Dash is a form of cryptocurrency, with its name meaning Digital Cash. This crypto aimed to provide anonymous and super-fast transactions across a decentralized network on a global scale. The creators of the Dash white paper are Evan Duffield and Daniel Diaz.
Dash is proud to boast an impressive one-second transaction speed. In terms of payment networks, it’s more efficient than BTC or ETH, as those networks are so popular and often become congested. This means a higher price per transaction and longer waiting times. Dash operates on its unique network of nodes, helping maintain speed & efficiency for all their transactions.
More than 4,300 merchants use Dash for payments, and you can find them listed on 268 exchanges. The coin is ranked as the 45th biggest crypto by market cap, with a total size of over $2.1 Billion. The total amount of Dash coins is capped at 18.9 Million, while at the moment, there are just over 10 Million in circulation.
When it comes to playing at Dash online casinos, this cryptocurrency has been a popular choice for many, with gamblers loving the anonymity and lightning-fast transactions. Many of the world’s top casino and sports betting sites now accept deposits & withdrawals in Dash currency.
Some dedicated crypto betting sites like FortuneJack, Stake, and RooBet will allow you to place play in Dash currency. However, most online casinos that accept Dash will convert the transaction into traditional cash like AUD, EUR, GBP, USD for playing. When you make a withdrawal, you will receive the currency amount in Dash equivalent.
A Brief History of Dash
The cryptocurrency was first launched in 2014 and was previously called Darkcoin and Xcoin, before soon rebranding to the much cooler Dash name, short for ‘Digital Cash.’ The Darkcoin name originally came from the fact the company targeted the underground darknet market. Since 2016 Dash has pulled out of these dark markets and now focuses on legitimate global P2P and B2B transactions.
According to CoinMarketCap, Dash hit a record All-Time High price of $1,652 in December 2017. Since the massive crypto rise and fall in 2018, the currency had declined, dropping to $70 each. In 2020 the market started to grow, and Dash’s price began to rise above $100. In 2021 it had a rapid rise and reached $335, while right, it’s now averaging around $210 per coin.
Dash works similarly to Bitcoin. The main difference is they use different hashing algorithms to mine coins on the blockchain. All transactions on the Dash network are available on a public ledger. While this might not seem private, it’s tough for anyone to link a specific transaction ID or wallet address to an individual. This ledger is decentralized and run by people & businesses operating ‘Nodes.’
1000 Dash coins and a high-powered computer setup are required to run one of these nodes. Those operating these setups help run the Dash network by mining transactions and storing data for the system, earning a fee for their services.
These nodes also have voting rights. Any ideas and plans put forward by the community can be put up for discussion and voting. This helps create a truly decentralized system without corruption. Dash is ideal for anyone seeking a reliable gambling payment method.
Dash – Pros and Cons
- Anonymous transactions
- Super fast payments
- Low transaction fees
- Hard to learn & use at first
How to use Dash at Online Casinos
The first step for using Dash at an online casino is to purchase some coins. There are several ways you can do this. It’s wise to do your research and find trusted exchanges with an excellent reputation like Binance, Coinbase, or Robinhood.
CryptoCurrency exchanges accept deposits primarily via Bank Transfer and Credit/Debit Cards. Some sites like Binance offer P2P ways to purchase crypto, with many payment options like E-Wallets, Cash In Person, PayPal, and more.
Once you’ve purchased your coins, they will be in your exchange wallet. It’s important to note that some exchanges won’t allow gambling transactions. So the first step is to send the coins to a personal Dash wallet. Dash offers several secure wallets for Desktop and Mobile devices. You can also take security to the next level and store your coins in an offline wallet like a Trezor or Ledger.
After you have Dash in your wallet, you can now use them as you please. When you sign up to one of the Dash online casinos, you can visit the cashier section and select Dash as your deposit currency. The casino cashier will generate a unique wallet address for you to deposit your coins.
From your wallet, you can now choose the Send a transaction. When prompted for the Wallet ID/Address to send to, you can put the casino deposit address. You will also have the chance to enter the amount of Dash you wish to send. Once you send your transaction, your funds will be available to play at the online casino. Most casino sites will convert your Dash deposit into a local currency like EUR or USD.
After you’ve had a win and you’re ready to cash out, the process is reversed. You will need to get a receiving address for your Dash wallet. You can then request a withdrawal from the casino, provide them with your address, and process the withdrawal. Most of the time, you will be withdrawing in EUR/USD, and the cash out will arrive in that amount of Dash in your wallet.
One of the best features of Dash is the low fees involved. With other high-value crypto coins like Bitcoin, the fees can be pretty high per transaction. By using Dash, casino players can save money and time in 2021.
Dash is best described as an anonymous, fast, and secure digital currency that runs on a decentralized network. It allows for insanely quick payments, with an average transaction time of one second. More Dash casinos appear and cater to the growing market of players that enjoy the efficiency and privacy available when gambling with this crypto.
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