Trade DASH on Beaxy

A portmanteau of “Digital Cash”, DASH is one of the oldest peer-to-peer cryptocurrencies and is primarily designed with a focus on transaction speed and user security. Dash uses the same coding as Bitcoin while fixing the recurring issues on the latter.

DASH profile

Features of DASH

Security

With over 4,500 servers online and 200 TerraHash of X11 ASIC computing power to process transactions, DASH boasts some of the best in sophisticated encryption systems in the industry

Speed

With the DASH InstantSend feature (formerly known as InstantX), users can instantly send and receive the cryptocurrency in only four seconds.

Low transaction costs

DASH transactions are very cost-effective, requiring only a few cents to send. This can be significantly cheaper when comparing to other payment services such as PayPal and Moneygram

Quick Evolution

The incentive system in the DASH networks is one of the reasons why it has grown rapidly to one of the largest and most secured peer-to-peer networks.

Self-Governing and self-funding protocol

DASH is known for its accessibility for those who are able to develop the platform. Everything in the network is self-funded and self-governed while still ensuring accountability.

Popularity

DASH is one of the most-talked-about cryptocurrencies next to BitCoin because of its accessibility and ease-of-use. In addition, its development and online descriptions provide widespread interest and an optimistic outlook.

Frequently Asked Questions

Dash Technology

Masternodes Dash is run by special servers known as masternodes. These networks allow for the use of other features the cryptocurrency offers such as InstantSend and PrivateSend. Masternodes allows DASH to implement a two-tier network system. Users who maintain these masternodes are rewarded with a percentage of the block reward as an incentive and another 10% going into its treasury system. Maintenance usually involves tasks including the verification of transactions and providing servers to run the network. In order to be a participant or owner of a masternode network, a proof of owning 1,000 DASH tokens must be presented. This would ensure that the participant would not act against the development of the network as they would prove to have an investment in it as well. Chainlocks Chainlocks are what secure DASH, protecting its blockchain with a reported 51% success rate against most forms of hack attacks. Basically, DASH works by randomly selecting at least 400 masternodes and compiles it on the most recent block under a valid status. This can prevent hackers from reorganizing the chain. PrivateSend PrivateSend offers the best in terms of financial privacy by encrypting and hiding the origins of the user’s funds. Basically, it takes a number of identical inputs from various users and compiles it into one transaction with differing outputs. This would make the direct tracking of a specific transaction extremely difficult.
In addition, the use of a masternode system liberates the user from using only one website. The various masternodes intermingling through chaining provides anonymity for any transaction. To prevent further tracking from third-party entities, these transactions are mixed with similar ones in terms of specific denominations and passive modes.
PrivateSend also uses a special network coding known as DTSX for transactions for an extra layer of privacy. InstantSend InstantSend is a free platform feature that ensures its user’s lightning-quick transactions, lessening the waiting time compared to that of BitCoin. InstantSend is the primary feature of the DASH platform. InsantSend implements the use of transaction locking in order to prevent the same transaction from being carried out twice. In turn, transaction locking requires a masternode that has, in turn, been validated by multiple masternode operators. Once the masternode has been confirmed by the said operators, the transaction is carried out and will be irreversible. During the process of confirmation, the funds are locked from the sender and receiver until the process is complete. If no confirmation is achieved during this process, the transaction will still be carried out albeit in a standard method.

How to mine Dash?

Unlike Bitcoin, which can be mined through the use of the SHA-256 algorithm, DASH can be mined through the X11 ASIC algorithm. One of the main reasons why many would prefer to mine cryptocurrency instead of buying them on a trading platform is that mining is the most profitable in the long term. In this section, we will show a quick tutorial on how to mine DASH with the use of the Antminer D3 computer. Antminer D3 is an ASIC (Application Specific Integrated Chip) mining hardware developed by Bitmain that is designed to specifically run a certain algorithm. Step 1 - Setting up the Antminer D3 hardware
● After unboxing the Antminer D3 computing hardware, make sure to attach all 10 PCI-e connectors to their proper placements.
● Once the hardware is attached to the computer, make sure there is an Ethernet cable attached from the router to the Antminer D3.
● The last step is simply to make sure it is attached to a power source. Once the Antminer D3 receives power, the hardware should automatically start running. Step 2 - Setting up the Antminer D3 software
● In order to set up the software and start mining with the Antminer D3 software, an Advanced IP Scanner tool must be downloaded from online sources.
● The next step is to install and run the Advanced IP Scanner software.
● Once the software starts running, click on the “Scan” button for it to begin searching and detecting devices connected to the network.
● Once the scan is complete, look for “Antminer” (or something similar) on the list and take note of its IP Address. (This can be in the format of 192.68.0.8, for example). If “Antminer” is not listed, click “stop” to end the scanning process. Then, make sure that Windows Firewall is turned off and restart the Advanced IP Scanner tool and click on the “Scan” button again.
● Copy and paste the Antminer’s IP address into your browser’s URL bar. Type in “root” for both the username and password. Step 3 – Mining DASH with the Antminer D3 (Multipool) Before this process is done, make sure that you have an e-wallet to store your DASH coins in.
● Sign up and log into Multipool.
● Once you are logged in, go to Account > Your Balances
● Enter the e-wallet’s address.
● Next, go to Account > Workers > Add Worker. This will add your Antminer under the “Worker Name” list. You can also name your Antminer here to make it easier to track.
● Once it is set, go to “Home” and find the server URL of DASH. Note that you can add other cryptocurrencies that use the X11 algorithm.
● Now head back to your Antminer’s interface and look for the “Miner Configuration” page. Paste the stratum URL+[your worker name] in the URL field. You can also set up a password here.
● Click on the “Save and Apply” button in the bottom right-hand corner. You have now completed the steps necessary and the Antminer D3 will start mining DASH.

Risks of Dash trading

There will always be an inherent risk when trading with any cryptocurrency. However, it is always up to you to decide whether the investment is worth it through proper risk management and adequate research. While the advantages of trading DASH coins outweigh the risks, the ones listed below are pointers that traders and miners should be aware of. Illegal and Fraudulent usage As mentioned before, DASH features quick and anonymous transactions. However, the secrecy and removal of third-party governing have led the cryptocurrency to be the subject of many fraudulent activities such as money laundering schemes and illegal purchases. However, this issue is not specific to DASH alone as many other cryptocurrencies have seen its fair share of such users. Security While the DASH platform features the implementation of advanced security systems, no security measures are perfect and can still be affected by hackers. Due to its decentralized nature and the anonymity it provides, this can lead to problems being very complicated to handle. However, as of now, there have been no major hacks that have been reported. Irreversible Due to the Chainlock system as well as the anonymity provided, transactions can be hard to track and refund after the transaction has been carried out. While it isn’t the issue with DASH itself and more on the user, it must be noted that transactions should be thoroughly reviewed before carrying it out.

Invest

Dash on Beaxy

Trade other cryptocurrencies on Beaxy

TRADE BTC

USDC is a stablecoin and its value is anchored to that of the United States Dollar.

TRADE ETH

ETH is the native currency of the Ethereum Blockchain, a programmable protocol that supports applications like smart contracts.

TRADE BXY

BXY is an exchange token that works as loyalty rewards and functional fuel for the Beaxy exchange ecosystem. Greater rewards, discounts, and potential of the platform can be unlocked with BXY.

TRADE NEO

NEO is an asset run on a distributed smart contract platform. You can exchange NEO and BTC when you place an order on Beaxy.

TRADE XRP

XRP is a cryptocurrency known for speed and use in global banking. If you’re interested in XRP you can navigate to the coin page to learn more, or the trading page directly to trade.

TRADE LTC

Litecoin and Bitcoin can be directly swapped for each other on Beaxy. Using the LTC/BTC trading pair allows you to move directly between two of the earliest cryptocurrencies.

TRADE ETC

Ethereum Classic is a decentralized network that is tailored to application development. If you’d like to trade ETC for BTC, you can do so directly on the exchange page.

TRADE XMR

Monero was built for anonymity and is the most popular privacy-focused cryptocurrency. You can move in and out of BTC when you place an order with XMR on Beaxy.

TRADE EOS

EOS is the base asset of EOS.io, a smart contract platform that is governed by 21 block producers. Swap your EOS and BTC with ease on Beaxy.

TRADE BCH

You can easily move in and out of Bitcoin Cash on Beaxy. Swap Bitcoin Cash for Bitcoin directly by placing an order on the exchange.

TRADE BEAM

BEAM is a privacy-focused cryptocurrency that protects your identity. You can conveniently swap Beam and Bitcoin on Beaxy.

TRADE DASH

DASH is a decentralized payment solution that features instantly settled payments. You can trade DASH and BTC directly on Beaxy.

TRADE BAT

Basic Attention Token is the native asset of the Brave browser. You can earn BAT by consuming content on the Brave browser. Exchange BAT and BTC efficiently on Beaxy.

TRADE AION

AION is a native asset that performs critical functions for The Open Application Network. You can swap AION and BTC directly on Beaxy.

TRADE MTL

MTL is the base asset for the Metal Pay ecosystem. MTL is used for quick and easy peer-to-peer transactions. Trade for MTL and BTC directly on the Beaxy Exchange platform.

TRADE ICX

ICX is the native asset of ICON, a decentralized blockchain network that focuses on interoperability. Seamlessly trade ICX and BTC on Beaxy.

TRADE VID

VideoCoin (VID) is a cryptocurrency that runs on the Ethereum blockchain. The asset is rewarded to producers and consumers of web-based video content. You can swap VID and BTC directly on Beaxy.

TRADE WAVES

WAVES is a cryptocurrency that is designed to cater to developers. You can conveniently trade WAVES and BTC on Beaxy.

TRADE ZRX

ZRX is the native asset for 0x, an open-source smart contract development platform. ZRX holders can use the token to vote on updates to the network. Seamlessly swap ZRX and BTC on Beaxy.

TRADE TOMO

TOMO is the base asset for the TomoChain platform which uses Proof of Stake Voting to reach consensus. Easily trade TOMO for BTC by placing an order on Beaxy.

TRADE GO

GO is the native asset on the GoChain network. GoChain uses Proof of Reputation as a consensus mechanism. You can easily swap GO for BTC on Beaxy.

TRADE LINK

Chainlink (LINk) is a decentralized oracle network that connects smart contracts on its platform to verifiable data hosted by nodes on the network.

TRADE DRGN

Dragonchain is a commercial-grade hybrid blockchain that enables developers to rapidly build private blockchains and decentralized blockchain applications.

TRADE NRG

NRG is a proof of stake platform that is enables the development and management of smart contracts. Exchange NRG with BTC on Beaxy.

TRADE POLY

POLY is the native asset of Polymath, a security token genreation and management plafotm that allows enterprises to seamlessly create legal and complaiant security tokens. You can trade POLY with BTC on Beaxy.

TRADE FTM

FTM is a smart contract platform that is modeled after Directed Acyclic Graph (DAG). Exchange FTM tokens for BTC on Beaxy.

TRADE ZEC

ZEC is a privacy focused digital asset that giver users the ability to choose between sending public or private transactions. Trade ZEC with BTC on Beaxy.