It is customary to call a cryptocurrency market a complex of all known cryptocurrencies, as well as the infrastructure that supports them. In a general sense, it, like stock or foreign exchange, can be attributed to financial markets. It makes it possible to quickly get a solid income. At the same time, he has characteristic features inherent only to him.
What is Dash?
Dash is a blockchain based cryptographic system. It is controlled by a community that is decentralized and used as a private currency. Dash cryptocurrency (DASH) appeared on January 18, 2014 under the original name XCoin (XCO). Unlike most modern cryptocurrencies, which go through the ICO stage before being created, the Dash cryptocurrency was created by independent developer Evan Duffield without an initial distribution of coins.
After creating the concept, Duffield continued development and found an algorithm that became the basis for a new cryptocurrency.
At the heart of the Dash cryptocurrency is the X11 algorithm, similar to a growth curve in which miners must fight to create even a small advantage for themselves, just as it was in the early stages of Bitcoin's development.
Despite the fact that Dash was originally created as a fork of Bitcoin, these cryptocurrencies have significant differences:
- Unlike Bitcoin, Dash has an instant payment service called InstantSend, as well as a masternode system that provides increased network security. Masternodes receive 45% reward for each mined block;
- While on the Bitcoin network it takes at least 10 minutes to confirm a transaction, in Dash it takes 1.5 seconds to confirm a transaction sent using InstantSend and 2.5 minutes for a standard payment;
- Bitcoin transactions can be tracked - anyone can access data about the addresses of the sender and recipient, the amount of the transaction; Dash has the ability to send anonymous transactions when using the Private Send function;
- Members of the Dash community can submit their projects, thereby participating in the development and improvement of the network. In addition, 10% of the coins received when the block is closed are allocated just for the development of the network. There is no such feature in Bitcoin;
- Compared to Bitcoin, Dash fees are lower.
In Dash, nodes (nodes) are divided into two types - regular mining nodes and masternodes. Any member of the network can form a masternode by uploading the full blockchain history and storing at least 1000 DASH in the account. The latter makes it possible to protect the network from the "introduction" of intruders and conduct an attack by 51%, since a violation of the correct operation of the system will also bring losses to the intruder himself.
It is thanks to masternodes that features such as Private Send and Instant Send are available in the Dash system. For the performance of their functions in servicing the network, masternodes receive a reward in the amount of 45% of each mined block. In addition, they have the right to propose their projects, as well as vote on proposed projects concerning the further development of the cryptocurrency. According to the official website of the project, 4100 masternodes are currently active.
Where does Dash come from?
The Dash model addresses transaction scalability issues by reducing the number of nodes required to approve a transaction to a manageable number.
How does Dash work?
Dash maintains a harmonious self-funded governance model by distributing block rewards among three important stakeholders: masternodes (45%), miners (45%), and treasury (10%). The first two receive the bulk of block rewards for the provision of basic services and voting on the directions of network development, and the remaining 10% go to the Treasury to actually finance the approved future development of the project.
What makes Dash unique?
Dash cryptocurrency was the first to propose DGBB - decentralized blockchain governance, analogous to the modern DAO. The bottom line is that anyone can offer a project aimed at developing the Dash network. The Enlightener pays a commission of 5 DASH.
Where to Buy Dash in India?
Buying Dash is easy and simple! You will need to stock up on money and spend some time educating yourself. You can buy Dash in India from the comfort of your home: on an exchange or online brokerage platform. If you decide to buy Dash through the exchange, then you can only open buy deals and make money on the growth of the asset. Short positions are allowed only if there are already open long positions.
On a brokerage trading platform, a trader can trade Dash using cryptocurrency CFDs, which gives more options. Regardless of the price movement on Dash, whether it goes up or down, the trader will earn without owning, buying or selling the cryptocurrency itself. A trader is simply making money from price movements.
How to start investing in Dash in India?
Every day there is a person who, tired of the routine, decides to become a trader. Many are beginning to learn to trade. After gaining basic knowledge, an understanding comes about the need for a strategy. Technical or fundamental analysis alone is not enough for success. It is imperative to learn different tactics and learn how to use them in practice. If you decide to invest in Dash in India, then you should know that a trading strategy is a set of actions aimed at making a profit while trading.
No one can 100% guarantee constant return on investment in Dash. However, a trading strategy can help you avoid total failure. Just do it!
Classic strategies based on technical analysis
These strategies are based on the analysis of price movements in the past, based on charts and patterns formed by the price on the chart.
- Graphic method. Based on the postulate “history repeats itself”. Helps to establish repeating patterns (patterns) of traders' behavior in the market using charts. So, for example, you can visually detect the “corridor” of the price for the selected asset, in which it “moves”, or strong price levels, breaking through which is a sufficiently strong signal to enter (or exit) the market.
- Algorithmic (mathematical method). It involves the use of technical indicators - moving averages, RSI, Bollinger bands, etc. It allows you to visually trace the possible probabilities of price movements in the market in a short time.
- Based on volumes. It involves determining the dynamics of changes in the trading volume of an asset for a certain period. Changes in trading volumes are a powerful indicator - for which market movement the most "votes" of market participants are now given.
- Candle method. Allows you to instantly receive information about the current market sentiment. They predict price direction at the end of previous trades.
Strategies based on technical analysis involve the use of various tools to detect entry and exit points, predict the situation, in order to start invest in Dash in India.
Trading strategy for the breakout of the price level
One of the basic and effective trading strategies within the technical approach. It involves tracking prices around past historical highs or lows. Trading close to price levels poses a great risk, since the emerging tension in the market can lead either to a rebound from the level in the opposite direction, or vice versa, to a breakout and a further continuing trend.
The basic recommendation is to wait for the resolution of this situation in one direction or another, and only then "trade" depending on which direction it was resolved. It should be noted that price levels are located not only near historical highs and lows, but also near “round” (or psychological) price values.
Based on the Moving Average indicator
The strategy is simple and highly effective. It is also called a simple moving average line. The indicator plots a line based on the averaging logic. The main parameter of the indicator is the averaging period. So, if it is equal to 20, then the last point of the indicator curve will be located at the level of the average closing price of the last 20 candles. Suitable for short and medium term trading.
It is also worth mentioning here the intersection of moving averages with different averaging periods is also an independent indicator of market movement. For example, when a "fast" moving average (for example, with an averaging period of 9) crosses a "slow" moving average (for example, with an averaging period of 20), you should open a position in the direction where the fast moving one went.
Compared to a long-term trading strategy, medium-term and even short-term (during the day), scalping is ultra-short-term. The essence of the strategy is to make money on the spread - the difference between the buy and sell prices. A trader carries out a large number of transactions per unit of time, constantly buying at the ask price and instantly placing orders to sell at the offer price.
This strategy is popular with both experienced traders and beginners. However, the method requires a calm state in the market so that there are no sharp jumps and breakouts.
The strategy is quite simple and has a really low level of risk. The bottom line is buying a token on an exchange at one price and selling the same token on another exchange at a higher price. The strategy is good in that it does not depend on the direction of the market movement, but requires constant monitoring of prices on different exchanges.
Cryptocurrency portfolio and rebalancing
The strategy belongs to the category of long-term investments and is suitable for more experienced traders, or rather investors, since it does not imply daily or even weekly trading.
There are many technical strategies based on various indicators and mathematical models. All strategies are designed to automate the ability to predict market movements in order to start investing in Dash in India. But you should understand that these strategies do not give a 100% guarantee of earnings, but nevertheless they still remain relevant on the crypto market. So good luck! We wish you a successful investment!
Is it safe to invest in Dash online?
Dash is a cryptocurrency aimed at anonymity. Dash protects your privacy by making transactions anonymous using a network technology known as DarkSend.
Is Dash a good investment?
Dash is undoubtedly a speculative investment that has a lot of potential to be the next bitcoin. This potential depends on whether the developers and community focus on users rather than short-term benefits.
Should traders invest in Dash?
The above information clearly indicates that Dash has many fundamental advantages over other digital currencies currently available.
How to Buy Dash in India Right Now?
If a trader decides to invest in Dash using CFDs, then he can bet on both growth and decline in the rate.
At the same time, you should remember about the most common terms and concepts:
- Long Position: You enter this position if you think the market will go up.
- A short position: you enter it if you are preparing for a decline.
- Spread. The most common way to compensate a CFD broker. Spread is the difference between bid and ask prices.
- Leverage or leverage. Allows you to increase your effective capital. This leverage allows you to double your profits with the correct forecast. However, leverage not only multiplies profits, but also proportionally increases losses.
- Stop loss. To avoid excessive losses, it is necessary to apply stop losses. These orders are automatically triggered and close the position when a certain price is reached.
- Take profit. This type of order automatically closes a position upon reaching a specific profit, the size of which is determined before the transaction is executed.
Leveraged (or margin) trading is not suitable for all investors. It is recommended only for traders who open positions for a few minutes or hours. Some brokers charge additional fees when the position is rolled over to the next day.
When properly organized, margin trading can be extremely profitable. You can start trading with only $ 10, and use the broker's support at any time.
If you decide to buy Dash in India on the exchange, then follow the general recommendations:
- Access accounts on exchanges only from your computer and with a VPN enabled;
- Don't use public Wi-Fi. Hackers can specifically organize a point to intercept your traffic and use it for their own purposes;
- Think about your savings. If something happens to you, loved ones should know how they can access your savings.
Choose your investment method based on the amount of free time and money you want to spend on making a profit. So go for it, successful bidding!