Planning to invest in DASH asset? Well, cryptocurrency investment is essential to greater success. We’ve made it easy with our complete guide on how to buy Dash in the UK.
The cryptocurrency industry has blossomed within the past year, as several tokens have skyrocketed in price. Crypto assets like Dash have become very popular within the industry, and its demand has surged as well. DASH aims to make digital assets more usable. It is designed to improve privacy and increase transaction speed.
If you’re looking to buy cryptocurrency, we are here to help you. The following is a complete guide for buying, storing, and selling the DASH token in the UK.
What's in This Guide?
- QUICK GUIDE: HOW TO BUY DASH IN THE UK
- A Step-By-Step Guide To Buying DASH
- How To Sell Dash
- Which Wallets Can I Use To Hold DASH?
- How Dash Works
- Key Things To Consider Before Buying DASH In The UK
QUICK GUIDE: HOW TO BUY DASH IN THE UK
- Open an account with a cryptocurrency exchange.
- Verify your account.
- Go to the deposit section
- Go to the platform and select DASH.
- Enter how many DASH coins you want to buy.
- Check the details and confirm your purchase.
A Step-By-Step Guide To Buying DASH
Step 1: Sign up with a regulated exchange
The first thing you have to do is to search for a cryptocurrency exchange that accepts the buying and selling of the DASH crypto asset. There are several of them in the UK you can choose from.
Some of them list DASH in different currency pairings such as DASH/GBP or DASH/USD. If you are in the UK, the obvious choice for you is the GBP pairing. Make sure you compare each exchange and see their benefits and disadvantages before picking your option.
After selecting one, your next step is to register with the exchange by signing up for an account by entering some details like your email address and a strong password.
In some exchanges, you don’t necessarily have to provide any further details. However, most exchanges in the UK require certain personal details to fulfill the Know Your Customer (KYC) rules.
You will be asked to provide your full name, a photo ID, and possibly your employment info. If you are okay with this, you will successfully create an account after providing such details.
For more security on your account, it’s necessary to enable two-factor authentication (2-FA) on your exchange account.
Step 2. Deposit funds into your account
After creating an account with the exchange, the next step is to link your bank account to the exchange platform to enable you to buy DASH with your fiat currency.
If you have chosen an exchange that doesn’t allow you to buy DASH directly from your fiat currency, you will need to buy a cryptocurrency that is paired with DASH, such as Bitcoin (BTC) or Ethereum (ETH).
Afterward, you can exchange it for DASH. This goes back to our first step when choosing an exchange. You should consider all these before finally registering with an exchange that offers all the features you want.
Step 3. Buy DASH
The process of buying DASH on an exchange is very simple. Go over to the market section of the exchange and search for the currency pairing, click on the “Buy Dash” button and complete the order, providing the amount of DASH you want to buy and the types of order.
By “order, we mean either market order or limit order. You should be clicking the latter if you anticipate a further decrease in the price of the token. In this case, you can place an order, instructing the exchange to execute the order at a predetermined price.
A review section for your order will pop up for you to look at the specifics of your transaction before finalizing your purchase.
Step 4: Store your Dash in a wallet
Once your DASH token is sitting in your exchange account, you have to decide how to store the token. Some crypto exchanges provide custody options for their customers to keep their tokens.
But if you want to store your crypto for a long time, having a crypto wallet is a good idea. You can choose either an online (software) wallet or an offline (hardware) wallet. The latter is obviously the safest option for you.
How To Sell Dash
Selling your DASH tokens is not also difficult, as it involves a similar process of buying them. This time, you need to go to the ‘Sell Dash” link to executive your request.
Also, remember that some exchanges don’t accept direct exchange of DASH for GBP or other fiat currencies. So, you need to follow step three in the reverse process by exchanging other crypto pairs before finally converting to GBP.
Which Wallets Can I Use To Hold DASH?
As we mentioned earlier, the DASH token can be held either in an online wallet or offline wallet. But you need to choose a wallet that is compatible with the DASH token since there are several thousands of different wallets out there.
The best place to start is to go to the DASH website to see what type of wallet they are recommending. If you’re looking to hold your DASH token more securely, the offline wallet is the best option for you.
How Dash Works
The DASH token was initially known as Darkcoin when it was launched in 2014. However, it has evolved since then to become one of the most popular cryptocurrencies in the world. The main goal of the network is to improve the various limitations of Bitcoin, including lack of privacy, high transaction fees, and slow transaction speeds.
DASH uses the X11 mining algorithm, which is different from the single mining used by Bitcoin. As a result, the platform is a bit different from Bitcoin.
Key Things To Consider Before Buying DASH In The UK
Before moving into the crypto market to buy DASH, there are certain important things you should consider.
Availability of DASH
You need to find out the availability of the token. Thankfully, DASH is listed on several exchanges, making it very liquid and available across the exchanges. So, you will not have problems filling your orders whenever you want to transact with the coin.
The level of competition will determine the growth of the crypto assets. Too much competition will hinder its wider acceptance and growth. At the moment, DASH is facing stiff competition from other popular crypto-assets such as Bitcoin (BTC), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC).
Roadmap and future expectations
Despite the strong competition in the market, DASH has a future roadmap planned out by its developers. Recently, lots of projects have been linked to the platform, which could lead to an upsurge in the price of the token in the future.
Notwithstanding, it’s still important to carry out the necessary research before buying DASH.
Don't Miss: Dash Price Prediction Forecast
We have discussed the steps to buy DASH, how to store it, as well as how to sell it. The cryptocurrency has seen massive adoption and usage within the past few months and it has attracted several retail and institutional investors.
If you’re looking to buy DASH in the UK, the guide above will direct you.
eToro – Best Broker to Buy DASH
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.