Are you a cryptocurrency enthusiast? Do you think Bitcoin is great but believe that some improvements could be made to the currency? If yes, then Dash is the right currency for you. It is one of the most user-friendly currencies around and calls itself a ‘payments-focused’ digital currency. This means that while Dash continues to be a digital asset, it will also be useful in many real-world applications.
Is Dash coin better?
As Dash is designed for payments-usage, it comes with an incredible instant transaction confirmation. With Bitcoin, you could be waiting for more than an hour for the transaction to confirm. However, with Dash, it could be done instantly. This is not all; you get protection against double-spending as well. The framework of the cryptocurrency has been designed to ensure that duplicated payments are stopped, and only legitimate payments get to stay in the transactions.
This is an open-source project developed in a customized environment. The aim was to create a self-funding, self-governing system of anonymous currency that could be compared to physical cash. The currency can scale up to 400MB blocks which leaves a clear and wide space for the currency to grow before it reaches maturity.
Isn’t Dash coin based on blockchain only?
We have to note that Dash is based on Bitcoin only. However, this currency comes with major improvements on the Bitcoin framework. For example, it has a two-tier framework for added security, faster transactions, and better verifiability of the transactions which is still missing in Bitcoin. However, both the currencies share the most important components of their ecosystem.
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At the time of writing, the currency was trading for over $800 per Dash coin. After trading in range of $250 to $300 for most of third quarter, the currency went higher during second week of November 2017 and jumped beyond $700. This shows the explosive potential of this currency and its impact on the overall crypto landscape.
The most interesting feature of Dash coin PrivateSend. The coins available in every wallet are generally dissected into several inputs. When you choose to send your funds privately, these inputs are mixed with inputs from two other wallets. This helps in maintaining the anonymity of the system and makes you gain more control of your finances. You can choose to send coins privately to anyone you want without having to bother about surveillance or lack of privacy.
It also comes with a better fork management idea. The network will opt for ‘sporks’ instead of traditional forks. This will help them in testing new features and updates to the network extensively before they are rolled out to everyone. This helps in a smoother transition of the updates to the users without creating a major uproar (like the one we witnessed recently for Bitcoin).
As Dash is developed to bring about a revolutionary change in how Cryptocurrencies are utilized, it will be wise to buy it and store it in a credible wallet. You have the option of focusing on Dash only wallets that are designed keeping the intricacies of this currency in mind. However, you could also opt for multicurrency systems that can help you save Dash currency in a multi-coin holding account.
Top 5 Best DASH Coin Wallets
Let’s talk about top 5 of the best DASH wallets that are known primarily for being Dash friendly.
Trezor is one of the most trusted and secure hardware wallets for Dash coin. It comes with better privacy and ease of usage which makes it a clear winner in the blockchain environment. Did you know that it was the first hardware wallet ever? Trezor is costlier and heavier than its more recent counterpart Ledger Nano S. However; a few things set the older device apart.
First Trezor was a pioneering hardware wallet because of which it has better market penetration. It may be on the heavier end, but this device can be used easily on shared computers, even if they are affected by malware. Trezor is considered ‘impossible’ to hack. When working with a hardware wallet and traveling around, you will want to focus more on your security. Considering the growing concerns over the hacking of digital currencies, a wallet that functions on literally any device is worth a few extra dollars.
Currently, the wallet supports eight currencies and is considered a perfect partner for Dash coin. It has a small OLED panel which will display a 24-word paraphrase as well as your 9-digit key. This makes it easier to use the wallet. The setup of the device is also very easy, and you don’t have to go through a complicated registration process as well. It also has a great recovery feature which lets you recover all your account information and keys by answering a few questions.
Not every cryptocurrency investor likes to keep track of his portfolio on the desktop. Some just want more ease of access. Coinomi is designed for such an investor. This smartphone-based Dash coin wallet can support 70 different cryptocurrencies at once. However, it does not boast of a very robust interface like a full-fledged desktop app. Even though you have a plethora of coins to choose from, you will not be able to hold more than 200 coins at once. Remember, this is the highest number of coins that any mobile wallet allows.
The user interface of Coinomi is very user-friendly, and even beginners will be able to learn the app within moments. The good thing about the app is that it comes with ShapeShift integration built-in. This helps you in converting coins from one currency to another without leaving the app. You will not be able to use instaReceieve and instaSend features in this wallet. However, you will get a backup of your account with the help of a 12-word seed key, just in case your mobile device gets damaged or lost.
Coinomi doesn’t boast of great anonymity, but it definitely brings in ease of usage. If you like to trade, send, or receive in Cryptocurrencies at will, without having to open an app on your desktop each time, this is the app for you.
Exodus is a desktop application that has proven its usefulness consistently. It is a secure way to get and store coins. It presents a unique pie chart portfolio to keep track of your currency storage. Exodus is a pioneer in bringing a multicurrency platform that allows easy conversions. Therefore, it comes with ShapeShift built-in. This helps in converting different Cryptocurrencies quickly and effectively without having to wait for third-party applications. Currently, the platform supports Bitcoin, Litecoin, Dogecoin and Ethereum apart from Dash coin.
This wallet is essentially for the serious investor who likes to engage in buying and keeping multiple currencies but does not like the hassle of managing multiple wallets. Exodus does the job for such investors very well. All they have to do is create an account, and the wallet will bring the diversified portfolio right on your screen in the form of a colorful pie chart.
Each currency and its value are color coded which helps you see which currencies are dominating your investment profile. It is like getting a financial checkup done by your finance advisor who brings up a pie chart to show you the current state of your investments. It is a simple, intuitive, and very easy to understand the method of letting investors keep track of their digital assets. This is not all; you could even choose light or dark themes for some extra customization of your desktop client.
Like most other multi-currency wallets, Exodus takes your privacy and security very seriously. This is the reason why none of your private keys are every stored on third server. All private information is stored locally in your app. This provides you more control over what you are sharing.
This is the official app for the currency coming straight from the developers. The wallet comes with instructive and instaSend features. This desktop client features the Master node management feature and governance feature as well. Note that DASH Core is not a light app. It will take significant space on your computer and command more processing power as well. Therefore, it will be better to get a faster computer with better RAM. A computer running the latest Windows, Linux, or Mac versions is best suited for this desktop app. DASH Core is also available for iOS.
Private keys are stored securely in the wallet. The PrivateSend feature works perfectly with this wallet as it is an official release. Additionally, you get all the features of this P2P program with the client. You will not need any verification or ID for using this wallet. This makes it easier to use as compared to other wallets. Note that the client will make you synchronize with the entire blockchain which could take significant PC space, time and processing speed. However, once the sync is complete, you will enjoy all the benefits of this currency in a jiffy.
The DASH Core paper wallet will come in handy when you need to keep your currency in cold storage and carry it around if needed. The good thing about the DASH Core wallet is that it maintains a similar interface across all devices and platforms. Hence, using the wallet becomes very easy. DASH core has a great security module as well. If you are looking for an authentic Dash coin experience, then you should definitely be using DASH Core Wallet.
Jaxx is the favorite crypto wallet for people who deal with both Bitcoin and Dash coin. It provides you a really wholesome wallet experience. It can run on Linux, Mac and Windows desktops. It has an iOS and an Android version for both, phones and tablets. Additionally, it is available as a nifty little extension on popular browsers- Firefox and Google Chrome. This helps you in keeping in touch with your wallet account, regardless of the system, browser or device you use.
The best thing about Jaxx is its privacy module. The private key of a user is never stored or shared in the Jaxx server which makes your transactions 100% transparent and private. There is no need to be scared of a centralized and remote blockchain keeping your private keys on their servers. Every private key is secured safely on your local browser/device or application.
Another good thing to note about Jaxx is that it supports multiple currencies. It currently lets you hold Ethereum, ZCash, Litecoin, RSK and Augur on its platform. This is not all, the platform has been fully integrated with ShapeShift. With the help of this feature, you will be able to convert any of the supported currencies into another currency with ease within the application. Overall, it is one of the easiest ways to securely store all of Dash coins in one place and convert or transact with them.
What type of wallet to choose to store DASH coins?
It depends on how you want to use Dash coins and the kind of portfolio you are building. For people who will be storing Dash coins for a short to the medium time frame, it is always better to go for easy and simple to use wallets like Dash Core or Coinomi. However, if you are a more serious investor trying to store Dash coin’s value for longer periods of time, it will be better to opt for a hardware wallet like Trezor that provides extra security and keeps your investment safer.
Dash’s innovation is making it one of the most sought-after currencies in the digital world. It is already trading at around $800. Experts believe that a slight more investor interest will be easily pushing the valuation beyond $1,000. While we are not exactly sure about the timing of such a valuation (the entire crypto community was waiting for the Bitcoin $10,000 mark by the end of 2017 but it happened earlier), we know that 2018 will be the year of the Dash coin. Do you agree with us? Let us know in the comments below.