When you dive deep into cryptocurrency, you have to go a little bit deeper than the default choices. When you’re starting to get serious about investing you look past Bitcoin and brush away Ethereum. As the dust all settles around you, you find out you have a couple dozen choices to pick from. You can’t take any of it likely and each one comes with a benefit. For those who wanted to jump onto Bitcoin but looked away, you may have noticed a cryptocurrency known as Dash.
Dash stands out from Bitcoin in terms of how they handle transactions. With Bitcoin, a person can expect to pay up to $6 per transaction, and it takes about 10 minutes to complete. Comparatively, Dash costs a person $0.4 per transaction and it finishes within four seconds. While the price of the Dash transaction will rise as more users invest in it, the cost would never reach the lengths of Bitcoin.
A Dash user can also choose to take advantage of two notable features: PrivateSend and InstantSend. When you use PrivateSend, this program hides a transaction you make by mixing it up with others that look similar to it. This prevents an outsider from learning about your transaction history. InstantSend works exactly as it sounds. This program immediately sends a transfer of funds between two parties, faster than Dash’s already quick reaction time. A Dash user would likely use this when directly paying a merchant and not a friend they owe money to.
To add a little more flavor to the pot, the developers behind Dash want to work with their community to choose the direction to take the cryptocurrency. They created a voting system where everyone with an investment in Dash can make a choice. The more you invest in the cryptocurrency, the more votes you have.
For a person who wants to use their cryptocurrency to make purchases, Dash already makes more sense. Though the price of a single token pales in comparison to Bitcoin, a Dash owner can make quicker, cheaper transactions.
Once you have decided you’d like to invest in Dash, you need to start thinking about what digital wallet you want to use. You should probably do this prior to purchasing any tokens. You don’t want to leave your recently bought tokens on an exchange website and risk having them disappear. Better to have a wallet account created and ready to start accepting your cryptocurrency as soon as possible.
What sort of Dash wallet should you go with? Can you have a Dash wallet on your smartphone? Do you have to connect to the Dash blockchain? Can you mine the cryptocurrency from your Dash wallet?
This list features the best wallets currently available for you to choose from. Each one comes with a unique set of features and you can use them from on a variety of different devices. Keep in mind, not every wallet listed below uses the PrivateSend and InstantSend features. You will learn about which do and don’t in their respective description.
The Dash Core wallet was created by the developers as the default method for every user to handle their tokens. This wallet grants you access to features such as PrivateSend, InstantSend, masternode management, and having ownership of your private keys.
A large downside to choosing this wallet lies in the amount of disk space you’ll need to preserve for it. Because of this you’ll need to ensure you have newer and higher end computer to reliably use it.
You can download this wallet to a desktop with a Windows, Mac, or Linux operating system. You can also download the Dash Core application for your iOS smartphone, however this only uses Instantsend.
Exodus works great for those who plan to keep track of more than one cryptocurrency. This desktop application displays a chart showing all of your currencies with your total investment number in the middle. Though, don’t feel pressured to invest in other cryptocurrency or feel like you should. The simple user interface makes it an ideal starting wallet for beginning investors.
You can download this wallet to your desktop with a Windows, Linux, or a Mac operating system. This wallet does not use the InstantSend or PrivateSend features.
Jaxx was created by a team of developers who wanted to make handling cryptocurrency easy for everyone. The user interface of this wallet was designed to feel as efficient and clean as possible, across all its platforms. Though, unlike the Dash Core, Jaxx does not have access to the PrivateSend and InstantSend features.
However, if you find yourself wanting to investigate other cryptocurrencies you can make use of the application’s Shapeshift.io integration. This gives you the the chance to exchange cryptocurrency with another from your wallet without having to visit an exchange website.
You can download this wallet to your desktop with a Windows, Mac, or Linux operating system. Also, you can have it on your Android or iOS smartphone when you’re away from your workspace.
Coinomi was built for those who want to receive their cryptocurrency on the spot and find themselves constantly moving. This application only takes a few clicks to get it set up on your phone and ready to receive cryptocurrency. While the application was designed as a convenience, it does not come with access to the PrivateSend and InstantSend features.
Due to this mobile-only application acting as a hot wallet, it’s best to treat this application with care. You may want to keep only a portion of your Dash funds on this account and purchase day to day items.
You can only download Coinomi to your Android or iOS smartphone.
Ledger Nano S
Of the wallets shown on this list, the Ledger Nano S comes with the amount of security. Instead of keeping it on a digital network, you transfer your cryptocurrency information from a website to a device. The device works similarly to a flash drive. You plug the device into your computer, download the information from your Ledger account, and then unplug it.
If someone wanted to get access to your cryptocurrency they would have to physically hold the Ledger. As long as you keep the device safeguarded, no one can tamper with your account. The downside is needing to keep track of the Ledger as if it were an actual wallet.
Unlike the other wallets featured on this list, you need to pay for this device. It costs 79.99 €. This cold storage wallet may best work for those who plan to stay invested in cryptocurrency for the long term. This wallet does not make use of the Dash InstantSend or PrivateSend features.
For anyone who did not locate a compatible wallet to use, the Dash development team created a page showcasing all of the wallets that accept Dash. Check those out and make sure you do your research before placing your cryptocurrency on an account.