|Circulating Supply||8,582,411 DASH|
|Max Supply||18,900,000 DASH|
DASH is considered by many to be one of the most exciting cryptocurrencies around due to the emphasis it has on instant transactions that are both anonymous and secure.
The Dash coin now has a market cap of close to $4 billion with there is a coin supply of approaching 8 million. This cryptocurrency has a trading volume of $100 million on average each day and is currently valued at $497.49 at the time of writing this review.
That coin value alone should tell you how valuable many feel that this cryptocurrency is and while it is not worth anywhere near Bitcoin, there is still the feeling that there is far more to come from this promising cryptocurrency.
What is The Dash Coin (DASH)?
Dash used to be known as Darkcoin and Xcoin and is a peer-to-peer cryptocurrency that is open-source. It was first developed back in 2014 and used the Bitcoin blockchain as its core while adding its own innovative features such as PrivateSend and InstantSend that allow it to stand out from the crowd.
In more simple terms, DASH is a decentralized cryptocurrency that is similar to Bitcoin but has its own separate layer of improved security and anonymity.
Whats Special About Dash (DASH)
When Dash was announced and proposed, there were a number of advantages that they claimed gave them an advantage over some of the more popular cryptocurrencies. These included:
- PrivateSend – Probably of the main benefits of DASH is that of their PrivateSend service. This allows instant transactions to be made without any personal information of any kind being revealed. This is done via other coins being used that help to blur the transactions and make them impossible to track.
- InstaSend – Through the use of this service, users can transact in real-time. With the masternode taking care of this service, transactions can be completed within 1 or 2 seconds.
- Two-tiered Node System – Dash uses a different system when it comes to sending and confirming transactions. Instead of having single miners that completes all aspects of a transaction, there are two nodes. One of these nodes will do the basics such as creating blocks on the chain or approving transactions while a masternode will handle any special services such as the two above.
Where to Buy Dash (DASH)
The DASH coin has gained a very positive reputation and is seen by many as one to watch in coming years. It might not have broken into the top 10 when it comes to its market cap as if yet but there is a decent chance that it could get there soon. As for cryptocurrency exchanges that support it, you are spoilt for choice really.
We have listed five below to allow you to get started quickly:
In terms of size and trading volume, Binance is one of the biggest cryptocurrency exchanges available these days. It’s one that we always recommend due to the impressive reputation that it has among traders.
All of the major cryptocurrencies can be found on Gate.io as well as a selection of the lesser known ones as well. You will also find the fees quite appealing as well as they are pretty competitive.
With a very good selection of coins to trade, Kraken is another exchange that we have no problem recommending. You can even buy and trade for these cryptocurrencies using a number of different fiat currencies as well.
You can only trade Dash, Chainlink, Ethereum and Veros here but you do have the ability to use fiat currencies such as USD, EUR and SGD to purchase them. Major credit cards are accepted too.
Launched in 2016, Liqui has earned a pretty good reputation for the crypto-to-crypto trades that it allows. There are 30+ currencies in total but you are not able to use any fiat currencies to purchase them
Investing in Dash (DASH)
If you are looking for a coin or project that you can believe in, we suggest you do a bit of research on DASH. We certainly feel that they are starting to live up to their potential now and with pioneering features such as PrivateSend, InstantSend and the masternodes that it makes use of, this is a cryptocurrency that is seemingly making big improvements on the Bitcoin technology that is already in place.
Those that invested in DASH early on will now be reaping the rewards but we would like to bet that many are still holding onto their investment in the belief that there is far more to come from this highly promising cryptocurrency.
This currency will equally suit those that are after a decent long-term investment and those that are trying to make a quick buck on the market. The latter will obviously be trading on the premise that the value will have some violent and volatile swings in either direction.
Do I Need a Dash Wallet?
Just a quick read of any cryptocurrency news site will bring you to the attention of hackings at the cryptocurrency exchanges. Just last week a well-known exchange was hacked for currencies worth more than $550 million.
These exchanges try to be as careful as possible and use sophisticated security features but hackers will always find a way of getting into their servers eventually. In order to prevent these hackers getting your cryptocurrencies is to keep them out of the wallets on these exchanges when you are not using them.
Thankfully, when it comes to DASH, you have a good amount of choice of third-party wallets that you can use to store the cryptocurrency. We have listed just a handful of them below with two being hardware-based and the other two being clients that can be installed on your computer.
We always recommend that traders use the best security going when it comes to the storage of their portfolios of cryptocurrencies. Hardware-based wallets are what can provide the best protection. There are not too many of them around right now but we get the feeling that more will spring up in time.
There are two that accept the DASH coin:
Many traders absolutely swear by Trezor and this is easy to see why when you see how sturdy it looks. A bit more expensive than other hardware-based wallets but many of you will deem it as worth the cost when you consider the cryptocurrencies that it will be protecting.
KeepKey is another popular hardware wallet and would also be a good choice for the storage of your portfolio of cryptocurrencies. Again, a hardware wallet like this offers much better protection than any other kind of wallet.
If you do not consider yourself a serious trader and just like to buy and sell on a more casual basis, you might want to use a software wallet instead. We really feel it would be better to go for hardware-based wallets but these are your next best option. Anything is better than keeping your funds online at the exchanges for too long.
The two below are probably your best options when it comes to online/software wallets:
Exodus is a big name wallet that comes with a good reputation, it is downloaded and run as a client on your devices and allows you to store a selection of different cryptocurrencies. Check it out if you want to use a software wallet that you can trust.
Jaxx is another popular choice for traders and this is a wallet that can store currencies such as DASH, LTC, ZCash and ETH. Again, this is a client type wallet that can be downloaded and run on your computer.
There will probably be other wallets you can use as well but do make sure that you do your homework first. You need to establish whether the wallet is going to be one that you can trust.
Pros & Cons
Dash finds itself cemented in the top 20 cryptocurrencies by market cap and is, therefore, a cryptocurrency that is already being backed strongly by traders all over the world. Do they know something that the rest of us don’t or do are they just gambling on the hype that this cryptocurrency is creating?
That is difficult to tell but it is up to us as individuals to make our own minds up as to whether we should be investing in a coin that has shown some sharp gains over the last year.
- Some of the lowest transaction fees around
- PrivateSend allows for completely anonymous transactions to be sent
- The invention of masternodes
- PrivateSend depends on the network having many active users to be fully effective
- Some claim that the Proof of Work algorithm is not the best for energy consumption