There are over 1,500 cryptocurrencies on the market, and there is fierce competition between them. This competition has spawned many coins using the latest technology and a high degree of data protection. One of those cryptocurrencies that fall into this category is the Dash cryptocurrency.
What is Dash?
Dash is an instant and semi-private cryptocurrency based on Bitcoin and Litecoin code. With Dash, you can transfer money anywhere, to anyone, instantly and with minimal fees. Unlike many cryptocurrencies, Dash can be used as an everyday means of payment, such as making personal purchases.
Dash was introduced in 2014, where it was called XCoin (the name was later changed to Darkcoin and then to Dash). The coin value at the beginning of 2017 was $ 11, and by the end of the year it was $ 200. Dash's current market capitalization is estimated at $ 1.5 billion. This made Dash the 5th largest and most successful coin in the world.
Dash Cryptocurrency Slogan: "Instant transactions with minimal fees: any amount, anywhere, anytime".
Dash cryptocurrency was one of the first projects to take an innovative approach to blockchain architecture. A notable use case for Dash as a means of payment is the proliferation of cryptoassets in Venezuela. In 2018, Venezuela's national currency, the Bolivar, depreciated by 95%. Because of this, it was almost impossible to buy anything, either for cash or using bank cards.
Then the Dash leadership began to take active steps to introduce cryptocurrency as a rescue of residents from hunger and other problems that arose with the crisis. Conferences have been held on several occasions where residents were told about Dash and its capabilities. As a result, Dash has practically replaced the Venezuelans' own currency as a way to pay for purchases and other household needs.
How does Dash work?
The main goal of Dash is to make digital money more convenient to use. Currently, you can send bitcoins for online transactions and money transfers. However, the waiting time for on-chain transaction confirmation makes it impossible to use bitcoins for payment in a real store or other transfer operations that require almost instant confirmation.
Where does Dash come from?
Bitcoin's high fees also make it a poor choice for small transactions, limiting its overall usefulness as a digital currency for buying goods and services. Dash cryptocurrency seeks to solve these problems with its innovative architecture.
What makes Dash unique?
One of the key benefits of Dash is its instant payments feature. With Dash ambitiously aiming to become a global digital currency that people can use on a daily basis, transactions in such a system must be confirmed at lightning speed. And although the time between blocks in Dash is four times faster than that of Bitcoin, it is still 2.5 minutes. This somewhat complicates the calculations in this cryptocurrency, for example, in a store or at a gas station. Dash's solution is neat: transactions are instantaneous because they are verified by the masseternode network.
Where to Buy Dash in the Philippines?
Dash cryptocurrency is most often bought and sold on specialized exchanges and on the CFD brokerage platform.
Dash is considered a reliable asset with a very promising idea. That is why you can buy Dash on the best cryptocurrency exchanges, including Binance.
However, there is another way - trading using contracts for difference (CFD). You can buy Dash in the Philippines through a special platform available through brokers using contracts for exchange rate differences. You are not buying the asset itself, you are simply making money from price movements. Everything can be done online without going to the office of the company.
You don't need a lot of investment to start investing in Dash in the Philippines, you just need some free time. So good luck!
How to start investing in Dash in the Philippines?
Investing in cryptocurrency in 2022 is an opportunity to invest in a promising instrument and get income in the future. The popularity of the direction is due to the potential for growth, a decrease in confidence in fiat money and the current trends in the development of this direction.
To predict the expected price of the Dash cryptocurrency, fundamental and technical analyzes are used together. Fundamental analysis is based on the theoretical intrinsic value of a cryptocurrency, while technical analysis is based on what is actually happening to the price at a given moment in time.
Technical indicators form the basis of technical analysis. They contain pattern-based signals that are produced by the price and trading volume of an asset and allow the trader to study and predict the future price movements of that particular asset.
To start investing in Dash correctly, analysts advise using technical indicators to study and analyze historical data on the price of an asset and other market movements in order to determine favorable entry and exit points from trades. In general, there are four categories of technical indicators, including trend indicators, momentum indicators, volume indicators, and volatility indicators.
Show the general direction of the market. These indicators are also called oscillators because they move between high and low values, forming a wavy structure on charts and charts. Examples include Moving Average Convergence Divergence (MACD), Parabolic SAR, and parts of Ichimoku Kinko Hyo.
Used to indicate the strength of a trend. They are also used to determine when a market trend is about to reverse. Most traders use these types of indicators to predict when an asset's price trajectory is about to change. Momentum indicators include Average Directional Index (ADX), Relative Strength Index (RSI) and Stochastic Oscillator.
This class consists of instruments used to determine the intensity of market orders to buy or sell a specific asset. These include the On-Board Volume (OBV) Indicator, Volume Indicator, Klinger's Volume Indicator, and Chaikin Cash Flow Indicator.
This class is used by traders to determine how often the price of an asset changes over a period. The faster the price changes, the more volatile it is. Examples of such indicators include the Bollinger Band.
Fundamental analysis and technical analysis differ, but each has its own pros and cons. Most traders choose to use a combination of both methods when they want to start invest in Dash in the Philippines. However, combining both methods still requires a lot of skill as both strategies need to be tested in different markets to determine their viability.
Novice traders are more likely to use fundamental analysis as it requires fewer technical details, while technical analysis is popular among professionals with many years of experience.
Overall, even for newbies who decide to invest in Dash, there are various educational sources available to help you craft workable strategies that combine both methods. Investing is ultimately not a theoretical subject, but very, very practical. You can get a lot of information, attend seminars, read a lot of books, but the most important thing is to get hands-on experience. Just do it and you will definitely get rich!
Is Dash a good investment?
Of the 18.9 million Dash that will ever exist, 9.5 million are already in circulation.
Should traders invest in Dash in the Philippines?
Dash has a great history and a clear future. She also has a strong community and a good reputation at the moment. The unique two-tier architecture allows for a large number of transactions and efficiently manage development. As a result, Dash is one of the top cryptocurrencies that is several steps ahead of most projects.
Dash Cryptocurrency is a great tool to have in your portfolio.
Is it safe to invest in Dash online?
To create anonymity of transactions, Dash offers a PrivateSend service, which makes transactions confidential. Thanks to it, it is impossible to trace Dash transactions and reveal the identities of users participating in it. Ensuring the confidentiality of transactions is carried out using masternodes.
How to Buy Dash in Somalia Right Now?
Before buying Dash, you need to register on one of the exchange platforms. The most popular are Binance. This exchange focuses on reliability, reputation and working conditions. The registration process will take 5-10 minutes without leaving your home. After that, you need to go through verification and confirm your identity, so that later you can withdraw money to a bank card or electronic wallet.
Before buying Dash, don't forget to choose a wallet to store your cryptocurrency. Money can be kept on the balance sheet of the exchange and immediately operate with money. But this is risky, so it is better to use special programs / services.
Buy Dash in the Philippines through an online CFD brokerage platform will allow you to buy or sell a certain number of units of an asset, depending on the decrease or increase in its value, and thanks to the leverage. Simply put, you are simply speculating on the rise and fall of Dash rates without owning, buying or selling the cryptocurrency itself.
The growing interest in making money effortlessly is leading to the emergence of various ways to make a profit in the cryptocurrency market. As the safety of the offered products grows, they become a worthy and reliable source of income. So go for it, successful bidding!