How to Buy Dash – Complete Guide
Are you thinking of expanding your cryptocurrency portfolio with Dash coin? Before you wade in head first and buy Dash online for the first time, it’s a good idea to carry out some in-depth research on the best places to invest in Dash and the various payment methods available. It’s a great time to start buying Dash coin. This hard fork of the Bitcoin protocol is designed to operate as an enhancement of the original Bitcoin cryptocurrency. Its founder, Evan Duffield, was concerned that the Bitcoin community was overlooking a key issue regarding privacy. Dash coin owners are subsequently given the option of making swift transactions with 100% anonymity.
If you’re new to the concept of Dash coin, we’ve researched, tested and reviewed the best Dash brokers and exchanges to help you buy Dash online with ease.
Why buy Dash now?
There’s no denying that Dash coin is one of the most talked about alternative cryptocurrencies in the digital currency space. The name Dash is derived from a mixture of ‘digital’ and ‘cash’, as it seeks to rival Bitcoin as the most popular form of digital currency to pay for goods and services. The currency has already had two previous guises in the shape of ‘XCoin’ and ‘Darkcoin’ before the founders eventually settled on Dash, which has become an increasingly well-recognised cryptocurrency brand.
Dash coin certainly has the ability to challenge Bitcoin. It is already outperforming several competitor altcoins such as Monero and Zcash. This is because Dash has several in-built benefits that appeal to the cryptocurrency community. Aside from the fact that Dash coin can facilitate the instant transfer of digital assets anonymously, it also features a PrivateSend functionality – an in-built coin mixing model that improves transaction anonymity for cross-platform payments.
In September 2018, the Dash price experienced a 12.7% surge after news within the cryptocurrency industry confirmed that Dash was now accepted as a legitimate form of payment by more than 3,000 global businesses. Interestingly, the highest concentration of these firms was located in Venezuela. The same report also suggested that the number of Bitcoin and Bitcoin Cash transactions had fallen since the end of 2017. Meanwhile Dash transaction volumes have remained stable despite the bearish-looking cryptocurrency market. Consequently, Dash would appear to be a more stable choice for investing in an emerging altcoin that could have a sizeable impact on the way digital assets are used in the years to come.
What is the best site to buy Dash?
We recently conducted significant research into where to buy Dash coin. We’ve established the top four options, based on their reputation, reliability and intuitiveness. Review our clear comparison table below for a simple understanding of the pros and cons of each Dash broker or exchange:
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A comparison of the top three brokers
eToro is a very unique platform for investing in cryptocurrencies, as well as stocks and commodities. If you choose to buy Dash coin through eToro, you won’t have to physically own and store your Dash coin. eToro is a contracts for difference (CFD) broker. This means that members place ‘buy’ and ‘sell’ orders on the price of Dash. They then profit based on whether the price rises or falls when they close their position. It is a well-regulated trading platform for altcoins as well as established digital assets.
24option is another of the leading CFD brokers for all kinds of cryptocurrencies. The main reason why eToro is a preferred CFD platform for those looking to buy Dash coin is that it is regulated by the UK’s Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC). At the time of writing, 24option is unregulated, which can pose a danger to risk-averse crypto investors.
Unlike the first three options, Binance is a cryptocurrency exchange rather than a CFD platform. With no need for brokers, users can buy and sell cryptocurrencies themselves – including Dash coin. However, if you don’t want the hassle of physically owning and storing your new Dash coin, you’ll be put off by using an exchange like Binance. However, it is worth noting Binance has its own official cryptocurrency wallet called Trust Wallet.
Our expert opinion: Invest using eToro due to the following reasons
eToro allows you to trade on the price of cryptocurrencies
- Those new to cryptocurrency investing can take part in the eToro CryptoFund. This allows members to follow the trading strategies of those that are profitable in the long-term when buying and selling digital assets such as Dash coin. Check out our eToro review to get under the skin of the eToro CryptoFund.
- eToro is the only CFD cryptocurrency broker that is regulated by the FCA and CySEC. The 24option review states that it is wholly unregulated, which may pose a risk to newcomers to buying and selling cryptocurrency.
- An active user base of more than six million members globally.
- No requirement to set up a cryptocurrency wallet – signing up to eToro allows you to profit from simply trading the price action of Dash coin.
Looking to buy Dash coin? Payment methods
Credit card & debit card
It is quite possible these days to buy Dash coin using a credit card. There are certain cryptocurrency platforms that allow users to register credit cards to buy Dash, including Changelly and CEX.IO. In fact, the former permits credit and debit card deposits. Our preferred option for buying Dash coins, eToro, also accepts credit and debit card deposits, with maximum transactions of $20,000 per deposit welcomed.
At the time of writing, cryptocurrency investors cannot use PayPal accounts to directly buy Dash coin online. If you are wondering where to buy Dash coin, sign up to eToro to take advantage of their PayPal deposits. This social trading community accepts PayPal as a payment method, with the chance to credit your eToro account within seconds to start buying and selling the price of Dash.
How to buy Dash in your country
If you are looking for the best exchange to buy Dash in your country, it will largely depend on your nation’s view towards the cryptocurrency industry. Some countries have adopted very strict, prohibitive stances towards digital assets, while others have firmly embraced the cryptocurrency space.
How to store Dash coin in a wallet
Unfortunately, many web-based (software) cryptocurrency wallets come with a range of security risks to investors in Dash coin. It would be far more preferable to invest in a hardware wallet to store Dash coins offline. However, you can avoid the rigmarole of securing a crypto wallet* by trading the price of DASH via a CFD broker such as eToro.
*Link to wallet hub page here
Other ways to get Dash coin
It is very possible to mine for Dash coin, but it’s important to note that mining using CPU and GPUs is no longer a profitable process. ASIC miners are more resourceful. BitMain’s AntMiner D3 can help you get started.
Put simply, if you want a straightforward, secure way to try and make money from Dash coin, we would highly recommend eToro as a starting point. It is well regulated, offers a great range of markets and trading tools to help you make an informed decision. It is also less hassle than using an exchange like Binance, avoiding the need to store and secure your DASH and run the risk of losing them to cyber-criminals.
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