Dash – The Fastest Digital Currency Ensuring Anonymity

Dash (originally Xcoin and Darkcoin) is a digital currency and online payment network that has been in operation since January 2014. A DASH coin can be divided down to eight decimal places and its smallest unit is thus 0.000 000 01 DASH. The number of coins in the network is finite and it is estimated that the total amount will not exceed 18 million DASH. The network enables fast, cheap and completely anonymous payments all over the globe.

All the transactions carried out in the network are stored in blocks, one of which is created every 2.5 minutes. The blocks then form a public file called a blockchain that in fact works as a digital account book.

Secure Payments – Digital Wallet

A digital wallet is used to make cryptocurrency transactions possible. Each digital wallet has a unique address that is made up of a random combination of numbers and letters. When making a transaction, the addresses of both sender and recipient are recorded in a blockchain which can put your anonymity at risk. In this respect, DASH has the edge over Bitcoin. In the case of Bitcoin, your anonymity is secured only as long as your address is secret. However, when your identity is revealed and linked to your address it becomes easy to browse your transaction history. DASH allows its users to further protect their privacy so that the transaction cannot be linked to their address.

DASH is the first decentralized and autonomous organization in the world of cryptocurrencies. It is self-governing and independent of external influences. The future of the network is not determined by a small group of individuals. Instead, the decision-making is in the hands of the community of investors (also called masternodes) confident in the currency and possessing at least 1000 DASH each.

Getting DASH – Cryptocurrency Purchase

DASH coins can be obtained either through mining or online exchange. The currency has been very popular and therefore is supported by most cryptocurrency exchanges. There is no need to create a digital wallet when buying DASH through online exchanges. However, storing coins in your regular exchange account is not the safest option as there have been numerous cases of cyber attacks resulting in loss of the assets.

If you opt for storing your coins using a DASH wallet, there are several types to choose from. The most secure of them are hardware wallets. You can also use an online wallet or download a digital wallet to your device.

Like most of the cryptocurrencies, DASH is usually used for investments rather than for everyday financial operations. There is a great Dash trading Course for Beginners that you can use to guide you.  If you prefer trading Dash without the need to store the currency, you should use a CFD broker. The CFD brokers’ services are based on the changing value of the currency and enable you to invest in DASH without actually buying it. You just have to make sure your broker supports the currency. IQ Option and Plus500 are examples of credible brokers you can use to trade DASH. Both of the brokers also offer a possibility to set up a free demo account to practice trading without any risk.

DASH Price – Value Determinants

The value of DASH is based solely on supply and demand and their interaction. The more people use the currency, the greater the demand is and the price rises. Similarly, if the supply is greater than the demand, the value of DASH falls. Just as any other digital currency, DASH can be negatively influenced by programming errors, cyber attacks, etc.

Dash was originally called Darkcoin. As its name implies, it was often associated with illegal activities (drug trafficking, etc.). All cryptocurrencies can be easily abused in general. However, the level of anonymity in DASH transactions is much greater which makes it convenient to use on illegal markets. Although darknet is a stain on its reputation, it is safe to say DASH or any cryptocurrency for that matter hugely benefited from the existence of darknet markets.