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Dash Coin Trading 2019
Dash is a cryptocurrency and open source peer to peer payment network inspired by Bitcoin. The name of the currency is the amalgamation of the words digital and cash. The coin is marketed to be a more consumer friendly option, allowing for instant and private transactions. Dash coin trading is a popular new way for investors to capitalise on this rapidly growing currency.
What is Dash?
Originally launched as XCoin back in January 2014, this coin has gone through several rebrands - eventually becoming Dash in March 2015. Within the first two days of launch, over 1.8 million coins were mined - over 10% of the total supply ever to be issued. In December 2017, the very same month which saw Bitcoin’s dramatic rise in value - Dash jumped up to 8,000%.
Dash prides themselves on being a more consumer friendly option than Bitcoin, offering potential purchasers the chance to benefit from instant payments and private transactions, making it a more suitable choice for online shopping. While it is still considered to be a decentralised network, there are some critics who defer the notion due to the structure and existence of masternodes.
How to Trade Dash
Mining is a key feature of any cryptocurrency - and it virtually allows anyone with some technical know how and some computer hardware to get involved with crypto. However, mining for coins is not as simple as it sounds and can actually cause a number of issues. The upfront and ongoing maintenance costs for example could seriously dent your budget before seeing any potential pay back. It’s also worth considering just how volatile cryptocurrency is, with coins seeing sharp inclines and then steep declines.
There’s also the option of buying coins at an exchange, but then ultimately - you can only really benefit from one market direction. And that direction isn’t always so guaranteed with cryptocurrency. Dash coin trading is therefore an optimal option to start with for some investors and there are several reasons why:
No Dash? You can still make cash: A common misconception is that you actually need to own cryptocurrency to trade it. This is not true - when you trade with a broker you are speculating on the value of the crypto versus other currencies (like the USD for example) and that means you can access a whole different range of asset types including Bitcoin and Ethereum.
Capitalise on highs and lows: Being a cryptocurrency owner, there’s only one way you want your shiny digital investment to go. And sometimes, the ride isn’t that smooth. Take the example of Bitcoin, which lost $10,000 worth of its value in the space of a day. If you owned the currency during that time, you may have been white as a sheet. But if you opened a position to capitalise on the decline, then you could have made a tidy profit.
Dash Trading Strategies
There are a number of ways you can trade Dash to maximise your profit potentials. And it really depends on how flexible you want to be. Most investors start with something simple like day trading - or they could attempt scalping for much more frequent profits. Or if you have the technical knowledge, you could employ electronic advisors that would trade for you based on market triggers.