One of the best ways to describe Dash would be, 'the ultimate cryptocurrency you've never seen.' That is of course if you follow cryptocurrencies on a regular basis. Dash stands for 'digital cash,' which is basically what all cryptocurrencies are looking to become. Dash just happens to be the company that took the term under their moniker.
If you're new to the crypto-world, then you may have only heard of Bitcoin, possibly Ethereum as well. But you'll likely be unfamiliar with the Dash platform.
Also known as DigitalCash, Dash is increasing in value quickly, however, so it's wise to pay attention to the newly developing cryptocurrency. It's price increases are starting to climb at a very rapid rate. Dash was formerly known as Darkcoin and Xcoin, and in 2017 has seen some pretty incredible price jumps. For example, on January 1st, 2016, Dash was at $11.04, but by November 30th, 2017, it had a coin price of $780.75.
The massive skyrocket gave Dash a considerable market cap of over USD$6 billion. That's not a bad climb for an altcoin that most people have never heard of.
Why Dash Vs. Bitcoin?
One reason Dash is such a fantastic currency is because it has a lot of room for growth and a theoretical maximum supply of 18.9 million coins. And because of that cap, Dash is nearly impenetrable when it comes to suffering from inflation. This could even put Dash as more valuable than Ethereum. There is no maximum supply for Ethereum, yet it is still the second largest currency in the crypto-space. Dash may even be able to surpass Ethereum in the long run. Ethereum could be very susceptible to inflation and hyperinflation.
Hyperinflation is what happens when unlimited amounts of money are created to pay bills. We see it happen in different governments all over the world. Some of the creativity behind Dash is that they could prevent inflation by limiting the amount of supply that is allowed to be made. But the only issue with that methodology is that no one knows if it will work. Dash, like all cryptocurrencies, is a new technology in the process of refinement. The solution could be wholly theoretical and end up holding no weight in the long run.
What Makes Dash Unique Vs. Other Cryptocurrencies?
Since Dash has a cap, as do many other currencies – an automatic scarcity is created around it. The most valuable things in the world are the rarest, i.e., diamonds, gold, artwork that of Picasso, Da Vinci, and Van Gough. The principle is that because there is a limited amount of Dash, it will become one of the most expensive altcoins, just like Bitcoin.
Dash is also said to be a good investment versus other altcoins since it's not as widely accepted as many of them. There are still a lot of merchants that accept the currency, but they are only listed on the Dash website. However, Bitcoin and Ethereum are recognized by major retailers and even being adopted by large monetary and financial institutions. Even banks and world governments are starting to take on the larger cryptocurrencies which could set in place different regulations. As long as Dash stays out of the hands of the major contenders, it could again make it a scarcer cryptocurrency.
Several different companies plan on offering debit cards that run on Dash tokens. The cards would give the advantage of being able to be used in traditional brick and mortar stores. At some point, one could even get cash straight out of ATMs by converting Dash to fiat. The only issue here is there is no telling how many of these Dash cards will be available.
Live Dash (DSH) Price Chart
Best Dash Trading Strategies
One of the significant issues with Dash is that it is not available on some of the major exchanges and wallets like Coinbase. There are still a wide range of different wallets and exchanges that do accept Dash, however. You can find it with different brokers as well. Kraken, Poloniex, Shapeshift, Bitfniex, and Whaleclub all accept Dash, as does Bitpanda and Changelly.
How to Profit from DashCoin Trading
One of the best ways to profit from this is through mining. Dash can be mined, and there are several packages sold through Genesis. You may have to work for another miner, but it is an excellent place to start.
How Safe is DashCoin Trading?
Mining pools are safe, but you must research miners carefully. They also take a lot of time. Additionally, when it comes to trading in percentages of coins, make sure the coin has a high enough value for you to profit after selling fractions of it.