Buy Dash in South Africa – How to Buy DASH in Under 5 Minutes

Launched in 2014, Dash originally aimed to provide greater privacy and security for transactions on the blockchain, however, it’s since re-aligned its aims, with a focus on facilitating everyday transactions. As more and more companies begin accepting crypto as payment, cheap and quick transactions are on everyone’s mind. Although it’s impossible to predict which crypto will become the default for everyday transactions, as a Litecoin fork (which itself is a Bitcoin fork) there is a lot of potential in Dash, which is likely why so many people are wondering “how to buy Dash in South Africa”.

This handy guide will explain in detail how to buy Dash, the best Dash exchange, and discuss its merits as an investment. If this sounds like something you’d be interested in, then I suggest reading on. 

Buy Dash at Capital.com –  South Africa’s #1 Platform

1
£20Exclusive promotion
Our score10
  • No commission or hidden fees
  • Officially regulated by FCA, CySEC, and NBRB
  • Hedging mode available

How to Buy Dash in South Africa – The Quick Four-Step Strategy

If you’re just looking for a quick summary on how to set up the best Dash exchange, then you’re in the right place! If you’d prefer to read our full reviews for each platform then you can find them below, along with our take Dash as an investment.

Step1: Register with Capital.com: If you want to get started investing in Dash, then you’ll first need to register with a broker. You’ll need to go to capital.com, register, and provide some basic information. 
Step 2: Verify your Account: Because capital.com is a regulated platform, you’ll need to verify your account by providing some documents. You’ll need a photo ID (passport, driving license) and also proof of address (bank statement, utility bill).
Step 3: Deposit Funds: Once you’ve verified your account, you’ll need to deposit funds. You can do this using either a credit card, debit card, or a bank/wire transfer. 
Step 4: Purchase your Dash: Now your account has some funds added, you’re free to purchase some Dash. Simply type “Dash” into the search bar, press “buy” to open up the order menu, enter the amount you’d like to purchase, and press “buy” once again.

What is Dash?

With the rise of cryptocurrencies being used in everyday payments, a lot of people are looking toward cheaper alternatives to escape ever-increasing transaction costs. Dash, a derivative of Litecoin, aims to solve the issue of transaction costs by situating itself as the de-facto crypto to pay for things. Dash originally started with the goal of providing anonymity and privacy on the blockchain, however, it has since re-focused, leaning more toward facilitating transactions. In 2018 Dash ventured into the Venezuelan market in an attempt to help ease the issue of hyperinflation. 

The main difference between Dash and its “grandfather” Bitcoin, is the consensus method used to validate transactions. Rather than relying purely on miners, Dash utilizes what they refer to as masternodes in order to fulfil some aspects of the network. The reward for a new block getting minted is around 2.88 DASH, with 45% going to the miner, 45% going to the masternode, and 10% being used to fund the continued development of the network. Some would argue that Dash uses a hybrid of PoW (proof of work) and PoS (proof of stake), however, because miners always have the final say, in reality, it’s more of a PoW coin, with additional rewards for hosting a masternode. 

Where to Buy Dash in South Africa

Cryptocurrency has fairly relaxed regulations in South Africa, meaning many large, international exchanges are free to operate there, as such, it’s necessary to consider what you’re looking for in an exchange, pairing one to your individual needs. To help you do this we’ve written full-length reviews for our top picks for the best Dash exchange, detailing the merits and detriments of each.   

1. Capital.com – Best Overall way to Buy Dash South Africa

Capital.com

Capital.com is without a doubt the best Dash exchange. Launched in 2016, Capital.com has risen up the ranks to become one of the most well-known trading platforms in the world. They’ve achieved this by providing users with an excellent all-around experience, and by offering a huge variety of financial instruments. As a regulated platform, you don’t have to worry about the safety of your funds, making it a great platform to invest in for whatever length of time best suits you. 

Speaking of keeping your money safe, Capital.com offers users industry-leading account protection. This is achieved in part by closely adhering to regulations from the FCA and CySEC, two leading authoritative bodies, meaning customers can be sure their data won’t be used in an offensive way. Any sensitive data you provide Capital.com is also protected by Transport Layer Security encryption, making sure even if someone were to attempt to intercept your data, they couldn’t get their hands on it.

The fee structure of Capital.com is what makes them stand above the competition, they offer commission-free trading, complete with no deposit or withdrawal fees, making it an extremely attractive platform for anyone looking to get the most out of their money. The only thing to take note of when trading on Capital.com is the spread fee, although compared to most exchanges this is negligible too. Outside of the crypto market, you can also trade ETFs, Indices, Forex, and Commodities, making it the perfect platform for anyone with trading experience outside of the crypto-sphere. Technical traders are also well looked after on Capital.com, with over 75 indicators to choose from and TradingView integration. With all these useful features, it’s easy to see why Capital.com is the overall best Dash exchange.

Capital.com Fees

Fee Type Amount
Dash Spread 4.5%
Commission 0%
Withdrawal Fee £0
Deposit Fee £0
Inactivity Fee £0

 

Pros

  • Low fees
  • Good security
  • Regulated
  • 75+ technical indicators
  • TradingView integration
  • Commission-free

Cons

  • No way to set price alerts
  • Crypto trading isn’t available in certain countries

2. OKEx – Buy Dash for Traders in South Africa

Founded in 2014, OKEx is a global trading platform, primarily targeting experienced traders. The platform offers a huge amount of advanced trading features like PoW mining, liquidity mining, and staking, along with all the other features you’d expect from a large crypto exchange. All that being said, don’t let advanced features put you off if you’re new to crypto, OKEx also provides a plethora of educational resources to help new traders get started on the right foot. 

OKEx focuses its efforts on two separate fronts when it comes to security, online and offline storage. Because anything connected to the internet is guaranteed to have some kind of vulnerability, OKEx uses cold storage to secure 95% of their funds offline. To prevent a single point of failure causing issues, they also limit which employees have access to the cold storage, requiring confirmation from a minimum of 2 people. For the remaining 5% of funds that are kept in semi-offline wallets, security is ensured by storing private keys inside of RAM rather than a HDD/SSD, this prevents anyone from being able to unlawfully access the keys. On top of this, OKEx uses distributed authorization, a method of securing a wallet by requiring confirmations from several employees, all based in different geographical locations.

As we mentioned, OKEx is the perfect platform for anyone with previous trading experience, however, it also has several features targeted at beginners, making it great for both new and experienced traders alike. On the homepage you have the option to enable “Basic Trading” which removes some more complex features from the interface, instead, allowing users a simple way to spot trade. In addition to this, under the “learn” section there is a wide range of educational material designed to assist new traders. 

OKEx Fees

 

Fee Amount
Maker Fee 0.060%
Taker Fee 0.06%
Withdrawal Fee Variable

 

Pros

  • Great for both new and experienced traders
  • Range of assets
  • Huge amount of indicators
  • Fairly low fees

Cons

  • Not available to US residents
  • Can be too complex for new users

3. Coinbase – Buy Dash Easily in South Africa

As the largest crypto exchange in the US, Coinbase has clearly made a name for itself, likely due to the platform’s simplicity and strict rules for adding new coins, in order to protect users. They focus on providing users with a simple-to-use exchange, a great rewards system, and a good level of account security. As a regulated platform they have to abide by strict rules set in place by authoritative bodies, these rules typically dictate how customer data should be managed as well as what financial instruments can be offered. If you’re wondering how to buy Dash, then Coinbase makes it extremely simple, allowing you to buy Dash with a credit or debit card.

Coinbase users benefit from advanced security features designed to ensure customer safety, as of 2021, Coinbase is yet to be compromised, so seemingly their efforts are working. One method they use to keep users safe is 2FA, requiring a text or email for important account actions. Users also have the option to enable biometric security, consisting of things like fingerprints and Face ID (although this is limited to mobiles). In line with many other large exchanges, Coinbase boasts cold storage for 98% of funds (higher than the majority of exchanges), this ensures that even if a hack were to occur, customer funds would remain safe. 

It’s no secret that Coinbase is aimed primarily at beginners, their interface is simple, yet effective and makes it easy for new users to navigate successfully. They have a rewards program that lets you earn crypto rewards for watching a short video and successfully answering a couple of questions, providing far greater incentive to users than simply offering reading material. It’s important to keep in mind there are two Coinbase platforms, “Coinbase” and “Coinbase Pro”, the Pro platform offers slightly more features and is for those with a bit of experience, however, it also has a much more relaxed fee structure, so it’s worthwhile for newcomers to use Coinbase Pro instead. 

Coinbase Fees

Fee Coinbase Coinbase Pro
Debit/Credit Card 3.99% 0%
Bank Deposit 1.49% 0%
Wallet 1.49% 0%
Conversion 0.5% to 2% 0.5% to 2%
Trades $0.50 $0 to $0.50
Coinbase fee $0.99 to $2.99 Based on size of transaction  0.04% to 0.50% taker fee and a 0% to 0.50% maker fee

 

Pros

  • Simple to use
  • Rewards system
  • Good security

Cons

  • Limited coins
  • Lack of advanced features
  • Confusing fee structure

4. Kraken – Buy Dash Securely in South Africa

Since its release in 2011, shortly after the launch of Bitcoin, Kraken has won the hearts of investors thanks to its great security, advanced features, and low fees. Kraken is a regulated platform, so you needn’t worry about your data. A great platform for both beginners and experienced traders, Kraken is available in over 176 countries, supporting a variety of local currencies, this makes it one of the most accessible platforms on our list. 

Kraken does not take customer security lightly. In an effort to combat attackers trying to gain physical access to the servers, they have armed guards posted nearby 24/7, a sure-fire way to ensure nobody wants to risk gaining physical access. Like most of the other exchanges we’ve mentioned, Kraken keeps 95% of funds locked away in air-gapped cold storage, with the remaining 5% only being used to keep the platform running smoothly throughout its day-to-day operations. All the sensitive information you provide Kraken is securely SSL encrypted to prevent anyone from being able to intercept your data over the network and to top it off, they also offer email 2FA whenever you’re withdrawing. All in all, we’d say this makes Kraken the best Dash exchange in terms of security.

As a platform that prides itself on the security it offers, it’s no surprise that Kraken is regulated by several authoritative bodies, these being the FCA, FinCEN, and FINTRAC, thanks to these strict regulations you know any data you provide will be handled carefully. They boast a wide range of advanced features, in the form of staking, educational material, charting tools, and a wide variety of indicators.

 

Kraken Fees

Fee Type Amount
Trading Fee 0-0.26% (based on trading volume)
Credit/Debit Card Fee 3.75% + €0.25
Online Banking Fee 0.5%

 

Pros

  • Phenomenal security
  • Available all over the world
  • Wide range of indicators
  • Competitive fees
  • Regulated by several bodies


Cons

  • Slow support & verification
  • The volume-based fee structure is not ideal for beginners
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Rating
5.0
4.5
4.3
Mobile App Rating
1/10
10/10
9/10
Mobile App
Wallet
Number of Coins
321014
Trading Fees
SpreadsCommissionN/A
Deposit Fees
N/A$0N/A
Withdrawal Fees
5 USD$0N/A
Regulated
N/AYesCBI and MiFID in Europe
Min. Deposit
50$$20$100
Leveraged Trading
N/AYes1:2 for cryptocurrencies
Bitcoin
$61539.16$61594.54$61748.38
Ethereum
$4113.15$4040.50$4050.59
XRP
$1.12$1.09$1.11
Tether
$1.00N/AN/A
Litecoin
$197.62N/A$195.10
Bitcoin Cash
$643.12N/A$639.02
Chainlink
$30.90N/A$31.36
Cardano
$2.22$2.16N/A
IOTA
$1.36N/A$1.33
Binance Coin
$492.56$566.60N/A
Stellar
$0.38$0.38$0.38
EOS
$4.84N/A$4.77
Credit Card
Paypal
Sepa Transfer
Skrill
Sofort
Giropay
Neteller

How to Buy Dash – Detailed and Explained in Full

Would you like a detailed guide on how to buy Dash? Well then, read on! We’ve created this walkthrough to make sure you have as easy of a time as possible when it comes to investing in Dash.

Step 1: Open an Account with a Broker

The first thing to do when investing in any cryptocurrency is register with a broker. To do this, simply head over to Capital.com, click “Trade Now” and provide some basic information

 

Step 2: Verify your Account

Once you’ve completed the initial sign-up, you’ll need to verify your account. This is standard practice for any regulated exchange and is to protect against money laundering. You’ll need to provide a photo ID (passport, driving license) and proof of address (bank statement, utility bill).

Step 3: Fund your Capital.com Account

Now that you’ve verified your Capital.com account, you’re ready to deposit some funds. To do this simply click “deposit” and then enter the amount you wish.

Step 4: Search for Dash

After your account has been funded, you’re almost ready to invest in Dash. Just type “Dash” into the search bar and press “buy”.

Step 5: Buy Dash South Africa

We’re on the last step now! On the right-hand side of the screen, you should see a menu pop-up. Simply, enter the amount of Dash you’d like to purchase and hit “buy”

Purchasing Dash – Is it a Good Investment?

2021 has been a great year for Dash, even now (late September) Dash is up more than 50% from its price at the start of the year, considering most cryptocurrencies are still trying to recover from the massacre in May, we’d say that’s a good sign. 

With more and more companies (and countries) beginning to accept various cryptocurrencies as payment, a coin like Dash certainly has the potential to make it big. With Dash intending to be the de-facto cryptocurrency to facilitate everyday transactions, the use case for Dash is only increasing and with people becoming worried about the impact on the environment traditional blockchains have, it makes sense for a more efficient coin-like Dash to be used.

Additionally, due to beginning its life as a privacy coin, Dash has strong anonymity and encryption features, positioning itself well in an ever-more privacy-focused world. In 2021 there are more people than ever before in crypto, this is evidently benefiting Dash, as its current price ($155) is the highest it’s been since its huge run in 2018, so it could make sense to pack your Dash bags while the price is still relatively low. 

The Advantages of Investing in Dash

With the world looking for a more efficient alternative to Bitcoin, it makes sense that Dash could be set to explode. We’ve seen Dash soar to heights of over $1400 during its largest run, giving it the potential to achieve these numbers again, especially given the newfound popularity in the crypto market. 

  • Untapped Potential: in 2018 Dash hit over $1400, sending investors into a frenzy. Everyone wanted a piece of the pie and it’s no surprise considering in 2017, just a year before, the price was well under $20, meaning investors could’ve earned well over 50x on their initial investment. With the price of Dash once again on the rise, many people have been left wondering if it has the potential to reach those heights again, and with crypto being far more popular now than in 2018, the potential is there.
  • Low-cost Transactions: Everyone is currently looking for low-cost, energy-efficient, alternatives to Bitcoin. This puts Dash in an excellent position. Dash is a Bitcoin fork, meaning it’s familiar enough to not scare investors away while remaining different enough to draw them in. 
  • Bitcoin Fork: We’ve all seen how well Bitcoin has done since its release in 2009, and as a cheaper, more efficient Bitcoin fork it could be possible for Dash to follow in Bitcoin’s wake.

 

The Disadvantages of Investing in Dash

Although Dash is a very interesting cryptocurrency, it’s not without issues. It had several problems close to its release, leading many to brand it as a scam coin, although we now know this to be unlikely, it does still suffer from some big problems.

  • Centralization: A large portion of the Dash community believe the majority of the masternodes are being run by the Dash founders and developers. While they might not have any nefarious plans for Dash, if true, it does greatly detract from Dash’s status as a decentralized cryptocurrency.
  • Harsh Competition: New altcoins are being released almost every day, this means that there is bound to be a lot of competition. This is especially true within the sector of coins looking to facilitate cheap and efficient transactions, with competitors like TRON, offering even cheaper fees, greater decentralization, and greater innovation.
  • Lack of innovation: Dash is a Bitcoin fork, and although they improve on the technology and add some unique features, it does mean the technology isn’t particularly new. When there are increasing unique and advanced projects being released constantly, it makes sense that one could topple Dash. 

How Much Does it Cost to Buy Dash in South Africa?

As long as you make sure to use a regulated, commission-free Dash exchange like Capital.com, you don’t have to worry about paying more than an investor from another country. If you’re looking to buy some Dash right now, the price is currently $155, meaning an investment of $500 would net you 3.27 DASH.

Purchasing Dash – How to Pay for It

If you’re looking to invest in Dash, it’s important you consider how you’ll be paying for it. Most exchanges offer a few different ways to pay, so it’s important to choose the best option for your personal needs. Below, we’ve broken down two of the most popular ways to pay for cryptocurrency, and explained the pros and cons of each method.

Buy Dash Using Bank Transfer

One way most exchanges will let you invest in Dash is by bank/wire transfer. This method is great because most people will already have access to a bank account, meaning no additional signing up is necessary, on top of this oftentimes you’ll be paying a far lesser fee when compared to a credit/debit card. Lower fees mean you’ll get more for your money and if you’re regularly investing this certainly adds up.

Buy Dash using a Credit/Debit Card

One of the most convenient ways to purchase anything is by using a credit/debit card. If you’ve got a bank account, you’ll most likely have a bank card, meaning this option is open to the majority of investors. Unfortunately, in this case, convenience comes at a steep cost, the majority of platforms charge high card fees, which can seriously eat into any profits you would’ve made. It’s important to consider if the convenience is worth the extra cost, especially if you plan on investing frequently. 

Conclusion

In summary, Dash is a coin with a great deal of potential and great technology behind it, the only drawback is it potentially being overshadowed by more innovative competition. We hope that after reading this guide you’ll have an answer to the question “how to buy Dash” and be well on the way to investing. After analyzing the merits of each platform we can recommend Capital.com as the best Dash exchange, thanks to their great security, range of financial instruments, and simple to use platform. As with any investment, it’s always important to do your own research and keep any large sums offline in a hardware wallet.

Best Platform to Buy DASH in South Africa: Capital.com

1
£20Exclusive promotion
Our score10
  • No commission or hidden fees
  • Officially regulated by FCA, CySEC, and NBRB
  • Hedging mode available

FAQs

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About Jay Leonard PRO INVESTOR

Jay is a UK based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. He has a great deal of hands on experience in the space and a current focus on institutional adoption.