Dash Cryptocurrency in Singapore: Should I buy? Tips & Advices

Dash is a cryptocurrency enabling anyone in the world to make quick and easy payments at any time and anywhere in the world without the necessity of a central authority. The cryptocurrency is based on a decentralized peer-to-peer network and secured by strong cryptography. It is a safe and user-friendly payment system that is portable, inexpensive, and fast digital cash for both the internet and everyday life.

A) History and features of Dash cryptocurrency

Dash was founded in 2014 by Evan Duffield – a software developer who had been studying Bitcoin since 2011. It was created to ensure user privacy and anonymity and was originally launched as Xcoin and later was rebranded as Darkcoin; and finally landed on its current name, Dash, in March 2015.

While it still comes with strong encryption features, the company has since redirected its goals. The company now intends to become a medium for daily transactions as a virtual currency that can be used as a credit card, cash, or via PayPal.

Dash is run by a subset of its users, which are called “masternodes.” Basically, these masternodes were invented as a unique feature of the Dash network that forms a subsequent second layer to make sure the blockchain is readily available to all network participants. Moreover, these masternodes also carry out other functions related to the health and efficiency of the network, such as securely storing user data, governance, processing transactions for light wallets, and much more.

B) How you can benefit from using Dash in your daily life?

Dash allows you to take full control of your money and offers several benefits that provide it an edge over other cryptocurrencies like Bitcoin and Litecoin. It can be used to make global transfers, in-store purchases, online retail purchases, and much more. With Dash, there are no exchange rates, bank holidays, bureaucracy, or hidden fees to deal with.

Moreover, due to its low fees and fast transaction process, Dash is also used as a practical alternative to cash and credit cards everywhere in the world. Additionally, it is also a handy solution in the international remittances market. It is mainly popular in places where there are technical barriers to traditional payments, or where hyperinflation has made existing currency impractical to use.

Frequently Asked Questions About Dash Cryptocurrency

#1. Who controls Dash?

Dash is an open-source platform and is not under the control of any single entity. Any person can write software to transact on the Dash network without needing any permission from a central authority. Apart from minimal fees required to prevent spam attacks, there are no other barriers to use Dash.

#2. Is Dash a good investment??

Since most of the cryptocurrencies have gone from pennies to hundreds and thousands of dollars in less than a decade and far outperformed pretty much any other investment, Dash is also a good investment option as it has performed relatively well, going from pennies to over a few hundred dollars.

#3. How to buy Dash coin?

One of the basic steps to start investing in the crypto market is to open an account with a broker that supports cryptocurrency investing. Similarly, to buy a Dash coin, you can register or open an account on any crypto trading platform offering you to purchase the cryptocurrency and start investing.