Built in 2014 as a Bitcoin fork, Dash coin addresses some of the biggest issues that many cryptocurrencies struggle with - scalability, transaction speeds, privacy and sustainability. Dash is known for being the first currency to implement masternodes, the backbone of its system. This innovation gave birth to new features such as PrivateSend and InstantSend. Due to their nature, each and every transaction is fully anonymous and doesn't contain revealing information such as the address of the sender and the recipient. Additionally, mining rewards are split differently.
Alongside the miners and the masternodes, 10% of all mining rewards go to development funding. This gives Dash a lot of room for growth, as all network participants can voice their opinions and propose new additions. The use of masternodes and voting/self-governing additions set in place its highly decentralized system, With regular software updates in regards to security, Dash managed to establish itself as one of the most decentralized cryptocurrencies in 2019.
The large amount of active masternodes (almost 5k) serve as a testament to its ever-increasing popularity, With the market cap of $670 million as of November 2019, Dash ranks in the top 20 among all cryptocurrencies and shows no signs of slowing down.
Dash retains the trading simplicity of all modern cryptocurrencies. The first step is finding an exchange that contains a pair of which Dash is a part of. This can either be another cryptocurrency such as ETH or BTC, as well as a fiat pair (USD/EUR). Some exchanges support direct wire transfers or even credit and debit cards. Alternatively, Dash coin can be bought via platforms such as Coinbase/Local Bitcoins, although the process is slightly more complex.
All exchanges require a registered account prior to being used. You'll have to submit some basic information, as well as the details of your preferred payment method. As soon as you create an account, you get a unique address for sending/receiving available cryptocurrencies. All of your personal data is kept private, used only to confirm your identity and improve your trading experience.
Most of the exchanges have a built-in digital wallet for each supported coin, which is where you'll have a quick access to them after the first successful transaction. For increased security, Dash is supported by some of the major hardware wallets. However, the drawback is that you won't be able to sell them immediately. Keeping them on your trading platform's digital wallet allows for real-time monitoring of the prices, as well as easy exchange for other currencies.
XTRgate platform is available 24/7. You are able to monitor price fluctuations in real-time, placing orders in a matter of seconds. The whole process is automated, and as soon as you're registered you won't have to submit any additional information or sign annoying contracts. Without the involvement of a third-party, every transaction is processed almost immediately.
All information is kept behind the top-of-the-line encryption standard. In the rare case of a software malfunction, all users are notified immediately. Transaction information is fully masked, even with the use of credit cards. Additionally, each wallet is unique and can't be traced back to its source. With the rise of hacker attacks, your safety is our number one priority.
Getting the transactions done in a pinch is a breeze. Due to the mobile-first design, our trading software won't be an obstacle even when you don't have access to a computer. Whether you're on a 5'' or a 30'' display, the user interface will tailor accordingly.
Everyone has to start somewhere, which is why we don't require massive initial deposits. You're aware of all the charges that you might encounter during your trading, without any hidden fees. With no minimum withdrawal amounts, we leave it up to you to decide how much profit is enough.
The popularity of Dash skyrocketed in the beginning of 2017 and continued throughout the whole year. In December of the same year, it reached its peak with an astonishing market cap of almost 12 billion dollars. With this surge, Dash established itself as one of the top 10 most popular cryptocurrencies.
Even with the price drops that plagued many of its competitors, Dash managed to remain stable and achieved constant growth. It recorded an 18% price rise since the beginning of the year. Its 24 hour trading volume is higher than even some of the higher ranked cryptocurrencies, which suggests large adoption rate in the years to come. Big names such as Amazon started offering discounts to Dash holders due to fast transaction speeds. It's important to note that Dash coin was developed merely five years ago, but already has ROI of over 9000%. With the self-sustaining system in place, the future is bright for Dash.
Since Dash was the result of dissatisfaction with Bitcoin, it's not surprising that most of its largest features deal with the main problems of the currency which started it all. These are:
Bitcoin wasn't created for large-scale application. The price and time needed to confirm a transaction make it impractical. On average, a Bitcoin transaction takes almost half an hour to process. The largest transaction fee recorded was almost $150! In comparison, Dash transactions are handled in a matter of seconds, and have reached an all-time low fee of $0.02.
Bitcoin keeps a ledger of transaction history which is publicly accessible. Using Dash's PrivateSend, masternodes take care of the transactions. However, they don't have the ability to record the sender's information, making them virtually untraceable.
With 10% of mining rewards going to the Dash network, developers are encouraged to grow and improve the platform. Anyone can propose an idea, after which a voting is initiated on the masternodes. In contrast, Bitcoin community has regular disagreements and troubles with new implementations.
1. Choose a reputable exchange. Make sure that they have good security systems in place, as well as a place to store your Dash.
2. Market is volatile. Patience is everything, and selling impulsively is one of the biggest mistakes. The general rule is: buy low, sell high.
3. Invest only what you can afford to lose. Set a budget and stick to it.
4. Use in-built charts from the software to follow the prices and trends.
5. Mistakes will happen. Learn from them and ensure they don't repeat.
6. Have fun and enjoy the process. You won't get rich overnight, but it can be really profitable in the long term.
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