How To Buy Dent | Ultimate Guide To Buy DENT
Buying and holding Dent (DENT) is a potentially sound investment strategy due to the positive change in the cryptocurrency’s price trajectory in 2021. A popular mobile operator known as Dent Wireless created this token on the Ethereum blockchain and launched it in 2017.
Dent aims to create a global marketplace where people can buy and sell mobile data bandwidth without being charged extra roaming fees. The total supply is 100 billion DENT and the circulating supply as of writing is slightly above 94 billion. DENT’s price is $0.0064, as of May 2021.
So, how can you buy DENT coins online in 2021? Here is a detailed guide with all you need to know.
5 Steps to Buy Dent with eToro Now
Buying any cryptocurrency with eToro is easy, simply follow the steps below:
1Sign up for free with eToro, entering your details in the required fields.
2Fill out the questionnaire, this is both educational for you and eToro.
3Click 'Deposit', you'll then be asked how you want to fund your account.
4Choose your required payment method, follow the simple steps to link your payment.
5Enter the amount you want to deposit and you're good to go!
Our Recommended Platform to Buy Dent
We’ve designed this guide to meet the needs of expert traders and beginners alike. If you want to be equipped with complete knowledge of how and when to buy and sell Dent coins, we recommend reading the entire guide. On the other hand, if you are a pro and are ready to dive straight in, you can go straight to our recommended exchange and brokerage platforms.
Here are the top platforms that we recommend:
Where to Buy Dent in 2021
Purchasing and holding Dent coins is one of the most popular ways of profiting from the token. However, if you are well informed, you can trade on the token’s price movement through various contracts, especially Contracts for Difference (CFD). If you choose these strategies based on your in-depth knowledge of the cryptocurrency market, DENT itself, and your economic situation, you increase your chances of success.
Buying and holding the token is relatively easy. You start by assessing your investment priorities. Once you are done, you can choose to invest either short or mid-term and then look for the right exchange. These platforms offer traders the opportunity to access plenty of coins under one roof.
More importantly, they feature secure built-in wallets that you can use to store the coins. Please note that these are hot wallets, so you should ensure the company uses the right security protocols. Besides, to mitigate security risks, you should store the coins in these wallets for a short duration.
If you want to store your Dent coins in a more secure place, you can withdraw them to your private wallet. This is often optional and only applies if the risk involved is high.
If you want to trade on DENT price’s movements, you can create contracts with credible DENT brokerages. Experienced traders work with these platforms whenever they intend to enter into CFDs. These contracts ensure that the seller or the buyer cash settles the differences between the opening and closing Dent prices, without having to handle the Dent tokens themselves.
How to Buy Dent with a Broker
Once you’ve chosen your investment strategy and decided to work with a broker, it’s time to select the right one. Remember, you can find plenty of online cryptocurrency brokers in no time. However, it might take you some time to find the right one. To avoid making a mistake at this point, you should consider factors as such compliance with regulatory requirements, the efficiency of security protocols, the cost of service, and the broker’s history. After finding the right DENT broker, you can follow the steps below to purchase the tokens.
1. Register with the Broker
The typical signup process is straightforward, so you don’t need any expertise. You’ll be required to provide your personal information. Due to security reasons, you will most likely be required to verify your identity. Please note that the registration process differs slightly depending on your chosen brokerage platform. Let’s use Pepperstone and Forex.com to illustrate this.
To register with Pepperstone, you click Get Started and then provide your email. You click Get Started again. You’ll be required to verify the email and provide your personal information and identity documents. Once the account is approved, you can buy DENT and get started.
If you choose Forex.com, you start by clicking Open an Account. After that, click Open a Forex.Com Account. From there, you provide your personal information, contact details, and identification documents.
Brokers typically take less than 24 hours to check registration applications and respond.
2. Verify your Identity (KYC Process)
Due to the unprecedented increase in security incidents in the cryptocurrency industry, financial regulators require brokers to abide by the KYC process during registration.
Know Your Customer (KYC) helps to protect brokerage platforms. In other words, while the process may appear tedious, it is necessary for the safety of your Dent coins. The process is also essential for the widespread adoption of DENT and other digital assets and helps to dispel the misconception that cryptocurrencies are only useful for criminal activities.
3. Deposit Funds with your Preferred Payment Method
Now that you are happy with your choice of brokerage platform and are ready to get started, you should focus on selecting the most helpful payment method. Most of them are secure, but that shouldn’t hinder you from performing independent research to verify whether that’s the case.
Other important factors that can help you to make the right decision are:
Most people pay more attention to cost than any of the above considerations and end up making blunders. It’s okay to choose a costly service if it gives you peace of mind and protects your investment. However, you can’t sacrifice speed. The price of Dent keeps fluctuating all the time, and you can take advantage of that if the speed is fast enough. In 2020, financial advisors encouraged investors to stay away from Dent coins. However, due to the current changes, they are doing the opposite. The point is, your ability to take advantage of major and slight fluctuations at the right time can mean the difference between your failure and success.
4. Open a Position to Long/Short Dent
It would be best if you chose to be either a bear or a bull. The term “bull” refers to investors who have faith in DENT and can wait for a long period for its value to increase. They often reap higher profits. For example, the bulls who bought and held the coin in early 2020 can now sell it at a high price and make reasonable profits.
The “bear” is a short term trader and will enter into a short trade. “Shorting” DENT means betting that its price will decrease, and while shorting can be a technical and involved process, broker platforms can greatly simplify the process using CFD contracts.
As you can see, you need to understand the difference between long and short trading to choose a strategy that suits you best at any given time. Besides, if you are trading through Forex.com or any other online broker, you should set your risk management limits, such as stop-loss and take-profit settings. You may also need to withdraw your funds from the brokerage to your private wallet when the level of risks increases beyond your pre-set limit.
5. Close your Position
When you make the best use of stop-loss and take-profit settings, your investment is at least partly secured. This is an automated feature that will close trades when they reach certain price levels, either locking in profits or preventing untenable losses. However, these settings can’t guarantee you profits. You may need to close the trade earlier than planned when you are happy with your profits or can’t afford further losses.
How to Buy Dent with an Exchange
As already mentioned, if you want to hold your Dent for a long period, a cryptocurrency exchange can benefit you. Investors who want to support the crypto project and believe in its prospects can fall under this category, purchasing and holding the actual tokens themselves.
Experienced traders understand that their success relies on their ability to choose the right exchanges. One of the most important things that they consider is regulation. Exchanges that abide by regulatory standards are safe. They also consider other security-related factors. Some exchanges have added security layers that guarantee users an improved experience.
It would help if you also looked for an exchange that offers competitive rates. If you can get the value for your money, you can consider the offer justifiable, whether it’s a little more costly or not.
Once you’ve found the exchange that meets your needs, you can follow these steps to buy DENT securely with the platform:
1. Set up a Dent Wallet
There are several types of cryptocurrency wallets that you can use to store DENT. When deciding on which of them to use, consider your purpose and your trading strategy. The amount of coins you want to store in the wallet also matters.
Here are the main types of wallets that you can use and what sets them apart from each other:
- Exchange/Online wallets: These are web-based wallets that are compatible with DENT. In the past, many of them were exposed to cyber-attacks. That must have changed slightly today since many exchanges use advanced security measures to protect their websites. They store the account information in the cloud and use other wallets to store the tokens offline. However, it would be best if you still take precaution when using them.
- Desktop/Mobile wallets: These are apps that users install on their computers and smartphones. They come with private keys that prevent strangers from accessing your tokens.
- Cold wallets: These are the most secure DENT wallets since they store the crypto in an offline environment. Some traders refer to them as hardware wallets. You can find hardware wallets with advanced security layers. However, unlike the first two options, you have to spend some money to acquire them.
2. Choose and Join an Exchange that Offers Dent
As we saw earlier, there are currently many exchanges out there that you can choose from whenever you want to buy DENT. However, you need the best one. Some of the leading exchanges that you can consider include Binance, Okex, and Kucoin. Remember that you should do due diligence before choosing any exchange and confirm whether they suit your needs.
Start by considering the registration process. If the exchange observes regulatory standards, they’ll require your identification requirements. However, the process and the type of documents required may vary slightly. Go forward knowing that all exchanges are not created equal.
3. Choose Your Payment Method for Buying Dent
Since you want to purchase Dent, you need a suitable payment method. From experience, credit and debit cards are exceptional options. They are secure, efficient, and fast. However, it might cost you slightly more if you use either of these methods. If you have the two cards, you can opt to use a debit card since they are relatively cheaper.
You can also make direct bank transfers, which involves adding your bank account particulars to the exchange account. This method can enable you to buy DENT using fiat currency with ease. Unlike credit cards, it can’t serve you when you don’t have cash to hand, as it relies solely on your bank balance, not a credit line.
The use of Bitcoin and other leading cryptos to buy Dent is also on the increase. Your exchange likely allows this. If so, you have an opportunity to take advantage of all the benefits that the cryptocurrency industry offers. Nevertheless, the volatility of your payment currency can have an impact on your earnings.
4. Place an Order to Buy DENT
As already mentioned, some exchanges allow you to trade Dent from fiat currencies such as USD, EUR, IRN, CAD, and more. You can also trade it from cryptos like BTC, LTC, NEO, ETH, USDT, and more. So, before you place an order, check out whether you need to buy any of these coins to get your tokens. Also, ensure you know the fiat currencies that the exchange accepts.
5. Safely Storing Your Dent in a Wallet
Most modern exchange wallets are highly secure, so transferring DENT to a private cryptocurrency wallet is optional. However, you can use this method if you intend to trade your tokens on a long-term basis. Most exchanges charge a fee for withdrawing your cryptos. So, you can do the cost-benefit analysis before making up your mind that you intend to trade on a short-term basis. The process of withdrawing and redepositing the funds could be too costly.
Should You Buy or Trade Dent?
Contrary to the opinion of most beginners, buying and trading Dent are different investing concepts.
The process of trading the token through brokerage platforms is also different from trading through cryptocurrency exchanges. To be a successful DENT investor, you should understand the specific differences.
What’s the Difference Between a Dent Exchange and a Broker?
Exchanges offer a wide range of cryptocurrencies, including Bitcoin. So, you can see them as platforms where you can conveniently exchange your coins and tokens for DENT with ease. If you consider Binance, it can facilitate trade between more than 300 cryptos. Moreover, these platforms have built-in wallets where you can conveniently store your digital currency during the trade.
An online crypto broker refers to a platform that allows short-term traders to purchase a few coins. You can trade with or without leverage, the latter being the best option for beginners joining any brokerage platform. It limits the amount of money you might lose if the market forces don’t work in your favour.
Dent: Long Vs Short Term Investment
We stated in the beginning that long-term investment is highly suitable for investors who believe that DENT’s price will increase significantly after several months or years.
Individuals who have a vested interest in the token’s success can also opt for the long-term strategy. Often, these investors get huge returns since they are prepared to wait for a long period for Dent’s value to hit their target. Nonetheless, due to the high volatility of the cryptocurrency industry, this strategy doesn’t guarantee you maximum rewards. Even expert long-term traders who opt for this method can make huge losses. Your knowledge of the market and the ability to predict future prices accurately is vital here.
The short-term investment option suits beginners and anyone else who intends to trade on the short-term price movements. Like the other strategy, there’s no guarantee that the fall and rise of Dent within the next few hours, days, weeks, and months will allow you to make adequate income.
However, if you are ready to take advantage of any minor price swings, it can serve your needs. Moreover, this strategy is the best for individuals who don’t want to spend a lot of time setting up costly DENT wallets. You can use any private software wallets without any problem.
3 Tips to Buy Dent
Now that you are almost ready to start buying Dent, you should look for important tips that will boost your success fast. Many beginners ignore them and end up making costly mistakes. Find the most important ones below.
1. Choose the Right Time and Do Your Research on Dent
Almost everyone claims to be an expert on this subject. You can find beginners with no practical experience trying to lecture expert traders on buying this coin and investing in it. One may easily mistake some of them for the real deal due to factors such as their presentation skills. We are saying here that you should make your decision on the right time to invest based on in-depth research, not just listening to anybody you find online.
When you rely on plenty of credible sources of information and go where the evidence leads, you’ll minimise the chances of making mistakes.
2. Compare Costs to Buy Dent
Since brokers and exchanges charge different prices, comparing the costs could help you to save a lot of money. These platforms are in the business of making money, so they will entice you to accept their offer. Some expensive ones can even try to mislead you to believe that they are the most affordable. Others charge hidden costs on top of the standard service fee. You need to bear these strategies in mind as you compare the prices.
3. Safety and Security when Buying Dent
There is no doubt we’ve talked about safety and security several times throughout this guide. It’s worth the effort. This is a major issue that has prompted the leading financial regulators to step into the crypto market with a host of measures to restore sanity. So, before you commit to buy Dent, be sure the exchange or broker is secure and has an excellent record for protecting user data and their investments.
What is the Best Payment Method for Buying Dent?
- Buy Dent with Cash: DENT ATMs are the best choice if you want to buy the coin with cash
- Buy Dent with Credit Card: Credit cards can be a little costly but ensure you get timely service
- Buy Dent with Bank Transfer: A cheap and convenient option
- Buy DENT with Bitcoin: This is a wonderful option for traders who own BTC and would like to use it for the purpose of buying DENT
- Buy Dent with PayPal: Even though Paypal is not available in some countries, most expert Dent traders regard it as a fast and convenient option
Other Ways to Buy Dent
Now you know how to purchase DENT and can use more than one method to do so. Credit card, bank transfer, cash, and Bitcoin are some of the popular methods. You can use your debit card and a wide range of cryptos as well.
Once you select the right brokerage platform or exchange, you are ready to get started. If you don’t want to buy the coin for any reason, you can earn it. According to Dent Wireless, you can collect daily rewards on the network for free. You can also earn the coins for playing online games or inviting friends to join the long list of DENT users.
Now you can buy Dent, or earn it, and start your investment journey. As long as your decision on when to get started is based on a clear understanding of the cryptocurrency market, DENT, and your needs, you can buy the tokens right away and use any of the strategies we’ve discussed here to start making money.
Frequently Asked Questions
No, though you can buy the coins at any time, you should base your decision on sound financial analysis. If you have spare money, find out the potential future price of DENT and evaluate your preparedness to manage risks before buying and investing in the token.
Not necessarily: it depends on you. If you choose to wait, it might take a while since the price would need to increase by about 5,000 per cent to reach that point. With the current increase in value, perhaps it could take a short time. Overall, you could decide to wait if your research leads you in that direction.
No, that might be a huge risk to bear. Dent is an ERC-20 token, which means it uses the Ethereum blockchain to secure its blockchain. TRC-20 tokens use the TRON network. Choose a wallet that is compatible with DENT.
Yes, you can turn to Binance, Uniswap, and others. However, some of them, like Gemini and Coinbase, won’t help you in this case.
Leading regulators have discovered that some criminals take advantage of the lack of KYC to compromise the security of brokerages and exchanges. So, the process helps to secure your coins and set the stage for the widespread adoption of Dent.