How to trade Dash?

Dash is a project that adheres to the original idea of cryptocurrencies. The goal of the project is to introduce cryptocurrencies as a payment instrument into people’s daily lives. In today’s review, we will consider the essence of the project, the prospects of DASH trading, as well as reliable platforms for operations with the coin.

What is Dash (DASH)? 

Dash (DASH) – is an open source cryptocurrency that is a fork of Litecoin. This is one of the first decentralized cryptocurrencies, the advantages of which are instant (InstantSend), anonymous (PrivateSend), and guaranteed payments. The project uses a two-tier network structure consisting of masternodes and miners. 

Dash is a two-tier network that guarantees anonymity and high transaction processing speed. Confirmation of operations and generation of new blocks can be carried out in three ways: a standard transaction, an instant transaction, or an anonymous transaction. The listed functions are enabled at the user’s request. The network operates on the basis of a Proof of Work consensus algorithm called X11. In addition, the Proof of Service algorithm has also been implemented, which hosts masternodes. Masternodes are the central nodes in the Dash network. They are responsible for conducting anonymous transactions and instant payments. Dash has a high level of decentralization. All decisions on changes to the code are made by voting.

What is Dash

What is Dash trading and how it is different from buying DASH

Many users do not see any differences in buying and trading DASH, supposing the terms to mean probably the same. However it is especially important to know the difference to adjust the strategy of trading in the most beneficial way.

Buying DASH is the process of exchanging one asset on DASH. One might buy DASH for fiat, for another cryptocurrency or even get DASH as payment for this or that service. Nevertheless, after the purchase is made, DASH might be used for many other purposes, including “hodling”, which basically means keeping the coin on the account, while the price is growing.

Trading DASH differs significantly, while it includes constant buying and selling an asset, speculating on the price shifts. Due to the volatility of crypto-market, such a strategy might be very beneficial, though being rather risky.

What is the bid price, ask price and the last traded price?

During the process of trading one might face such terms as – “bid price”, “ask price” and “last traded price”. For a beginner they might sound a bit complex, so here is their meaning:

  • Bid price – the highest price that a buyer is willing to pay for an asset
  • Ask price – the minimum price that a seller is willing to take for that asset
  • Last traded price – the price of an asset on which the last transaction or trade occurred

Why should I trade Dash? 

The analysis of the Dash cryptocurrency allows us to conclude that DASH is a promising coin for the following reasons:

  • Dash is a payment-oriented cryptocurrency that is used in real life. The platform offers low fees, as well as instant, and anonymous transactions. These qualities make it extremely popular among ordinary users.
  • Dash is a cryptocurrency that is steadily growing (by more than 150% over the past year), is well recognized in the market, is in demand, and is also accepted as payment by some major service providers.

On August 29, 2021, the DASH price is approximately $238.51, and the market capitalization of the project reaches $2,459,846,868. The minimum price on February 14, 2014 was $0.2139. The maximum price on December 20, 2017 was $1,642. 22.

Where to trade Dash? 

Dash can be traded on the largest crypto exchanges, as well as on convenient crypto brokers. Among which stand out favorably:

  • Binance – the largest exchange, with an abundance of services, a variety of trading pairs and currencies, as well as low fees.

Listed coins: +350.

  • OKEx – an exchange with a wide range of tools, availability of different types of trading, high trading volumes, and high liquidity.

Listed coins: +250.

  • 7b – a crypto broker with handy financial instruments, high security, a large number of cryptocurrencies, as well as an intuitive interface.

Listed coins: +350.

Where to trade cryptocurrency

How to trade Dash using the 7b crypto broker app? 

The 7b crypto broker has incorporated the best features to provide the best user experience: a huge selection of cryptocurrencies and trading pairs, high security, as well as an extremely intuitive interface. Trading on 7b is fast, convenient, and safe. Just follow the below steps:

  1. Log in or sign up to your account.
  2. Top up your balance with one of the available payment options.
  3. Use the search bar to find DASH.
  4. Enter the amount to buy or sell.
  5. Place a market order.

Dash Exchange 

Where to exchange DASH? 

Dash cryptocurrency is quite popular in the crypto market. It will not be difficult to exchange it, you can do it as quickly and conveniently as possible on such services as: instant exchangers and P2P exchangers. What are the main advantages and disadvantages? Consider below:

Broker:

Pros Cons 
Reliability and safetyWithdrawal from the account to the wallet is required
Rare cryptocurrencies for exchange
There are no limits

Instant exchange:

Pros Cons 
PrivacySmall number of exchange pairs
Fixed/floating rate
Wallet-to-wallet swap

Several instant exchangers with a good reputation:

  • SimpleSwap – the service provides more than 300 fiat and cryptocurrency for exchange.

Service fee: included in the exchange rate.

  • StealthEX – the platform puts the privacy of users in the first place, more than 350 assets.

Service fee: included in the exchange rate.

  • LetsExchange – a simple exchanger with the function of providing a check, more than 200 cryptocurrencies.

Service fee: included in the exchange rate.

What to know before exchanging Dash? 

Before clicking on the “Swap” button, it is advisable for the user to make sure that the following recommendations are followed:

  1. Choose an exchange platform with a long service life and good reviews (which you found on independent sources).
  2. Make sure that the chosen platform provides the best exchange rate.
  3. Make sure that the recipient’s wallet address is entered correctly.

How to buy Dash for fiat? 

Purchase of Dash cryptocurrency for fiat funds can be carried out by p2p exchangers, and instant exchangers with support for a fiat gateway. For example, Dash is available for purchase on the well-known peer-to-peer platform LocalCryptos. In addition, the coin can be purchased on such reliable exchangers as Changelly and ChangeNOW. The purchase procedure is approximately the same:

  1. Specify which fiat currency you want to pay with.
  2. Enter the purchase amount.
  3. Select the payment method.
  4. Enter the recipient’s wallet address.
  5. Confirm the purchase.

Dash use cases 

Dash use cases

DASH is the native currency of the project which has the following use cases:

  1. The coin is widely used as a means of payment in everyday life. Transactions on the Dash network are characterized by low fees, anonymity, instantaneous, and security.
  2. Project governance. Dash is characterized by a high degree of decentralization, so any user with at least 5 DASH on the wallet can vote and offer improvements.

FAQ 

Is Dash a good investment? 

Yes, DASH is a cryptocurrency that already has a good reputation and is really used not only for trading, but also in everyday life. Thanks to its cheap, instant, and anonymous payments, the demand for the coin is growing, and given the limited issue, the price will grow.

How do I invest in Dash? 

Invest in cryptocurrency wisely and do not spend more than 30% of free funds, no matter how rosy the forecasts are. You can buy DASH cryptocurrency using exchanges, brokers, p2p exchangers, and platforms with support for a fiat gateway. On 7b: create an account, check the funds on the balance, select DASH for the purchase, set the transaction parameters, and confirm the purchase.

How to trade DASH for beginners? 

The price of cryptocurrency is very volatile and depends on many factors, including world news. Therefore, it is very dangerous to trade on the eve of important events. 7b is great for beginners: top up your balance, select a cryptocurrency to trade with, enter the amount, and place a market order.

What is Dash Blockchain?

Dash is a cryptocurrency that was created in order to improve the technical characteristics of Bitcoin. On the platform, you can conduct transactions in a standard, instant (InstantSend), or anonymous way (PrivateSend). The listed functions are enabled at the user’s request.

Why is Dash trading the correct decision for me?

Trading DASH in 7b does not require special skills and might bring significant benefits, due to its volatile nature, which is great for everyone, isn’t it?

Can Dash cross the 400$ mark?

Forecasting the price is a difficult task and in case of cryptocurrency, and DASH in particular, it might be literally impossible. However, the development of the technology, its mass adoption and the constant growth of demand will push the price up and one day the price might climb up to $400 or even higher.

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