What is Dash?

Sep 13, 2022
3 min read

This blog post will cover:

  • What is Dash?
  • Where did Dash come from?
  • What are the advantages of Dash?
  • What are the disadvantages of Dash?
  • How to buy Dash on SimpleSwap?

What is Dash?

Dash is a decentralized cryptocurrency based on blockchain technology. It is governed through a form of decentralized autonomous organization, in which decisions are made in blockchain by “masternodes”. All the transactions are being performed without third party. It is now one of the most popular cryptocurrencies in the world.

Where did Dash come from?

The history of Dash started in 2014, when Evan Duffield and Daniel Diaz used Bitcoin technology to create their own currency. Back then it was named “Xcoin”. Then it was rebranded as Darkcoin, and then became Dash, which means ‘digital cash’. Dash appeared as a result of fork of the Bitcoin. That means that Dash is an improved version of Bitcoin. A lot of BTC's weaknesses are absent here. Dash was one of the first to decentralized the blockchain governance system.

What are the advantages of Dash?

  • It has voting system
    That means that changes can be implemented quickly with no need to form another currency.
  • It is super fast
    You can make a transaction within 4 seconds.
  • The fee is low
    This may change with the growth of its popularity, but so far the fees are lower than for other cryptocurrencies.
  • It is anonymous
    Although transaction are public, you don't share your name and address.
  • Dash is a user focused system
    It is comfortable and simple.
  • Dash is liquid
    You can find it in a very large number of cryptocurrency exchanges. Also it is being accepted in some online stores.

What are the disadvantages of Dash?

  • The name “Dash” is widely used by other companies.
    So sometimes it is hard to find information or associate it with cryptocurrency.
  • There are other cryptocurrencies that are very similar to Dash
    So it is hard to say that Dash is a hundred percent unique.
  • It still lacks a number of users

How to buy Dash on SimpleSwap?

Let’s say you want to buy Dash. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:

  • Choose the currency you want to exchange (e.g. BTC) in the first drop-down list. Enter the amount you would like to swap.
  • Select DASH in the second drop-down list. You will see the estimated amount that you will receive after the exchange.
  • Enter the Recipient’s Address. Dash will be sent to this address. Be careful and make sure you use the correct address.
  • Check all the information you have entered. If everything is correct click the Exchange button.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

This is everything you need to know to buy DASH.

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