How To Short Dash (DASH)

    • James Page

James HeadshotAuthor: James Page - Last Updated on June 28, 2022

Summary: Shorting Dash is pretty straightforward, all you need is a cryptocurrency exchange that allows for short selling. While there are a few exchanges out there that have added the ability to short crypto, our recommendation is to use eToro. They’re well-known, have a global presence, and are trusted by millions of users from 100+ countries.

We’ll be using eToro in our guide, you can sign up with one of the sign-up buttons below.

Global: Sign up with eToro

USA: Sign up with eToro US

Dash

Before we get started, let’s quickly explain what shorting is (for those that are new to it). Shorting is the practice of selling a cryptocurrency hoping it will drop in price so you can buy it back later for cheaper… which, if successful, will give you a net profit.

It might sound a bit complex but don’t worry, it’s a lot easier than you might think.

How to Short Dash

Shorting Dash can be done in 4 steps:

  1. Find a cryptocurrency exchange
  2. Sign up with the exchange
  3. Fund your account with fiat or crypto
  4. Short Dash

1. Find a crypto exchange

As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.

You can, of course, use any other cryptocurrency trading platform that allows for short selling.

etoro crypto

2. Sign up with the cryptocurrency trading platform

Let’s start with creating an account on eToro.

Global: Sign up with eToro

USA: Sign up with eToro US

 

eToro sign up form

The sign-up process is very quick and easy, as is the verification that needs to be completed afterwards so you can get started.

3. Funding your account

Next is funding your account. You have several deposit methods to choose from when depositing funds into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.

4. Short Dash

These are the steps to follow to execute a short sell:

  1. Go to the search bar at the top, find Dash by entering the name.
  2. On the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
  3. At the top of the trading interface: Click on sell to short the crypto.
  4. Enter the amount for which you want to sell Dash and click on “Open Trade”.

Once you’re ready to close the trade, hopefully when the value of Dash has dropped, go to your Portfolio, find the Dash trade, and click on the red cross to close the trade.

If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.

Congratulations, now you know how to short Dash!

Global: Sign up with eToro

USA: Sign up with eToro US

 

Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.

Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.

 

Where to Short Dash (DASH)

Aside from eToro, the other major exchange you can use is Binance.

While Binance tends to be a bit more advanced when compared with eToro, they do have a lot more digital assets to trade with.

 

Frequently Asked Questions

Can I short Dash on Binance?

Yes, you can short Dash on Binance. They have over 300 cryptocurrencies on offer, have a decent phone app and a lot of advanced trading features.

About Dash

Dash is an open-source crypto and blockchain designed to make it easy to create a global payments system that is fast, inexpensive, and decentralized. Dash's whitepaper states that it aims to improve Bitcoin's (BTC), providing faster transactions and stronger privacy.

Dash (whose name is derived from digital cash) was launched in January 2014, as a fork Litecoin. Dash was launched in January 2014. It now includes features such as InstantSend, which allows you to instantly settle payments, ChainLocks, that instantly changes the Dash blockchain, and PrivateSend. This adds additional privacy to transactions.

Software developers Kyle Hagan & Evan Duffield created Dash. The original name for the project was XCoin. In order to improve its image, Darkcoin was adopted two weeks later.

Dash claims its mission is to "be the most user-friendly cryptocurrency that accepts payments." Dash relies upon masternodes. These are servers that are secured by collateral in Dash and designed to offer advanced services securely. Masternodes, which are part of the block rewards, provide a second layer in services to the network. They allow functions such as InstantSend or PrivateSend to be performed.

Dash is available to individuals as well as institutions. Dash Core Group announced that its future strategic objectives include building its ecosystem, brand, satisfying users, and further improving the technology behind it.

Dash's governance, or treasury system, distributes 10% from block rewards for development of project in a competitive, decentralized way. This has allowed many funding organizations to be created, such as Dash Core Group. Dash Foundation receives donations, and offers individual and institutional memberships.

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