If you’re onto the Crypto-Craze then I have a question for you. Have you been following Dashcoin’s (DSH) recent market activity? At first glance Dashcoin seems to be misunderstood by investors – mostly because it’s worth no more than a cent and something. But does that mean it should be overlooked? Let’s talk numbers and you can decide for yourself.
The first thing to note is that DSH currently has a market cap of approximately $483,907.00 and has been flirting with the $0.02 handle for the past week. Now this movement from 0.01 to 0.02 may seem like nothing (which it is, if you own it), but if you’re trading, the story starts changing. Over the last 24 hours, Dashcoin has managed a price swing of 29.77%. Don’t rub your eyes, yes 29.77% but that’s not the real shock factor. Over the last seven days, we’ve seen movement equivalent to 40.68%! Now you can rub your eyes.
What has this resulted in? Well, now the spotlight isn’t just on Bitcoin (BTC) – the light shines brighter and it’s shining on all Cryptocurrencies and their underlying blockchain technology that has blown traditional finance out of the water. This new and ground-breaking technology depends on the continuous updating of a public ledger that records each and every transaction. The advantage of a system like this (and the reason traditional finance feels threatened) is that there is no need for a third-party to verify transactions – hence why they are called peer-to-peer transactions. To put it simply, buyer and seller can conduct business directly with each other without having to pay fees to banks or processing companies. Many will argue that there are many pros and cons, and it’s true – as with everything in life, but something that cannot be argued is that this technology has the potential to be a game changer. But before anything changes let’s set a few things straight.
WHAT IS DASH
I often see Dashcoin (DSH) being confused with Dash (DASH) so let’s get some history up in here. Two very different cryptocurrencies with uncannily similar names, so what’s the difference? Dash was initially launched in January 2014 as an XCoin. Ten days after its launch it was renamed to Darkcoin and then about a year later, on the 16th of March 2015 to be exact, its name was finally carved in stone as Dash. This of course as you correctly guessed was done in an attempt to not only expand the brand (I mean Darkcoin does sound a bit unnecessarily spooky) but also to gain over Dashcoin users – and that’s where the mix up began. With that said let’s look at who today’s star is.
(Please note that we do not offer Dash as a tradable asset, however, we do offer Dashcoin (DSH/USD) – Please read about our risk policies before commencing any trading activity)
WHAT IS DASHCOIN
Dashcoin was launched on the 5th of July 2014. This anonymous cryptocurrency is based on a technology called CryptoNote. CryptoNote is, in essence, a new protocol – blockchain with character if you may. It uses an open source public ledger just like Bitcoin but there’s one main difference. With CryptoNote it’s essentially impossible to know which party received money and which party sent it. This takes anonymity to a whole new level as all you can see in the public ledger is the amount transacted between the two parties. CryptoNote relies on “hash-based proof-of-work algorithm” and a “memory-bound function called CryptoNight” which makes it increasingly difficult for miners to boost their devices. This is great as it keeps mining distributed and decentralized – which is the whole point of cryptocurrencies.
Now, about 4 years later, these digital tokens are still here, and especially after the big boom in 2017, 2018 has put the cryptocurrency market under the microscope, with even NASDAQ openly stating they’re ready to embrace this digital change. At the pace, the cryptocurrency world is growing it’s no wonder investors may be looking to add a crypto-slice to their portfolio. These digital currencies seem to have definitely captured the imagination of investors all around the globe. Investors are left with a decision to make. Will they allot a portion of their portfolios to these digital tokens or will they slip under the radar? Investors will argue that cryptocurrency investing is just another way to add diversity to their portfolios, others will argue the opposite. It’s always the case though, isn’t it? Bulls VS Bears – Believers VS Sceptics. I guess it all comes down to, where do you think you fit best?
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This article is for educational and informative purposes only and should not be considered as investment or trading advice.