Cryptocurrency became really popular recently but what is it? Cryptocurrency is a kind of digital money based on cryptography technology. It does not have a physical form and exists only in electronic form.
Cryptocurrency list contains lots of coins and Bitcoin, DASH and Dagcoin are there among the most successful. So, let’s learn more about these digital coins.
What the Hell is Bitcoin and How to Get Profit?
Bitcoin is the first virtual currency based on Blockchain technology. This is a decentralized database, which, unlike traditional bases, is protected from cyber-attacks and physical destruction.
Interest in this cryptocurrency is fueled by an unprecedented increase in its value. The price of Bitcoin has grown from 35 cents per thousand to 3 thousand dollars for one coin since it was started. Every day there are more people willing not only to buy Bitcoins, but also to mine this digital currency. The point is that it’s believed that this whole system is a bubble that can burst at any moment.
How Can You Make Money with Bitcoin?
There are a few ways how to make money with Bitcoin. The first one is Bitcoin mining. This is how this cryptocurrency is literally obtained from the air. It’s based on complex calculations, which are performed by CPU and GPU. After that, the system issues a special code, this is Bitcoin. For ordinary people, this is too difficult. First of all, the power consumption is very high. Also, you should think about how long does it take to mine a Bitcoin. It can take a lot of time.
One another option is trading on the fluctuation rate. For such trading, you must register on a reliable Bitcoin exchange. The point is that the cost of Bitcoin is constantly changing. You need to monitor the price changes and look for the cheapest way to buy Bitcoin and sell it on the highest rate.
Also, it’s never too late to invest in Bitcoin and it’s absolutely easy. We buy Bitcoin and wait until its price increases significantly. Then we sell our coins and earn money. Consider that you may wait for a month or more. Moreover, there is a risk of losing money due to the fall of the Bitcoin rate.
Finally, you can earn on the Bitcoin price difference on various exchanges. As a rule, Bitcoin price differs significantly on various large exchanges. The essence of the method is simple – we buy Bitcoins on one exchange and sell them on another. Using this method, you should keep in mind that Bitcoin transaction unconfirmed for hours and during this period the price may change significantly.
What is DASH Cryptocurrency and How to Get It?
DASH is a digital currency with a high level of anonymity, which was originally created as a Bitcoin alternative. It is decentralized, which means there is no central issuer and each network participant is equal. Also, its production does not need such high capacity as in the case of BTC.
DASH is convenient to use for making everyday payments, as there is an instant transaction function. It works using the InstantSend service. As a result, Dash Core, the company that developed the coin, has signed an agreement with the online banking platform Wirex. This agreement provides for the integration of cryptocurrency in the banking system.
Advantages of DASH Digital Currency
Dash, as well as Bitcoin, is based on Blockchain, it is mined and traded on exchanges. But these cryptocurrencies have some conceptual differences. DASH currency has:
❖ InstantSend service for instant transactions;
❖ PrivateSend service for additional anonymity;
❖ Lower power consumption for mining;
❖ Decentralized network.
How to Get DASH Crypto?
If you want to have this cryptocurrency, you need to get a DASHcoin wallet. As soon as you’ve created a DASH wallet, you have several purchase options:
❖ Buy DASH on a cryptocurrency exchange platform;
❖ Launch DASH Masternode;
❖ Use DASH crane;
❖ Mine DASH using your PC.
If we talk about the first option, it’s better to use the sites for monitoring the exchange points, the rate and capitalization of cryptocurrency. It gives you an opportunity to find the moment when you can get the most profit.
The second option is a great opportunity to get the profit, but you need to have 1000 DASH at the very beginning and be ready to participate into DASH management.
DASH crane is an absolutely free option, but it can be rather slowly. Most crane services offer really low daily income so do not expect to get a big income quickly.
If we talk about DASH coin mining, it is profitable only in case you use special ASIC-miners. Of course, you can use CPU and GPU but there are no economic benefits.
What is Dagcoin & How It Differs?
Dagcoin is a cryptocurrency that was created in Estonia and it’s the first digital currency that has a capability of being used as an everyday currency. The point is that Dagcoin has its own ecosystem that includes of DagWallet, Dagpay, Merchant Finder and SwipeX. One another point is that Dagcoin is a decentralized digital coin and it’s based on the Directed Acyclic Graph organizational model.
Making a decision to use Dagcoin, consider the fact that it uses Byteball network. It allows securing each transaction by referencing earlier created transactions. It removes scalability limits.
Dagcoin Characteristics and Advantages
Dagcoin cryptocurrency has a bunch of advantages and first of all the width of the network should be mentioned. Due to the extensive ecosystem, Dagcoin users can perform transactions faster and easier using the data of previous transactions.
One another option that allows reducing the time of transaction is blockless nature. In other words, all transactions are held faster because there is no data saved in Blockchain.
As a result of the Blockchain absence, there is no possibility to mine dagcoins. In simple words, you can get this digital coin only buying it on cryptocurrency exchanges.
One of the main advantages of Dagcoin is that its system allows holding small transactions. It’s really suitable for those who use this cryptocurrency for everyday usage.
Also, the company continues the search for businesses that will accept this coin. It means, that you’ll have an opportunity to use this cryptocurrency for a bigger variety of purposes, buying numerous services and products.