Two weeks ago we published an article on how to send payments via the Lightning Network and the advantages of doing so. This week we would like to turn our attention to the cryptocurrency Dash, which is already used by many of our customers, as it offers very cheap and instant transactions. In the future, we will also cover all other cryptocurrencies that we accept, each in a separate article.
What is Dash?
Dash is the abbreviation for "Digital Cash". The goal of Dash is to create a cryptocurrency that is simple enough to be used by any consumer without any prior knowledge. This ease of use also includes low fees and fast transaction times. To make sure that transactions are as fast as possible, a technology called InstantSend is used, which ensures that transactions are secured by the masternode network after only about 2 seconds. Previously InstantSend was a special feature that could only be used by certain wallets, but now every transaction benefits from this increased speed.
Which wallets support Dash?
If you want to use a cryptocurrency, you must first download a suitable wallet. In order to find the right wallet and not to be taken in by a scam, it makes sense to go to the official site of the corresponding cryptocurrency. On Dash.org there is a download area where all reputable wallets are linked. Besides the official wallets you can also find several multicoin wallets (Exodus, Jaxx, Edge, etc.) that support a variety of cryptocurrencies. In this article we would like to concentrate on the official wallets, whose development is financed by the Dash DAO.
The Dash Core Wallet is the most important Dash Wallet, which is also used to operate a full node (and masternode). If you choose Dash Core you have to download a complete copy of the Dash Blockchain, but you can also use the PrivateSend function to protect your privacy. The Dash blockchain is currently slightly larger than 20 GB.
Just like the Bitcoin Electrum Wallet, the Dash Electrum Wallet is a lightweight wallet that uses only a few MB on the target device. Nevertheless, with Dash Electrum it is possible to use PrivateSend and even access a hardware wallet. Another special feature of the Electrum Wallet is that the same wallet can be installed on both a desktop PC and a mobile phone.
The mobile Dash Wallet is available for both Android and iOS and can be used to perform dash transactions on the go. If you don't want to download the wallet from the Google Play Store, there is an APK on Dash.org for manual installation of the current version.
How to pay with Dash?
If you want to pay with Dash on ShopinBit, you must select "Bitcoin & other Cryptocurrencies" as your payment method at the checkout. This will open our CryptoPanel plug-in, which displays the four different cryptocurrencies Bitcoin, Dash, Bitcoin Cash and Litecoin. If you select Dash here, a QR code and a Dash address will be displayed. Depending on the wallet, you must either copy the address or scan the QR code with a camera to tell the wallet to which address the Dash should be sent.
In this screenshot you can see the Dash Core Wallet where the address and the amount have already been inserted. If you now click on Transfer, all you have to do is enter the password you used to secure the wallet and the Dash transaction will be executed in seconds:
What is Dash planning for the future?
The Dash Core Team is currently working on the release of Dash Platform. This platform will not only provide users with new possibilities, but will also make it easier to use. The version that is currently being tested on a test network allows, among other things, to send Dash to a user name instead of a long cryptographic address. In addition, users will be able to create a user profile with bio and profile picture and send contact requests to other users. This should make Dash feel more like PayPal in practice, without sacrificing the major advantages of cryptocurrencies, decentralisation and censorship resistance.