Looking to buy DASH in the UK?
In this quick post, I’m going one of the cheapest places where you can buy DASH in the UK.
Where Can You Buy DASH in the UK?
Coinbase’s Advanced Trade interface allows you to buy DASH without getting charged insane fees (max 0.6%).
Importantly, you will be charged higher fees if you use Coinbase’s Simple interface. It’s important that you toggle on the Advanced UI if you want to get the lowest fees possible when using Coinbase.
Coinbase was one of the first places to support Faster Payments (FPS) in the UK – and means that any GBP you send over to Coinbase is credited quickly.
However, you can’t directly buy DASH with GBP using Coinbase’s Advanced Trade interface. This means you’ll have to exchange another cryptocurrency for it.
- Create a Coinbase account.
- Deposit GBP using a UK bank transfer into Coinbase. This is usually quick – but be prepared to wait longer the first time you do this.
- Toggle the Advanced Coinbase UI by selecting ‘Trade’ in the left sidebar, and then the ‘Advanced’ tab that shows up at the top of that area.
- Buy Bitcoin (BTC) on the BTC/GBP market.
- Exchange your Bitcoin (BTC) for DASH on the DASH/BTC market.
This means you’ll pay twice as much in trading fees, as you need to complete two trades to go from GBP into DASH. The maximum trading fees when using Coinbase’s Advanced UI are 0.6%, but you can get discounts if you trade a higher volume on it.
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Where Else Can I Buy DASH in the UK?
Here are four more places that allow you to buy or sell DASH in the UK:
What is DASH?
DASH is a digital currency that’s designed to enable quick, cheap, and efficient online payments without the need for a central authority like a bank.
Founded in 2014 as XCoin (and briefly known as Darkcoin), DASH was created by software developers Kyle Hagan and Evan Duffield. It is now run as an open protocol, so DASH isn’t under the direct control of any single person or institution.
DASH is technically a fork of Litecoin (LTC), which is itself a fork of Bitcoin (BTC). When compared to both Litecoin (LTC) and Bitcoin (BTC), DASH’s primary advantages include its larger block size and faster block confirmation times, which give it lower network fees.
It achieves these benefits by taking Bitcoin’s Proof of Work (PoW) model and integrating it with a second layer called the Masternode network. The Masternode network allows any node that holds at least 1,000 DASH to confirm DASH transactions in exchange for 45% of the network’s transaction fees. Masternodes also get voting rights on changes to the DASH protocol.
As a result of this unique layering structure, the DASH network can facilitate instant transactions between parties without compromising speed, security, or cost-effectiveness.
DASH transactions are confirmed on the network in under 1.5 seconds when you use a feature called InstantSend (or in under 2.5 minutes for regular transactions). Plus, the average DASH transaction fee is usually about 1p or less.
Although DASH hasn’t yet been widely adopted, proponents of the network claim that it can enable fast, secure, and cheap funds transfers around the world. Supporters of the network envision that it can serve as an alternative payment method to PayPal and credit cards due to DASH’s lower fees and accessibility to people who are underbanked around the globe.
Here’s a quick video that explains how DASH works:
If you hold more than 1,000 DASH, you can set up a masternode to stake your DASH and earn network fees. But the high cost of DASH coins means that this isn’t accessible to everyone.
That said, some centralised crypto firms and decentralised finance (DeFi) apps let you deposit your DASH coins on their platforms in exchange for interest payments.
These platforms generally pool together deposited user coins to fund their own masternodes or to loan out to other investors. There are risks to losing your coins when using these platforms, so you need to do your research beforehand.
Finally, some investors see DASH as a good long-term store of value. Supporters of the coin believe that its value will increase as more people want to send and receive funds using the DASH network.
But this all depends on the popularity of DASH. If traders want to use other cryptocurrencies for these purposes, like Monero (XMR) or Nano (NANO), then DASH’s value might not appreciate as expected.
Best DASH Wallets
DASH has its own native wallet called the DASH Wallet, which is available as an iOS and Android mobile app. It’s also available as a macOS, Windows, and Linux desktop app if you prefer to manage cryptocurrencies on your computer.
If you want to make the most of all DASH has to offer, including its super-fast InstantSend feature, the native DASH Wallet is normally your best bet. The downside to the DASH Wallet is that it doesn’t support any other coins or tokens, so it’s best if you solely want a way to manage the keys to your DASH.
Investors that simply want to HODL their DASH can use several other software and hardware wallets. Some popular software wallets that support DASH include:
- Exodus Wallet
- Atomic Wallet
- Trust Wallet
All three of these wallets are multi-currency wallets that are available as a mobile app. Both Atomic and Exodus Wallet are available as desktop apps, too.
Interested in a hardware wallet for your DASH?
Your best options include multi-asset wallets such as:
Ledger and Trezor devices are the most popular multi-currency hardware wallets on the market. The wallet interfaces for Ledger, Trezor, KeepKey, and Ellipal devices all support DASH – so you can manage your coins with minimal hassle.
Thanks for checking out this quick guide to buying DASH in the UK!
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