WHAT IS DASH?
Dash is an open source peer-to-peer cryptocurrency with a strong focus on the payments industry. Dash offers a form of money that is portable, inexpensive, divisible and fast. It can be spent securely both online and in person with only minimal transaction fees. Based on the Bitcoin project, Dash aims to be the most user-friendly and scalable payments system in the world.
In addition to Bitcoin’s feature set, Dash currently also offers instant transactions (InstantSend), private transactions (PrivateSend) and operates a self-governing and self-funding model that enables the Dash network to pay individuals and businesses for work that adds value to the network. This decentralized governance and budgeting system makes it one of the first ever successful decentralized autonomous organizations (DAO).
Dash is Digital Cash You Can Spend Anywhere
Use Dash to make instant, private payments online or in-store using our secure open-source platform hosted by thousands of users around the world.
Next-Gen P2P Network
At Dash’s core is a unique fully-incentivized peer-to-peer network. Miners are rewarded for securing the blockchain and masternodes are rewarded for validating, storing and serving the blockchain to users.
Masternodes represent a new layer of network servers that work in highly secure clusters called quorums to provide a variety of decentralized services, like instant transactions, privacy and governance, while eliminating the threat of low-cost network attacks.
Masternodes are required to have 1000 Dash collateral, a dedicated IP address, and be able to run 24 hours a day without a more than a 1 hr connection loss. Masternodes get paid 45% of the block reward on every block, which is distributed to masternodes one at a time. Typically, around 2 dash is paid to each masternode every 7 days.
What is a Dash Masternode?
First Self Governing, Self Funding Protocol
In Dash, everyone has a voice and the ability to propose projects directly to the network. Anything you can do – from marketing to development – that helps Dash grow and improve can be funded. This means Dash funds its own growth and adoption, consensus is guaranteed, and everyone is accountable to the network.
Just submit a treasury proposal and present your idea to the network for funding and make your case, or if you operate a Masternode, be sure to vote!
The Fastest Growing Network
Thanks to incentivization, Dash’s network has grown to 4,100 masternodes since launch in 2014, meaning Dash’s peer-to-peer network is one of the largest in the world.
More nodes means more secure services, and more capacity for end-users to access Digital Cash from anywhere in the world, 24/7.
Digital Currency Evolution
What’s next? We want digital currencies to be so easy to use your Grandma would use them.
Dash Evolution will enable you to signup and access your Dash from any device and transact as easily as you can with PayPal, but in a fully decentralized way.
At all the above exchanges it’s required you own Bitcoin or Ether FIRST so you can convert them into Dash.
The easiest places to buy Bitcoins are:
Buying Dash on Shapeshift or Changelly
– First of all, the user must own Bitcoin, which is purchasable via sellers like Coinbase and Circle. Bitcoin can also be easily acquired from exchanges such as Huobi, BTC-E, or Bitstamp. There are also several other techniques and ways to purchase Bitcoin. Possibly the easiest method is via either Coinbase or Coinhako.
Once the user has bought some amount of Bitcoin, he or she is prepared to purchase Dash.
Buying Bitcoin is straightforward just like the registration process for it which requires information such as the user’s name; email ID, along with an authentication of the user’s identity (for example, copies of the user’s birth certificate, license, etc.). As soon as an account is formed and confirmed, the user will be required to complement the existing information with a source of funding, for example, a bank account or a credit card.
Once this is done, and the account is completely set up, money can be transferred from the funding source in order for the user to purchase Bitcoin.
– After acquiring an address, the user has to visit Shapeshift or Changelly in order to label Bitcoin as the Deposit currency. The deposits will be made in Bitcoin and Dash will be the Receive currency, that is, the user will receive payments in Dash.
– Then, the user must paste a Bitcoin return address (in the event the user’s transaction to Dash is not successful and his or her Bitcoin is required to be sent back).
– Lastly, the user needs to send his or her Bitcoin to the deposit address provided by Shapeshift or Changelly. Subsequently, the deal is processed and the funds are sent making this the last step, and the user an owner of Dash.
Buying Dash on Poloniex
Although it is a widely used method, there are a few disadvantages with the Shapeshift process, especially the fact that the exchange rate is very poor. So, for users, choosing to send Bitcoin directly from Coinbase to Poloniex is a great option. Here are the steps that need to be followed:
– Start by creation of an account at Poloniex. This is a basic process which involves the user just sharing standard information like name and email ID. Unlike Coinbase, this platform abstains from touching government currency so the registration procedure is much more hassle-free.
– Then, the user needs to visit the Poloniex “Balances, Deposits & Withdrawals” page which is accessible from the button titled, ‘Account’, available on the top right menu.
– After that, the user needs to click on the “Deposit” link from BTC in order for him or her to obtain the BTC address. With just one click, the user’s funds should be on its way to Poloniex. It might take some amount of time, possibly more than 15 minutes, for the Bitcoin transfer to achieve completion.
– Once completed, the user needs to go to Poloniex’s BTC-DASH exchange page. Here the user will be able to view a historical and graphical display of Monero’s fluctuating prices.
In order to trade Bitcoin (BTC) for Dash (DASH), the user needs to:
– Click on the highlighted number situated beside the option entitled “You have”. This will set the user’s trade to take in his or her complete Bitcoin balance.
– Click the highlighted number situated beside the link entitled “Lowest ask”. This will set the user’s trade price to the lowermost current seller.
– Click on “Buy”.
Thus, the process of purchasing Lisk is complete.
Purchasing Dash on Bittrex
If the user would prefer to purchase Dash via Bittrex, the instructions provided on the websites regarding opening the accounts need to be followed.
As providers of cryptocurrency exchanges, Bittrex offer a diverse environment for obtaining Dash because the user has to fulfill other traders’ sell orders in order to purchase Dash.
This implies that values may fluctuate, sometimes extensively. If a potential buyer is unconcerned about trading Dash and would favor a stage that provisionally assures a guaranteed purchasing price, then Shapeshift is the better choice.
In this guide, we are going to provide a step-by-step guide about how to buy DASH on Binance. Before you can Dash on Binance, you have to sign up for the exchange.
**Please note: Due to the overwhelming surge in popularity, Binance has from time to time temporarily disabled new user registrations to allow for an infrastructure upgrade.**
On the www.Binance.com homepage you will see this Create Account｜Already Registered in the top, middle of the screen:
In addition to supporting both Bitcoin (BTC), and Ether (ETH) trading pairs, Binance also supports the Binance token (BNB) and Tether (USDT). Before you can purchase DASH, you first need to hold a balance of BTC, ETH, BNB, or USDT in your account. If you already have ETH and don’t mind the slight dollar cost average difference of ETH and Litecoin (LTC), you can buy ETH with the step below instead of LTC.
The cheapest and fastest way to transfer a balance of funds is using LTC from either your Coinbase account or other wallet. The fee’s associated with using LTC are cheaper and the speed you will receive your funds is faster than moving BTC or ETH.
Important Note: You can just use ETH and avoid selling LTC into BTC, or ETH.
How to do this via Coinbase:
Find the ‘Funds’ tab along the top right side of you screen of your Binance Homepage, select ‘Deposits”.
On the proceeding drop down menu find LTC. Your LTC Deposit Address, along with QR Code for easy access can be found here.
The next step is to copy_paste the displayed LTC address into your Coinbase account. From your Coinbase home/dashboard page, select ‘Accounts’ if you already have a balance of LTC in your custodial wallet; otherwise select the ‘Buy/Sell’ option and make a LTC purchase.
Under ‘Accounts’, LTC can be found at the bottom of the four Coinbase custodial wallet options on the left hand side of your screen.
Select the ‘Send’ option with the paper airplane next to it. Then copy_paste your Binance deposit address into the LTC send field.
Helpful Tip: If you correctly copy_pasted this address into the recipient field, you will always receive the green checkmark on the left side of the recipient address box. If you do not see this checkmark, the address you put into the field does not exist, you should double check and try again.
Next, press the ‘Continue’ button. A Confirm Send box will pop up after you do.
Select Confirm. You will receive a ‘Send Complete’ message with a big green checkmark indicating that your transaction is on the way to an external address. Since we choice LTC, your transaction should received within about 5 minutes or less. You will receive an email from the Binance team when your LTC has been successfully transferred.
Now that you have a balance of LTC, ETH, or BTC, you can use it to buy DASH.
On the Homepage of your Binance account, you will find the following menu on the right side of your screen:
Find the box with the magnify glass icon directly under “Favorites” and enter DASH into the field. All of the other trading pair options will disappear and you will be left with a highlighted pair that includes “DASH/ETH”, the Price, and 24 hour percentage change as soon below.
Next, scroll down to the Buy DASH, Sell DASH box directly under the chart. It will look like this:
In this section you can choose to buy a custom amount or one of the pre-designated 25%/50%/75%/100% available balance amounts options.
Next, enter the amount of DASH you want to buy into the “Amount” field; then press the green ‘Buy DASH’ button.
As soon as your order is filled by the marketplace you will have DASH added to your Binance custodial wallet account.
To see this balance go to the top right side of the Bianace Homepage, then put your mouse arrow over the “Funds” option. A drop down box will appear that looks like this:
Select the “Balances” option. Under the “Deposits & Withdrawals” on the right side of the screen, enter DASH into the field with the magnifying glass as shown below:
All of the other coin options will disappear and only your DASH total balance will appear displaying your Total Balance, Available Balance, Amount in Order, and Total in BTC Value.
Top 10 Exchange Volume:
And, that’s it. Now you have a bottomline background of the DASH project, current top 10 exchange volume information, and a step-by-step guide about how to make your first DASH purchase on Binance.
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