Dash Coin: Price, Predictions, Experts Analysis & Where to Buy
Digital currency is the new gold rush. From Bitcoin to Litecoin, there are many digital currencies out there that are making huge gains in the market. Dash coin is one of the newest contenders on the scene. But what is it, and how does it work? Does Dash coin have potential to become a valuable investment? When will the price go up? How much will it cost in 2021? We look at these questions and more below. Read on for an extensive analysis of Dash coins.
What is Dash coin?
Dash coin is the fifth cryptocurrency in circulation (after Bitcoin, Bitcoin Cash, Ethereum and Litecoin) and is created using a process known as “air-drop”. This is similar to Bitcoin but the main difference is that Dash coins are released at regular intervals over an extended period of time. Each digital currency that is produced is divided up into 100 million pieces, and 50 million are released. Another 50 million Dash coins are released in an air-drop every 4 years. Therefore, every four years, 1 billion Dash coins are produced. This is important to mention as this air-drop is designed to create scarcity and to create value. For example, if there are 1 billion Dash coins created every 4 years, then as the Dash coin supply rises, the price of a Dash coin will fall. How is it created?
How does it work?
Dash coins have three main attributes: speed, privacy and decentralization. Speed Speed is critical to the success of digital currency, and Dash has improved on every level from 2014. Dash (DASH) is quick to process transactions and to transfer funds. Speed affects the ability of a currency to scale. On one hand, Dash has more transactions per second than Ethereum, making it the quickest and cheapest transaction-heavy digital currency to use. On the other hand, high transaction volume means large fees. For example, a recent transaction was completed in 0.01 seconds, but the transaction cost $0.12. Compare that to Bitcoin’s recent average transaction fees of $0.008 and Bitcoin’s “flat fee” of $0.001 per transaction.
At the time of writing, Dash is trading at around $248. The coin’s market capitalization currently stands at $2.77 billion. According to a tweet from digital currency analyst Christian Decker, the price of Dash will increase to around $330 by January 2018. Today the price of $1,000 = Bitcoin 1,400 Dash. It’s the same today, but in a month it’ll be 1,800 Dash = Bitcoin 2,000. In a year, it’ll be more than 5,000 Dash = Bitcoin 10,000. What makes Dash stand out among its peers is its price movement. After a drop from $460 to below $400 in July, it has since risen back to its all-time high of $248. It’s a rare occurrence when you can trade a digital currency without much volatility, but Dash isn’t your average digital currency.
Sean Williams, CNN Business I look at digital currencies in the digital currency space, and there are some very high-risk cryptocurrencies out there. And for that reason, they are not the type of investment I’d recommend to someone who is a first-time investor. But for those people who do know a bit about bitcoin, ethereum, ripple, Ethereum Classic or any of the hundreds of other digital currencies out there, digital currencies like Dash are more than likely to be their next investment. For me, the Dash coin I’m currently invested in is one I bought because of its low volatility and decent transaction fees. The fees are reasonable. One day it’s $0.05, another day it’s $0.07. In my opinion, $0.07 is reasonable for a money transfer.
Where to buy
We wrote a detailed guide to buying Dash coins here, which details the different ways you can buy Dash. It is worth taking the time to read through it, since it contains detailed information on different Dash sales venues and prices. Though it is easy to find Dash for sale, it may be more difficult to buy it. People buy Bitcoin with Bitcoin (BTC), but they also sell it for Bitcoin (BTC) (if they aren’t using it as a store of value). Dash can be sold for a variety of fiat currencies, but it is usually traded at one of two Bitcoin-linked exchanges: the first is Bitfinex, and the second is Kraken. Where to Invest Dash does not look like a great investment when it comes to traditional investment options, either.