In the past few years, Dash became a very popular type of cryptocurrency due to various reasons. Dash is a cryptocurrency of next-generation,whichis based on bitcoin’s software. Bitcoin is undoubtedly the finest example of decentralized digital currency,but it is not very secure and has a long block mining time. Dash, on the other hand, is much faster and secure. This cryptocurrency focuses on fast transactions, ease of use and,most importantly,anonymity. Dash got its name from “Digital Cash” and it is a decentralized Peer to Peer cryptocurrency.
What is Dash Coins?
What makes Dash different and better than other forms of cryptocurrencies is that it focuses on anonymity more than anything else. It is next to impossible to track a Dash transaction because it uses a feature called Private send. This means no one can track a Dash transaction from start to end. Dash is an altcoin forked from the protocol of Bitcoin. Its block mining time is just 2.5 minuteswhich is 4 times faster than Bitcoins.
In addition to that, the payment takes less than a second to be processed. It uses the Instant Send feature,which makes the transactions super-fast while protecting the users from double-spending. Double spending is a very common problem with other digital cash like Bitcoin or Zetacoin.
The current price of a Dash coin is USD 69 and at the time of writing this guide, there are around 7.85 million Dash coins in transactions.
Investing in Dash coins is safe and profitable. If you are new to this field and want to purchase Dash coins for the first time, here is how you can do it.
How to buy Dash Coins
The first step towards purchasing Dash coins is a Dash Wallet. Just like any other digital coin,you need a wallet to purchase Dash coins. There are many different types of Dash wallets available and you can go for the one based on your requirements.
There are three types of Dash wallets available where you can store your funds.
- Hardware wallet
- Dash Desktop Wallet
- Mobile wallet
1. Hardware wallet
If you are dealing with a large amount of Dash coins, then it is always better to go for hardware wallets. In a Hardware wallet, your funds are kept private or offline and this keeps your funds safe and secure. But hardware wallets are not free,they come for a cost, on the other side,desktop and mobile wallets are free to use.
2. Dash Desktop Wallets
Electrum Dash wallet is a desktop wallet which canbe used for purchasing Dash Coins. These Desktop wallets are free,but you will not get advanced features like Private send and Instant send.
3. Mobile Wallet
You can use mobile wallets for purchasing and storing Dash coins. Some popular wallets available for both Android and iOS users are Dash Core Wallet and Edge.
Getting your Dash Address
Ok, so now you have a dash wallet ready. Now the next step is getting your Dash Address in order to purchase Dash coins. Dash address is a unique combination of letters and numbers that starts from Capital X. One example of a Dash address is Xf9RGJcz2vRS6Pv79830s830Gk. Thisis case sensitive in nature.
Dash Exchange Platform
You will have to find the right platform to purchase your Dash Coins. You need to take help of a brokerage service provider or a trading platform to purchase your Dash coins. A trading platform is always the best and also much cheaper than brokerage services,but for beginners, brokerages services are the best option with no difficulties involved. Some of the best options are-
1. Using e-Toro
eToro could be an ideal option for you to purchase Dash Coins. Using this platform, you can purchase Dash coins almost instantly,but the problem here is you can send your coins purchased through eToro to others. In simple words, they do not give you full control over the coins you purchase.
If you are thinking of using eToro, there is no need to get a Dash wallet because you do not completely own the purchased coins and they cannot be transferred to a wallet.
2. Using Bitpanda
Another great option to purchase your Dash coins is through Bitpanda. Bitpanda allows you to buy cryptocurrencies using a credit card, SOFORT Transfer,or SEPA Transfer. Bitpanda is available for people living in Europe and they do not provide trading service. You can buy Dash coins only through their brokerage service.
Coins purchased through Bitpanda can be transferred to other people as you have full control over the purchased coins.
3. Using CEX.io
The best option or platform to purchase your digital coins is by using CEX.io. This is leading as well as one of the oldest companies in this field. CEX.io provides both brokerage services as well as a trading platform which can be used by experienced coins purchasers.
CEX accepts payments through various methods. You can either use your debit card or credit card, SEPA transfer,or wire transfer to purchase Dash coins. You can then transfer the purchased coins to the Dash wallets.
4. Using Kraken
Kraken has the lowest transaction fee and they allow you to purchase digital cash through wire transfer. But Kraken only accepts EUR or USD and the transaction will take longer than other platforms to be processed. However, it is still a great choice because of the lowest fee.
Buy Dash coins from ATM
If you are living in the United States, it is possible to purchase Dash coins or other cryptocurrencies directly with cash using Dash ATMs. These ATMsallow you to pay directly with cash and the coins are sent to your wallets in a very short time. The only downside here is you need to pay high fees for cash transactions.
Sending the purchased coins to Dash Wallet
Once you have purchased the coins, do not forget to send the same to your wallet. Wallets are the only place where your digital cash is safe and secure. It is advisable not to leave your coins on the exchange platform as they can be easily lost,or a digital thief can steal it in no time.
This is how you can easily purchase Dash coins online or offline.