What is Dash?
Dash is an open source, private blockchain altcoin. The name of the coin comes from the words "digital cash", which means digital money. The history of Dash begins in 2014, when the cryptocurrency was created as a fork of Bitcoin by Evan Duffield, ex-director of the Dash Core Project and the developer of the original Dash wallet. Developers have improved the blockchain by making transactions faster, cheaper and more private, allowing them to be mixed to hide the real addresses of senders and recipients.
The original names for Dash were Darkcoin and XCoin, but after the rebranding, the team decided to rename the coin to better reflect its essence.
The Dash Core Group, Inc., behind the cryptocurrency, is actively promoting its product, making it possible to buy it on over 220 exchanges and store it in almost all popular wallets. The company also took care of creating its wallets for Dash in the form of desktop, mobile and even text versions.
Pros of Dash cryptocurrency:
- Dash can be used for commercial transactions and can be spent anywhere. Thanks to its fast transactions, this coin can be used for regular trading. In addition, traders are interested in selling for a currency that is growing day by day;
- You can enable a feature known as PrivateSend that can mix coins through master nodes to make transactions completely anonymous and untraceable. Unlike Bitcoin, which has become a false symbol of anonymity, Dash is able to hide transaction data;
- Payment confirmation is much faster than other cryptocurrencies;
- The security of the transaction is confirmed by miners who jointly host thousands of servers around the world. Unlike centralized banks, Dash is significantly more stable. By destroying one server, you will not violate the integrity of the blockchain;
- It is a cryptocurrency focused on purchases rather than mining. Nevertheless, mining it is also quite profitable. But the payment capabilities of this crypt clearly prevail.
Where does Dash come from?
The user must make a deposit of at least 1000 DASH in order for his equipment to become a Masternode. Masternodes act as special servers that perform critical functions in the crypto network. They are responsible for private transactions (PrivateSend), instant transactions (InstantSend) management system and treasury. These nodes increase the security of the network and ensure that transactions are completed as quickly as with cash. It takes money and effort from the masternodes, so they are rewarded by the network.
How does Dash work?
Dash provides instant transaction speed through a system of nodes - masternodes and InstantSend technology. Therefore, it is an excellent payment tool for making household purchases on a par with cash and plastic cards. Secondly, Dash is an anonymous cryptocurrency. Anonymity is provided by masternode systems and the PrivateSend mechanism.
What makes Dash unique?
Dash was one of the first protocols to implement a masternode system and decentralized autonomous organization. For the mining of Dash cryptocurrency, its own unique algorithm was created, which was named X11. This algorithm requires sequential re-hashing. X11 requires 30% less power than Scrypt.
Where to buy Dash?
It is easy and simple to buy Dash without leaving your home!
The Dash coin is in high demand, so you can invest in Dash on popular exchanges and brokerage trading platforms. Dash is considered a promising and reliable asset, which is why it is on the lists of the best cryptocurrency exchanges, including Binance.
You can buy Dash on the CFD brokerage platform. CFDs allow you to trade Dash price changes without actually owning the cryptocurrency itself. That is, trading is carried out in contracts that reflect the change in its price. The trader's job is to make a profit without actually owning Dash, so we don't need to use wallets, bother with security issues, etc. This makes investing in Dash safer and easier.
How to start investing in Dash?
Money management rules in trading are something that many traders who decide to invest in Dash cannot do without. In fact, we can say that using simple rules and emotional restraint, a trader can make money in any market.
Every trader should know the instruments (orders) that limit the size of the loss. These orders are obligatory for practice and study:
- Limit - an order at a specified value.
- Market is an order of the current rate.
- Stop limit - is activated when the target price (stop price) is reached, not higher or lower than the specified limit.
- Stop market - when the target price is reached, it is activated at the market price.
We distribute the deposit
Until you get your hands on deals:
- Do not open a deal for the entire deposit;
- Break the deposit into parts;
- Determine the amount of risk - money that you are ready to lose if the deal goes wrong. For example, you have 1000 $ deposit. $ 200, you allocated for the deal and entered at the price you need. You are ready to lose 1% of your deposit. At $ 1000 - this is 10%, which means that the Stop Limit is set exactly at the price of this risk.
Before investing in Dash, identify the risks. Profit / loss ratio.
Don't be fooled!
Moments that beginners often get caught in:
- The desire to win back immediately - the probability of the deposit draining is huge!
- Desire to be the coolest - to prove something to friends, subscribers, etc. that you know the market. Nobody knows him. There are a lot of factors!
- Personal emotional instability outside the market (personal) can interfere with common sense. It is best not to trade during such periods.
Very often, having a good plus, a trader is looking forward to it even more. This is fine. But when entering a deal, a trader must understand that he will not be taking profit alone, but the closer the round number of the course, the more people who want to start a sale on it.
Start closing profits earlier than others or place a pullback order. Newbies often forget about it and end up closing the deal with a loss! Stop at profit is the golden rule of every trader. Try it and you will definitely succeed!
The practice of trading in the cryptocurrency market can bring a lot of valuable experience, especially if the approach to it is complex, based on cold calculation, excluding the adoption of impulsive and unreasonable decisions. Both fundamental and technical analysis are quite applicable to the cryptocurrency market. On the other hand, the conjuncture of this market is highly dependent on "loud" news, messages about the achievements of developers and resonant statements of prominent economic and political figures.
Fundamental analysis is designed to assess the real value of an asset, to determine how much its price at the moment corresponds to the realities of the market. It should be noted that the news of the world of cryptocurrencies is released without a clear reference to any schedule or economic calendar. In the world of cryptocurrencies, everything happens much more spontaneously and unpredictably. This, in turn, makes it difficult to predict market trends and prices of individual coins in the medium and long term.
Analysts say there is no analysis, no approach that works 100% of the time. Consequently, the continuously flowing market information should be analyzed comprehensively.
Technical analysis is a set of tools for predicting the likely price changes based on the patterns of price changes in the past in similar circumstances. The basic analysis is based on the analysis of price charts and order book. Many charts are also often used to display price over time. The analysis itself is partly based on mathematical and statistical calculations.
Best technical indicators to invest in Dash:
- On-balance volume: This is a technical indicator that uses the changing trading volume of an asset to predict prices.
- Accumulation / Distribution Line: This indicator is used to measure capital inflows to and from the market.
- Average Directional Index (ADX): This indicator measures supply and demand for an asset to determine the strength of existing price trends in that market.
- Aroon indicator: This indicator is used to determine the strength of a trend as well as changes in the movement of an asset's price.
- Moving Average Convergence Divergence (MACD): Investors and traders use this indicator to determine the strength of an asset's price trend.
- Relative Strength Index (RSI): It is a momentum indicator that determines whether an asset is overbought or oversold by assessing the magnitude of recent price changes.
- Stochastic Oscillator: Similar to the RSI, the Stochastic Oscillator is a momentum indicator that identifies overbought and oversold conditions in the market.
When you start investing in Dash, complement your technical analysis with fundamental ones. But remember that the psychological component is extremely important in crypto trading, which is especially relevant in conditions of increased volatility. Therefore, do not forget the rules of risk management, which are very important for successful trading. This is a strict and cold calculation to achieve goals. All traders who stay in the market always come to the conclusion that this is one of the keys to successful trading. Good luck!
Is it safe to invest in Dash online?
Dash cryptocurrency offers a secure way to transact without the need for any third party intermediary. Dash, a blockchain-based cryptocurrency, offers a secure option by making the process decentralized. Rather than relying on a centralized entity like a bank, Dash transactions are confirmed by 4,943 servers around the world.
Is Dash a good investment?
The official website states that in Q1 2020:
- The average number of transactions per day using a coin is 17,127;
- Transaction speed - 1 second;
- Coin payments are accepted by over 4,800 suppliers of goods and services;
- The coin is available for trading and exchange on more than 220 exchanges and trading brokers.
Dash is a great tool to have in your portfolio.
Should traders invest in Dash?
Dash allows you to make money transfers to relatives, friends, and make settlements in the field of business. The company's website has a complete list of organizations that accept payment with this cryptocurrency. Dash is used all over the world as an alternative to cash and credit cards. The coin is especially popular in countries where there are technical obstacles to using classic payment methods, as well as where the national currency becomes unattractive due to hyperinflation.
How do I buy Dash right now?
It is easy to buy Dash on the online CFD brokerage platform by spending a minimum deposit. CFD stands for Contract for Difference and is technically what you trade and not the cryptocurrency itself. Basically, it is an agreement between you and a broker to buy cryptocurrency at a specific price. By investing in Dash with CFDs, you do not own the cryptocurrency. This is somewhat safer, since the likelihood that something will go wrong, for example, stolen cryptocurrency, is less.
If you decide to buy Dash on the exchange, please follow the basic rules:
- Log into your account only from your computer and with VPN enabled;
- Don't use public Wi-Fi. Hackers can specifically organize a point to intercept your traffic and use it for their own purposes;
- Think about your savings. If something happens to you, loved ones should know how they can access your savings.
Dash can be purchased and stored in various types of wallets such as hardware, cloud, and you can even choose the services that are available for mobile and desktop devices.
If you already have some money saved, start investing in Dash now. If you make some mistakes, especially at the beginning, don't be discouraged, this is a hands-on experience. It is important to learn from them in order to benefit from them in the future.
Only competent preparation can give you confidence in your work!