How To Buy Dash (DASH)?

A common question you often see on social media from crypto beginners is “Where can I buy Dash?” Well, you’ll be happy to hear it is actually quite a simple and straightforward process. Thanks to its massive popularity, you can now buy Dash on most cryptocurrency exchanges, including Coinbase and Binance in 3 simple steps.

Step 1: Create an account on an exchange that supports Dash (DASH)

First, you will need to open an account on a cryptocurrency exchange that supports Dash (DASH).
We recommend the following based on functionality, reputation, security, support and fees:

In order to sign up, you will need to enter some basic information, such as your email address, password, full name and, in some cases, you might also be asked for a phone number or address.

Note: On specific exchanges, you might need to complete a Know Your Customer (KYC) procedure in order to be able to purchase cryptocurrency. This is most commonly the case with licensed and regulated exchanges.

Step 2: Deposit funds into your account

Many cryptocurrency exchanges will allow you to purchase Dash (DASH) with fiat currencies, such as EUR, USD, AUD and others. Furthermore, they will also provide you with multiple deposit methods through which you can fund your fiat account, such as credit and debit cards, ewallets or direct bank transfers.

Note: Some payment methods will have higher fees than others, such as credit card payments. Before funding your fiat account on your chosen exchange, make sure to do your due diligence to find out the fees involved with each payment method to avoid unnecessary costs.

Step 3: Buy Dash (DASH)

This process is similar across almost every cryptocurrency exchange. All you have to do is find a navigation bar or a search bar, and search for Dash (DASH) or Dash (DASH) trading pairs. Look for the section that will allow you to buy Dash (DASH), and enter the amount of the cryptocurrency that you want to spend for Dash (DASH) or the amount of fiat currency that you want to spend towards buying Dash (DASH). The exchange will then calculate the equivalent amount of Dash (DASH) based on the current market rate.

Note: Make sure to always double-check your transaction details, such as the amount of Dash (DASH) you will be buying as well as the total cost of the purchase before you end up confirming the transaction. Furthermore, many cryptocurrency exchanges will offer you their own proprietary software wallet where you will be storing your cryptocurrencies; however, you can create your own individual software wallet, or purchase a hardware wallet for the highest level of protection.

For more in-depth instructions, our ‘Absolute Beginner’s Guide To Cryptocurrency Investing‘ will take you through the process step-by step. In addition to providing instructions for sending and receiving your cryptocurrency.
And if you’re completely new to crypto our beginner, intermediate and advanced level articles will get you up to speed with everything you need to know about the cryptocurrency space starting out. 

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What Is Dash (DASH)?

Dash was initially launched in 2014 as “Darkcoin,” with a focus on user’s anonymity and privacy. Although the cryptocurrency still has robust encryption, the primary objective of the project has gone through readjustment. It was renamed with the aim to provide an affordable and convenient means to make day-to-day payments for a wide range of products and services. The currency wanted to be a highly practical alternative to bank cards and hard cash.

It also provides a robust solution for international remittances, especially in countries where financial freedom is limited due to a lack of access and technical hurdles. It delivers complete freedom and control to the user so they can send or receive money anywhere, to anyone in the world. They don’t have to deal with the paperwork, complexities of exchange rates, week-long delays, and hidden commissions and charges that add to the financial burden.

DASH is one of the widely accepted digital coins, as you can spend in more than 5,000 retail and online locations. Whether you are looking to purchase airline tickets or buy something as simple as next week’s grocery, it makes digital payments instant and affordable. Some of the places where you can use it to pay for products and services include eGifter, Bitrefill, Churchs Chicken Venezuela, NordVPN, Mobile TopUp, and more.

That being said, it still isn’t as ubiquitous as conventional cash. There are millions of locations that don’t accept the currency despite impressive growth in partnerships. That’s why we can’t regard it as a complete replacement of cash, although the trajectory that the currency is following may turn it into a close competitor in the near future.

How Does Dash Work?

Like Bitcoin, Dash also relies on miners to validate transactions in return, of which they are rewarded with the blockchain token. However, it has made some adjustments to the system by adding the concept of Masternode. Miners can acquire the status of a Masternode by depositing a minimum of 1000 DASH. This gives them the special status to carry out critical operations on the network. For instance, they are tasked with processing Instant Transactions (InstantSend) and Private Transactions (PrivateSend) along with overseeing blockchain’s overall governance and treasury.

The presence of Masternodes doesn’t only enhance the security of the network but ensures quick speed of transactions. Since this requires additional effort and resources, Masternodes are adequately rewarded for the support they provide. 45% of the rewards go to all miners, while Masternodes receive 45%. 10% of coins are allocated for funding future network projects and improvements. In order to send and receive funds, the cryptocurrency uses a similar protocol of public and private keys. This unique way of handling transactions doesn’t only allow it to process and verify transactions at a rapid pace but also ensures the miners who are putting in the excessive effort don’t leave the platform by rewarding them adequately.

Who Are the Founders of Dash?

Dash was founded by software developers Evan Duffield and Kyle Hagan. The project was originally called XCoin, changing its name to Darkcoin two weeks later before rebranding again to Dash in March 2015 in an effort to positively change its image.

Before launching Dash, Duffield was a software developer with experience in finance, from his time working at Hawk Financial Group, as well as in public relations, having developed machine learning algorithms and search engines. He first conceived of Dash in 2012 as a way to add more anonymity to Bitcoin — hence, originally calling it Darkcoin. Duffield has claimed that he started it as a hobby, coding it in just one weekend. Duffield served as CEO of Dash Core Group — the company that supports the continued development, integrations and other activities of Dash — until December 2017 when he stepped down to focus on other strategic initiatives.

Hagan co-authored the original Darkcoin whitepaper alongside Duffield. However, he left the project early on in December 2014.

Dash development updates in 2023

In 2023, Dash, known for its privacy focus and fast transactions, has continued to evolve with several key developments:

• Masternode Growth and Network Security: Dash celebrated the addition of its 62nd Masternode, contributing to its status as one of the most secure blockchain protocols. The increase in Masternodes enhances the decentralization and security of the network, making it resilient against potential attacks.

• Integration with Major Platforms: Dash saw integrations with significant crypto financial service providers. Matrixport and BingX, for instance, added DASH to their platforms, allowing users to deposit, withdraw, and transfer DASH. These integrations broaden the scope of DASH usage and accessibility.

• Protocol Improvements and Development: The Dash Core Group (DCG) is nearing the final release candidate for the Dash platform. This update is expected to include improvements to the DashPay Web Extension and changes to the Dash protocol, enhancing withdrawals and same-block execution. These developments will improve the overall efficiency and functionality of the Dash network.

• Community Engagement and Support: Dash maintains a strong and supportive community, which plays a crucial role in the ecosystem’s growth. The community’s engagement and feedback have been instrumental in guiding the development and adoption of Dash.

• Market Performance: Throughout 2023, Dash has shown resilience and growth in the cryptocurrency market, notably outperforming many other cryptocurrencies during market downturns. This performance reflects the market’s confidence in Dash’s utility and potential.

These developments highlight Dash’s continuous effort to improve its platform and increase its adoption in the cryptocurrency space. With a focus on usability and privacy, Dash is solidifying its position as a reliable and efficient digital currency for everyday transactions​​​​.

Official website: https://www.dash.org/

Best cryptocurrency wallet for Dash (DASH)

There are plenty of different crypto wallets available. The best one for you depends on your general trading habits and which provides the most security in your situation. There are two main types of wallets: hot storage wallets (digital) and cold storage or hardware wallets (physical). Both have their pros and cons, and there is not necessarily a right or wrong answer when it comes to figuring out which crypto wallet is best for you.

HOW DO I DECIDE WHICH cryptocurrency WALLET TO USE for Dash (DASH)?

Deciding which type of wallet to use depends on a variety of factors, including:

• How often you trade. In general, hot wallets are better for more active cryptocurrency traders. Quick login ability means you are only a few clicks and taps away from buying and selling crypto. Cold wallets are better suited for those looking to make less frequent trades. 
• What you want to trade. As mentioned earlier, not all wallets support all types of cryptocurrencies. However, some of the best crypto wallets have the power to trade hundreds of different currencies, providing more of a one-size-fits-all experience.
• Your peace of mind. For those worried about hacking, having a physical cold wallet stored in a safe deposit box at the bank or somewhere at home, provides the safest, most secure option. Others might be confident in their ability to keep their hot wallets secure.
• How much it costs. It is important to investigate the costs associated with each wallet. Many hot wallets will be free to set up. Meanwhile, cold wallets, like any piece of hardware, will cost money to purchase.
• What it can do. While the basics of each cryptocurrency wallet are the same, additional features can help set them apart. This is especially true of hot wallets, many of which come with advanced reporting features, insights into the crypto market, the ability to convert cryptocurrencies and more. Security features can also be a good differentiator.

For a more in-depth overview of cryptocurrency wallets visit our “Cryptocurrency Wallets Explained” guide.

If you’re going to be dealing in larger volumes of crypto, investing in cold storage might prove advantageous.
Most widespead examples of this being the Ledger Nano and the Trezor.

Ledger manufactures cold storage wallets designed for users who want increased security. Their wallets are a physical device that connects to your computer. Only when the device is connected can you send your cryptocurrency from it. Ledger offers a variety of products, such as the Ledger Nano S and the Ledger Nano X (a bluetooth connected hardware wallet).

Trezor is a pioneering hardware wallet company. The combination of world-class security with an intuitive interface and compatibility with other desktop wallets, makes it ideal for beginners and experts alike. The company has gained a lot of the Bitcoin community’s respect over the years. Trezor offers two main models – The Trezor One and Trezor Model T (which has a built in touch screen).