Before trading any crypto assets it is important to understand the risks. This overview summarizes certain risks associated with DASH.
The U.S. The Securities and Exchange Commission (SEC) has expressed an opinion about DASH, including an opinion that DASH itself is a security.See the SEC’s June 2023for more information.
Token Description & Project Background
Dash was conceived in 2014 as Xcoin by Evan Duffield. It was rebranded to Dash, short for Digital Cash, in 2015. It is governed by the DASH Dao as of 2017.
Dash is an altcoin, initially a fork of Bitcoin, and the project’s goal is to become the crypto of choice for society to spend and hold. The project’s strapline is, “Dash is Digital Cash you can spend anywhere.”
Unlike Bitcoin, Dash shares its mining block rewards in three ways:
- 45% goes to a pool shared by Masternodes
- 45% goes to the miners
- 10% goes to the virtual Dash corporation to function efficiently
This creates a clear incentive model for Dash miners: if the volume of transactions increases, more profit is made, meaning the Masternode and miner incentive pool grows, encouraging more Masternodes and miners to join and keep transactions fast and secure.
Risks of DASH
Like an investment in other crypto assets, there are some general risks to investing in DASH. These include: (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto assets and Uphold’s platform, please refer to thestatement.
In addition to these general risks, an investment in DASH is subject to the following specific risks:
- There is speculation that many masternodes are owned and run by the development team. That has raised questions about Dash’s decentralized nature.
We emphasize that this Crypto Asset Statement is not an exhaustive description or summary of all risks associated with ● . Investors should conduct their own research and perform their own assessment before trading any crypto asset to determine the appropriate level of risk for their personal circumstances.
The DASH community and Dash DAO are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of DASH have no recourse to the DASH community, Dash DAO, or Uphold if DASH declines in value for any reason.
Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto assets, and such changes may be sudden and without notice.
Uphold’s Evaluation Process
Prior to listing DASH on the Uphold Platform, Uphold performed due diligence on DASH and determined that DASH is unlikely to be a security or derivative under relevant securities legislation. Uphold’s analysis including reviewing publicly available information on the following:
- The creation, governance, usage, and design of DASH, including ensuring the source code being open-source, audited and peer reviewed, security, and roadmap for growth in the developer community.
- The supply, demand, maturity, utility, and liquidity of DASH.
- Marketing materials put forward by the DASH social team including, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.
- Material technical risks associated with DASH, including any code defects, security breaches and other threats concerning DASH and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.
- Legal and regulatory risks associated with DASH, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of DASH.
Uphold has prepared this Crypto Asset Statement based on publicly available information. Although Uphold has taken steps to obtain information from apparently reliable sources, information contained in this Crypto Asset Statement may be inaccurate, incomplete or out-of-date. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.
Uphold users should read thestatement for additional discussion of general risks associated with crypto assets made available through the Uphold platform.
Canadian residents, please note that Uphold has filed an application for registration in certain Canadian jurisdictions but has not yet obtained registration. Until such time as Uphold obtains registration, Uphold has agreed to abide by the terms of an undertaking available at the following. Please also review the for additional discussion of general risks associated with the crypto assets made available through Uphold Platform. Please be aware that statutory rights of action for damages or rescission in section 130.1 of the Securities Act (Ontario) and, if applicable, similar statutory rights under securities legislation in the other provinces and territories of Canada do not apply in respect of this Crypto Asset Statement or other disclosures on the Uphold website and statement.
Last updated on June 5, 2023.
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