If you look at what part of the funds goes in circulation by bank transfer and how much is used in cash, you will notice that the volume of the former is growing rapidly every year. Cashless payment is more convenient, it allows you to track and analyze your income and expenses. It is much safer, both in terms of personal hygiene and in terms of safety of funds.
What is Dash?
Dash allows you to send and receive payments around the world using the blockchain system. Dash gives you the freedom to carry out any kind of money transactions. However, at the same time, Dash guarantees an increase in the speed of transactions and enhancement of their privacy.
The Dash coin (from the words "Digital" and "Cash") was released by Evan Duffield on January 18, 2014 under the name "Xcoin (XCO)". It was rebranded in March 2015 and the cryptocurrency has been called Dash ever since. Dash is maintained and developed by the Dash Core Group, Inc. The team working on improving the cryptoasset consists of 34 specialists from around the world. The main office is located in Phoenix, Arizona, USA.
The Dash cryptocurrency was born and successfully developed in Venezuela.
DASH cryptocurrency has a number of features that distinguish it from BTC and other coins:
- X11 algorithm based on sequential application of 11 hash functions.
- Two levels of transaction validation. Regular transfers are confirmed by including blocks mined by miners on the chain. In parallel, some of these functions are performed by special nodes - masternodes.
- A smooth increase in the difficulty of mining new blocks based on moving averages.
- Complete anonymity of transfers, which is achieved using the PrivateSend technology.
Where does Dash come from?
In the Dash blockchain, the system of miners is divided into two parts - Masternodes and miners. Masternodes act as special servers - nodes that are responsible for PrivateSend transactions and InstantSend instant transactions.
Masternodes ensure that transactions are as fast as cash and non-cash fiat currencies. This requires a lot of computing power, and, accordingly, the cost of their maintenance and electricity, so masternodes are rewarded from the network.
How does Dash work?
Dash is an international cryptocurrency and payment system based on the Bitcoin code. With its help, you can make payments absolutely anonymously and instantly. Account holders in this system will be able to transfer money to each other, pay for services and goods, and make purchases in online stores around the world. Hundreds of stores from dozens of countries work with cryptocurrency. The payment system is absolutely private, and this is its main advantage.
What makes Dash unique?
Dash deservedly maintains its reputation as the most decentralized ecosystem because it uses a dedicated DAPI interface. This is the name of the site where everyone can create their own programs, one way or another interacting with Dash.
The main work takes place on masternodes, they verify the transactions carried out and maintain high performance of the operations performed.
Where to Buy Dash in Somalia?
You can buy Dash in Somalia through a brokerage trading platform. You just need to choose a broker with low commissions and a reliable trading system. After all, this will largely be the key to a successful start. On the brokerage platform, you will be asked to buy Dash through a CFD product. This method is popular in markets around the world, so it makes them highly available, and traders can make money on the change in the value of the cryptocurrency, without buying the investment itself.
An alternative way to buy Dash in Somalia is through one of the cryptocurrency exchanges, including Binance.
How to start investing in Dash in Somalia?
The debate between traders and investors over which method of analysis is the best when trading cryptocurrency has been going on for quite some time. On the one hand, fundamental analysis has proven particularly effective for seasoned investors like Warren Buffett and Ralph Seger. On the other hand, technical analysis has its merits. In several markets around the world, traders have made millions through technical analysis.
The combination of fundamental and technical analysis gives the best results, especially in the crypto space, where nothing is easily predictable. Just do it!
Technical analysis is based on the study of cryptocurrency price charts. In fact, market value is the only parameter that is considered in such an analysis. And it is with her that the main postulates of technical analysis are connected:
- The asset price already contains all the factors that affect it.
- The price of an asset does not change by chance.
- History tends to repeat itself.
When a trader wants to invest in Dash in Somalia, technical analysis will help study the change in the market value of a cryptocurrency using specific indicators.
This is the general direction in which the price of the cryptocurrency is moving. If it rises, the trend is up; if it falls, it is downtrend. It is profitable to buy an asset on a downtrend, and to sell on an uptrend.
Often, the graph of the market value of a cryptocurrency looks like a chaotic series of ups and downs. In this case, experienced traders are advised to simply close their eyes to the high volatility of coins. If a series of lower extremes (highs and lows) are clearly traced, then this indicates a downtrend, and higher ones - an uptrend. If the trend is sideways, it means that the price of the cryptocurrency is not experiencing any sharp jumps. In this case, it is better to postpone trading operations with it for a more appropriate time.
This is an auxiliary indicator that allows you to more accurately determine the current trend. For the calculation, the arithmetic mean values of the market value are taken for a certain period of time (for example, a week). In this case, sharp jumps in the rate are smoothed out, and the resulting straight line shows whether the price is falling or growing.
Defined as the price at which users are willing to buy an “oversold” asset. When the cost reaches this level, players begin to massively buy up cryptocurrency, and the support level itself becomes a "floor", below which the price does not fall. If the support level is high, then this indicates a high demand for Dash, which will predict its further growth.
This will give the trader information about the minimum price at which it will be possible to start investing in Dash in the near future.
This is the price at which users are willing to sell an “overbought” asset (one that is trading at a price higher than the actual price). When the value of a cryptocurrency reaches this level, players begin to sell assets, preventing a sharp rise in their market value. A high resistance level indicates a falling demand for a cryptocurrency and shows the trader a "ceiling" above which its price cannot rise in the short term.
Unlike technical analysis, fundamental analysis studies the reasons why the price of a cryptocurrency changes. And there are a lot of reasons for these: the prevalence and practical application of the coin, the reputation and authority of the developers, the news background, the integration of cryptocurrency into the real sector of the economy, the presence of well-known investors and partners, relationships with financial institutions, the reaction to government control and regulation, and so on.
Fundamental analysis will help assess the real value of the Dash cryptocurrency and compare it with the speculative price in the market.
If a trader is confident that the cryptocurrency has bright prospects in the future, then he can immediately invest in Dash for a long time.
Proponents of fundamental analysis read that for short periods of time, the price of a cryptocurrency is always speculative and does not correspond to the real value. But these prices are gradually leveled out, and in the long term they are reaching the same objective level. To determine this level, you have to collect all the available information about the cryptocurrency, analyze its pros and cons, assess the demand and position in the market. But the game is worth the candle.
Technical analysis is very practical, accurate in the short term and convenient in terms of choosing points to enter the market. It does not require any complex skills or specific skills. Fundamental analysis is more laborious and complex, less accessible to novice investors, but the most effective for long-term investment. These analyzes are so different that both seem to be the best solution. This is exactly what experienced traders advise to do.
If you want to make money consistently, you must adhere to a clear trading system. Without a clear strategy, trading in the stock market turns into chaos.
- Intraday trading. Most often, volatile products with large fluctuations are chosen for trading with this strategy, and the total duration of a transaction is often several minutes. Very often intraday trading on the exchange trades operate with borrowed funds. They are returned to the lender on the same day, allowing no interest to be paid.
- Positional. Transactions are made with the aim of getting 10-50% movement. Usually they happen every few months. This approach does not take much time and really brings profit to traders.
- Scalping. Super short trades. Based on the difference between the buy and sell price. The scalper buys securities at the ask price and immediately opens a sell position, indicating the ask price.
- Swing trade. It assumes holding a position in a time interval for more than one day. Accordingly, the asset is bought at a low point and sold after the price rises.
Is it safe to invest in Dash in Somalia online?
The security of the Dash network is guaranteed by a special Darksend engine, which guarantees anonymity and minimal human participation in the payment.
Is Dash a good investment?
In July 2020, Dash traded around $75. This development of events is associated with the general collapse of the cryptocurrency market and the appearance of competitors-altcoins in the coin. The future prospects for the Dash cryptocurrency have positive forecasts.
How to Buy Dash in Somalia Right Now?
To buy Dash in Somalia, create your account on a crypto wallet. The exchanges are easy to use, have a large volume of purchases and sales, and offer a variety of payment methods. The Dash coin is in high demand, that is, it can be easily exchanged for other money. Transactions with it are made on one of the popular exchanges - Binance. The main Dash pairs are DSH / USD, DASH / BTC, BTC / DASH.
You can store Dash cryptocurrency on the official wallet, and among third-party developers. If the amounts are large, then it is better to use a special hardware safe Ledger, Trezor or KeepKey.
To profit from the market, start investing in Dash through a brokerage company. The broker usually has a simpler registration procedure and replenishment of the deposit for the purchase of cryptocurrency. On the CFD trading platform, you can make money on "predictions" of the behavior of the cryptocurrency rate. To do this, the trader needs to place a bet on which direction the asset price will go.
When you start investing in Dash in Somalia, you will have access to the leveraged trading option found on many cryptocurrency exchanges and trading platforms. Margin trading is an additional option, and it is up to the trader to decide whether to use borrowed funds to invest in Dash or not. You should always remember that leverage in the cryptocurrency market can both enrich and ruin a trader.
Cryptocurrency transactions are already firmly entwined in the modern world, and Dash is certainly one of the most promising here. So start investing in Dash now. Give it a try and see what happens!