How to Buy Dash – The Complete Guide

Dash is one of the most recognizable cryptocurrencies in the entire market. Developed almost 4 years ago, Dash has roared up in value to its present price of $853, $6.61 Billion market cap! That’s impressive by any cryptocurrency standards, but Dash continues to impress with its ramifications for privacy, deflation, and speed.

You can trade Dash CFDs on AVATrade, our go-to market for CFDs and Forex. You can also buy to own at a variety of trusted exchanges available to crypto fanatics around the world. With money pouring into the crypto markets, you can expect Dash to continue its upward trajectory. We just hope it’s not too late to get in!

What is Dash Coin?

Investing in Dash

Dash has a real claim to being an update on Bitcoin’s classic technology. In fact, it’s a hard fork of Bitcoin itself. This means that Dash more or less cloned the Bitcoin software back in January 2014 (under the name Darkcoin), then made its own updates. Like Bitcoin, before you can buy Dash in must first be mined, but the core developers have added some important features that make Dash a little more agile and interesting than ol’ Bitcoin.

  • For one, Dash is open source. Anybody can audit the code and understand how it works, providing they’re willing to learn. Another example, and this is a big one, is that you can trade Dash with Instant Transactions. This functionality is something Bitcoin could only wish for given its recent problems with unconfirmed and slow transactions.
  • Additionally, you can trade Dash with near-complete privacy. The privacy doesn’t extend to the recipient of any transaction, but the person sending the money can be completely anonymous. Privacy coins like Monero and especially ZCash (and soon with Ethereum’s ZKSnarks) up the ante on privacy considerably, but buying Dash anonymously works for most people for most purposes where you wouldn’t want your transaction recorded in a public ledger forever.
  • Finally, Dash uses “Master Nodes” in the confirmation of transactions, to help govern the entire system, and perform other useful functions. It takes 1000+ Dash stakes in a master node for it to be activated, and a master node owner can lose all of their money if they become hostile actors in the system.

There’s more to dig into if you like. Dash has spent a lot of marketing dollars to build its community, so there are people out there in the forums who can take you much deeper into this remarkable technology than we can in this guide. We’ll leave you to do that homework yourself. For our purposes, we’re going to talk about how to buy Dash and trade Dash in two distinct ways, for two distinct purposes: CFD and traditional ownership.

How to Buy Dash

If you’re still reading, you are probably interested in investing in Dash of your own. There are a number of ways for people all around to invest in Dash and the profits thereof, but there are only going to be more as more money pours into crypto and buy coins like Dash because of their excellent technology.

We’ll show you how to trade Dash before it becomes so simple that everyone starts doing it and the price goes through the roof. If you choose to invest in Dash conventionally, you’ll have to spend a lot of money on coins ($850 a pop) to get a portfolio large enough to yield meaningful profits. This is great for some people, but is usually impossible for beginning investors who aren’t already very wealthy.

CFDs on the other hand give you access to all of the profit potential of investing in Dash coins, for pennies on the dollar. AVATrade lets you leverage your account balance up to 20:1. The future value of the coins you put your stake into will determine your eventual profit or loss. Losses can be great with CFDs, so this form is not without risk, but losses are also a huge risk of ownership.

All in all, we think CFDs just work a little better for our customers. You’re able to liquidate your earnings much faster than with real cryptocurrencies, and you can start up with a much smaller investment. Still, we’ll cover both options below and allow you to make your own choice.

Investing in Dash With CFDs

Trade Dash CFD

CFDs are short for “contracts for difference”. The “Difference” in the name is the difference between the price of buying Dash when you initiated your contract, and the price of buying Dash when the contract expires (you’ll choose the expiration time).

If you “go long” on Dash with your contract, you’ll be betting that the price will have increased when your contract’s time period runs out. If the price did rise, you would get earnings in proportion to how much you invested and how much the price actually changed.

“Going short” on Dash is exactly the opposite. You predict that the price is going to fall by the end of your contract’s time period. If the price does indeed fall, you’ll earn money in proportion to the price change and your original investment.
Losses are incurred when you guess that the price is going to change in one direction, and it actually goes the other. In this case, you’ll lose the money locked away in the contract (or as much as is needed to cover the losses). Additional losses from you main balance could also be paid.

The main difference between CFDs and traditional ownership is leverage. With AVATrade, you can leverage up to 20x, giving you access to the profits of 20x the Dash coins that you could afford if you were to buy them one by one. If you are an intelligent trader, this is a much faster way to grow your wealth than traditional ownership, though the time restriction does require you to “aim at a smaller target” than you would if you owned coins which you could sell at any time of your choosing.

How to Buy Dash on AVATrade – Step-by-Step Guide

There is no more trusted name than AVATrade for CFDs and Forex trading. They have a wide variety of stocks and currency pairs. They also allow clients to trade against the price volatility of cryptocurrencies like NEO, Litecoin, Monero, and Bitcoin Cash.

Setting up an account will take just a few minutes. Then all you have to do is fund it and start trading. We’ll talk through each action you need to take, every step of the way.

If you’re not ready for a full trading account, an AVATrade demo account is a great way to learn the ropes without risking your money. You’ll use play money to make trades against real-world data, giving you the chance to see the results of your decisions and decide using CFD to trade Dash is for you.

Trade Dash CFD

  • Step 1: Start by heading over to www.avatrade.com. Click on “Trade Bitcoin now”. At this point you can decide to “Practice Bitcoin Trading” to use play money as you learn the system, or you can dive right into the deep end and start trading for profit!

Trade Dash CFD

  • Step 2: AVATrade is going to ask you for some simple information. You can quickly jump past this screen by directly linking your Google+ or Facebook account.

trade Dash CFD

  • Step 3: Congratulations! Your new account is born. Click on “Web Trading” or download the Windows app to your PC. Additionally, you can use the simple, powerful, and intuitive mobile apps available for iPhone and Android. We’re using screenshots from the Web Trading portal for this guide, which looks almost exactly like the other options. Just sayin’.

Trade Dash CFD

  • Step 4: AVATrade will give you some login credentials. Note these carefully and input them when requested.

trade Dash CFD

  • Step 5: Note the white space in the lower left corner of the screen, right above the “symbols” tab. Right click here and select “Symbols” from the menu that pops up.

trade Dash CFD

  • Step 6: Select “CFD Crypto”, the click on the folder titled “DASH”. This takes you to the trading Dash screen. Once you’ve funded your account, you’re all ready to trade.

Funding Your AVATrade Account

Putting money into your AVATrading account so that you can start using CFDs for investing in Dash is easy. AVATrade accepts Mastercard, VISA, and wire transfer for deposits that will get your trading account into full operation. The credit card options allow deposits of $100 or more, though your account needs $250 to activate. The wire transfer option won’t accept sums of less than $500. They’ll also take 304 business days to complete. 

Buying Dash Coins for Your Software or Hardware Wallet

You can profit from CFDs without ever buying Dash coin. Leveraged CFD trading makes this form much cheaper to start out with. CFD traders also don’t have to keep track of a diverse portfolio, pay transaction fees, suffer long waits moving the coins around, or face the constant threat of losing their coins forever!

We like CFDs for their simplicity and power, but ownership does offer some flexibility that CFDs lack, such as the option to sell your coins whenever you want, not just when your CFD term expires. What’s more, American customers aren’t even allowed to participate in CFD trading (!), so we’ve got to highlight this other option.

It’s important to note that after you buy Dash, coins can be stored in a number of ways. Generally speaking it’s not a good idea to hold your coins on an exchange wallet, because exchanges sometimes get hacked. Instead, use a software wallet like Exodus which supports multiple currencies other than Dash. You could also buy a hardware wallet like the Ledger Nano S. This is currently the safest way to store your coins after you buy Dash. For anyone investing in Dash in large amounts, this may be a good thing to buy.

Dash is one of the most popular cryptocurrencies in the world, and is available on a number of regional and international exchanges (HitBtc, Bitthumb, Bittrex, Poloniex, Kraken, etc., etc. etc.). We’re going to focus on buying through Hong Kong-based Binance, because it’s a great new exchange adding coins all the time, with its own useful currency, and will eventually become fully decentralized. You can buy Dash wherever you like, of course.

Can you Buy Dash on Coinbase

Coinbase is a very popular exchange that allows you to buy cryptocurrencies directly using fiat currency. With Dash being so high in the market cap table it is unsurprising when people expect to see it on Coinbase but unfortunately Coinbase do not offer it on their platform.

They are increasing the number of coins on their platform but this is a very steady procedure. Currently there is no talk of dash being added to Coinbase but that is not to say it won’t happen. Make sure to keep an eye out in the future.

You can buy bitcoin, ethereum, litecoin and bitcoin cash on there and trade any of those for Dash on an exchange but until it is added there is no direct method using fiat currency.

Buying Dash on Binance

Binance is a Chinese crypto exchange based in Hong Kong. “But wait”, you exclaim, “didn’t China ban crypto exchanges?” You’re absolutely correct Rupert, how fast you learn. However, because of Hong Kong’s semi-independent status, Binance has remained open, and has actually expanded its reach internationally, offering more coins to more people around the world every week.

One cool feature of Binance is that it offers its own currency: BNB. BNB has its own fluctuating market value, and its primary function is to pay for trading fees on Binance. People who use BNB get steep discounts on trading fees. Assuming Binance keeps growing BNB will grow in value. Binance also destroys BNB on a regular schedule, millions at a time, so this will also likely cause BNB’s price to rise.

On to the trading!

Invest in Dash

  • Step 1: Stir yourself over to www.Binance.com and create an account just like you’ve done dozens of times in your internet career.

Invest in Dash

  • Step 2: Complete one or two of Binance’s cheeky little CAPTCHAs.

Invest in Dash

  • Step 3: Check your email for a verification link. Click it when it arrives. In our experience, it takes several minutes for the confirmation email to arrive. Make yourself a sandwich.

Invest in Dash

  • Step 4: Here, Binance will require you to activate “2 Factor Authentication” to activate your account. You should really be doing this with all of your financial accounts so hackers can’t hack away your money or personal identity. Download the Google Authenticator App linked on the page, scan the QR code, input in the space to the right of the screen the resulting code that pops up on your phone. Congratulations! You’re ready to trade.

Invest in Dash

  • Step 5: Click “Funds” and “Deposits Withdrawals”. Here, you’ll have to deposit a coin like Ethereum that you have in another wallet somewhere else. You’ll need Ethereum (or Bitcoin) to buy Dash. Deposit these coins (perhaps from Coinbase) into these Binance wallets, using the addresses that pop up when you click “Deposit”. Completing a deposit will take several minutes or more. Have a second sandwich.

Invest in Dash

  • Step 6: Select “Exchanges” at the top of the screen and click on “Basic”. This will lead you to a screen with lots of trading pairs. Click the “ETH” tab in the upper right of the screen. This will show you all of the coins that trade against Ethereum on Binance. Select “DASH/ETH”. This will take you to the Dash-specific trading screen. Invest in Dash
  •  Step 7: Now you’re ready to start buying Dash. You’ll have 3 order types to choose from: Limit, Stop-Limit, and Market. Limit orders set the price at which you want to begin buying Dash, whenever it happens to rise or fall in value to your selected level. Stop-Limit orders do the same, but also insulates you against wild market fluctuations that might commit you to trades you didn’t anticipate. Market orders let you trade Dash at its current price, whatever that happens to be. You can select anywhere from 25%-100% of your deposited Ethereum to starting trading Dash, or you can input a different value. When you’re ready, click “Buy Dash” and follow the prompts and confirmations. When the order is complete, you’ve got your very own Dash to have and to hodl. Store you Dash in a secure wallet like Exodus and keep them or trade them as you desire.

Conclusion

By now you know what Dash is, how to trade Dash for profit with CFDs, and how to buy Dash on Binance. We hope your foray into the world of Dash trading is fun and very profitable. We think Dash remains one of the most promising cash crypto coins, with a real possibility of de-throning Bitcoin. It’s network is fast, somewhat anonymous, and secure. Additional features instituted after its hard fork from Bitcoin make it scalable and more able to handle future market forces. Good luck trading Dash!

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