Dash is a well-known cryptocurrency project and is a so-called fork of Bitcoin. It resembles Bitcoin in many ways. Dash offers certain advantages in some areas in comparison with Bitcoin, though. For example, transactions with Dash are fast and secret.
On this page, you can read a short introduction to Dash and you'll get some tips for when you decide to buy or sell Dash.
Dash was born in 2014 in response to Bitcoin. The goal of this cryptocurrency, then still called Darkcoin, was to shorten the transaction time. Because Dash is a fork, the code is very similar to Bitcoin. The team behind Dash has implemented a number of improvements to its code. The team of developers is known for quickly implementing new ideas. As a result, Dash is often ahead of the rest.
Dash's network has two layers where Bitcoin has just one. In the first layer, Dash processes transactions just like Bitcoin does, through miners that add data blocks to the blockchain. However, it is in the second layer where Dash seems to have an edge. The second layer makes it possible to make direct payments with InstantX. Also, private payments can be made through the second layer using the Darksend function.
Dash works with so-called Masternodes. These are nodes that form the infrastructure on which these functions are based. Anyone can run a master node as long as they have at least 1,000 DASH in their wallet. This ensures that they are less likely to perform actions that could disrupt the network.
Buy Dash (DASH) safely and easily via Knaken+
First of all, do some more research on the project and the companies that sell Dash. The network's cryptocurrency is DASH. The altcoin can often be bought on the largest and well-known cryptocurrency exchanges such as Binance, Kraken, Coinbase, and more.
Do you rather want to buy your Dash through a company closer to home? This can be done through over-the-counter (OTC) platforms. In contrast to exchanges, you do not have an order book that is visible to everyone. Transactions are more private and in many cases, you can pay with more convenient payment methods. An additional advantage is that the Dash that you buy via such a platform gets deposited directly in your own cryptocurrency wallet. This way you can make sure your Dash is safe at any time.
Sell Dash (DASH) safely and easily via Knaken+
You can sell Dash in many places. For example, you can choose to sell your Dash via an exchange as mentioned above or via an OTC platform. As you will read in the section below, it is important to first properly investigate the party you want to sell your Dash to.
Knaken helps you buy or sell Dash safely and easily. It doesn't matter if you are a beginner or a veteran. These three simple steps apply to everyone.
• Select your cryptocurrency
• Pay via payment methods such as IDEAL.
• Receive and manage your crypto in your Knaken dashboard or your own wallet.
Why do people buy or sell Dash?+
There are several reasons why you might want to buy or sell Dash. One of them is that you find Dash an interesting investment because you believe in the technology that the Dash team is working on. You may also want to actively trade with Dash. This means that you buy Dash when the price is low and sell it again when the price is higher.
It is also possible that you want to use Dash for what it is intended for; making transactions. In that case, it's an idea to stock up on Dash and keep it safe.
Why choose Knaken?+
• Safe & Easy.
• No extra costs.
• Manage crypto via your Knaken Dashboard or your wallet.
• Knaken has its own exchange.
Important tips when buying/selling Dash+
One of the most important tips for when you decide to buy Dash is to make sure you have a good cryptocurrency wallet. When you buy Dash through an exchange, the Dash will appear in your account. In this case, the Dash is actually stored in the wallet of the exchange where you can trade with it.
While this is easy, it is not necessarily the safest option. It makes more sense to have at least a personal wallet. The safest option is a hardware wallet like the one from Ledger. You can see it as a USB stick that is not connected to the internet, making it almost impossible for hackers to get to your Dash. But also with these wallets, you have to keep your private key safe.
Do you want to buy Dash through an OTC platform? First investigate the company behind the platform properly. Use Google and search for the name of the company, consult Trustpilot for reviews and ask friends for experiences. If a website looks a bit suspicious, do some extra research before deciding to buy or sell Dash.
The cryptocurrency world has made many people rich, but also a lot of people have lost a lot of money. So think carefully about how much money you want to put into Dash. Do not just follow the advice of others, do your own research and base your decision on the outcome of this research.