Dash is yet another cryptocurrency that is derived from Bitcoins underlying blockchain technology. The Dash cryptocurrency, formerly known as Darkcoin and Xcoin was released in 2014 as a new and improved alternative cryptocurrency to Bitcoin. Like Bitcoin, Dash is meant to be used as a currency for buying various products and services. It is also a decentralized and mineable peer to peer cryptocurrency like Bitcoin.
However, while Dash has some important similarities to Bitcoin, it also has some very big and important differences as well. For instance, the Dash cryptocurrency is completely private. Nobody can track you, your transactions, or your Dash account balances. Users of Dash are kept completely anonymous, whereas Bitcoin user’s transactions and balances can be tracked through their unique Bitcoin address. Another major feature of Dash are their instant and irreversible transactions. Through Dash’s “Masternode” technology, transactions can be sent and received with in 4 seconds for only a few cents, which is significantly faster and cheaper than Bitcoins transactions. As well, Dash utilizes a trustless protocol and advanced encryption technology along with their anonymous payments for top of the line security.
With these impressive and unique aspects the Dash cryptocurrency has, there is no wonder it’s among the top 20 coins by market cap list. Dash is becoming increasingly more popular as more and more merchants are accepting it as a viable method of payment. This is especially true among the Asian markets, where Dash is being used to purchase and pay for everyday things like taxi cabs, restaurants, and in both physical and online stores. Dash cryptocurrency is expected to be used and accepted even more in the near future as they organization develops and releases new features and applications.
The current live price of DASH/USD:
How to Trade Dash
Not only is Dash becoming very popular as a viable cryptocurrency with real-world use cases, but it’s also become a very lucrative investment opportunity for cryptocurrency traders. Dash is now available on over 100 cryptocurrency exchanges, which is absolutely huge for a cryptocurrency. All the big exchanges will accept certain fiat currencies such as the US dollar or the Euro to purchase Dash with. As well, Dash can be purchased with Bitcoin or Ethereum as they are the standard cryptocurrencies for buying and selling all cryptocurrencies.
Once you have purchased and hold an amount of Dash, it can be traded on the exchange you bought it from as well as most others. Dash trading differs from trading Ethereum and Bitcoin for the fact that it can not be traded for any other cryptocurrencies other than Bitcoin and Ethereum. Traders can also trade Dash for fiat currency as well, but is most often traded in and out of Bitcoin or Ethereum.
CFD Trading with Dash
Another method used for trading Dash is through Contract for Difference trading, (CFDs). However, not all cryptocurrency trading brokerages or exchanges offer this method of trading. For the ones that do, a trader is able to put down a certain amount of money and bet which direction and by how much the price will move. This method of trading is very attractive for traders who do not have the liquidity or know how for purchasing and trading Dash.