CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data. *Availability subject to regulation.
Dash is a digital currency similar to Bitcoin in many ways; it is open source (meaning anyone can view and propose contributions to its design), peer-to-peer (as opposed to being centrally owned and controlled), and transactions are secured using cryptography, making it a cryptocurrency. It was created by Evan Duffield, and initially released on the market as XCoin in 2014, becoming known as Darkcoin within months of its release. In 2015, it was rebranded as Dash (an amalgam of Digital Cash), and remains available under the DASH ticker.
As with other cryptocurrencies, Dash uses blockchain technology; an immutable digital ledger that records validated blocks of transactions, interlinked in chronological order. However, it differs from Bitcoin and other altcoins as there is an anonymity feature built in known as PrivateSend. This is appealing to users who want to prevent their transaction history from becoming public. Furthermore, Dash have pioneered an instant confirmation function, InstantSend, which is designed to overcome the problem of double spend at the point of payment.
InstantSend, PrivateSend and governance functions are carried out through a decentralised master node (or computer server) network, which allows them to be kept separate from functions carried out by miners, such as block creation. This two-tier system offers an additional layer of integrity and protection from network attacks.
Using a regulated online broker to trade cryptocurrencies such as Dash is advantageous as transactions can be seen and monitored on a regulated trading platform. Furthermore, clients will have access to expert analysis of market conditions, a range of educational tools, and often a personal account manager who can offer technical support amongst other things. Regulated brokers are required to comply with stringent regulations relating to financial reporting, security and protection of client funds. This is particularly reassuring given the number of scammers operating in the cryptocurrency market. In January 2017, for example, a fraudulent digital currency was circulating known as LCF Coin, associating itself with the Rothschild family name. Without the support and knowledge of a regulated broker, it can be difficult to differentiate between genuine trading opportunities and scams such as this one. There is only a select group of online regulated brokers who offer the opportunity to trade cryptocurrencies like Dash, such as AvaTrade and eToro.
AvaTrade offer a trading service that allows clients to hand over the entire process to capable experts. However, for those who wish to execute their own trades, a selection of different user-friendly, but powerful, trading platforms are available, including the popular MetaTrader4. This platform is accessible from a mobile phone or tablet, which is useful for those wanting to trade on the go, and it also provides access to learning tools and exclusive market analysis.
The value of Dash, as with many currencies, is influenced by the level of confidence that traders have in it. The higher the sense of trust, the more mainstream the currency will become and the more its value should rise or inflate. An example of how prices can rise was demonstrated between January and March 2017, when the value of Dash increased sevenfold up to $560 million.
Dash has been adopted by Bitcart, an Irish start-up that supplies Amazon gift cards. The global firm have abandoned Bitcoin in favour of Dash due to its instantaneous transaction ability. As Dash becomes a more widely accepted form of payment, its popularity will increase; an outcome that Bitcart is trying to encourage by offering a 20% discount for customers who use Dash to pay for Amazon gift cards.
Year Dash started: 2014
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