction speeds with scalable payment-focused crypto instant transaction confirmation, double-spend setback protection, and a self-funding and self-governing system of incentivized Masternodes.
The Masternodes are the network’s core that helps Dash to achieve its goal. They are servers with collateral backing held in Dash and designed to securely provide the network with advanced services and govern its proposal system. In addition, they offer an extra layer of security to the network by facilitating the functions of PrivateSend, InstaSend, and ChainLocks and, in return, receive part of the block rewards. These features set Dash coin apart and give it an edge over other crypto coins regarding security, transaction privacy, and speed.
It has a unique self-funding and self-governed development protocol that ensures the Dash network can finance its continued growth and adoption. 10% of the Dash mining rewards go back to the Dash network to finance its growth and development. The usage of these funds is decided upon by everyone in the Dash cryptocurrency community, whereby everyone gets an opportunity to give their opinion on various proposals.
- PrivateSend
Dash coin users enjoy the privacy that comes with the network’s PrivateSend feature. Whether your transaction is legal or not, the details remain private. As a result, it’s not possible to trace back the transaction or the parties’ identity.
- InstaSend
The Masternodes network on Dash provides this unique service that allows Dash coin users to complete transactions almost instantly. InstaSend is, however, a service for which users have to pay a nominal fee. Individuals can still transact without the InstaSend service, but this will take about 2.5 minutes on average.
- ChainLocks
As a network running under the proof of work consensus algorithm, the Dash blockchain risks a 51% attack. The 51% attack occurs when a miner or group of miners with bad intentions control more than 50% of the network computing power. However, the Dash network protects against these attacks by integrating the ChainLocks feature based on the Long Term Masternode Quorums (LLMQs) and the Dash Masternodes network. The feature mitigates against the risk of 51% attack and also boosts transaction speeds significantly by reducing confirmation times.
Read More:
How to Make Money with Dash (DASH)?
Why Buy Dash (DASH)?
Like any currency, there is a high degree of risk involved if you’re considering investing in Dash. However, given the low price point, it does have the possibility for a high return with low barrier to entry.
If you don’t like the idea of a digital wallet and/or all of these steps, there are no ETFs that track Dash yet.
There are different reasons why a person may want to Dash coins. For example, you may want to future-proof your kids’ finances, look at it as your retirement plan, or want to make some quick cash from day trading. In any case, you will go through the same buying process and have the exact requirements. So here is all you need to buy your first Dash coins.
- A trader account with an exchange or brokerage that supports Dash: Decide if you want to trade actual Dash coins or derivatives. Then, find a reputable crypto exchange that supports the trading method you prefer and create an account. Platforms like eToro support both actual trades and CFDs.
- Investment capital: Your investment capital is the money you want to commit to buying Dash. If you are going to trade in CFDs, you only need a small amount to use in leverage. If you plan to buy the actual coin, the amount will depend on the number of coins. Dash is divisible, so you can still buy fractions.
- Dash wallet: Crypto coins stay in wallets, so you need to create one. Ensure your preferred wallet supports Dash coin and that it can guarantee safe storage. Offline wallets are more secure as they face the risk of hacking. However, if you plan to use your coins often, a hot wallet would be preferable.
How to Buy Dash (DASH) in 4 Simple Steps
- Step 1: Decide where to buy Dash (DASH).
- Step 2: Think about how to store your Dash (DASH).
- Step 3: Make your purchase.
- Step 4: Manage your investment.
How to Buy Dash (DASH) on a Crypto Exchange
1. Coinbase
- Step 1. Create a Coinbase account
Download the Coinbase app and start the sign up process. You will need a valid ID and may be asked for proof of address in order to transact, so be sure to have those ready. Verifying your ID may take longer than a few minutes, depending on where you live.
- Step 2. Add a payment method
Tap on the payment method box and connect a payment method. You can use a bank account, debit card or initiate a wire.
- Step 3. Start a trade
Press button then select “Buy” from the list of options.
- Step 4. Select Dash (DASH) from the list of assets
Search for Dash (DASH) by typing “Dash (DASH)” into the search bar. When you see Dash (DASH) show up in the results, tap it to open up the purchase screen.
- Step 5. Enter the amount you want to buy
Use the number pad to input the amount you want to spend in your local currency. The app will automatically convert that into a Dash (DASH) amount.
- Step 6. Finalize your purchase
Tap “Preview buy” when ready. You’ll be shown the details of your purchase. Make sure everything looks good and then confirm your purchase. That’s it, you’ve bought Dash (DASH).
2. eToro
- Step 1: Find a crypto exchange or trading platform that offers Dash (DASH)
There are a number of exchanges that will let you trade your funds for Dash (DASH). One of them is the eToro trading platform.
- Step 2: Sign up
If you’d like to buy Dash (DASH) through eToro, all you need to do is sign up, verify your account and make a deposit. From there, you’ll be able to buy and sell Dash (DASH) easily.
- Step 3: Buy Dash (DASH)
Dash (DASH) can be purchased fractionally, so you don’t need to buy a full Dash (DASH) to own some. For example, if Dash (DASH)’s price is $10,000, you can purchase 0.1 Dash (DASH) for $1,000.
3. Bitfinex
- Step 1. Log in to your account or sign up to Bitfinex.
- Step 2. Go to Deposit, choose Payment Cards.
- Step 3. Select the payment processors.
- Step 4. Choose the crypto and enter the amount.
- Step 5. Select the destination wallet and proceed payment
4. Binance
- Step 1: Create your Binance Account
Sign up with your email address or mobile phone number, and choose a strong password. Or, download the Binance crypto trading app from the App Store or Google Play store and open an account there.
- Step 2: Start Buying Dash (DASH)
There are two main ways to buy Dash (DASH) on Binance using cash: you can link your debit/credit card or bank account, or buy crypto directly from other users on Binance P2P.
Linking your debit card, credit card, or bank account (available in many regions) is one of the easiest ways to buy Dash (DASH). Through this method, you can buy Dash (DASH) for a minimum. (This amount varies depending on the currency you use.)
Buy Dash (DASH) directly from other Binance users with your local fiat currency via Binance P2P. Browse a variety of Dash (DASH) listings to shop the best offers on Dash (DASH) from other users. With thousands of merchants and hundreds of payment methods available, Binance P2P caters to many regions in the world right now.
5. KuCoin
- Step 1. Sign Up for KuCoin Account
- Step 2. Secure Your KuCoin Account
- Step 3. Verify Your Identity
- Step 4. Connect Your Account to Funds Fund Your Account
- Step 5. Start Trading on KuCoin
How to Buy Dash (DASH) With PayPal
- Step 1. Login to Paypal and Select Cryptocurrency
In Paypal website, you should see the option for cryptocurrency in the top right of the dashboard, next to ‘Send’ and ‘Request’.
- Step 2. Select ‘Dash (DASH)’
Or choose any of the other coins listed.
- Step 3. Select ‘Buy’
- Step 4. Choose How Much You Want to Buy
Enter an amount of dollars you want to spend on Dash (DASH) or choose a pre-set amount below.
- Step 5. Select Payment Method
You likely already have you bank account linked to you Paypal account, but you can also hook up another method if you don’t want to use your bank account.
- Step 6. Hit the ‘Buy’ button
After finalizing your purchase, you will be taken to a confirmation screen and you should see your coins reflected in your Paypal account dashboard.
How to Buy Dash (DASH) With a Credit Card
Not all platforms will allow you to use a credit card to make your cryptocurrency purchases. If you do choose a platform allowing such transactions, keep in mind that there may be extra fees associated with the purchase. Many credit card companies process cryptocurrency purchases via credit card as cash advances, which can incur high interest rates, among other fees.
Some credit card companies allowing cardholders to make crypto purchases treat the purchases as a cash advance (cash advances usually involve a cardholder using a credit card to withdraw money from an ATM). This has several critical disadvantages.
- Cash Advance Fees: Some cards treat a cryptocurrency purchase as a cash advance. This means each crypto purchase is subject to a cash advance fee. A typical fee of either $10 or 5% (whichever is greater) would be charged. These fees are in addition to fees charged by the vendor or exchange.
- Cash Advance Interest Rates: Most cards have a higher Annual Percentage Rate (APR) for cash advances—often over 25%. This is a variable interest that changes with the market. Interest will start to accrue on the day the purchase is made and will continue to accrue until the credit is paid off. By comparison, cardholders have up to 25 days to pay off a regular credit card charge before accruing any interest.
- No Credit Toward Rewards orBonuses: Credit used to purchase crypto (and thus make a cash advance) typically doesn’t qualify for any purchase rewards nor toward spending that would normally apply to a welcome bonus.
- Lower Credit Limits: Cash advances often have a lower credit limit than the cardholder’s overall credit limit that applies to the card itself. Cardholders hoping to make big crypto buys may find themselves limited by the cash advance terms and limitations.
Read More: How to Sell Dash (DASH)?
Buying Dash (DASH) FAQs
What is a Dash (DASH) Wallet?
Dash is a semi-private cryptocurrency built on the basis of the Bitcoin and Litecoin code bases. It debuted in 2014, with a focus on solving three main weaknesses on the Bitcoin blockchain, governance, privacy and transaction speeds. Since its inception, it has consistently remained in the top 20 cryptocurrencies category by market capitalization.
Best Dash Wallet Providers:
- eToro
- Binance
- Exodus
- Infinito Wallet
- Guarda Wallet
Can You Sell Dash (DASH)?
If you already own DASH and hold it on an exchange wallet, you can easily sell DASH coins by navigating the interface and choosing your desired payment option.
First remember, depending on when you made your purchase, you may be selling DASH at a profit (or loss). So, ensure you take steps to assess the impact it could have on your finances.
Read More: How to Sell Dash (DASH)?
What is a Dash (DASH) Address?
Your Dash Core Wallet is associated with a number of unique addresses that can be used to send and receive Dash. Each address holds its own balance, and the sum of all your balances is what appears on the Overview tab. When you send Dash, your wallet will automatically transfer funds from as many of your addresses as necessary to the destination address, which is controlled by another Dash user and associated with their wallet. You can control which addresses you use using the Coin Control feature.
When you confirm a transaction, Dash Core will enter the transaction in a block, which will then be added to the blockchain for other clients to confirm. A transaction is generally considered confirmed once six blocks have been added after the block containing your transaction, although masternode and mining payments are only released after 101 blocks. Note that a different process is used for InstantSend and CoinJoin transactions.
Dash addresses are 34 characters long and begin with an uppercase X.
How to Accept Dash (DASH) Payments?
Dash payment is a method of paying for goods or services provided by using DASH. The Dash cryptocurrency was created like many other altcoins in order to improve the characteristics of Bitcoin. Dash is one of the most successful cryptocurrencies due to its properties: lightning fast and anonymous payments.
A successful merchant knows like no other how important it is to meet the needs of the customers. Thanks to Dash payments, you can have your cake and eat it too: transactions in the Dash network meet the requirements of both customers, who need safety, and merchants, who need fast payments. The key points are that transactions in the Dash network are very secure and cheap.
- First, you need to sign up for a NOWPayments account. The process shouldn’t take more than a minute!
- Go to Store settings. Add your Dash wallet and create a new API key.
- Choose the tool to add to your checkout.
- The integration will be active on your website, and you’re ready to accept payments in Dash!
