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    November 16, 2017

    How to buy Dash in South Africa

    how to buy Dash in South Africa with Rand

    Looking to buy Dash in South Africa? Here’s an easy guide to purchasing Dash at great prices, along with hot and cold wallet storage options!

    Among cryptocurrencies such as Bitcoin, a select few ‘altcoins’ such as Ethereum, Litecoin, and zCash have succeeded in cultivating large-scale price increases throughout the course of 2017; and it’s perhaps no surprise that many keen investors are looking to buy Dash in South Africa.

    Dash, of course, has previously been referred to as Darkcoin and Xcoin before settling on its portmanteau name of Digital Cash. Dash was created with the intent of becoming the world’s most user-friendly cryptocurrency and offers several unique features such as instant and private transactions.

    Dash has appealed to many purchasers seeking not only an elegant store of value, but also a means of exchange that prioritizes both near-instantaneous transactions and well as the ability to transact with additional privacy measures beyond what cryptocurrencies such as Bitcoin already offer.

    Read: How to buy Ethereum in South Africa

    Dash is often described as a Decentralized Autonomous Organization (DAO) thanks to its decentralized governance and budgeting system. Unlike Bitcoin, where tasks on the network are completed by miners, Dash instead relies on miners to create new blocks in a Blockchain, while Masternodes handle governance functions such as PrivateSend, InstantSend, and other tasks.

    Dash has posted strong returns throughout 2017 – the cryptocurrency sold for just $11.356 USD on the 1st of January, and at the time of writing sells for over $420 USD. The digital currency’s vibrant community and positive outlook has encouraged many to invest for both the long and short-term.

    How to buy Dash in South Africa:

    To buy Bitcoin and digital currencies online in South Africa, investors can make use of Coindirect; Coindirect is a South African exchange that offers easy access to Bitcoin, Ethereum, zCash, and many other popular cryptocurrencies, and represents an easy means for many South Africans to purchase Dash with Rand.

    To buy Dash in South Africa, users can make use of secure instant EFT to purchase their coins –  within a 90-minute payment window, users can dictate how much Dash in DASH or Rand value they wish to purchase, and can EFT the required funds directly to a trusted seller on Coindirect. Until the EFT is authenticated, the coins will be held in escrow.

    Traders looking to transact in amounts in excess of R15,000 ZAR will need to unlock a trading limit, wherein users will need to fill in their personal details and can verify themselves by uploading a copy of their ID or Passport, a selfie holding both items, or a Proof of Address.ss.

    Coindirect provides customers with both easy access to an online Bitcoin and Ethereum wallet, and users trading Dash will further receive their own online wallet for their personal use.

    Users interested in selling their Dash or other cryptocurrencies can further setup payments to reflect directly into their banking account of choice once a trade is completed.

    Dash Wallets: hardware or software?

    While purchasing Dash is an important first step in getting involved with investing in cryptocurrencies as a whole, a second – and possibly far more significant – dimension is securing one’s wealth.

    A popular option amongst investors is to transfer their purchased cryptocurrency to an online wallet for safe-keeping; Coindirect offers easy access to a built-in Dash wallet that can be secured using two-factor authentification (such as through Google Authenticator).

    ledger nano 5

    Ledger Wallet’s Ledger Nano 5 is one such hardware wallet.

    A more secure method – although, naturally more expensive – is to purchase a hardware wallet to store one’s cryptocurrency. These typically take the form of a USB node that appears somewhat familiar next to a USB flash storage drive.

    Read: How to buy Bitcoin in South Africa

    Have your say!

    What are your thoughts? Do you plan to purchase Dash in the near future? Be sure to let us know your opinion in the comments below!

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    • Really like Coindirect, very nice website and a lot of altcoin options, but some of the coins are quite a bit more when compared to other places so (as you should anyway) check that before you go all in (because we all know you love the risk and reward of going all in).

      • Charl Norman

        Fair comment. But thats the price you pay for convenience. On CoinDirect you can pay with instant EFT from your SA bank account vs wiring cash overseas to Bittrex and waiting 2-5 days to do so and incurring FX fees.