Buy Dash in South Africa – How to Buy DASH in Under 5 Minutes
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
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.
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.
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.
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.
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.
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.
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.
|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|
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.
|Trading Fee||0-0.26% (based on trading volume)|
|Credit/Debit Card Fee||3.75% + €0.25|
|Online Banking Fee||0.5%|
CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.
CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.
83% der Konten von Privatinvestoren verlieren beim Trading von CFDs bei diesem Anbieter Geld. Ihr Kapital ist im Risiko
|N/A||CBI and MiFID in Europe||N/A|
|N/A||1:2 for cryptocurrencies||N/A|
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.
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
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).
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.
After your account has been funded, you’re almost ready to invest in Dash. Just type “Dash” into the search bar and press “buy”.
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”
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.
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.
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.
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.
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.
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.
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.
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.