Dash (sometimes referred to as “Dash Coin'') is an open source blockchain project that aims to improve upon the technology set forward by Bitcoin. Dash improves upon Bitcoin’s infrastructure by providing users with faster, more affordable transactions while still providing the security of proof-of-work consensus.
In addition to process quicker transactions, Dash also offers an enhanced level of security by taking advantage of ChainLocks, which makes the Dash blockchain instantly immutable. Dash also features a PrivateSend feature for a greater level of anonymity when sending money.
If you’re interested in investing in Dash (or another major cryptocurrency), our guide will help you get started and make your 1st purchase.
How to Buy Dash Coin (DASH)
- Open an Online Account
The 1st step to investing in the crypto market is to open an account with a broker that supports cryptocurrency investing. Like stockbrokers, cryptocurrency brokers buy and sell coins according to your instructions, typically in exchange for a fee or commission.
Some factors you might want to consider when you choose where to open an account may include:
Coin access. There are thousands of cryptocurrency projects, each of which offers its own token. No single cryptocurrency broker has the capacity to support every token currently trading on the market. Before you sign up with a broker, it can be a good idea to write down a list of coins you’re interested in purchasing so you can find a single broker that carries the assets you need.
Trading platform. Some brokers specialize in offering a simple, intuitive trading platform, while others appeal to advanced investors by offering a host of charting and analysis tools. Browse a few brokers before you decide which broker offers a platform that has the tools that you need.
Access to additional assets. Though most cryptocurrency brokers focus on providing only access to the crypto market, select brokers have expanded their offerings to include stock, metals and forex investing as well. If you’re searching for a 1-stop-shop for all of your investing needs, be sure to prioritize brokers that offer access to more assets.
Commissions and fees. Most crypto brokers charge a fee or commission each time you place a buy or sell order on their platforms. Be sure to read each broker’s fee schedule before you open an account, as high fees can quickly cut into any profits you see while trading.
Not sure where to begin your search for a broker? Consider starting with 2 of our favorite options below.
- Buy a Wallet
After you’ve chosen a broker to provide you with an account, it’s time to choose a wallet. A wallet is a digital program or physical device that you can use to store the cryptocurrencies you buy.
There are 2 major types of cryptocurrency wallets:
Hot storage. Hot storage wallets are computer or mobile applications that require connection to the internet in order to access your coins. While hot wallets are often free and support more types of coins, they offer less secure storage when compared to cold wallets.
Cold storage. Cold storage wallets are physical devices that store your cryptocurrencies without needing to connect to the internet. Though cold storage devices aren’t free and don’t hold as many coins as hot wallets, they provide you with the highest possible level of security for your coins.
- Make Your Purchase
Once you’ve got your brokerage account open and funded and your wallet is ready, you can place your 1st order to buy DASH. Look at the current market price of DASH to calculate how many coins you can purchase with your investment funds.
Then use your broker’s trading platform to place a buy order. There are multiple types of buy orders, and the order type that you choose will dictate how much you pay per coin and when your order is filled. You can browse some of the most common order types here.
After your order has been placed, your job is finished. Your broker will fill the order according to the instructions laid out in your buy order. When the order is complete, you’ll see your coins in your wallet. If the broker cannot fill the order, they may cancel it at the end of the trading day.
Best Cryptocurrency Exchange for Dash
- securely through eToro's websiteBest For:Demo AccountsRating:Read Review
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eToro is a popular cryptocurrency broker for new investors thanks to its wide range of unique investing tools. eToro allows you to buy and sell some of the most popular cryptocurrencies, including Dash, Ripple, Bitcoin, Ethereum and many additional offerings.
eToro’s CopyTrader functionality allows you to automatically copy the moves of professional investors. This can be a major advantage for new investors who are looking for a little guidance taking their 1st steps into the market.
Prefer to lean on your own time? eToro also offers virtual practice accounts that provide you with $100,000 worth of fake currency to hone your investing skills. When you’re ready to invest your own money, you’ll already have a handle on eToro’s ordering options and process.
Best Crypto Wallets for Dash
We recommend that all cryptocurrency investors purchase a cold storage wallet to keep their coins safe, as even a minor hack has the potential to result in thousands of dollars lost. Browse a few of our favorite cryptocurrency wallets that support Dash Coin below.
Best for Durability: SecuX V20
If you’re searching for the most secure and durable hardware wallet available, the SecuX V20 can be a great choice. The wallet supports over 1,000 cryptocurrency projects and includes military grade security features to ensure that only you have access to your coins. Device durability even extends to the casing, which features tamper resistant packaging and a sustainable aluminum case.
The SecuX V20 is compatible with most computers and mobile devices, including Windows, Linux and Apple setups. Its simple, streamlined interface is ideal for managing your cryptocurrencies on-the-go — and its 2.8-inch touchscreen display makes tracking your holdings without connection to the internet simple.
Best for Affordability: SafePal S1
Some cryptocurrency hardware wallets can cost upwards of $100, which can be unreasonable for some new investors. If you’re looking for an affordable way to store your coins and track your holdings on the go, consider the SafePal S1 wallet.
Backed by the team that created Binance (the world’s largest cryptocurrency exchange platform), the SafePal S1 provides you with a safe and comprehensive solution to store thousands of cryptocurrencies. With decentralized app support, mobile compatibility and a price point below $50, the SafePal S1 can be a great option for new cryptocurrency investors looking for their 1st wallet.
Trade or Sell Your Cryptocurrency
When your order closes, you’ll need to choose whether you want to hold your cryptocurrency long-term or if you want to sell. If you decide to hold your Dash for more than a month, be sure to move your cryptocurrency to your wallet to avoid the possibility of a hack.
If you decide to sell sooner, you’ll want to capitalize on multiple short-term price movements throughout the day or week. You’ll convert your Dash to a stablecoin (like Tether or USD Coin) when you think prices are peaking. When the price of Dash falls again, you’ll convert your stablecoin back to Dash, taking profits as you see fit.
If you do plan to trade frequently, you’ll want to choose a broker with a reliable, responsive platform. You can browse a few of our favorite options below.
Current Crypto Prices
Tracking how cryptocurrency prices are changing over time can help you predict when the best time to buy is. Take a look at the current state of the crypto market by browsing the table below.
Start Your Cryptocurrency Investment Journey
No matter which cryptocurrency you decide to invest in, remember that the crypto market can be exceptionally volatile. No matter how promising a new project looks, it still has the possibility to wipe out any initial investment that you make.
Though cryptocurrency can add a unique layer of diversification to your portfolio, be sure to never invest more money than you can afford to lose. Connect with 1 of our recommended brokers to buy Dash Coin today.
Frequently Asked Questions
What is DASH used for?
DASH aims to offer cheap, fast payment anywhere in the world.
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