How to Buy Dash in 2020: Buy, Sell & Trade

One of the original altcoins promising ‘financial freedom’, Dash is a decentralised payment solution with a strong emphasis on privacy and speed. In this guide we’ll take a look at what DASH coin is, how it works, how to buy DASH coin and where to trade it.

Where to buy Dash

Read on to find out more about Dash in 2020 or skip ahead to our step-by-step buyers guide if you’re up to speed and ready to buy Dash coin.

eToro
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Min Deposit
$50
United States
Start Trading View key features
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Top Coins
  • ETH
  • NEO
  • ADA
  • BTC
  • XLM
Payment Methods
Wire Transfer, Bank Transfer
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
FOREX.com
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Min Deposit
$50
United States
Start Trading View key features
Key Features
Trade on popular Crypto markets
Go long or short on cryptos from 10p a point
A trading partner you can trust
Top Coins
Payment Methods
Debit Card, Bank Wire, ACH, Credit Card, PayPal
Founded in 1999, part of GAIN Capital Holdings. Licensed in highly regulated juristictions, FCA, IIROC, NFA, CFTC, CIMA,FSA. Payment methods ACH, debit card, bank wire transfer. $50 minimum deposit.
Forex trading involves significant risk of loss and is not suitable for all investors.
CEX.IO
Key Features
Margin Trading
Legal compliance
Cryptocurrency staking
Various Payment options
Min Deposit
$20
United States
Start Trading View key features
Key Features
Margin Trading
Legal compliance
Cryptocurrency staking
Various Payment options
Top Coins
  • BTC
  • ETH
  • USDT
Payment Methods
Credit Card, Debit Card, Wire Transfer, Cryptocurrencies, Skrill
Cex.io offers exchange of fiat currency for Bitcoin Ethereum, Tether, and 23 other cryptocurrencies, as well as Bitcoin/Ethereum trading against the USD.
Bittrex
Key Features
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
Min Deposit
$1
United States
Start Trading View key features
Key Features
One of the largest cryptocurrency exchanges
High volume across all pairs
Perfect for large and small buyers/sellers
Top Coins
  • BTC
Payment Methods
Credit Card
Bittrex Global has one of the most secure trading platforms and digital holding infrastructures in the world where customers can access exciting new products.
Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
$1
United States
Start Trading View key features
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
  • BTC
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

What is Dash?

The first thing to say about Dash is that it isn’t a development platform. In fact, it’s a blockchain-based cryptocurrency that, as its portmanteau brand name suggests, functions like digital cash. Dash is designed to offer a rapid digital payment solution that’s built on the Bitcoin protocol, thus offering decentralised governance and independence from any central authority.

How does Dash work?

Dash has a past life. Back when it was launched in 2014 it was called Darkcoin and promoted as a coin that offers unprecedented anonymity and privacy via super-strong encryption. While privacy remains an important feature of the Dash offering, its current incarnation foregrounds more mainstream benefits like speed and ease of use. Dash is being positioned as the crypto for daily transactions.

To achieve Bitcoin-beating scalability Dash bolsters its network of nodes with Masternodes. What the devil are Masternodes? Well, as the name implies, Masternodes are like nodes but more important. The Dash website describes them as ‘powerful servers backed by collateral held in Dash’ that are ‘designed to provide advanced services and governance on the blockchain’. Masternode operators are rewarded with regular Dash payments.

How to buy Dash online – step-by-step guide

Step 1. Get a suitable wallet

After you buy Dash coins online, you will need to store them somewhere. A wallet allows you to store your DASH securely. It’s a good idea to have one ready before you invest so you’re able to transfer your freshly acquired currency off the exchange and keep them safely stored. There are a few good options on the market, including:

  • Ledger Nano X: One of the safest options for storing your DASH is the Nano X hardware wallet from Ledger. It’s not the cheapest wallet out there, but if you’re serious about security, it’s one of the best. 
  • Dash Core Wallet: The official Dash wallet is available for desktop and connects you to the Dash network offering a host of P2P client features, including InstantSend, PrivateSend, governance and masternode management.

Step 2. Find a Dash exchange

There are plenty of exchanges on offer if you want to buy and sell DASH. Each has advantages and disadvantages, so it’s a good idea to do a bit of research. To get you started, here are two of our favourite DASH exchanges: 

  • Binance: Widely considered to be the best, most dependable place to buy altcoins, Binance is the world’s biggest crypto exchange. It offers a huge marketplace and fees that compare favourably with its main competitors, plus a well-designed mobile app. Check our Binance review for more details.
  • Kraken: Founded in 2011, Kraken is one of the biggest and most trusted cryptocurrency exchanges around and, in 2020, is a great place to buy DASH. It’s US-based but has links with banks in Germany and Japan. Kraken users can trade a wide variety of fiat currencies and cryptocurrencies on the platform. 

Step 3. Withdraw your Dash

It’s a good idea to secure your DASH by moving them off the exchange and into your wallet as soon as possible. To withdraw your DASH to your wallet you need to generate an address then paste it in the relevant field of your exchange account. 

How to trade Dash – step-by-step guide

If you’re not planning on buying DASH and only interested in trading it you needn’t worry about getting a suitable wallet because trading involves taking a position on a currency rather than actually buying it. This means you can potentially make a profit from DASH without the hassle and security risk of owning it. 

Step 1. Find a broker

You may struggle to find a trading platform that offers DASH but this will probably change over time. Plus500 and eToro are two of the most popular crypto trading brokers and worth a look. 

Step 2. Deposit money

Most trading platforms will allow you to deposit Fiat money (USD, GBP, EUR etc.). It’s worth noting that crypto brokers offer leveraged trading, which means you don’t have to put down the full value of a trade. Instead you can pay a deposit, known as a ‘margin’. This means you can potentially make bigger profits and, of course, bigger losses.

Step 3. Decide how you’d like to trade

There are two methods to trade cryptocurrencies: CFDs (contracts for difference) and Spread Betting. Both methods essentially entail speculating on the price movements of your chosen currency. If you aren’t sure which option to go for, we recommend researching the differences between spreads and CFDs.

Step 4. Start trading

If you’re a complete novice we recommend starting with a demo account and familiarising yourself with the process and the platform. Cryptocurrency trading is extremely volatile, which means you can make and lose money very quickly. Cryptocurrencies are prone to fluctuation, which makes them intriguing prospects for traders who look to exploit volatility.

As a crypto trader you’re speculating on your currency’s price movements by taking a short (sell) or long (buy) position. If you think DASH will fall in value you should take a short position, if you think it will rise in value you should take a long position.

You may choose to incorporate leverage into your trading strategy. Leveraged trading allows you to put up a fraction of the trade’s value as a deposit or ‘margin’. This can be risky, though, so make sure you have a stop loss in place for damage limitation.  

Still undecided?

Pros
  • Transaction speed could give Dash an edge
  • Clearly aiming for mass adoption as the everyday digital payment platform
  • Dash has shown impressive staying power and evolved its offering since 2014
Cons
  • Price likely to be closely tied to BTC until market matures
  • Jury’s still out on Digital Cash as a prospect, although this is gradually getting closer
By Harry Atkins
Harry joined us in 2019 to lead our Editorial Team. Drawing on more than a decade writing, editing and managing high-profile content for blue chip companies, Harry’s considerable experience in the finance sector encompasses work for high street and investment banks, insurance companies and trading platforms.
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