A quick guide to Dash cryptocurrency

With the number of cryptocurrencies available today, users and enthusiasts alike are looking for a cryptocurrency that can guarantee fast and reliable transactions. One of those cryptocurrencies is Dash. Known for its instant global transfers, Dash dominates the world of digital assets with its security and seamless transactions. Learn more about this cryptocurrency right here at BTC Post!

An introduction to Dash cryptocurrency

Launched in 2014 as Xcoin and then rebranded in 2015, Dash is an open-source cryptocurrency with the objective of ensuring user privacy and anonymity. It is a Bitcoin fork that aims to solve the 10-minute block confirmation time of Bitcoin to create a more streamlined process of validating transactions.

By providing a faster and more anonymous service to its users, Dash aims to become a daily transactional medium that can be utilised like cash, a credit card or PayPal.

How Dash works

Dash allows users to send, pay and receive payments anywhere in the world. Since it is an open-source platform, it allows developers to create and launch dApps on top of its blockchain. Decentralized Applications or dApps are programs running on a peer-to-peer network, meaning no middleman is involved in its operations.

The Dash blockchain has a second verification layer called ‘Masternode’ which is responsible for the network’s speed and anonymity. Each Masternode can accept, reject and keep transactions made by miners on the blockchain. Additionally, Dash miners can upgrade to Masternode status by depositing a minimum of 1,000 DASH tokens

Moreover, Dash also works by utilizing its PrivateSend feature, allowing users to make transactions with additional privacy. Compared to other cryptocurrency transactions that are accessible to the public, PrivateSend keeps Dash transactions and the identity of its users untraceable.

Furthermore, it only takes a few seconds for the Masternode to confirm a Dash transaction because of the cryptocurrency’s InstantSend service. Although there’s a little extra cost to use the InstantService, it proves it’s quick with its 2.5-minute transaction time.

Where to use Dash

Global transfers

One of the main points of creating Dash is to provide fast and easy global transfers. Dash can send and receive cryptocurrency transfers from various locations around the globe with an improved average transaction speed of 2 minutes 39 seconds. These are all possible without any intermediary, allowing transactions with cheaper fees.

In-store purchases

Users can pay using Dash in any location where Visas are accepted. More than 4,800 merchants worldwide accept Dash as a mode of payment in purchasing products and services.

A lot of stores online are now accepting Dash and other cryptocurrencies as payment for their goods and services. Some of the online merchants that support Dash include:

• Dash Giftcard Store
• eGifter
• Travala.com
• Shopinbit
• Bitrefill
• Churchs Chicken Venezuela
• RE/MAX Venezuela
• CheapAir.com
• XcelTrip
• NordVPN
• Mobile Topup
• CryptoRefills
• Pi Supply
• Viking VPN
• Laci Cloud
• Sugartrends
• Living Room Of Satoshi
• La Maison Navarre
• Gainesville Coins
• Crypterium.

Benefits of Dash

Apart from the unique PrivateSend and InstantSend services, you can receive a wide range of benefits from Dash. Check them out below:

Low Fees

One of the most notable benefits of Dash is its transaction fees with the average transaction only costing US$0.2 to US$0.3. Its affordability allows users to transact as many times as they want without worrying about additional fees.

Accessible

Dash is available in major exchanges such as Binance, Bitcoin.com, Hubi and more. Additionally, some crypto ATMs also offer Dash, allowing you to purchase coins offline.

Mobile app version

Dash cryptocurrency is not only available in online browsers, but it also has a mobile app that’s downloadable to your devices such as mobile phones and tablets. It’s available on Windows, macOS, Android, iOS and Linux platforms, making it highly accessible.

Swift Transactions

Dash can easily complete a transaction in a few seconds compared to some cryptocurrencies that take several minutes to process a transaction. This makes it ideal for everyday use such as purchasing various products online or in physical stores.

How to buy Dash

Make the most of your crypto transactions when you use Dash cryptocurrency! Here’s how you can buy Dash tokens:

1. Register in a crypto exchange platform

To acquire cryptocurrencies, the most popular and accessible way is through exchange sites. There are a lot of popular crypto exchange platforms you can choose from and some of the most notable ones are:

• Binance
• BigONE
• Bitcoin.com
• OKex
• Upbit
• Coinbase Pro
• FTX
• Kraken
• Kucoin
• Bithumb.

Research about the various crypto exchanges to get to know their different perks. Signing up for an exchange is easy since you’ll only need to provide an email address. However, some sites require a photo ID and other details to satisfy KYC (Know Your Customer) laws before you can begin using the site.

2. Get a cryptocurrency wallet

Before purchasing Dash, make sure to get a crypto wallet first so you can safely store your tokens. Here are some types of crypto wallets:

Desktop wallet

This is a type of wallet that’s installed on your computer and is accessible via the internet. Some of the popular desktop wallets include:

• Dash Core
• Dash Electrum
• Exodus
• Guarda
• Jaxx Liberty
• Coinomi.

Mobile wallet

As the name suggests, mobile wallets are installed on your phone. This is a convenient type of storage for your crypto because you can access it anywhere as long as you’re online. Some of the popular mobile wallets are:

• Dash Android
• Edge
• Abra
• Spend
• Bitnovo.

Hardware wallet

Hardware wallets, also known as cold wallets, are USB-type devices that have side buttons to conduct crypto transactions online, making it the most secure storage since it requires physical confirmation. Some of the most popular hardware wallets are:

• Ledger Nano S
• Ledger Nano X
• Trezor
• Ellpal Titan
• Atomic Wallet
• Cobo Vault.

3. Deposit funds into your account

Some crypto exchanges don’t accept fiat currency in exchange for Dash. You must buy a cryptocurrency such as Bitcoin (BTC) and Ethereum (ETH) that can be exchanged for Dash.

4. Buy Dash

Now that you have your account, wallet and funds, it’s time to buy your Dash tokens. Look for a currency pair you want such as BTC/DASH, ETH/DASH, ETH/DOGE and simply enter the amount of DASH you want to buy or spend in cryptocurrencies.