How to Buy Dash – A Beginner’s Guide
By: Ofir Beigel | Last updated: 8/29/22
Dash has become one of the more popular cryptocurrencies around, due to the anonymity it provides its users.
In this guide, I’ll give you a short overview of the currency and explain the different ways you can buy Dash online, and even offline.
How to Buy Dash Summary
In order to buy Dash follow these steps:
- Get a Dash Wallet (Ledger Nano X, Edge)
- Find your Dash address
- Sign up to CEX.io
- Buy Dash via the brokerage service / trading platform
- Withdraw your Dash coins to your wallet.
If CEX doesn’t work out for you, here are some additional recommended options for buying Dash:
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CFDs are not available to US customers.
That’s how to buy Dash in a nutshell. If you want a detailed review of Dash and additional buying options, keep on reading. Here’s what I’ll cover:
- What is Dash?
- How to Buy Dash
- Frequently Asked Questions
Dash is a popular open source, peer-to-peer (P2P) decentralized cryptocurrency that focuses on anonymity, ease-of-use and fast transactions. It aims to be a true form of digital cash, hence its name. Dash forked out of Bitcoin’s protocol back in 2014 and has been growing ever since.
The Dash Core team consists of just under 40 employees who are continually improving the protocol.
Dash promotes anonymity by enabling a feature called PrivateSend. This feature allows users to make completely anonymous transactions by mixing coins through computers called masternodes in order to make it nearly impossible to track a transaction from start to finish.
Dash also has a feature called InstantSend, which allows for payment confirmation in less than a second, while avoiding the double spend problem that is a common concern with other cryptocurrencies.
In addition, Dash is secure, as transactions are confirmed by thousands of miners around the world. As you can see, Dash has a number of advantages over Bitcoin, as it ensures nearly instantaneous, private transactions. This addresses the main problems with Bitcoin as Bitcoin isn’t completely anonymous and transactions on average take a lot longer.
For a deeper explanation about Dash, watch this excellent video by Box Mining:
Before starting the process of buying Dash, you’ll need to get a Dash wallet. Much like Bitcoin wallets, there are different types of Dash wallets.
For large amounts of Dash, always use a hardware wallet. If you’re just “playing” with the currency, a mobile or desktop wallet will do just fine.
Dash Hardware Wallets
Hardware wallets keep your private key (i.e. your funds) offline and are nearly impossible to hack. However, unlike software wallets, they have a price tag.
Dash Desktop Wallets
One of the best desktop wallets to store and use Dash would be Exodus, an intuitive and easy to use wallet available on Windows, Mac and Linux as well as iOS and Android. Exodus lets you send, receive and exchange Dash along with over 180 other cryptocurrencies.
Anyone looking for all the benefits of Dash, like PrivateSend and InstantSend, should use the Dash Core wallet available for Mac, Linux, and Windows.
Dash Mobile Wallets
There are a few mobile Dash wallets available for both Android and iOS. Edge is the most popular choice for both platforms. Additional options include the Dash Core wallet for iOS and Android. Coinomi is also a good option if you’re looking for a trusted mobile wallet, Coinomi is available on iOS and Android as well as having a desktop version for Windows, Mac and Linux.
For a complete list of compatible Dash wallets, visit the official Dash site.
Finding your Dash address
Once you have your Dash wallet, you will need to get your Dash address. A Dash address is a long string of numbers and letters (case sensitive) that starts with an “X”. Here’s an example:
Purchasing Dash or any cryptocurrency, including Bitcoin, is often far trickier than it should be for anyone who is new to this industry. Here are the top options for buying Dash with a credit/debit card or wire transfer.
eToro – Platforms like eToro allow you to instantly invest and trade Dash to make money off its price changes. They also give you actual access to your coins, but it’s harder to withdraw them than with other crypto exchanges.
In other words, this platform is for you if you mainly want to speculate on the price. You can read my complete eToro review here.
IMPORTANT! If you use eToro you don’t actually need a Dash wallet (if you’re only speculating on the price), since you probably won’t withdraw your coins.
Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. So keep in mind that your capital is at risk.
*eToro users: 75% of retail CFD accounts lose money. Your capital is at risk. US users – CFDs are not available for US users. US users can only trade (long) real assets without leverage.
CEX.io, established in 2013, is one of the oldest companies in the game. You can buy Dash through their brokerage service or use their trading platform.
If you know your way around trading platforms (i.e. market orders, limit orders, etc.), it’s best to use these as you’ll save a substantial amount on fees. If you’re a beginner, however, it might be easier to use the brokerage service (“Buy/sell” on the nav bar).
Deposits can be made with credit card, debit card, wire transfer or SEPA transfer. You can read my complete CEX.io review here.
BitPanda allows you to buy Dash using your credit/debit card, Skrill account, SEPA transfer, SOFORT transfer, NETELLER or GIROPAY/EPS. Buying on Bitpanda requires verification and buying limits are relatively low.
BitPanda is available in Europe and the UAE only, and for now they only offer a brokerage service. This means the company will sell you Dash directly for a premium. You can read my complete Bitpanda review here.
Binance is a crypto exchange that lets you buy Dash using a credit/debit card, SEPA transfer or bank transfer. Fiat deposit fees are competitive and their trading platform offers some of the lowest trading fees on the market.
Alternatively, if you already own Bitcoin, Ether or one of the 500 other coins supported on Binance, you can quickly and simply trade it for Dash as well. You can read my complete Binance review here.
Purchase Dash through Kraken
Kraken allows you to fund your account with USD or EUR through a wire transfer, or you can use a credit or debit card to buy Dash directly. Depositing funds into your account will take longer and may possibly require additional verification, however it will probably have lower fees when compared to using a bank card to buy Dash directly. You can read my complete Kraken review here.
Buy Dash Directly With Cash
Dash ATMs – Can be found across three locations in the United States: Oregon, Florida, and New York. While the fees are high, this is one of the easiest ways to acquire Dash.
ATM locations to purchase BTC and other cryptocurrencies can be found at CoinATMRadar.
Once you finish buying Dash, don’t forget to move the coins into your personal wallet. Never leave coins on an exchange as they can be lost or stolen.
Once the coins reach your wallet you officially own Dash.
What is the Price of Dash?
The current price for 1 Dash is 42 USD.
Is Dash Mining Profitable?
No. As of the time of writing in 2022, surging energy prices mean Dash mining is not profitable even with a dedicated setup and hardware. It’s best to use a Dash mining calculator to estimate profitability based on your personal electricity cost, however when using the average residential electricity rate in the US we found Dash mining to not be profitable, even when using a dedicated Antminer D3.
What does Dash Stand for?
Dash stands for Digital Cash.
As one of the earlier cryptocurrencies out there, Dash has continuously held one of the top 100 positions in terms of market cap. Whether or not Dash will be the preferred method for anonymous transactions in the future, remains to be seen.
Have you had any experience with Dash yourself? I’d love to hear about it in the comment section below.