Developed in 2014, Dash is a digital asset that initially went by the name “Darkcoin.” As opposed to Bitcoin and other digital currencies, this one was created with the goal of giving its users greater privacy and anonymity. Building on further success, it underwent a rebranding later on in 2015 when it changed its title to “Dash,” an acronym for “Digital Cash.”
Dash is built on a decentralized blockchain much like Bitcoin, and it utilizes a Proof-of-Work system to authenticate transactions and protect the network. Although there are many parallels between both systems, Dash has various features that place it in its own category when compared to other digital currencies.
Dash shines due to its twofold network architecture. The first layer includes regular nodes, which behave as other crypto networks’ nodes do. But the second tier is what sets it apart – these are “masternodes,” delivering services such as InstantSend (for almost instantaneous transactions) and PrivateSend (giving you greater privacy).
The Dash network has an ingenious self-funding mechanism known as the “treasury system”. A part of the block awards produced by means of this network is allocated to its treasury account, which is overseen and managed by masternode operators. This dedicated reserve can be utilized for financing various projects that will enhance Dash overall – from development and marketing initiatives to other beneficial strategies.
Dash strives to be the ultimate solution for quick, safe, and private payments online. It has been well-received by crypto devotees, as well as numerous merchants and companies who have adopted it as a payment option.
Dash is listed on all large crypto platforms. In March 2023, the Dash crypto price was around $61.68.
How to Buy Dash?
Follow these straightforward steps to purchase Dash cryptocurrency:
- Choose a cryptocurrency exchange. When selecting an exchange to buy Dash, make sure it is trustworthy and supports your local currency. Notable exchanges that provide this service include Binance, WhiteBIT, Kraken, and Bitfinex.
- Create an account. After you have decided on an exchange, your next step is to generate a new account by completing the required fields: email address and password. To ensure more security, additional personal data such as a driver’s license or proof of residence may be necessary for verification purposes.
- Add funds. To begin trading, you must fund your account by either making a bank transfer, using a credit card or some other payment method recognized by the exchange.
- Buy Dash crypto. Once you deposit funds into your account, go to the exchange and look for a trading pair with Dash. You can then place an order specifying how much of it you’d like to purchase as well as the maximum price that you’re willing to pay.
It is essential to keep in mind that the cryptocurrency markets are unpredictable and prices can change drastically. Researching thoroughly before investing any money is a must, and only invest what you’re ready to lose.