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.

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 invest.

Binance
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Min Deposit
€1
Russian Federation
Key Features
Huge range of cryptocurrencies
Highly liquid
2 Factor Authentication
Top Coins
  • Bitcoin
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.
eToro
Key Features
Access the world’s most popular Crypto assets including Bitcoin
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options
Min Deposit
€200
Russian Federation
Key Features
Access the world’s most popular Crypto assets including Bitcoin
Automatically copy the trades of top Crypto traders
Deposit using PayPal + 9 other deposit options
Top Coins
  • NEO
  • Cardano
  • Bitcoin
  • Stellar
  • Ripple
Payment Methods
Credit Card, Debit Card, Wire Transfer, PayPal, Skrill, Neteller, Yandex, WebMoney, UnionPay, MoneyGram
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, Crypto, ETF’s, indices and commodities. 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.
eToro is a multi-asset platform which offers CFD and non CFD products. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Bitpanda
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Min Deposit
€1
Russian Federation
Key Features
Fully automated platform with instant transactions
A wide variety of payment options
Good for beginners
Top Coins
Payment Methods
Visa, Mastercard, Neteller, Skrill, Sofort, Giropay, EPS, Credit Card
BitPanda is a Bitcoin broker based in Austria. It offers a wide range of payment methods and has good prices.
Coinmama
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Min Deposit
€60
Russian Federation
Key Features
Safe & Secure cryptocurrency exchange
Easy Intuitive interface
Impressive limits
Liquidity Accepted in over 200 countries
Top Coins
  • Bitcoin
Payment Methods
Debit Card
Coinmama is a bitcoin broker based in Israel. They specialize in selling bitcoins for credit card to nearly anyone in the world.
Coinbase
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Min Deposit
€2
Russian Federation
Key Features
Trusted provider
Online Wallet
2 Factor Authentication
Beginner friendly
Top Coins
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in 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

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.
  • 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 only interested in trading DASH 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 platforms 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 trading platforms 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 of Dash
  • 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 of Dash
  • 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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