What Are the Benefits of Dash trading in 2021?

21 March 2021 | Updated: 21 March 2021

At its core, Dash is a very convenient cryptocurrency that didn’t aspire to change the way cryptocurrencies work like Ethereum and Ripple. Unlike them, Dash doesn’t divert from the same road of Bitcoin and the authentic vision of Satoshi Nakamoto. Its aspiration revolves around being a practical alternative to fiat currency as a method for everyday transactions.

Nevertheless, Dash is much more than just a Bitcoin copy as it seeks to improve on some elements of Bitcoin that people consider to be flawed and it addresses some main problems such as slow transaction processing times and some privacy issues. Masternodes, InstantSend, and PrivateSend are some features used by Dash in order to differentiate itself as a unique cryptocurrency.

Also, when talking about market capitalization this crypto is the 14th largest cryptocurrency at the current moment. Even though it still lags behind Bitcoin it is very promising and the catching up is not that distant. It is very clear since the beginning that Dash is a cryptocurrency that is worth keeping an eye on.

What Are the Main Advantages of Dash?

  1. It’s decentralized
  2. It reaches a consensus on decisions much easier than Bitcoin
  3. Very fast transaction speeds
  4. Privacy

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1.Decentralization

The majority of the cryptocurrencies that we know are decentralized to some degree, but naturally, some are much more decentralized than others. Dash is an open-source cryptocurrency. It is also known as a decentralized autonomous organization (DAO) that is currently operated by the “masternodes”, a name that is used to refer to a subset of its users. The currency allows transactions that can be very hard to track and trace or even untraceable.

When key decisions are being made on Dash, there are over 4,500 members that are able to express their ideas and opinions, as well as three major groups that make the key decisions. This is a fact that makes Dash one of the most decentralized known cryptocurrencies.

  1. It reaches a consensus on decisions much easier than Bitcoin

The governance system of Dash makes it possible for it to be able to reach consensus on decisions much easier than Bitcoin, which is also known as its biggest competitor. Bitcoin Has a rough time when trying to implement improvements due to not being able to reach consensus. Dash doesn’t suffer from this same problem as consensus is reached way easier than other cryptocurrencies.

  1. Very fast transaction speeds

Transactions with dash can be sent and confirmed within a few seconds thanks to Dash’s ‘InstantSend’ feature, whilst it takes up to an hour for Bitcoin to be able to do the same.  When using Dash, you are able to send money anywhere in the world and the need to go through any middlemen is completely eliminated. This makes it possible for users to avoid transaction fees and also send money all over the world very quickly. Dash also integrated with a Bitcoin debit card provider in September of 2017 and this proved to be a move that allowed Dash to be used in all the places where visas are accepted, which translates to a total number of over 40 million merchants throughout the globe. This also means that you are able to withdraw Dash funds at any ATMs throughout the world.

  1. Privacy

When it comes to privacy, it is something that is regarded as a very important matter by the majority of cryptocurrency users.

Unlike Bitcoin which makes it possible to transact money only pseudonymously, Dash’s ‘PrivateSend’ feature makes it possible for users to be able to make completely anonymous transactions.

This cryptocurrency allows the user to make a choice whether they want their transactions to be anonymous and private using its PrivateSend feature. This is great for users who prefer to stay within the regulatory standards of their respective countries, as it allows them to be able to do so freely. The way these feature works is by making the origins of your funds obscure. Keep in mind, that the transaction fee will be slightly higher when you choose to use the private send feature of this cryptocurrency. This is achieved by utilizing an innovative decentralized server network, which is known as master nodes, through a mixing protocol.

 Should I Buy or Trade Dash in 2021?

When trading in the cryptocurrency market, people have two main options. They can use exchanges to buy actual cryptocurrency, for example buying Dash on an exchange like Binance, so they become the owners of Dash themselves. This investment is regarded as long-term, as when the price starts to rise significantly, the buyer can then sell the crypto coins that they purchased on another exchange. As an alternative to this, a contract for difference (CFD) can be traded on a particular cryptocurrency, and the price difference can then be speculated.   

You might be interested in buying Dash if…

  • You want to take full ownership of the amount you buy.
  • You don’t mind paying the full value of the asset upfront.
  • You don’t mind waiting for prices to rise.
  • You want to make long-term investments.

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Key Points:

  • Dash is a very convenient cryptocurrency that didn’t aspire to change the way cryptocurrencies work like Ethereum and Ripple. 
  • Dash doesn’t divert from the same road of Bitcoin and the authentic vision of Satoshi Nakamoto. Its aspiration revolves around being a practical alternative to fiat currency as a method for everyday transactions.
  • Dash is much more than just a Bitcoin copy as it seeks to improve on some elements of Bitcoin that people consider to be flawed and it addresses some main problems such as slow transaction processing times and some privacy issues.
  • Masternodes, InstantSend, and PrivateSend are some features used by Dash in order to differentiate itself as a unique cryptocurrency.
  • When talking about market capitalization this crypto is the 14th largest cryptocurrency at the current moment. Even though it still lags behind Bitcoin it is very promising and the catching up is not that distant.
  • Dash is an open source cryptocurrency. It is also known as a decentralized autonomous organization (DAO)
  • The currency allows transactions that can be very hard to track and trace or even untraceable.
  • When key decisions are being made on Dash, there are over 4,500 members that are able to express their ideas and opinions, as well as three major groups that make the key decisions.
  • The governance system of Dash makes it possible for it to be able to reach consensus on decisions much easier than Bitcoin, which is also known as its biggest competitor.
  • Transactions with dash can be sent and confirmed within a few seconds thanks to Dash’s ‘InstantSend’ feature, whilst it takes up to an hour for Bitcoin to be able to do the same.
  • Dash can be used in all the places where visas are accepted, which translates to a total number of over 40 million merchants throughout the globe.
  • Unlike Bitcoin which makes it possible to transact money only pseudonymously, Dash’s ‘PrivateSend’ feature makes it possible for users to be able to make completely anonymous transactions.

 

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  • Trade thousands of CFDs
  • Deposit funds with a debit/credit card, Paypal, or bank transfer
  • Perfect for newbie traders and heavily regulated
  • Only real cryptos are available for US users
67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Granit Mustafa

Crypto Enthusiast, SEO specialist, and Content creator.