Dash Coin is an open-source Blockchain cryptocurrency that is created with the vision to provide more improved technology. DASH tokens are introduced upon the Bitcoin infrastructure that provides faster and affordable transactions on its network. These tokens offer an enhanced level of security as it has improvised technology such as ChainLocks. This token has a Private Send feature for a greater level of security to send the money.
This guide is dedicated to DASH tokens. If you are exploring this coin then you are in right place. Here you will get to know everything about DASH token.
How to buy DASH tokens via CEX.io
Follow these steps to buy DASH via CEX.io-
- Get a DASH wallet (Ledger Nano X, Edge)
- Find your Dash address
- Sign up to CEX.io
- Buy Dash via your broker
- Withdraw your Dash coins
- Transfer the coins to the wallet
Where to buy Dash coins?
eToro is the online crypto broker that allows you to buy, sell, and trade Dash tokens. This broker engraves the profit movement by getting the momentum through price changes. It gives access to Dash token; it is quite easy to withdraw these tokens from this exchange.
Binance is the cryptocurrency exchange that also accepts fiat money through credit cards and debit cards. This crypto exchange imposes high fees in comparison to other exchanges. Here you can buy the tokens through fiat money also.
BitPanda is a crypto exchange that only available in Europe only. It offers brokerage services; it directly sells Dash coins for a premium. Here you can buy the coins visa credit card, SEPA transfer, SOFORT transfer, or e-wallet.
CEX.io was established in 2013, it is one of the oldest crypto brokerage companies. Here you can directly buy Dash coins by opening the account. You can place different types of orders on this online brokerage.
Also Read: How to Buy RatCoin (RAT) Coin?
How to buy Dash coins- Step-by-step guide
It is very easy to buy Dash coins. To buy the cryptocurrencies from an exchange you have to first open an account with an online crypto broker. Before this, you have to choose the crypto broker that offers Dash coins. Several crypto brokerages are available online, these brokers offer all the top cryptocurrencies in the world. Coinbase, eToro, Binance, Voyager, and Gemini are some popular crypto brokerages that are offering an excellent platform to traders for trading. To open the account with the crypto brokerage you have to visit the site and register yourself to open account. You are also needed to buy a wallet for storing the coin. Once you opened both the accounts you can place the order for buying Dash tokens. One has to follow these steps to buy DASH coins-
Step 1: Opening Account with Online Crypto Broker
To buy DASH tokens you are needed to create an account with an online broker. Before this, you have to choose the crypto broker that offers Dash coins. DASH tokens are available on all the top crypto brokers in the industry. Several crypto brokerages are available online, these brokers offer all the top cryptocurrencies in the world. Coinbase, eToro, Binance, Voyager, and Gemini are some popular crypto brokerages that are offering an excellent platform to traders for trading. You can open an account with any of these online crypto brokers as per your preferences. These crypto brokers work in the same way like stockbrokers do. These crypto brokers execute the transactions on the instructions of the broker and for this, they charge some fee or commission.
Before choosing the crypto broker you have to consider some crucial points like accessibility on the platform, fee or commission, trading platform, and other assets. Some crypto broker charges high fee while some crypto broker charges low fees, you can choose the broker as per your budget.
Once you choose the online crypto broker you have to visit the site of that broker to open the account. First, visit the site of the broker then sign up to create the account. Register your email id and create a username and password. Always create a strong password that can’t be decoded easily. After this, you have to fill the registration form where you have to furnish your basic information including your name, address, phone number, social security number, DOB, and government ID proof. It will verify your information and check the authenticity before activating the account. It has a two-factor verification system.
Step 2: Get a wallet
Once you open the account with an online crypto broker now is the time to get a crypto wallet to store the coins. Crypto wallets are digital programs or physical devices that are used to store cryptocurrency. Crypto wallets are e-wallets that are available electronically; these wallets are created after joining the source code. These wallets follow the advanced security mechanism to keep the coins with security. E-wallets are secured with two keys names private keys and public keys. If you have already a wallet that supports DASH coins then you are not needed to open the new wallet otherwise you have to get the wallet that supports the DASH token.
Though crypto exchanges offer the wallet on the platform to store the tokens it is not safe to leave the coins on the portal. If you leave the coins on the portal then they may be stolen by scammers. It is not advisable to take the risk and leave the coins in an exchange wallet. Scammers can easily trace the location on the exchange. So the trader must transfer the coins to the e-wallet for better security. If you are buying DASH tokens for day trading then you are not needed to get the wallet but if you are buying coins for a long duration then it is best to keep the coins in the digital wallet.
There are two types of crypto wallets- Hot wallet and Cold wallet
Hot Wallet- Hot wallets are also known as software wallets. These wallets are available in mobile applications or computer programs that require internet access. To access these wallets you are needed an internet connection. These wallets are free and support almost all crypto coins. These are less secure in comparison to cold wallets.
Cold Wallet- Cold wallets are nothing but physical devices that are used to store your coins. No internet connection is required to access these wallets. These wallets do not come in free, these wallets hold some cost. These wallets have advanced and intelligent security features that safeguard the coins with the highest security levels. You can access these wallets easily by connecting your devices with the system.
A hardware wallet or cold wallet is a more secured wallet, you can buy these wallets to store your DASH tokens.
Step 3: Place the order
Once you get the crypto brokerage account and crypto wallet you can log in again on the crypto brokerage site and do the funding in your account. You can deposit the existing cryptocurrency well as you can deposit the fiat money in the account. It depends on the brokerage you choose some accepts deposit in fiat money while some brokers don’t accept fiat money. Once the funding is completed you are all set to buy the first DASH token. You can place the order in the trading room and the broker will execute the transaction on your recommendations.
There are multiple types of orders in the trading room; you can select the order as per your preferences. You can dictate the order type that you choose to the broker.
You can place the market price that is called a market order as well as a limit order. If you want to buy the token at the current market price then instruct the broker to buy at market price and the broker will do the same. If you want to buy the token at fewer prices then you can place the limit order where you have to specify your limit to place the order. The broker will execute the transaction once the prices will reach your prescribed limit.
Trade or sell the DASH token
Once the order is executed the tokens will be reflected in the balances, you can check the balances. Now you have to decide what you want to do with your tokens. Either you have purchased it for the long term or short term. If you want to hold the coins for a long duration then you should transfer your coins to the e-wallet. If you are buying DASH tokens for day trading then you are not needed to get the wallet but if you are buying coins for a long duration then it is best to keep the coins in the digital wallet.
But if you are buying tokens for sell purposes then you can monetize the short-term price movement throughout a week. If you plan to trade the tokens then you can choose the broker that is more reliable and responsive to your request.
What are the benefits of buying the DASH token?
There are several reasons to invest in crypto coins like DASH tokens because it helps you to achieve financial freedom and there is no regulation and central authority to regulate these coins. You can save taxes by investing in cryptocurrencies. It is quite feasible to put your money in the form of digital currency as the market is seeing the innovation.
- The dash token is referred to as one of the most private cryptocurrencies.
- The transaction execution speed of this coin is very fast.
- The anonymous transaction means your transaction will remain private and cannot be seen by anyone.
- It provides financial freedom to the trader.
- It is referred to as the most secured coin as it provides high-end securities.