Dash coin

← Back to articles

On the 2nd day of Christmas, Satoshi gave to me… Dash (DASH)!

December 13, 2017 11:08 am Published by

At Wirex, we encourage our community to develop a strong understanding of projects before investing (as opposed to jumping in head first, under the influence of FOMO). Dash has been a team favorite of ours for quite some time.

Earlier we announced our partnership and we are working closely with the Dash development team (more on this soon). With Dash’s price getting up over $900 US dollars (as at 12 Dec), we thought it is the perfect time to explain a little about the project:

What is Dash?

Dash (short for Digital Cash) is one of the first decentralised crypto-currencies that offers its users private, secure and near-instant transactions. Many members of the crypto community believe that Dash has all the answers to Bitcoin’s problems as a currency (scalability, anonymity and network fees).

A little more about DASH:

  • Established date: 2014
  • Circulating Supply: 7,748,514
  • Total Supply: 18,900,000
  • Current Market Cap: $6.27 Billion USD
  • Notable team members:
    • CEO: Ryan Taylor
    • CTO: Andy Freer
    • Lead Developer: UDJINM6 (anonymous pseudonym)

The Price

At the beginning of 2017, Dash started at $11.40 US dollars.

Today it’s around the $900 USD mark

That’s roughly 6,917% increase in the year!

Source: Coin Market Cap

It’s no wonder everyone’s talking about it…

Why the Hype?

Dash works extremely well as a pure cryptocurrency. It has one of the fastest transaction times and lowest transaction fees.

It’s also the first cryptocurrency to reward ‘masternode’ holders with 45% of the transaction fees that they authorise. We couldn’t put it any better, so here’s a summary from dashmasternode.org explaining the concept of masternodes.

Think of a masternode as a savings account with a minimum deposit of 1,000DASH. A traditional savings account pays interest, and a masternode pays rewards which are very much like interest. In the case of a masternode, the reward (or interest) comes from performing services for the network.

Having masternodes essentially means more investors holding onto their coins, and fewer investors trading. In theory, this locks up some of the circulating coin supply and the resulting effect pushes the price of Dash, upwards.

Fun Fact

Dash was released in 2014 under the name XCoin. On February 28th, it was rebranded to Darkcoin to focus on anonymous transactions. A year later, Darkcoin was again rebranded to the name we know today, Dash, short for Digital Cash.

Buy, Store & Spend Dash with Wirex

Early next year (Q1, 2018) we’ll complete the Dash Wallet integration. So soon you’ll be able to buy, store and spend Dash within the Wirex app.

Here’s a recent episode with Wirex Community Manager, Raphael, on the Dash Podcast.

Whilst our dev team is working hard on the Dash wallet, you can still deposit Dash into your Bitcoin wallet (we’ve integrated with Shapeshift), making it ready to spend via your Wirex card.

It’s just a few taps away. If you’re new to Wirex, it’s free to sign up.

What are your thoughts on Dash?

Join the discussion in our community forum below.

Over the following 11 days, we’ll provide you with snippets on trending coins to help you sound like a crypto expert at your Christmas parties. Stay tuned for the rest…

Notable Replies

  • lan3jur

    Now this will add great value to WireX…
    DASH has always been my favourite, and no, not just for Amanda B. :wink:
    Specially now with faster transactions and lower fees!
    Can’t wait for Q1 2018!

  • Daniel_Keen

    I’m expecting big things for DASH next year, lets see what happens :rocket:

  • lan3jur

    Same here. And same goes for SYS. They have an amazing roadmap for 2018 …

  • Daniel_Keen

    I’ve been meaning to look into SYS for a few weeks but haven’t gotten around to it! Thanks for reminding me

  • lan3jur

    I’ll see if I can dig up some relevant info for you :slight_smile:

  • raphael.shalaby
The case for Stablecoins

Cryptocurrencies pegged to a stable asset (often a traditional currency), are known as stablecoins. These are considered “the holy grail of crypto” by some enthusiasts; however, the most common use case for stablecoins is as a liquidity tool for cryptocurrency exchanges. Many exchanges are denied access to traditional banking because banks are often wary of… View Article

The great mystery of currency exchange

Most of us are familiar with the task of exchanging currencies, but understanding the intricacies involved can be a challenge. Currency exchange appears to be a relatively simple transaction; in fact, the mechanics are quite complex. To help make things clearer, here’s an explanation of a few basic terms that will help you get to… View Article

How Singapore is becoming a crypto-hub

When it comes to cryptocurrency adoption, the Asia-Pacific region is way ahead of the curve. The likes of South Korea, Hong Kong, China and Japan were early adopters of crypto and blockchain technology; now, Singapore is quickly emerging as a world leader in the mainstream adoption of digital currency. Regulatory Stance The Monetary Authority of… View Article

ICO image
Why Wirex is not an ICO

Initial Coin Offerings (ICOs) have received a lot of press but not always for the best reasons. Experts estimate that over 80% of ICOs have fraudulent intentions. Unfortunately many people tend to associate any company that works in the crypto space with ICOs, and this may have a negative effect on the entire industry. So,… View Article