What is Dash?

Dash is an open source digital currency based on the Bitcoin protocol that features several improvements over the original protocol. These advanced capabilities include near instant transactions (InstantSend), private transactions (PrivateSend) and a decentralized governance structure with a built-in voting procedure to accelerate decision making. Dash's decentralized governance and budgeting system makes it the second decentralized autonomous organization.

How to buy Dash?

You can buy Dash on by opening an account on a cryptocurrency marketplaces like exchanges and broker services. Usually, you will additionally be required to verify your identity with a marketplace, e.g. by uploading identity documents like your passport. You may also need to setup a Dash wallet to store your Dash in case the chosen marketplace does not offer one natively on their platform. The account creation, identity verification and payment processes can take from few minutes to several weeks.

Where to buy Dash?

There are different kinds of cryptocurrency marketplaces.

Exchanges resemble traditional stock exchanges such as the New York Stock Exchange (NYSE). When you buy Dash on a cryptocurrency exchange, you trade directly with other traders, yet without any personal contact to these. To make this work, cryptocurrency exchanges have a matchmaking algorithm in place which determines the price of Dash and finds sellers for your order. Due to their advanced trading features that are tailored towards the needs of professional traders, cryptocurrency exchanges can be a bit hard-to-use and confusing for beginners.

Brokers, by contrast, sell Dash out of their own asset stock. This means that when you buy Dash from a broker, there is no transaction with other traders, but the broker service. Cryptocurrency brokers often charge a higher fee than cryptocurrency exchanges, whilst offing a better user experience and more payment methods than cryptocurrency exchanges.

Lastly, peer-to-peer (P2P) directories are platforms where you can trade Dash directly with other traders. However, it is more risky to buy Dash on a P2P directory due to the lack of a third party.

What to consider when buying Dash

This leaves us with the question: “What’s the best marketplace for you?” Well, you’ve come to the right place: Cryptoradar lists popular places to buy Dash from all around the globe. Simply use our filters to find a marketplace that meets your requirements.

Verification: Most marketplaces require you to verify your verification and your permanent residence. This can usually be done by uploading a copy of your passport and a recent utility bill. The verification process can take anywhere from few minutes to several weeks.

Wallet Service: A Dash wallet is an app or hardware device where you can store your Dash. We recommend newbies to choose a marketplace that provides a built-in wallet service. However, note that it is usually the safer option to manage your wallet yourself - even though it requires some learning. Find more information about different types of wallets here.

Prices & Fees: The price of Dash is determined by supply and demand, i.e. it is based on the number of people willing to sell and buy. While cryptocurrency exchanges determine the prices on their platform, broker services align their prices on the current prices of the major exchanges, but usually charge a markup and fees for their services. In addition to trading fees, there may be fees to deposit and withdraw fiat currencies or Dash.

Payment method: Before you can buy Dash you need to send fiat money to a marketplace. Most exchanges only offer wire transfer, while broker services often offer a larger number of payment methods such as credit cards or Skrill for an additional fee.

Security: Security is an important factor when trading cryptocurrency. Cryptoradar helps you filter marketplaces for security features. We also advise you not to store significant amounts of fiat or cryptocurrencies on marketplaces as they may be subject to cyber attacks.

When to buy Dash?

Is now a good time to buy Dash? We don’t know. However, if you are looking at a specific price at which you would like to buy Dash, we can help you to not miss a favourable opportunity: Sign up for a Cryptoradar account and set up a price alert to get notified when Dash trades below or above your target price.