Buy Dash
The cryptocurrency market is developing very rapidly. It is not at all surprising that in the wake of the popularity of these payment systems, more and more new players are appearing on the market. One of these promising newcomers was the Dash cryptocurrency, which appeared several years ago.
What is Dash?
Dash is a decentralized cryptocurrency and open payment system designed to ensure high anonymity of transactions. Today it is among the top ten electronic currencies and has a very high share of capitalization exceeding two billion dollars. The price of one Dash coin is now about $ 700 and fluctuates within plus or minus $ 50.
Dash cryptocurrency was founded by a young programmer Evan Duffield in 2014. So within a short time, XCoin (the first working title of the project) was born. Then the currency acquired the name Darkcoin, emphasizing that the user of this system remains completely anonymous. And finally, on March 25, 2015, the already familiar cryptocurrency coinDash arrived.
The Dash cryptocurrency is very flexible in terms of organization of work and always meets the needs of users.
The main characteristics of the Dash cryptocurrency include:
- High degree of anonymity and transaction speed.
- Decentralized governance and decision making.
- A simplified and energy efficient way of mining using the X11 protocol.
PrivateSend
PrivateSend is a system that allows you to increase the anonymity of payments by combining inputs from multiple accounts in one transaction and using multiple outputs at once. This helps Dash cryptocurrency users to effectively hide their payments.
InstantSend
InstantSend is a useful feature that allows you to make instant transactions. Instead of being validated by miners, transactions are validated by masternodes that use PoS consensus rather than PoW.
Masternode
Masternode is a super-privileged super node on the Dash network. Masternodes perform not only standard functions, such as synchronization with the blockchain, block mining, transaction confirmation, but can also vote on proposals to improve the protocol, mix transactions using PrivateSend and allow InstantSend instant transactions.
How does Dash work?
Dash developers have created a unique two-layer protocol that runs on X11 (Proof-of-Work) and masternodes (Proof-of-Stake). We wrote more about this architecture in the article about masternodes. Therefore, in this article, we will only briefly describe the principles of the dash protocol.
What makes Dash unique?
Dash was one of the first protocols to implement a masternode system and a decentralized autonomous organization (DAO). The Dash team has developed the PrivateSend and InstantSend functionality.
Where to buy Dash in Kenya?
You can buy Dash in Kenya simply and easily from an exchange or an online trading platform. When purchasing digital coins through a cryptocurrency exchange, you will need to study a lot of information on this topic, as well as constantly monitor the rates of cryptocurrencies.
To buy Dash in Kenya on a trading platform, you will need a reliable online brokerage platform. An online broker allows a trader to exchange the difference in a contract (CFD) for the price movement of a specific asset upon entering and exiting a contract - without owning the underlying asset. That is, you can make a profit not only if the price rises, but also if it decreases. We wish you success and stable profit!
How to start investing in Dash in Kenya?
The army of investors is growing almost by the hour, confirming the thesis that cryptocurrencies are an effective financial product that heralds the arrival of a new order of things. Dash cryptocurrency serves as a digital currency or virtual money that has no physical value. Today, there is a gradual demand for investing in Dash on the network, so many users are interested in knowing how to properly manage a deal in order to get a good profit.
Money Management is a set of rules for managing money in the market. The set of rules includes: the size of the position to be opened, the maximum risk per one trade, the calculation of profit per one trade, etc. Professionals often trade only with their own money without using borrowed funds.
Money management rules:
- Open positions only in small lots. If the deal is successful, then buy more.
- Always use stop loss.
- Do not risk more than 5% of the total capital in one transaction.
- If the market is moving in your direction, then just wait. No need to twitch and look for exit points. The trend never changes instantly.
- Partially withdraw profit.
Neither the most experienced analyst can give an exact guarantee of where the price will go in a given trade. The market is extremely volatile. In the short-term view, the price movement looks chaotic. More accurate forecasts can be made only on daily charts (and this is more an investment approach than trading).
If you decide to start investing in Dash in Kenya, then you should not forget about the rules of money management, applying which you can have high income. If a trader trades at random and achieves results, then this is due to sheer luck, and the results will only be short-term.
Only those who have done soberly with a cold calculation, calculated money management, and then simply follow their trading system, succeed in the market.
If you start investing in Dash, following the basic rules of money management, then the risk of losing your deposit is negligible. Even if a trader has a long "black streak", then all losses will be limited, which means he will have a chance to restore his balance. Every trader who decides to invest in Dash in Kenya should have a different approach that suits his psyche and strategy.
Limit the risk per trade
It is recommended to limit your loss based on the percentage of risk per trade. The maximum loss in textbooks is 2% of the deposit. That is, in one transaction (or a group of transactions), the risk of loss should not exceed more than 2% of the deposit. If you trade with leverage, the stop loss will be shorter accordingly.
This rule allows you to comfortably experience losses and look at the market sensibly. The risk of losing 50 times in a row (2% each) is so small that it is difficult to quantify. Therefore, traders who start investing in Dash adhere to this rule and never lose all their money.
Always place a stop loss
Stop loss allows you to limit losses. Traders are extremely reluctant to place them. After all, nobody wants to catch the "moose". In fact, this is a loss fixation. It is extremely painful for a trader to be kicked out of the market with a fixed loss, despite the fact that he generally guessed the direction.
Stop loss allows you to limit the deposit from heavy losses. The trader must understand that not all trades are profitable. Therefore, it is imperative to place stops and limit your losses. It is better to lose 1% now than to sit with a 10% loss in a week.
Do not open a position with all the money
Any trader strives to "squeeze" the maximum profit from his deposit. Therefore, most open positions on a full deposit. And as practice shows, this approach has more disadvantages than advantages. To solve this problem, you need to enter the market gradually. For example, open a position for 5-10% of your deposit. Ideally, you should always have some kind of reserve that you can always connect to trading to make even more money.
Use your shoulder only when needed
Money management fully accepts margin trading using leveraged funds (leverage). During periods of strong trend, this is useful for building up your capital. The main thing is to do everything adequately and in no case sit out the loss. The opportunity to borrow from a broker is very tempting. Leverage allows you to make more money, but in the same proportion to lose it. Therefore, use leverage only when absolutely necessary when the market offers a clear chance of making money. I recommend that you never take a leverage above 3 in a trade.
Don't lose your mind when more can be bought.
Potential profit-to-loss ratio of 3 to 1
The classic approach to developing a strategy is that the trader knows in advance where the stop loss will be and where the take profit will be. Therefore, he knows the ratio of potential profit to loss. The main idea of this rule: to open trades that can bring potential profit more than loss. In this case, the optimal ratio should be somewhere from 3 to 1 or more. This approach is best used in long-term trading by identifying the correct entry points to the trade.
Don't stop profits from growing
Newbie traders, seeing profit, always try to fix it as soon as possible. As a result, it turns out that they leave earlier than necessary and earn a penny. This approach is wrong. You need to overcome yourself and let the profit grow. There is no need to look for exit points in a growing market. History has shown that the market can grow for several years in a row.
Money management allows you to manage risk, which is very important for traders who decide to invest in Dash. This is a strict and cold calculation to achieve goals. All traders who stay in the market always come to the conclusion that money management is one of the keys to successful trading. We wish you success and stable profit!
Is Dash a good investment?
Dash has a great history and a clear future. She also has a strong community and a good reputation at the moment. The unique two-tier architecture allows for a large number of transactions and efficiently manage development. As a result, Dash is one of the top cryptocurrencies that is several steps ahead of most projects.
Should traders invest in Dash?
If you are looking to buy coins for investment or trading purposes, this is a wise decision. Dash's current market value suggests staggering growth. The above factors in terms of safety and benefits also claim a prosperous future.
Since the start of the price movement in early 2017, the coin has mainly followed the general market. It is worth noting, however, that the price tends to fluctuate more volatile than other altcoins - in both directions. Dash performed better than most altcoins during the 2018 bear market.
How to buy Dash in Kenya right now?
The easiest way to start investing Dash in Kenya is through an online brokerage platform. The CFD trading platform allows the trader to make profits on a bi-directional basis. Buyers can profit if they go long at lower prices and close at higher prices.
You are simply speculating on the rise and fall of the Dash. Try it now and you will definitely get rich!
If you decide to invest Dash in Kenya through an exchange, then it goes through one scenario. But don't forget about some of the nuances:
- Wait and monitor news, quotes until the desired price mark occurs, then you can fix your profit;
- Create a cryptocurrency wallet - cold, since storing funds over a long distance on a crypto exchange can be dangerous;
- Withdrawing a coin to your wallet, or to reduce costs in the form of commissions, the amount can be divided into two parts.
Investing in Dash in Kenya does not require large investments, you only need free time. Give it a try and see if you succeed!
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