You have probably heard of bitcoin, the cryptocurrency that has taken the world by surprise. Since Bitcoin exceeded the price of US $ 7,000 in December 2017, a maximum of three years, the general interest in cryptocurrency has skyrocketed.
One of the beneficiaries of that interest is Dash, a cryptocurrency that has existed in some form since 2014. With a value of around US $ 10 at the beginning of 2017, it broke the price of US $ 1500 in less than a year.
If you are wondering what is behind the incredible growth of this cryptocurrency and how it compares with Bitcoin, you have come to the right place.
What is Dash?
Like Bitcoin, Dash is a cryptocurrency, or a digital currency exchanged through encrypted software. You can hear it described as an altcoin, which refers to any cryptocurrency that is not bitcoin.
Dash first existed as Xcoin. It was relaunched as Darkcoin in January 2014. One year later, in March 2015, the developers changed the name of Darkcoin as Dash, short for “digital cash”.
How to buy Dash?
Ready to buy DASH tokens? Here we show you how to get some of the cryptocurrencies for yourself.
1. Get a wallet
A cryptocurrency wallet is where you will receive and store your Dash. You have several options for Dash wallets:
Desk. Dash offers an official desktop wallet that includes the Private Send and InstantSend functionality. The developers of Dash also recommend Jaxx and Exodus.
Mobile. You can also save Dash on your phone. Look for portfolios like Jaxx (iOS and Android), Coinomi (Android) and Dash Core (iOS).
Hardware. Save your Dash in specialized cryptocurrency portfolios, such as Keep Key, Ledger Nano S and TREZOR.
Paper. With a paper wallet, simply write down your public and private keys (encryption blocks that allow you to send and receive cryptocurrencies)
2. Buy Dash
You have two main ways to buy Dash: exchange it for bitcoin or buy it directly with fiat money.
The Fiat currency is money issued by the government as dollars, euros and yen. It is centralized because the government prints it. Unlike many digital currencies, that nobody distributes or distributes.
It’s easier to buy Dash if you already have bitcoin. Then it’s just about moving your bitcoin to an exchange of cryptocurrencies and changing it to Dash. Bitfinex, Kraken, ShapeShift and Bittrex are some of the popular exchanges that allow Dash trading.
Buying Dash with fiat money is a bit more complicated because there are not many platforms that allow it. Two services that offer fiduciary transactions to Dash are BitPanda and Kraken.
The developers of Dash are forming new partnerships with cryptocurrency services for more accessible fiat to Dash transactions. For example, you can register with Coinapult and Crypto Capital to buy Dash.
3. Transfer Dash to your wallet
Whichever exchange you use to buy Dash, you will have the option to transfer the coins to your wallet. Avoid leaving the coins in the exchange, where they can be stolen by hacking.
The developers of Dash tried to create a payment platform that is:
Decentralized Users can send cryptocurrencies to each other without depending on an intermediary, such as a bank or a government.
Private. Over the years, bitcoin has existed, it has been shown to be anonymous, but not totally private. In response, the developers of Dash tried to create totally private cryptocurrencies.
Quick. Many users consider that bitcoin’s slow confirmation times make it unviable as an option for the consumer. Dash was built to allow quick transfers.
As we will see later in this guide, Dash’s privacy is under debate. However, cryptocurrency observers broadly agree that Dash has achieved his other two objectives.
Some things you should know about Dash
Let’s review some quick statistics that illustrate what Dash is about.
There is a limit on Dash coins
You can know that only 21 million bitcoins can be extracted. In the same way, only 18 million Dash can be extracted.
A limit on the number of cryptocurrencies that can be extracted is what is known as controlled supply.
Around 7.5 million Dash coins exist at this time, and the last coin is expected to be minted around the year 2300.
Dash has become one of the largest cryptocurrencies
Of the hundreds of cryptocurrencies that exist, Dash is one of the most popular. In the fall of 2017, it was the eighth largest cryptocurrency by market capitalization. At that time, the 7.5 million Dash in existence was worth $ 1.5 billion.
That said, the cryptocurrency still has a long way to go. In September 2017, Bitcoin, Ethereum and Bitcoin Cash, the three largest cryptocurrencies, had market limits of US $ 69 billion, US $ 29 billion and US $ 11 billion, respectively.
What makes Dash special?
Dash was created in part to address two of the biggest bitcoin problems: the lack of privacy and the speed of transactions. It has other advantages that reportedly improve in bitcoin.