Dash (DASH) is crypto traded frequently and often used in a pair with Bitcoin. Many exchanges offer low value when trading Dash to Bitcoin. That is why it may take some time to find a platform that provides better rates. This guide looks at what Dash is and the best exchanges to switch between Dash and Bitcoin and get a great rate.
What Is DASH
Dash has quite a unique history and has gone through two rebrands during its lifetime. It was initially called Xcoin while in production, but the name was quickly changed to Darkcoin. As with Darkcoin, the idea of the coin was to allow users to transact anonymously and keep absolute user privacy.
With the name Darkcoin and its anonymous reputation, it was quickly picked up as a coin to use on the Dark web. At one point, it was estimated that it was mainly used for criminal enterprise. This drew a lot of attention to what would become Dash, and the creators started to feel the heat from lawmakers and regulators. Realizing that they couldn’t operate as they were, they rebranded to Dash and created a coin that has become a reputable cryptocurrency.
To do this, the privacy features associated with Darkcoin have been watered down. Now the coin is used for its fast transaction speeds and low fee structure rather than for privacy. As a result of the second rebrand, Dash became a mainstream cryptocurrency, and it has enjoyed a lot of commercial success since the new name took effect.
Where to Trade DASH to Bitcoin
One of the significant considerations with trading Dash and Bitcoin is the respective coin values. Both Bitcoin and Dash command a high price per coin. Moreover, the value of each coin can vary wildly between exchanges. Not only do the prices differ from one exchange to the next, but the price of the coins can move erratically. This means you need to find an exchange that transacts in real-time or locks in the price as soon as you start the transaction.
Another issue Dash and Bitcoin transactions can have is fees, which isn’t so much an issue with Dash but is with Bitcoin. When trading out Dash for Bitcoin, Dash users are often shocked at the Bitcoin fees compared to their usual Dash fees. Exchanges that fail to do this will often leave users unhappy when they realize the amount of Dash or Bitcoin they have received is much smaller than anticipated due to market price movement.
Best Exchanges for Dash to Bitcoin Trades
As mentioned, the key considerations when trading Dash to Bitcoin are transaction speed and fees. You will need to take these two things into account when finding the most suitable platform.
Three exchanges are suitable for transacting Dash and Bitcoin. These are Binance, Coinbase Pro, and a decentralized cryptocurrency exchange online Godex.io.
Binance
Binance is a centralized exchange that has a fantastic fee monitoring system for keeping fees low. As a result, it is an excellent exchange for fast and low-fee transactions. There are two downsides to Binance, though.
First, if you’re using Binance.us, you’re probably going to have a frustrating time as customer support on the US Binance is notoriously poor. Global Binance is considered much better than the tightly controlled US version. So if you’re not in the US, you will probably find a much more user-friendly exchange.
Another downside is that for transactions that are large in value, Binance operates a KYC system, which can delay transactions in the amount over a certain daily threshold.
Coinbase Pro
Coinbase Pro is probably one of the most well-known crypto exchanges. Once you’re up and running on it, transactions are smooth, fast, and low fee. This makes Coinbase Pro a very appealing prospect for crypto traders.
For security concerns or want to avoid sharing data, Coinbase Pro is not a good idea. First, Coinbase has been hacked before, and second, it has KYC checks with ID verification needed. This means that the initial setup of your Coinbase Pro account can take up precious time and isn’t ideal if you want to get your crypto quickly.
Godex.io
Last on our list is Godex.io. This exchange has high daily trading volumes and a massive range of cryptocurrency pairs to choose from. Even better, your Dash and Bitcoin transactions happen in real-time, and the rates on Godex are fixed as soon as you start the transaction.
Godex also has an advantage over both Binance and Coinbase Pro. It doesn’t ask for any ID, and there are no trading limits at all across the exchange. This makes Godex stand out among other exchanges we have listed as it provides reliable anonymous service and exceptional value.