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DASH Cryptocurrency: How to buy and is it worth buying?

DASH Cryptocurrency: How to buy and is it worth buying?

DASH cryptocurrency is suitable for both investment and speculative purposes. At the beginning of its history, mining was the most important way to

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DASH cryptocurrency is suitable for both investment and speculative purposes. At the beginning of its history, mining was the most important way to acquire crypto.

In addition to mining, there are other methods of obtaining coins these days – numerous exchangers and exchangers.

DASH Cryptocurrency

DASH cryptocurrency

Exchanges

Now this cryptocurrency is quite popular and the listing phase on major exchanges is long gone. Now DASH (you can read the history of cryptocurrency here) is not only traded on major cryptocurrency exchanges, but also on all more or less large platforms. The largest activity is observed on AAX, LBank, Binance.

When it comes to buying on the exchange, you can buy tokens for both fiat and other cryptocurrencies. It just depends on whether the crypto exchange, where you plan to buy, supports fiat currency or only electronic money.

Dash Cryptocurrency 1

To buy Crypto

  1. The volume of the transaction has been determined.
  2. Select the order type (limit or market).
  3. Choose the direction of trading – buying or selling crypto.

For large volumes, it is better to choose exchanges with maximum DASH turnover. You will have to wait less for the right counter volume and your order will be executed.

Maximum profitable rate of cryptocurrency that you can get specifically on the cryptocurrency exchange.

Exchangers

Dash Cryptocurrency 2

Exchange services are convenient because they do not require complex authentication, and they work with both crypto and fiat. Today, there are dozens of online exchangers working in the DASH fiat direction.

To find the best exchange rate for buying cryptocurrencies, we recommend using aggregator websites, where data of all exchangers registered on it is stacked.

The exchange itself only takes a few minutes:

  1. The buyer transfers fiat to the requirements of the exchanger.
  2. The exchange service, after receiving fiat currency, sends the crypto to the buyer’s wallet.
  3. Since in the case of DASH you do not have to wait long for transaction confirmation, the coins will appear in your wallet very quickly.

Among the disadvantages of this option is an unfavorable rate in a number of directions.

DASH Exchange Rate

The current rate of Dash against the dollar, Bitcoin and Ethereum.

The crypto currency peaked in popularity in December 2017. At that time, the value of the token reached $ 1550. This was followed by a 20-fold collapse in value. Same with capitalization, at its peak this indicator reached $ 12 billion. At the time of writing, the DASH rate is $ 58 and the capitalization is approximately $ 1.1 billion.

The reason for the high volatility is not because of problems with the crypto itself or the unpromising nature of the project, but because of the overall situation with cryptocurrencies in the world. It should be noted that the currency’s trading volume has been high lately, so interest in DASH has gone nowhere.

What can you spend it on?

Crypto can be used as a secure way to transfer money anywhere in the world where internet access is available. In addition, more and more online stores and other services support DASH as payment for their goods and services.

Cryptocurrency is used to pay for hotel reservations, to pay for dinners at restaurants, to buy electronics and clothing at online stores.

If you have DASH coins and there are no stores in your city that support it as a means of payment for purchases, try to find the right product in online stores. The price can be even better than in fiat.

1. Weak points of the DASH currency

There are no perfect crypto projects, and DASH is no exception. Let us emphasize the main disadvantages:

  1. The possibility of de-anonymization. PrivateSend is one version of the CoinJoin technology implementation, and provides for transaction merging. Theoretically, it is possible to locate recipients simply by detecting these mergers. So there is no 100% anonymity in DASH. New addresses are constantly being added to the mix, it is difficult to locate the recipients, but it is possible.
  2. Another possibility for de-anonymization stems from another CoinJoin implementation, involving a party that knows the sender. Let’s look at the example. A user uses CoinJoin technology on a wallet with a balance of 1.2 DASH, the wallet has 0.2 DASH left, and 1 DASH is involved with CoinJoin. Of that amount, 0.7 DASH is spent anonymously, and 0.3 DASH goes to a well-known party, such as a cryptocurrency exchange or an exchanger. And the balance, which went to a well-known party, can be used to locate the sender of the crypto, and CoinJoin does not help in this situation.
  3. The third method of de-anonymization is also to locate the real owner of the crypto through a known source connection. The scheme is taken from the DASH cryptocurrency white paper. A user buys 1.2 on Coinbase. He then uses 1 DASH in CoinJoin, leaving a balance of 0.2 DASH. Anonymously, he sends 0.7 DASH, and 0.3 DASH returns to the wallet, so that’s 0.5 DASH in total. To find out who the user really is, you can simply trace the origin of that 0.2 DASH.

Finish

Note that all methods of de-anonymizing DASH cryptocurrency are complicated and if you do not break the law, it is unlikely that someone specifically will hunt for you.

And lastly – if you’re worried about the anonymity of your transfers – DASH anonymity is still higher than Bitcoin, Ethereum and other top cryptocurrencies.

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Writer: Jamie Martinez

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