Another day another cryptocurrency. Digital cash or Dash advocates itself as peer-to-peer decentralized electronic cash. It intends to be as liquid as real cash which we use in our respective countries like USD/GBP/EUR/INR or CNY. Hence a more promising alternative to Bitcoin.

Below is a brief overview regarding the cryptocurrency, so get ready for another blockchain intensified ride!!

What is Dash

This is a next-generation digital currency based on the Bitcoin software. But Dash has solved many of the problems inherent in Bitcoin by speeding up transactions, offering enhanced financial privacy, and developing decentralized governance and funding system.

Like bittorrent, Dash is a fully decentralized peer-to-peer (P2P) network. Because of this, you don’t have to trust a bank or other centralized service. Everything stays between you and the other party in the transaction.

In other words, Miners are rewarded for securing the blockchain and masternodes are rewarded for validating, storing and serving the blockchain to users.

Masternodes represent a new layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy and governance, while eliminating the threat of low-cost network attacks.

Why choose Dash

Although build up on Bitcoin, Dash has some pretty enviable attributes; speed, low fees, self-funding, private and secure.

Dash transactions are confirmed in four seconds, while sending Bitcoins to someone can take 10 minutes or more. Then there are the fees. The average Bitcoin transaction fee is around $6, compared to only $0.4 you have to pay to send someone Dash. But the fee will increase when more people start using the cryptocurrency.

Dash is self-funding, unlike Bitcoin. 45 percent of newly created Dash goes to the miners, and 45 percent to masternodes. The rest 10 percent goes to a treasury for funding the development team, marketing, customer support centers, and so forth.

Furthermore, Dash keeps your payments private so nobody can track you. Your transactions and balances are nobody’s business. With Dash’s ahead- of- time anonymization, only you have access to your financial information.

Value of Dash in crypto Market

Though Dash has not run away to its target of $1,199.01, it’s sustaining above $815 levels, which is a positive indication. Bears attempted to push the cryptocurrency back below $815 levels on Dec. 15, however, they were unsuccessful.

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This increases the possibility of an upside breakout of $979 and a rally towards the target objective. The bullish view will be invalidated if the digital currency falls and sustains below $815.

Traders who had purchased long positions on our earlier analysis should raise their stops to $780 on the remaining 50 percent positions.

Where and How to buy Dash

You can buy Dash like any other cryptocurrency. Make an account on an exchange like BitPanda or Kraken and buy Dash with your local currency. There are also a few locations in the US where you can buy Dash from an ATM. It’s the easiest way to get the cryptocurrency, although the fees are high.

However, you don’t need to worry for we are also giving away a guide on how to buy the cryptocurrency from Binance. Keep scrolling to know how.

• First you need to install a wallet on your computer to store your Dash coins. We recommend the official wallet downloaded here.
• Upon completing the setup and installation proceed to secure your Dash wallet by encrypting it from the settings menu.
• Now let’s get a receiving address for your wallet so we have somewhere to send our Dash coins to once we’ve bought them. Click the ‘Receive’ option. You can safely ignore all the options presented here. Press ‘request payment’. A pop up will appear showing you payment information for your wallet. Copy you wallet address as we’ll need it soon.
• Now you exchange the already owned cryptocurrency for Dash. We’ll use the site Binance to exchange your Bitcoin for Dash. Click here to go to Binance, and click ‘Register’ on the top right menu.
• Enter your email and a strong password (that you won’t forget!). Click ‘Register’.
• Once the email is confirmed, you will be taken back to Binance as your email is confirmed. Press ‘Login’. On the login form, enter the email and password you just used to sign up, then press ‘Login’.
• Hover your mouse over ‘FUNDS’ on the top menu and click on ‘Deposits Withdrawals’.
• This screen displays any coins you have stored on Binance- obviously none at the moment.
• Type ‘BTC’ in the search box, or whichever crypto coin you want to exchange. This will narrow the wallets displayed. Press ‘Deposit’ on your desired option. You will be given the desired deposit address (a long string of numbers and letters). Copy this address and keep it somewhere safe as we’re going to need it soon.
• Now, return to Coinbase. Click ‘Accounts’ from the top menu, and then find your Bitcoin wallet listed on the left. Click ‘Send’.
• In the ‘Recipient’ box, paste the desired wallet address we just copied from Binance. In amount, type how much Bitcoin you wish to send (there is a ‘use max’ option if you wish to send it all). Click ‘Continue’. Coinbase may ask you to confirm with your password/phone. Follow the instructions until it confirms your selected currency is sent.
• Once the desired coins show in your ‘available balance’ you’re ready to trade for Dash. Click here to jump straight to the DASH/BTC exchange market on Binance.
• Press ‘Funds’ along the top menu, then ‘Deposits Withdrawals’. In the search box, type DASH. You will now see your new DASH in your DASH wallet.
• Now let’s move these coins to your personal wallet.
• Click the ‘Withdrawal’ button. In the boxes that appear, fill in this information: Label: Write ‘My wallet’ Address: Put the wallet address that you copied from Dash wallet. Amount: Press the ‘Max’ button to send all your DASH. Once you’re sure all this information is correct, press ‘Submit’.
• Go back to your wallet. Close the payment request. Click ‘overview’.
• Once your wallet has successfully synced with the blockchain you should see your Dash coins appear in the ‘available’ balance. And you have finally got yourself some fancy Dash coins!!

And that pretty much sums up what Dash is and its potential in the crypto market. A word of warning like always; investing in cryptocurrency is risky, for they are quite volatile. So invest the amount you can manage to lose.