How to Buy Dash and Where to Buy
Here are some things you will want to consider before you buy Dash. Dash is in the top 100 cryptocurrencies by market cap. That is to say it is a fairly popular cryptocurrency. It is also supported by a number of platforms.
Since Dash is still quite popular you have some options available from where to buy Dash. The best place to buy Dash is from a cryptocurrency exchange. This is because you can access exchanges online. Moreover crypto exchanges are the easiest platforms to start off with.
Best Exchanges to Buy Dash
The exchanges we recommend are regulated exchanges that cater to customers worldwide. They have to comply to international legal laws because they are classed as money services. In other words because they handle money they need to make sure they are not helping money launderers.
Most importantly for you; they are regulated to better serve their customers. They have a global reputation to maintain and want to make sure they are in line with authorities.
Crypto exchanges are perfect because they are incredibly easy to use. Especially when it comes to the final step when you buy Dash. The interface is pretty self-explanatory. Here for example is one of the exchange areas:
Here you have to pick the cryptocurrency you want to buy and how much.
Cryptocurrency exchanges support different payment methods. Regulated exchanges will always support the basic payment methods; credit cards and bank transfers.
However some exchanges also support some other payment methods. You should know that the fees to exchange and fees for depositing and withdrawing are separate. The exchange fee will always remain the same. However not all payment methods have the same fee charge.
In fact you should check beforehand which payment method is the best for you at the time. Sometimes some payment methods have flat fees and others have a percentage rate fee. The amount of Dash you want to buy might dictate the particular payment method you use.
However most of the time bank transfer is usually the cheapest payment method. Especially when it comes to depositing.
Before you get to buy Dash there are several steps you need to do beforehand. You need to set up an account properly with an exchange. For those that would like some instructions here is how to go about it:
How to Buy Dash From an Exchange
If you need some guidance on how to buy Dash we have put together a guide. This guide is called how to buy cryptocurrency. Although it is a general guide that you can use for any cryptocurrency, the process is the same for Dash.
The guide is for beginners or those that need a refresh on the process. It is designed to walk you through the process in a simplified way to ensure you understand it.
As a result the process is segmented and broken down into 6 steps. You will need to:
- Choose an exchange
- Sign up
- Verify your account
- Wait for approval
- Buy Dash
The guide also has all the resources you will need to ensure you are able to follow. That also includes image screen shots to help you out. Additionally you will find some tips and recommendations with context on why things are done in a certain way.
As a result you will need to supply some documents to verify your account. The whole process should take around 15 minutes. This is because exchanges have automated most of the process. However it could take longer especially if you want to have higher account limits.
Exchanges might have a 2-factor authentication set up in the process. However if it doesn’t you should seek to set it up yourself. Like that you can make sure your account is properly secured.
Other Places Where to Buy Dash
There are some other places where you can buy Dash. Like anything else these different places have their pros and cons. At times they are not as convenient or more complicated than using a crypto exchange. However sometimes they are better for saving money on fees.
Trading platforms are also another alternative for where you can buy Dash. Similarly to exchanges they are online and convenient to sign up to.
As you probably guessed; trading platforms are for trading. So if you want to buy Dash to trade on the go they are a great solution. Additionally you can save money on fees when you use a trading platforms.
On the other hand trading platforms are more complex and less easy to figure out. That is why exchanges are usually the better option. Exchanges are the natural choice for beginners because they are user friendly.
There are a number of recommended trading platforms you can use. Like the exchanges these trading platforms are regulated.
Moreover you should know that some exchange also have a trading area. So they have a standard exchange area with the easy interface and the more complex trading area.
Coinmama is the only one on our list that does not have a trading area. You also can benefit from lower fees even on these exchange trading areas. Or trade on the go.
Exchanges or trading platforms are the most convenient way to buy Dash. However another option you have is to use a cryptocurrency ATM.
Unfortunately there are not that may ATM machines around. Most Dash ATMs are in the US and some are in Europe. Some countries or areas are more crypto friendly. As a result you will find a cluster of more ATMs where you can buy Dash. Like for example in Vienna, Austria or New Jersey in the US.
You can have a look at this map powered by Coin ATM Radar. It always has updated information on the locations of ATMs where you can buy Dash. Most of the time you will have to travel to get to a crypto ATM machine that has Dash.
Moreover it is good to know that crypto ATM machines can be expensive. The fee you would pay would depend on the brand of machine. According to Coin ATM Radar the average ATM fee is 8.4%, but you could be dealt a 25% fee.
ATM companies are not upfront with their fees and it causes clients to distrust the system after the fact. Most ATMs charge around 10-15%. However you do not want to end up in the camp that get charged that amount of more.
For this reason we recommend you look for CoinFlip crypto ATMs. They charge a 6.99% fee plus a network mining fee. The mining fee is usually around $1, but it can fluctuate depending on the demand on the network.
This fee for CoinFlip ATMs is comparable to online exchanges fees. However crypto exchanges can have even lower fees depending on the payment method you use. This will be covered in the ‘how to save money’ section further down this page.
How to Save Money
Exchanges can be expensive to buy Dash or any other crypto. However in comparison to crypto ATMs they are still less expensive.
Moreover you can still save money depending on the payment method you use. If you want to save on exchange fees, then the best solution is usually bank transfer.
Bank transfers are less instant. However with deposits they could save you up to around 2% on fees. Usually bank transfers have no fees when you go to deposit into an exchange.
However bank transfers do take time to happen. This is because it partly depends on the country your bank is located. The first bank transfer always takes around 3-5 days regardless, but successive transfers may be instant. Other countries will still take 3-5days to process first and successive transactions.
On the other hand if you use a trading platform, the fees go down substantially in some cases. So trading platforms are a good alternative to buy Dash. The maker and taker fees are a lot lower than exchanges. However as mentioned they usually are a lot less user friendly.
One tip is to use the simple maker and taker areas of trading platforms. Some areas are less complicated than others. However it would depend on the trading platform you are using.
How to Securely Store Your Dash
If you are not going to actively trade your Dash you should consider moving it off the exchange. In other words to securely store it.
Exchanges and trading platforms are prone to getting hacked. In fact there are many exchanges that have gotten hacked since the start of crypto. It is quite appealing for hackers because a lot of the time they steal a lot of crypto funds. A lot of the time the exchanges cannot get the funds back.
The exchanges take precautions with security. Some like Coinbase even have insurance to cover client funds just in case. However sometimes hacks still happen like what happened to Coinbase in 2021.
As a result you want to make sure your Dash is safe. To have the highest security protection for your crypto you should consider getting a hardware wallet. They have no recorded security breaches. Additionally there are different models at different prices that you could consider.
Do Not Use Leverage
We would like to give you one word of advice if you opt for a trading platform. You should make sure you do not buy Dash or any other crypto with leverage. Especially so if you are a beginner. Leverage is also known as margin trading. It can be a dangerous tool if it is in the wrong hands.
Leverage might seem nice when it increases your profits and your crypto goes up. However it makes you lose multiples more when the price goes down. You do not want to end up owing more than you can afford to lose. Which believe it or not is what can happen with leverage.
There are ways you can set up protective measures to use leverage which is called stop loss. However these are more advanced technical tools. So as mentioned if you are new to trading platforms it is best to stay away from them.
What You Should Know Before You Buy Dash
The Developers that built Dash made it so that it was lightning fast. As a result it is able to execute transactions within seconds. However the drawback is that they traded off security to achieve this.
Although Dash is marketed as a privacy coin it uses a method of privacy called CoinJoin. CoinJoin tries to hide the parties involved in transactions, but it does not do this successfully. Third parties can still run their analytics tools and figure out what is happening on Dash’s blockchain. As a result CoinJoin is anything but private.
So if you are looking to get privacy coins, Dash is not one of them. Consequently you may not want to buy Dash and opt to buy other cryptos instead. In this case you may want to have a look at the best privacy coins.
The best privacy coins page lists different privacy methods and says whether or not they are truly private. It also includes some explanations and examples.
On the other hand, Dash lacks privacy just as much as Bitcoin does. Bitcoin has a transparent blockchain anyway. Its transactions are disclosed publicly on the blockchain for all to see online.
For this reason, up till today Dash is still considered to be a good crypto. Some have ditched Dash because they felt they were duped by the Dash teams marketing. Since they said it was private. However Dash still attracts seasoned investors to buy Dash to invest or trade it.
It is not as popular as it once was, but it still is popular. Especially considering the amount of cryptocurrencies that have launched since Dash came out. Dash has quite a lot more competition. However it is still holding out. Hence why it is still in the top 100 in market cap.
Frequently Asked Questions
Where can I buy Dash?
How can I buy Dash?
1. Choose and exchange
2. Sign up
3. Verify your account
4. Wait for approval
6. Buy Dash
What is the cheapest way to buy Dash?
Is Dash better than Litecoin?
Is Dash a privacy coin?
The information on this page should not be considered financial advice. It has been compiled after thorough research into the topic. If you are considering buying any cryptocurrency you should seek financial advice. Please note we may get a fee from the recommended services listed above.