While Bitcoin may be one of the largest and most well-known cryptocurrencies, Dash is poised to become one of the top altcoins. Today, we’re breaking down how easy it is to buy and hold Dash on Uphold.
When it comes to digital money, there are so many different cryptocurrencies to choose from. It’s no wonder that Bitcoin’s market share has steadily decreased, as other cryptocurrencies have continued to rise in popularity.
For many traders and merchants, Dash Digital Cash is becoming a must-have for instant, low-cost transactions. Many consumers want to have the security of knowing that their money is safe, in addition to the ability to transact instantaneously from across the globe. Dash fulfills both of these use cases and many more, allowing for zippy transactions over a secure, private network.
A History of Dash
Dash was created in 2014 by a developer named Evan Duffield. Duffield realized that while Bitcoin was creating an entirely new paradigm for digital currency, it still had room to improve. Although Bitcoin was at the forefront of the digital currency revolution, it was still slow to transact and it was lacking true privacy for users.
In thinking through these issues, Duffield envisioned a new form of cryptocurrency, one that would be able to transact instantly and anonymously across its network. In 2014, he launched Darkcoin, intentionally naming it in a way that would help users understand the anonymity that the coin provided. In March 2015, Darkcoin was rebranded to Dash, short for “digital cash,” a better representation of the broad uses for the currency.
Why Buy Dash?
In many ways Dash mirrors Bitcoin, and it’s even built on much of the same code, albeit with a few major upgrades. Dash’s proprietary technologies allow users to send dash at lightning speeds anonymously, something that Bitcoin has failed to accomplish in its current state.
This is done through a two-tiered system which involves miners and master nodes. Miners verify transactions across the network and create new blocks on the blockchain, while master nodes perform PrivateSend, InstantSend, and governance functions.
PrivateSend means that users of Dash are the only ones with access to their financial transactions and information. This is unlike Bitcoin, where each transaction is transmitted on the public blockchain for all to see.
InstantSend is a Dash option to have transactions verified instantly. This can be done via the master nodes locking in specifications for a transaction so that it can be verified almost instantaneously, without it having to be verified by miners. This innovation in speed is something that few other cryptocurrencies have been able to replicate.
These technological innovations, along with substantially lower transaction fees across its network, allow for more scalability in the form of micro-transactions for consumers looking to move small amounts of Dash in any given transaction.
How To Buy Dash
Dash can be a great addition to any cryptocurrency portfolio, and Uphold makes it easy to not only purchase Dash, but secure it along with all of your other cryptocurrencies in a simplified platform that anyone can use.
To buy Dash on Uphold…
- Sign up for an account.
- Once you have successfully created an account, you will be taken to your dashboard which displays your Uphold wallet, within this wallet you can create and customize your money cards. Each card reflects a supported currency.
- To add a Dash card to your wallet click the “add card/currency” button and find Dash to add it to your wallet.
- You will now see your Dash card in your Uphold wallet. You can add the card to your favorites and even move it around to the top of your list for easy navigation in the future.
- Next, you can click on your Dash card and click “add Funds.”
Uphold gives you many options for funding your Dash card, including…
- ACH transfers
- SEPA bank account
- External cryptocurrency address
- Once you add funds to your Dash card, navigate to the activity section of the card to see your transaction history and account balance information.
Now that you have securely purchased Dash via Uphold, it’s easy to utilize your new holdings in many ways. For instance, take your Uphold Dash card and send funds to anyone with an email address. Or, try sending the cash equivalent to a connected bank account. If you prefer, you can always transfer it between one of your other Uphold cards.
Dash has become an exciting new addition to the cryptocurrency world. At Uphold, we’re proud to support currencies that are truly innovative. Once you have your Dash card, you can also take advantage of tools like InstaSend and increase the speed of all of your Dash transactions!
We make buying, holding, converting and sending value between the 30+ digital and traditional currencies we support easy for anyone to understand and anyone to do.
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This article should not be used as or considered investment advice. If you have questions regarding cryptocurrencies, tokens or any financial investments please consult your financial advisor.