What is Dash

What is Dash

Dash is a revolutionary cryptocurrency that is designed to work like the ordinary money cash. This project was launched in early 2014, but it was not called Dash at that time. The new coin debuted on market as an XCoin and was used mostly for peer-to-peer transactions in the Tor network.

A few years later, in the beginning of 2017, Dash was reborn as an updated project with strong technical base.

Unlike Bitcoin, Dash was created to perform fast peer-to-peer transactions with all the security cryptocurrency can provide.

Advantages of using Dash

As the cryptographically secured digital cash, Dash gives its users the following advantages.

Strong network

To provide instant transactions and block confirmations, Dash invented the network, based on the so-callen masternodes. Every masternode owner should invest at least 1000 DASH to create one. This role is very important and the Dash founders keep an eye on every masternode to keep the network safe, secure and fast processing.

Privacy

Dash network supports private transactions using the mechanism called CoinJoin. This method invented by Gregory Maxwell for secured peer-to-peer transactions of Bitcoin was changed a bit and set up to fit Dash users’ needs. This means that every member of the network can perform transactions using less power to confirm them and less time as a result. This technology also hides your transactions and money transferring from other users that are not involved in these CoinJoin transactions.

Instant money sending

This is one of the most unique features of the Dash network. Every miner sends the block’s hash to the quorum of the masternodes. They check this hash and lock the amount of DASH, used in this InstantSend transaction. The money will be sent to the recipient immediately, and the locked sum of DASH will be processed in the next block.

DASH definitions

Cryptoasset

Any asset in the world that is cryptographically secured is called Cryptoasset. Its functionality is usually processed by the blockchain compatible network.

Exchange

This is a platform where cryptoassets can be bought and sold.

Node

This is a special public computer, where transaction history is kept.

Market cap

For every cryptoasses the market capitalization can be found as the multiplication of the value of the coin supply and the coin price.

DASH investment strategy

There are lots of strategies to invest in cryptoassets. Everyone can select exactly what he or she is up to. Will it be a long-term investment strategy or will it be scalping on a short term market changes, it is up to you.

The easiest strategy is to byu and keep your cryptoasset for a while. You can buy DASH and watch it grow, because of its hard capped emission. When it will grow and you would like to fix the profits, you can easily switch DASH to fiat money or other coins you like via BestRate.org.

Where to keep DASH

When you decide to start investing in DASH, you have to choose one of the methods to keep your money safe. As the DASH is one of the most popular coin on the market, it has a variety of wallets on several platforms to fit your strategic needs.

Hardware wallets

KeepKey Hardware Wallet

One of the most popular hardware wallets, supporting not only DASH but a plenty of other cryptos.

Trezor

This is another hardware wallet with the secured connection type. It supports the two-step verification for enhanced safety.

Ledger Nano S

Small and compact wallet, compatible with any PC that has USB interface.

Desktop / Mobile wallets

Dash Wallet

The initial solution from DASH development team.

Coinomi

Software crypto wallet with the applications for the most popular operating systems (Windows, Apple, Android). It also supports multi currency mode and can keep lots of different coins in one place.

Edge Wallet

Very convenient and user-friendly wallet with simple interface.

How to transfer DASH securely

With crypto payments, there’s no third party to govern your transactions and give you money back in case you send them to the wrong address. That’s why you should be extremely careful when making payments with DASH coins.

Never type a wallet address manually

You should always only copy-paste the wallet address. All DASH wallet addresses should be copy-pasted correctly in order to sent your money to the right recipient. Any mistake can cause an error and let your money get lost in the network.

Look up the transaction fee

Any good wallet or an exchange platform will show you the transaction fee for your money transfer. Look for it anytime you send DASH to anyone.

Double check the address

Make sure that the address of the recipient is right and check it several times before sending off the sum, especially if you transfer big amounts of DASH at a time.

Test before sending

Anytime you send huge amount of DASH check the whole procedure on a small amount. When you will be sure that your partner received the money, do the same thing with the rest of the asset.