Are you looking for where to buy Dash (DASH) in Canada? This guide covers the top Dash exchanges you can use.
Dash is a cryptocurrency that is used for fast and low-fee payments worldwide. It was forked from the Bitcoin protocol.
Read on to learn about how to invest in the Dash coin.
How To Buy Dash in Canada
1. Open an account: Create an account at a crypto exchange that offers Dash. Because this altcoin is not as popular as Bitcoin or Ethereum, only a handful of exchanges support it in Canada.
2. Fund your account: After opening your crypto account, fund it using Canadian dollars or transfer in your existing crypto assets from an external wallet.
3. Buy DASH: Place a ‘buy’ order for Dash. Some exchanges offer Dash-crypto and Dash-CAD pairs, so you may not need fiat currency to buy Dash.
4. Store Dash: It is generally advised to keep your cryptocurrency offline using a hardware wallet like Ledger. You can also leave your Dash assets on the exchange.
Where To Buy Dash (DASH) in Canada
The top two cryptocurrency exchanges offering Dash in Canada are:
1. Binance
Binance is the largest cryptocurrency exchange in the world. It offers Dash and hundreds of other altcoins and stablecoins (over 300 coins in total).
The top features of Binance include:
- Available on all devices
- Very low trading fees at 0.10% or lower
- Multiple funding options
- Offers crypto staking so you can earn interest on your crypto assets
- Crypto derivatives markets
- NFT marketplace
- Software wallet (Trust Wallet), and more
Note that Binance is not available to residents of Ontario.
Offer: Get a 20% lifetime fee discount. When you pay trading fees using the Binance Coin (BNB), you get an extra 25% discount (45% fee discount overall).
Binance
Trade hundreds of popular coins
Best for advanced crypto trading tools
Up to 0.10% trading fee
Get a 20% lifetime trading fee discount
2. Newton
Newton is a Canadian crypto brokerage platform available in all provinces and territories. It is one of the best places to buy Dash. Its top features are:
- Instant verification
- 70+ coins, including DASH
- 0.70% trading fee with free deposits
- Canada-based and FINTRAC-registered Money Service Business
- User-friendly for beginners
Offer: Get a $25 bonus when you open a new account and trade $100 worth of crypto coins.
Newton
Trade several popular coins
Excellent crypto broker for newbies
Up to 2.20% trading fee
Get a $25 bonus when you trade $100
How To Sell Dash
Selling Dash (DASH) is just as easy as buying it. The steps are:
- Sign in to your crypto exchange account and search for your Dash wallet.
- Place a ‘Sell’ order for DASH at either the current market price (market order) or a specific price you prefer (limit order).
- When your sell order is completed, the cash proceeds are added to your fiat balance.
What To Look For in a Dash Crypto Exchange
You should consider several factors when choosing an exchange to invest in Dash and other cryptocurrencies.
Some of my top considerations are:
Trading fees: Choose a crypto exchange that has competitive trading fees. Fees eat into your investment returns, and the lower they are, the better.
Security: Investigate the security measures put in place by the exchange to secure your assets. Security features can include 2-factor authentication, cold storage, insurance, etc.
Crypto selection: Confirm that the exchange offers the coins you plan to buy and sell.
Funding options: It is better to have multiple ways to fund your account such as crypto deposits, debit cards, Interac e-Transfer, credit cards, bank wire, etc.
Crypto withdrawal options: The exchange should give you the option to withdraw your crypto to an external wallet if you so wish.
How to Store Dash
You can store Dash using a variety of hardware and software wallets.
The most popular hardware wallets in Canada are:
What is Dash (DASH)?
Dash is a scalable digital payment system that was launched in 2014 by software developer Evan Duffield. The Dash digital currency offers fast and cheap payments, enabling users to make everyday purchases with digital cash anywhere in the world.
Dash is based on Bitcoin and works as a two-tier network structure using proof of work and masternode systems to improve efficiency.
The PoW system
Mining devices solve complex mathematical puzzles to add new blocks of transactions to Dash’s blockchain.
Masternode System
A masternode is a server with a full copy of the Dash blockchain and is usually operated by users with at least 1,000 Dash.
Top features of a masternode include InstantSend and CoinJoin. IsntantSend ensures faster confirmation of transactions within two seconds, while CoinJoin is a way of running a sequence of transactions, hence making them harder to trace.
The Dash coin can be bought in major exchanges, like Binance and Coinbase, and has the following uses:
- Governance: Holders with 1,000+ Dash coins vote on governance and funding proposals.
- Payments: You can use the coin to make everyday purchases, including plane tickets, bill payments, groceries/dining out, subscriptions, and more.
- Block rewards: Miners and masternode operators receive a portion of block rewards from Dash mining.
There is also DashDirect, a retail savings app that allows users to make purchases using the Dash coin and realize savings and discounts in retail stores and websites.
Dash Canada FAQs
While Dash is not legal tender in Canada, it is legal for anyone to buy it in Canada.
Dash, like every other cryptocurrency, is a speculative investment, and you can lose or make money when you invest in it. If the crypto market does well, there’s a chance Dash will increase in price. If there is a prolonged crypto bear market or the government bans Dash, its value could go to zero.
You can easily buy Dash in Canada using Binance or Newton.
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Disclaimer: Cryptocurrency is a volatile and speculative investment. If you decide to invest, we recommend you do your own research and only commit funds you can afford to lose. The author may own one or more of the crypto assets mentioned in this article.
