According to Crypto.com, 106 million people currently invest in all kinds of cryptocurrencies.
If you’re interested in investing in cryptocurrency as well, you should look into Dash cryptocurrency.
But what are Dash coins? And how do you invest in Dash crypto? Keep reading to find out!
What is Dash?
Dash is an open-source, peer-to-peer decentralized cryptocurrency. It focuses heavily on being anonymous but also easy to use. Many users also claim the transactions are very fast.
The goal is to make digital cash, which is where their name comes from.
They are a smaller company, having about fifty employees. However, these employees are always working to create some of the best features, like PrivateSend. With this feature, you’ll mix coins through computers that will make it impossible to track a transaction from the beginning to the end.
They also have thousands of miners around the world, which makes it more beneficial than BitCoin because it’s a faster and more private transaction.
If you want to learn more about Dash, make sure you check out this page.
What Makes it Different?
Dash is different when you compare it to other currencies because it’s a two-tiered network. This means that you’ll have a faster processing time, whereas other cryptocurrencies will take minutes or hours to process.
A feature called InstantSend is really what makes Dash stand out from all of the other ones. Even though Bitcoin might be more popular, it could take minutes to send a transaction through. However, Dash does it instantly thanks to their improved technology.
How Does it Work?
This is run by a decentralized autonomous organization (DAO). A DAO platform means that it depends on contracts that are voted by the community to determine where they take the company.
These are important when it comes to cryptocurrencies because it helps to govern and fund Dash.
How to Invest in Dash Coins
There are a few different ways to buy Dash coins.
However, you’ll first need to make a few accounts.
Make a Bitsane and Coinbase Account
Bitsane is where you’ll keep all of your Dash tokens. This is one of the more popular companies because you can send transactions from Coinbase to this account.
When you sign up for Coinbase, you’ll get $10 in free Bitcoin when you sign up and also deposit $100.
When you have your accounts set up, you’ll then have to buy some Bitcoin. You can buy it either on Coinbase or Ether.
To buy it on Coinbase, go to your account, and go to the Buy/Sell page. You’ll have to enter your information, but then after a few minutes, you’ll have a Bitcoin in your wallet.
Transfer Your Bitcoin
When you have the Bitcoin in your account, then transfer that over to Bitsane.
When you look at your Bitsane account, you can look at “Balances.” Then you can look at “Wallets.” You’ll be able to see the different kinds of coins that are in your account.
Since you’re transferring Bitcoin, you should see that and see a Wallet Address.
Once you’ve copied that address, go to your Coinbase account, paste in the address, and hit send.
Buy Your Dash
Once you’ve finished transferring the Bitcoin, you can use that to buy Dash.
Navigate to the top of the Bitsane homepage. You’ll see a button that says Exchange, so click on that. You’ll be able to choose Dash from the different dropdown options to buy.
After you’ve entered all of your information, you can then see a confirmation for your Dash crypto.
How Do You Mine Dash?
If you’re more interested in mining Dash, you can still do this with a traditional PC or GPU miner.
The network uses an X11 hashing algorithm, which is a unique program specific to the platform by the person who developed Dash. This algorithm uses a chained hashing algorithm.
This is a much more complicated algorithm than Bitcoin is, which makes it more secure. This security is what helps to boost Dash as one of the top cryptos to invest in.
When you use the X11 algorithm, you’ll be able to mine a new block every 2.6 minutes, and each block contains 2 MB of data.
How Do You Store It?
Once you’ve bought it or mined it, then you’ll have to find a way to store it.
Thankfully, there are three main ways.
Dash Official Wallet
First, you could try using the Official Dash Wallet. This will offer the support you need for your Dash, and you can download it on any device to have it be compatible with your operating systems and devices.
You can download the Dash wallet from their official site.
You could also use security devices to protect your wallets from thieves. These work on your computer by taking over all of the privacy settings.
There are three different hardware wallets that will help support Dash.
Third Part Wallets
You could also find other third-party wallets, but these may not be as secure.
For example, you could use Jaxx or Exodus.
Learn More About Dash Cryptocurrency
These are only a few things to know about Dash Cryptocurrency, but there are many more things to keep in mind.
We know that trying to learn everything about cryptocurrency can be stressful and overwhelming, but we’re here to help you out!
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