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Where and How to Buy Dash Coin | Step-by-Step Guide

How to Buy Dash

Dash (originally called XCoin) was launched in January 2014. As one of the world’s older and most popular cryptocurrencies, Dash has been made available to trade on a large number of cryptocurrency exchanges. In this guide, we’ll show you step-by-step how to buy Dash using the most popular purchase methods.

You can use the following links to find a guide for the method you want to buy Dash with.

Where to Buy Dash | The Exchanges We’ll Be Using

In this table, you can see the exchanges we recommend where you can buy dash.

Exchange Trading Fees Deposit Methods Verification Requirements Exchange Rating Review Visit

Binance

0.1% Cryptocurrency 2 BTC equivalent / 24 hours w/ no verification

100 BTC equivalent / 24 hours w/ "Level 2" Verifcation

4.1 Binance Review Visit Binance
bittrex altcoin exchange logo SMALL

Bittrex

0.25% Cryptocurrency .04 BTC equivalent / 24 hours w/ "Basic" verification

100 BTC equivalent / 24 hours w/ "Enhanced" Verification

3.9 Bittrex Review Visit Bittrex

Kraken

0.26% or less Cryptocurrency & Bank Transfers/Wires Strict verification, exact requirements vary by users' location. 3.6 Kraken Review Visit Kraken

If you already own cryptocurrencies like Bitcoin or Ethereum, using them is likely the easiest way to buy Dash. Below you can see the exacts steps to do this on Binance and Bittrex, two of the world’s largest cryptocurrency exchanges.

(Learn How to Buy Bitcoin and Ethereum in this Guide)

Binance

Binance is an exchange that only offers trading with cryptocurrency, meaning no USD or other fiat currencies. Using Binance to buy Dash comes with a few large benefits:

  • Easy Sign Up – Binance only requires an email address to create an account with withdrawal limits equivalent to 2 BTC / 24 hours. While these limits should be plenty for most users, you can increase your withdrawal limits to 100 BTC / 24 hours by verifying your account.
  • Very Low Fees – Binance charges a flat trading fee of just 0.1% on all orders.
  • Very Fast – You can go from creating a Binance account to withdrawing the Dash you purchase in 20 minutes or less in most cases.

To learn more about this exchange, see our full Binance Review.

1) Create Your Binance Account

The first step is to sign up for a Binance account. Registration is simple, only requiring an email address and to create a password.

Binance Sign up Register

Once you've submitted the registration form, you'll need to verify your email address. This is simply done by clicking the link Binance has emailed you.

Binance Email Sent Sign Up Confirmation

2) Secure Your Binance Account

Upon logging into your account for the first time, you'll likely be prompted to enable 2-Factor Authentication (2FA). While this is not required, it's highly recommended.

Binance 2FA Prompt

2FA helps to secure your account by requiring an additional passcode when login attempts are made.??Binance offers 2FA through the Google Authenticator App and SMS text messaging. We recommend using Google Authenticator, as SMS 2FA has known security vulnerabilities.

Once you select Google Authenticator, Binance will show you step-by-step how to set it up.

Binance Google Authenticator Set Up

You can also set up 2FA at any time from your "Account" page.

Binance Account Page

From your "Account" page, you'll also be able to submit verification documents, should you need higher withdrawal limits than the default 2 BTC equivalent per 24 hours.

3) Deposit Bitcoin or Ethereum to Binance

Locate the "Deposits" page, under "Funds" in the main menu. Here you can search for the cryptocurrency you want to deposit. We recommend Ethereum over Bitcoin, as it's faster and has lower network fees (fees from their respective networks, not Binance).

In this example, we'll be depositing 1 ETH.

Binance Deposit Ethereum Step 1

Once you've selected the cryptocurrency you want to deposit (in our case Ethereum), Binance will give you an address where you can send your deposit.

Binance Deposit Ethereum Step 2

After you've sent funds to the given address from your cryptocurrency wallet, your deposit will soon show up as pending while it completes the required number of block confirmations. For our ETH deposit, it took about 5 minutes for our deposit to be completed. Other cryptocurrencies like Bitcoin, that have longer block confirmation times, will take longer to deposit.

Binance Pending ETH Deposit New

 

Step 4) Buy Dash on Binance With Bitcoin or Ethereum

Locate the Binance exchange in the upper left-hand corner of your account’s menu (1). We recommend using the Basic version and will be using it for this demonstration.

On the right side of the exchange, choose your Dash trading pair; either Dash/BTC (to trade bitcoin for dash) or Dash/ETH (to trade Ethereum for Dash) (2). Click on your chosen pair to be brought to its trading page.

Use the “Buy Dash” order form to place your purchase order (3). We recommend using a market order. All that’s required for this order type is to enter the amount of dash you want to buy. The exchange will then automatically fill your order at the best available price.

Binance Buy Dash

 

If you placed a market order, your order will be immediately executed. You can view your newly purchased dash in your dash wallet, located on the “Deposits & Withdrawals” page of your account. Binance’s 0.1% fee is taken out of the Dash you purchased, so for this example we received 0.4995 Dash of the 0.5 Dash we purchased.

Binance Purchased Dash Balance

Buy Dash on Binance

Bittrex

Unlike Binance, Bittrex requires all users to verify their accounts to some degree before being able to place withdrawals.

  • Basic Verification requires your name, birthdate, and address. Basic verified accounts are allowed to withdraw the equivalent of 0.4 BTC / 24 hours.
  • Enhanced Verification requires a photo of a government issued ID and a selfie of you with that ID. Enhanced verified accounts can withdraw the equivalent of 100 BTC / 24 hours.

Bittrex also has higher fees than Binance, 0.25% vs 0.1%.

To learn more about this exchange, see our full Bittrex Review.

Step 1) Sign Up to Bittrex

The first Bittrex signup form only requires you to enter email address and for you to create password.

Bittrex Sign Up

Step 2) Secure Your Account With 2-Factor Authentication

Bittrex recommends all their users enable 2FA through Google Authenticator. This can be set up through the “Two-Factor Authentication” page of your account settings.

Bittrex 2FA

Step 3) Verify Your Account

Since you can’t withdrawal funds from Bittrex until your account has been verified, we recommend starting this process as soon as possible.

For basic verification, you’ll just need to fill out the following form. The information you enter will quickly be checked against public records. This will allow you to withdraw the equivalent of 0.4 BTC / 24 hours.

Bittrex Basic Verification

Enhanced verification requires you to submit a photo of a government issued ID and a selfie of you holding your ID.

Step 4) Deposit Bitcoin or Ethereum onto Bittrex

Locate the “Wallets” page of your Bittrex account in the main menu. You can use the search bar to find the cryptocurrency you want to deposit.

Once you’ve found the cryptocurrency you’re depositing, click the “+” icon and send your funds to the address Bittrex provides.

Bittrex Deposit

Like on Binance, your deposit will require a certain number of block confirmations before being fully processed.

Step 5) Buy Dash on Bittrex with Bitcoin or Ethereum

You can locate all Bittrex markets by clicking on the Bittrex logo in the top left corner of the website. Use the search bars to find the market you want to trade. In this example we’ll be using the BTC-DASH market (Bitcoin & Dash).

Bittrex Dash Markets

Unlike Binance, Bittrex does not offer market orders, so you’ll have to place a limit order.

With a limit order, you need to enter both the amount of Dash you want to buy (Units) and the maximum price you’re willing to pay per Dash (Bid).

There’s no guarantee your limit buy order will be filled, as there needs to be a seller willing to sell at your BID price. You can however cancel an unfilled order at any time and then place a new order with an adjusted BID price.

You can view what price other buyers are offering (BIDS) and what price sellers are asking for (ASKS) in the “Order Book”.

Once you’ve entered your units and bid, click “Buy Dash”.

Bittrex Buy Dash

After your order has been filled, you can view your updated Dash balance on your Bittrex account’s “Wallets” page. Here you can withdraw your Dash, by clicking on the “-“ icon.

Bittrex Dash Balance

Buy Dash on Bittrex

For most alternative cryptocurrencies (altcoins), there’s a very limited number of reputable options to buy them with fiat currency (USD, EUR, etc.). While we think the easiest way to buy dash is to trade Bitcoin or Ethereum for it, below we’ll show you how to use Kraken to buy it with a bank account.

Kraken

Kraken is one of the world’s longest operating cryptocurrency exchanges. While it’s certainly a reputable choice, it can be a pain to use at times.

If based in the United States, you’ll need to fully verify your account before being able to buy cryptocurrency.      This includes photo ID, proof of residence (utility bill), and SSN (U.S. users).

To learn more about this exchange, see our full Kraken Review.

Step 1) Sign Up on Kraken

Initially you’ll need to enter your email address, country, username, and password.

Kraken Sign Up Continued

After submitting this form, Kraken will send you an email with instructions to verify your email address.

Step 2) Secure Your Account

As mentioned in our sections for other exchanges, it’s always recommended that you enable 2-Factor Authentication on any exchange account, including Kraken.

This can be done from the “Two-Factor Authentication” page of your account, under “Security”.

Kraken 2FA

Step 3) Verify Your Account

Verification requirements will depend on the limits you require and your place of residence. You can view more information in the image below.

Kraken Account Identity Verification 1

Kraken Account Identity Verification 2

Step 4) Fund Your Kraken Account

After you’ve completed the necessary verification, it’s time to fund your account. To make a deposit, go to the “Deposit” page under “Funding” in your account menu.

Kraken allows you to deposit USD, EUR, CAD, and JPY fiat currencies.

The time it will take for your deposit to be processed varies by your location and bank. Typically, it takes from 1-5 business days.

Kraken Funding Deposit Fiat USD, EUR, JPY, CAD

The exchange also accepts cryptocurrency deposits and withdrawals, but if using another cryptocurrency to buy Dash, we recommend one of the other exchanges above.

Step 5) Buy Dash on Kraken

Once your deposit has been processed, it’s time to buy Dash on Kraken.

There are three Dash trading pairs on Kraken; “DASH/USD” (Buy w/ U.S. Dollars), “DASH/EUR” (Buy w/ Euros), and “Dash/XBT” (Buy w/ Bitcoin).

Choose the trading pair you want to trade in the drop-down menu (1). Click on “Trade” tab (2), then click “New Order” (3).

Once on the order form (4), you can choose your order type (Market or Limit). In this example we’ll be using a market order. With a market order, you only need to enter the amount of Dash you want to buy and the exchange will automatically fill your order at the best available price sellers are offering.

Once you’ve entered the amount you want to buy, click the “Buy DASH” button.

Kraken Buy Dash

Your order should be completed in just a matter of seconds. Your Kraken account balances should then reflect this purchase.

Buy Dash on Kraken

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