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Dash has been around longer than most digital assets. It has successfully carved out a niche for itself in the area of crypto payment solutions. Unlike its predecessors Bitcoin and Litecoin, it seeks to offer a measure of privacy to its users.
If you are among the ardent supporters of this coin or would like to get started, a Dash wallet coin is among the thing you need. There are more options in the market than the world needs and making your pick could prove challenging.
To help you along, we have created the ultimate guide to the best Dash wallets and how to open them. We have made a thorough comparison of the available options and offered you useful insights into each one.
Dive in to find the best solution for your Dash storage and transaction needs.
What is a Dash Wallet?
Dash is a semi-private cryptocurrency built on the basis of the bitcoin and Litecoin code bases. It debuted in 2014, with a focus on solving three main weaknesses on the Bitcoin blockchain, governance, privacy and transaction speeds. Since its inception, it has consistently remained in the top 20 cryptocurrencies category by market capitalization.
If you are interested in holding or trading Dash, you need a Dash wallet. This refers to a storage solution designed specifically to hold Dash private and public keys so as to facilitate storage and transfers.
Best Dash Wallet Providers
Binance has made a reputation as one of the biggest crypto trading exchange. As proof of this, the exchange handles over $940,000 in trading volume every 24 hours at the time of writing this article.
The platform’s CEO, Changpeng Zhao has been in the financial trading industry for ages and comes with great experience. Another highlight of the platform is its support for a wide array of digital assets.
To open your own Binance account and get started trading Dash and other coins, follow these steps:
Step 1 – Create Your Binance Account.
Enter your email address and create a password to register your Binance account.
Check your inbox for an email from Binance and click on the link in it to proceed to your account.
Once you do so, the system will take you to your account and you will get a prompt to add more information about yourself. Doing this will allow you to access the full functionality of the site.
Note that unlike on Coinbase, you cannot use fiat money to buy Dash on Binance.
Note: You can’t buy Dash with fiat money (like USD) on Binance.
Step 2 – Go to “Funds” > “Balances”
Anytime you buy a cryptocurrency on the site, you will be able to view it on the “Balances” page. All your wallets appear here, with those that have coins in them being on top of the pile.
To send Dash to your Dash wallet address, click “Deposit” and from there on you can start trading Ethereum with the other assets on Binance.
If you would rather have your wallet on your desktop, then Exodus wallet is one of the best software wallets. It has support for a number of cryptocurrencies and is easy to use. Unlike other options out there, Exodus does not require any personal information or verification procedure.
It stores your wallet private keys on the PC in encrypted form and also offers crypto exchange services for its users. To open your own Exodus account, here is what you need to do:
Step 1: Download Exodus.
Download the wallet to your desktop and install it, following the prompts on your screen.
Step 2: Open Your Exodus Dash Wallet.
Once you open your Dash wallet, you will see the hundreds of cryptocurrencies it supports. To view Dash, click the “Wallet” button on the left side and then click “Dash.”
This will let you view your wallet balance, wallet address and any other information you require.
Infinito is one of the most versatile mobile wallets in the market. It supports numerous major coins as well as ERC20, NEP5 and ERC223 tokens. In addition to this, the wallet has a beautiful layout and intuitive user interface.
Here is how to open your own Infinito wallet:
Step 1: Download Infinito Wallet
Go to Infinitowallet.io and then click “Download” on the top right side. Choose the file suitable for your device and install it on your device.
Follow the prompts to open the wallet.
Step 2: Go to the Dash Wallet already within Infinito
Once you open your wallet, Dash wallet will already be active. You can start using it for transactions and storage immediately.
Guarda is a web-based multicurrency wallet that allows you to easily transact on the go and keep your funds within reach. It also lets you buy crypto using bank transfer or MasterCard. Guarda supports a wide range of coins including Dash and is easy to use.
Here is what you need to do to open your own Guarda wallet:
Step 1: Create a Guarda Wallet
Go to Guarda.co and click “Create Wallet”. Follow the steps that appear on the screen to create your account or download it to your mobile device.
Once you create the wallet, remember to back it up so as to avoid losing your funds in case you lose access to it in future.
Step 2: Access your Dash wallet
Once you open your account, the Dash wallet will be active. Click on it to store your Dash or start transacting in it.
Best Dash Wallets in Your Country
Our favorite wallet recommendation for Dash wallet users in the UK is Coinbase.
As mentioned earlier, it is regulated by the FCA, one of the top financial regulators in the UK. It also comes under the purview of MiFID. Regulatory scrutiny from multiple entities makes it one of the most secure options.
Additionally, it currently supports digital asset trading as well as CFDs. It has numerous trading options for different user levels. Beginners can learn the ropes from more seasoned traders by copying their moves. Experts in turn earn a commission from this type of trade.
Coinbase has been around longer than most platforms in the crypto space. In its years of existence, it has not once been compromised. On the contrary, it has managed to create a reputable name on an international scope.
Coinbase arrived late in the US scene and is fully licensed to operate in North America as well as Canada. It announced its launch in the US in March this year and offers a wide range of services for its users.
Besides crypto storage and trading, the platform also offers exchange services. It provides a comprehensive user experience on the mobile wallet app.
In Australia as well as New Zealand, Binance is the most popular crypto platform and wallet service provider. However, as a point of caution, do not keep your funds on any exchange wallet for long-term storage.
Such funds are essentially stored in hot wallets online and are therefore vulnerable to attacks malicious actors. Though Binance has never been hacked since its inception, make it a habit to transfer funds to more secure storage solutions when not in use.
Differences Between Exchange, Hardware and Software Crypto Wallets
We have mentioned different types of wallets for Dash. But you may have a hard time understanding the difference between them and knowing what’s best for your needs. To help you along, below is an overview of the different types of wallets for Dash:
Best Dash Wallet on Mobile
Best Dash Wallet Apple
If you operate an iOS device, you have many options of Dash mobile wallets to pick from. Two of our favorites are Jaxx and Coinbase.
Jaxx has been in the crypto space for a considerably long time and has a strong reputation. It stores your Dash private keys on your device, making it a great non-custodian choice.
Coinbase beats Jaxx in that it is a fully licensed platform and is thus a more secure option.
Best Dash Wallet Android
For Android users, our favourite option is Coinomi which like Jaxx, stores user private keys on-device. It also used to be an open source project, which is a major plus security-wise.
However, after a clone of the service appeared online with malicious intent, the team opted to close the source code.
It supports numerous coins and offers lots of versatility. But if you want a more functional option, we recommend Coinbase, which offers as much functionality for newbies as it does for experts.
There are hundreds of Dash wallets available on mobile devices. Most of them are not worth your consideration. Here are the things to consider when choosing Apple and Android crypto applications:
A lot of work goes into choosing the right Dash wallet for your personal needs. Based on your type of device, intended use for the wallet and personal preferences, you now have lots of reliable options to pick from.
But before you settle on any one of them, make sure that their security framework is verifiable. Security is obviously the most important aspect to keep in mind to ensure your funds remain intact.
In addition to security, you may want to look at ease of use and convenience. No matter what your needs are, a good wallet is one which you can operate without the need for a manual.
Furthermore, it is important to find out how supportive the support team actually is. To find information about this, visit discussion forums like Reddit to see what first-hand users have to say.
And finally, remember to take the security of your wallet seriously by using a strong password and saving the recovery key or backup securely. Happy trading!
More Cryptocurrency Wallets
Dash is an acronym for Digital Cash, and refers to a cryptocurrency that facilitates seamless payments globally without the need for a centralized authority. It seeks to offer an alternative to fiat money for payments. Initially, it went by the name XCoin, later rebranding to DarkCoin and then finally, Dash.
Dash was launched in 2014 by Evan Duffield and is based on the Bitcoin protocol.
Dash masternodes are a unique feature of the network which form a secondary network layer to ensure that the Dash blockchain is accessible to all participants. They also serve to keep the network in good health, by overseeing governance, secure user data storage. Another function they play is transaction processing for private transactions and light wallets.
PrivateSend is a Dash feature that makes it possible to maintain coin fungibility by swapping Dash coins among users so as to eliminate their traceable history. To do this, it breaks down your Dash into denominations and then mixes them up with other participants’ coins. This obscures the origin of the funds used in any given transaction so as to maintain privacy. It is better than coin mixing because each mixing round is handled by a different masternode thus blurring the history of transactions further.
Unlike on most traditional blockchains where users have to wait for block confirmations for a transaction to go through, Dash speeds thigns up using Masternodes. Its network of masternodes verifies that the funds in a given transaction have not been spend and this validates a transaction in 1-2 seconds.
A mnemonic seed is a set of words (12 or 24) which represents the sequence of a set of cryptographic keys (private keys) that control access to your funds. If you ever lose your phone or PC with your Dash coins inside, you can restore the wallet on any other device using this seed.