A Brief Overview of Cryptocurrency Dash

Dash (Digital Cash) received its modern name in 2015, while previously it was called Darkcoin. The creator of this crypto project, Evan Duffield, characterised his brainchild as follows:

Darkcoin is an altcoin created to anonymise crypto payments.

Until 2017, Dash was in flat without any particular trends, but in early 2017, it showed a sharp growth, which is most likely justified by the growth of Bitcoin.

Anonymity

The main advantage of Dash is privacy, which is provided by the technology ‘Private Send.’ It allows you to split a transaction into several equal amounts and mix your funds with the coins of other customers who also use this feature. The quality of mixing depends on the number of selected rounds.

Mining

This coin is typically mined using ASIC miners such as AntMiner D3 and iBeLink DM22G, as well as video cards. From the Radeon 500 series, models on the Polaris 20 GPU are suitable, from the Geforce 10 series, models on the GP106 GPU are mainly used. Mining on the CPU is also possible due to the special programs. However, at present, it is less profitable because of the high complexity of the network. To mine Dash on video adapters, panel miners are used. These are programmes without an interface, where all commands must be entered into the command line, such as ccminer, cgminer, sgminer.

Buying DASH

Today, most cryptocurrency exchanges and instant exchange services list with Dash, as this popular coin ranks high in the top in terms of prices and capitalization. For example, we will find out how to buy Dash on the Polyx crypto exchange.

After completing the simple registration process, click on ‘Menu’ in the upper right corner and select ‘Wallet’ from the drop-down menu. You will be redirected to a page where you can top up your account balance using fiat currencies (USD, EUR, RUB) and popular cryptocurrencies (BTC, ETH, LTC) by clicking on ‘Deposit’ next to the selected currency. Any user can easily complete the top-up process.

And now, by clicking on the ‘Menu’ in the same top right corner, you can select the ‘Exchange’ submenu and go to the trading page. The upper right block with prices will allow you to choose the cryptocurrency you want to buy — click on the DASH ticker. The trading page will be updated, i.e. changed from BTC-USD (by default) to DASH-USD. Then you need to select a purchase in the middle (below the chart) either by limit or by market (OTC). Both tabs have an intuitive ‘Get’ field and a ‘Buy DASH’ button — just enter the desired number of coins and buy them.

Now you can withdraw the purchased coins to your crypto wallet. This is if you need them right now to pay someone with cryptocurrency or make a purchase where Dash is accepted. To do this, go to the ‘Wallet’ submenu, where you topped up your account balance, and click on the second ‘Withdrawal’ button in the Dash bar.

Storage

Almost any cryptocurrency wallet is suitable for storing Dash, as well as in the case of exchanges. Official wallet Dash Core can be downloaded from the website dash.org — enter the Downloads section and choose one of the options convenient for you. Dash Core and Dash Electrum are recommended for use on the desktop computer. There are such mobile applications as Dash Android, Dash iOS and Edge, as well as web wallets — MyDashWallet and Guarda.

Some crypto investors prefer to store Dash and any other cryptocurrency directly on the exchange, so they don’t create separate wallets for this purpose. Others consider such storage unreliable due to the multitude of scam projects, as well as the periodic closure and blocking of exchanges.

Looking to the future

Many investors and enthusiasts consider Dash to be a promising coin and hope for its further growth and development. Most of these positive expectations are likely related to price surges in December 2017 and April 2021.