With a market cap that is closing up 10 Bn USD, Dash is one of the fastest growing cryptocurrencies and stands as the 8th largest cryptocurrency by market cap today. We explore secure options of how and where one can buy Dash in India in INR.
How to buy DASH in India:
You can buy DASH directly in India on BuyUCoin. Per our research, BuyUCoin is the only website in India that supports the trade of DASH in INR. BuyUCoin offers zero fees for buyers.
The other option to buy DASH is to buy Ethereum and later exchange it for DASH on an international crypto exchange platform. Below, we will detail steps to do the same
1. Buy Ethereum on an Indian exchange
One can buy Ether tokens on an Indian exchange for the sake of later using it as the token to exchange DASH for. Although Bitcoin can also be used, we recommend that Ether be used because transaction times are faster and it costs less.
You can buy Ethereum on below platforms:
2. Simultaneously, set up an account on an international crypto exchange
Crypto exchanges like Binance allow traders to buy altcoins by using Ethereum or Bitcoin. One can easily set up a Binance account with their email ID. We recommend using Google authenticator to do 2-factor security for additional safety.
3. Move your Ether to Binance
Once your Binance account is set up, you can transfer your Ether tokens to your Binance wallet.
4. Exchange your Ether tokens for Dash
Binance has a live buy/sell portal where one can execute buy trades. When ready, you can execute a buy trade for Dash with your Ether token.
Is DASH legal and regulated in India?
RBI has issued 3 stern warnings, the last one in December ’17 about the risks of trading in cryptocurrency like Bitcoin and Dash. The Reserve Bank of India has stated that it has no regulation or authorization for use of cryptocurrency in India. SInce there is no regulation around cryptocrurrency in India now, legality is still a gray area.
Should I invest in DASH?
Investing in cryptocurrency, whether it is Bitcoin or Ethereum or Dash is considered by many financial experts as a gamble. Many feel that the market is very speculative and that it is propped by speculative investors. Others also feel that we may be in a ‘crypto bubble’. Considering the risks involved with cryptocurrency trading, we highly discourage speculative investing and recommend potential investors to only invest money that they are willing to lose.
FAQ – Frequently Asked Questions
What is DASH?
Dash is a digital P2P cryptocurrency that one can use a form of digital cash. Dash is very similar to Bitcoin, but has solved a lot of the problems Bitcoin faces technologically like speed, privacy, and decentralized governance.
What are the benefits of Dash?
- Transaction Speed
- Low fees
What documents are needed for eKYC to buy in India?
- Aadhaar card
- PAN Card
- Bank documents – Canceled Cheque (or) Passbook