Are you looking for how to buy Dash cryptocurrency? You’ve just found the right article that will help you through the process. In the rest of this post, you will learn how to buy Dash cryptocurrency on different platforms including Coinbase, Kraken, and Binance among others.
Before we dive into the process, let’s briefly run through what you probably don’t know about this digital asset.
What is Dash cryptocurrency?
Dash is a peer-to-peer decentralized cryptocurrency that operates on anonymity. Transactions on Dash are totally anonymous. Dash is an open-source cryptocurrency.
Dash was created in January 2014 by Evan Duffield. It was formerly called ‘Darkcoin’ before it was renamed Dash in 2015.
Dash cryptocurrency is also optimized for online payments and uniquely makes transactions private, fast, and easy.
How does Dash work?
Dash is a decentralized, open-source cryptocurrency that was created to offer a faster and more private alternative to Bitcoin.
One of the main features of Dash is its use of a two-tier network. The first tier is made up of ordinary nodes that process transactions and secure the blockchain, just like in Bitcoin.
The second tier is made up of special nodes called “masternodes,” which provide additional features to the network, such as instant transactions (called InstantSend) and private transactions (called PrivateSend).
In general, Dash is a user-friendly cryptocurrency that offers a fast and private way to make electronic payments and store value. Anyone can propose a new feature to the Dash network but final decisions are made by votes among the Masternodes.
Let’s now look at a step by step guide on how to buy Dash cryptocurrency on different platforms.
Steps to buying dash cryptocurrency on Kraken
Kraken is a cryptocurrency exchange platform where you can buy and sell different cryptocurrencies. As someone looking for how to buy Dash cryptocurrency, Kraken.com is a place to get started.
1. Create a Kraken account
To start buying Dash cryptocurrency on Kraken, you must first sign up for an account on Kraken.
Register your email address and pick a strong but easy-to-remember password.
2. Verify your account
After signing up and providing some basic information about yourself, you can begin to buy Dash cryptocurrency on Kraken.
Make sure all information you’ve filled in is 100 percent correct. You might be required to provide your name, date of birth, phone number, country, and a few more things.
In order to use cash (i.e. USD or EUR), you’ll need to provide additional supporting documents verifying your identity. The documents may be your International passport, National Identification Card, or any other method of identity verification.
3. Deposit cash or cryptocurrency
After verification, you can fund your account with cash or cryptocurrency.
Once your account is funded with cash, you’re ready to buy your DASH cryptocurrency.
How to buy Dash cryptocurrency on Coinbase
To get started on how to buy Dash cryptocurrency on Coinbase, follow these steps;
1. Sign up on Coinbase
Before you begin to buy Dash cryptocurrency on Coinbase, you need to first create an account and sign up.
A valid ID and address may be required, so it is important to have them ready – just in case. After this information has been provided, the next step is verification which completion time varies depending on where you live.
2. Add a payment method
You can add your bank account or a debit card as your payment method. To do this, tap on the payment method box and connect a payment method.
3. Start the buying process
If you’re not using the mobile app, on Coinbase.com, click Buy & Sell. If you’re using the mobile app, tap the ( + ) Buy on the Home tab.
4. Select Dash from the list of assets
On the Coinbase mobile app, you can search for Dash by typing “Dash” into the search bar.
On the website, click the Buy panel to search and select Dash. When you see Dash appear in the results, click on it to open up the purchase screen.
Enter the amount of Dash cryptocurrency you want to buy, in your local currency. You can tap the arrow buttons to the right of the amount of money you want to spend to switch the number to the equivalent amount of Dash.
5. Complete purchase of Dash cryptocurrency
Click on “Preview buy” when ready. You’ll be given the details of your purchase. If you’re sure you want to proceed then confirm your purchase by clicking “Buy now”.
How to buy dash on Binance
Binance needs no introduction in the crypto landscape and it is one of the platforms you can purchase Dash cryptocurrency. Here’s how:
1. Create a free account
You can decide to create a free account on the Binance app or website. After creating an account, verify your identification.
2. Choose how you want to buy the Dash cryptocurrency.
Click on the “Buy Crypto” link on the top left of the Binance website, and the available cryptocurrencies will be visible to you.
There are different ways to purchase Dash Cryptocurrency, they include;
A. Credit Card and Debit Card
This is the easiest option to purchase Dash cryptocurrency, especially for new users. Binance accepts both Visa and MasterCard.
B. Bank Deposit
You can transfer fiat currency from your bank account to Binance, and then use the amount to buy Dash.
C. P2P Trading
You can buy Dash cryptocurrency directly with Binance’s peer-to-peer service.
How to buy Dash cryptocurrency on YouHodler.com
There are different ways to buy Dash cryptocurrency on YouHodler.com, they include;
1. With a Debit or Credit Card.
You can buy Dash cryptocurrency on the website with a debit or credit card. All you need to do is sign up or log in on YouHolder.com. Click the ‘Buy Crypto’ icon and follow the instructions after that.
They’re easy to understand, so you have no worries.
2. Buy DASH cryptocurrency with a bank wire transfer:
You can also buy Dash with a bank wire transfer. You have to sign up or log in to YouHodler.com and pick the fiat wallet of your choice.
When you find the wallet, click ‘deposit’ and choose the “Bank Wire” option. Follow the instructions to deposit fiat via bank wire. When the funds are visible in your fiat wallet, convert the fiat funds to DASH by clicking the “convert” button.
Is it safe to buy Dash cryptocurrency?
Dash like every other cryptocurrency is a risky investment but despite its volatility, it can still result in something worthwhile.
While Dash is a secured asset, you also need to prioritize protecting your dash. You can use Ledger hard wallets to secure your dash. Ledger hardware wallets combined with Ledger live have been designed to help you buy and secure your Dash and other cryptocurrencies.
Dash is extremely safe to use as a result of its X11 mining algorithm. Nevertheless, it is always important to do your research before buying the Dash cryptocurrency.
Can I buy Dash cryptocurrency with a credit/debit card?
You can buy Dash with a credit or debit card on a crypto exchange like Coinbase or Coinmama.
What is special about Dash cryptocurrency?
The most unique thing about Dash cryptocurrency is the privacy and swift transactions.
Dash also offers cheap payments to its users anywhere in the world. It aims to provide a user-friendly experience and privacy equal to cash.
How do I store my dash cryptocurrency?
To store your dash, you will need to set up a wallet to store your Dash cryptocurrency in.
Some of these wallets include;
Desktop wallets: These are software programs that you can download and install on your computer.
Mobile wallets: These are apps that you can download and use on your phone.
Web wallets: These are online platforms that allow you to access your Dash from any device with an internet connection.
Hardware wallets: These are physical devices that are designed to securely store cryptocurrencies.
Is Dash anonymous?
Dash uses a feature called “PrivateSend” to allow users to send and receive payments anonymously. This doesn’t mean that the transactions that take place on the Dash network are not recorded.
How is Dash cryptocurrency different from Bitcoin?
Dash is faster than Bitcoin, Dash is able to process transactions more quickly because of its use of Masternodes. Dash also has a self-funding and self-governance system that allows it to finance its development.
Can Dash be used to purchase goods and services?
Yes, Dash can be used to purchase goods and services because vendors accept it as a form of payment. You can also use Dash in real-world situations because it contains different payment processors and ATMs.
Getting started on how to buy dash cryptocurrency isn’t complicated as it may seem.
This article has put you through the easy steps on how to buy Dash cryptocurrency on different platforms.
I’d recommend you make your due diligence so you can pick the most suitable platform for you.