If you are interested in trading altcoins, there are many to choose from. Bitcoin has hogged most of the limelight, but others such as Ripple, Ethereum and Litecoin to name a few, have also captured the eye of investors. Yet among all the altcoins out there, there is one that has gained in popularity far more quickly than most of its peers: Dash.
Dash has been operational since January 2014 and has been incredibly popular attracting a large base of investors right from the start. This is in stark contrast to most alt coins which have taken a longer period of time increase in popularity. It had an exceptional 2017, witnessing strong growth and currently has a market cap of around $3 billion.
Why is Dash so popular?
There tends to be a handful of reasons why traders and investors are driven towards an altcoin trade. Firstly, they might consider it just a bit of fun or an experiment as they delve into a new area. Alternatively, some traders buy into a particular altcoin because they believe in the project from a technological point of view. Either way, investors will usually chose an altcoin which has a strong baseline following. Dash’s strong base following has helped it charge ahead of other altcoins that were created at the same time and continue to contribute to its increasing popularity.
Looking at the technology behind Dash also helps us to understand why it is so popular. Speed is extremely important in the cryptocurrency world, not just in mining but also in transaction speed. Dash coins can be mined in 1 – 2 days, extremely quickly compared to some of its peers. Furthermore, transactions are instantaneous through InstaSend and also cheap at just $0.60 compared to $30 for a Bitcoin transaction at its peak. Since then, Dash transactions have dropped to just $0.2 giving it even more potential.
Whilst Dash is not as well known as Bitcoin it is still liquid and listed on numerous exchanges. Dash coins are also accepted in all online affiliate stores. Furthermore, the future of Dash looks promising. Dash’s development team are aiming towards mass adoption of the altcoin by working closely and moved into partnership with businesses.
Finally, the price of Dash is also much more attractive than that of Bitcoin. Dash trades at around $480, significantly below Bitcoin’s $9500.
Where to trade Dash?
So now that you know a little more about Dash, you may be interested in adding it to your portfolio. Vantage FX offers its clients the ability to trade cryptocurrencies such as Dash through its platform and through MT4 or MT5 accounts. Importantly you can trade from small contract sizes up to a maximum of 50 contracts, whilst also having access to the world-renowned charting package and indicators available on the MT4 and MT5 platforms. Finally, it is essential that you only trade cryptocurrencies with a regulated broker. Vantage FX is regulated by the AISC giving you peace of mind as you trade.