Dash coin, the digital currency striving after both speed and privacy in its dealings, has drawn many eyes to it in recent times. If you are wondering how to buy Dash coin, this guide will explain things clearly and concisely for you.
Understanding Dash Coin
Before deep diving into the process of buying, let’s outline what a Dash coin is. Developed in 2014, Dash is an open-source cryptocurrency that comes with features such as:
- Fast Settlement: Transactions are settled almost instantly.
- Improved Privacy: Dash uses a two-tier network and is designed to anonymise transactions.
- Decentralized Governance: Dash holders have a say in the coin’s development through a voting system.
Getting Started: What You’ll Need
Want to buy Dash coin? Here’s what you’ll need:
- Government-issued ID: It is for verification on the site you choose to buy from.
- Means of Payment: This may involve a debit card, credit card, or bank transfer, whichever is available on the platform.
- Dash Wallet: This will keep your Dash coin safe. There are various wallet options available, both online and offline. We shall consider them in more detail later.
Choosing a Platform to Buy Dash Coin
You can buy Dash coin on some cryptocurrency exchanges. Here are a few factors you’ll want to consider while choosing:
- Security: Look for a reputable exchange that assures you of good security.
- Fess: Compare the fees charged whenever a transaction or trade is made with different platforms.
- Payment Options: Check if the platform accepts your preferred payment method.
- User Interface: Go for a user-friendly platform, mainly if this is going to be your first cryptocurrency usage.
Popular Dash Coin Buying Platforms
Here’s a quick look at some of the popular platforms for buying Dash coin:
Coinbase: User-Friendly with a Variety of Cryptocurrencies, Including Dash.
Kraken: A mature exchange with a good level of security and liquidity.
Binance: A global exchange with a wide array of digital cryptos and features.
Steps to Buy Dash Coin
After choosing a platform, herewith are the steps for buying Dash coin:
- Create an Account: Register on the platform of your choice by providing your e-mail, password, and verification of your identity, which is usually done by uploading any form of identification.
- Fund Your Account: Deposit funds into your account using the desired payment method. Steps, in this regard, vary from one platform to another.
- Look for Dash Coin: Using the platform interface, look for dash coin. It’s usually abbreviated as DASH.
- Place Order: Specify a quantity of Dash coins you want to buy, along with your price. You can select either market order, purchasing at current prices in the market, or set your own prices with limit orders.
- Execute the Trade: If the details are to your satisfaction, confirm purchase before zeroing in on your Dash coin order.
Storing Your Dash Coin Securely
Now that you have bought Dash coin, you’ll need to store it safely. There are two primary ways to do this:
- Online Wallets: These are very convenient, but their safety may be relatively low. Some of the popular online wallet providers are Coinbase Wallet and Exodus.
- Offline Wallets (Hardware Wallets): These are considered the most secure form because they keep your cryptocurrency off-line and free from online vulnerabilities. Popular hardware wallet providers include Ledger and Trezor.
Further Tips on Purchasing Dash Coin
- Start Small: It’s sane to start small with some sort of investment, more so if you are new to cryptocurrency.
- Do Your Research: Keep yourself updated about Dash and the cryptocurrency market before investing in it.
- Know the Risks: Cryptocurrency is a very volatile market, and it has associated risks.
Conclusion
The following steps are going to help purchase Dash coin with success. Keep in mind that the world of cryptocurrency is rapidly changing and demands constant learning and thorough research. If you are having a secure storage solution set up and planned everything, then it is easy to buy Dash Coin.
