Originally a fork of Bitcoin, Dash cryptocurrency came on the market to be a simpler solution for crypto mass adoption. Dash crypto coin was introduced in 2014 by Evan Duffield and immediately found the love of the digital community. So here another important question arises: where do users can store Dash coin safe? We’ve made a list of the most functional and secure wallets to keep Dash in 2020.
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Dash Cryptocurrency, Briefly
Dash is a cryptocurrency with a high level of security and anonymity. Initially, the coin was not planned as an autonomous unit. It was an alternative to Bitcoin or rather a better version of it in terms of security. It is decentralized, which means there is no regulatory element. The idea of Dash is the equality of all users and the elimination of expensive mining equipment.
According to Evan Duffield, Dash creator, this is not just a cryptocurrency, but a full-fledged payment system that can be used worldwide. Money transfers are instant, absolutely safe, and anonymous.
Dash cryptocurrency has gained the status of a payment system at the international level. A distinctive feature is the order of management system development. Dash cryptocurrency algorithm is based on Darksend technology that increase the anonymity of users and makes it impossible to fetch the data about users and their operations.
We’ve made a list of the Dash advantages for you to consider:
- Stable development. During several years of its existence, a significant improvement of the platform was demonstrated. All the time, Dash remained in high positions in terms of capitalization.
- Strong creators team. Dash is being developed by highly experienced and crypto-savvy people, which raises the trust of the asset.
- Customers’ votes matter. Customers participate in the development of the currency. They can make decisions regarding new technologies, upgrades, and strategic solutions.
- Full anonymity. The transaction details are not disclosed to third parties.
- High transaction speed. In this regard, Dash significantly outperforms Bitcoin. The transaction execution is almost instantaneous, while the network does not experience a large load.
- Mining income. Clients who mine Dash currency on equipment have the opportunity to receive generous bonuses from the platform. It’s not obligatory to use expensive mining hardware.
By the way, we’ve already discussed the future of Dash cryptocurrency in our latest Dash price prediction.
10 Best Dash Coin Wallets
There is a wide range of Dash wallets available. You can choose by the desirable platform and security characteristics.
Dash Core Wallet
The most common Dash wallet is the Dash Core that the user can install on a computer. This is a software product that was proposed by the developers of the project. Its main advantage is a high degree of data security. The wallet is local: it must be downloaded and installed on your computer. The program supports common operating systems – Windows, Linux, osX.
Before opening the wallet, the user needs to download the entire blockchain of this crypto asset. It means the computer will store data about all transactions in the system. Installation will take several hours. If data security is important to you, you have to deal with this issue.
Exodus is a trendy multi-currency wallet. It has been operating since 2016.
The installation and operation of Exodus is much easier than the official wallet since there is no need to download the entire blockchain. The interface is designed to make navigation intuitive for both beginners and experienced users. A distinctive feature of Exodus is its speed: transactions are performed instantly.
As for security, it’s on the top level: there have not been hacks in recent years. The software is being updated about 3 times a month. However, users don’t have to bother about installation – it’s automated.
When it comes to downsides, we should admit a high commission for payments and conversion – this is what guarantees high speed of operation. The system itself calculates the size of the commission so that the payment is processed in the first nearest block. Therefore, in busy periods, the commission may be quite high.
Being a pretty popular Dash coin wallet, this solution was developed by the Canadian company Decentral and one of Ethereum co-founders. This project was originally planned as a multi-currency wallet, so Jaxx supports several coins (60+).
There is cross-platform support, so you can find Jaxx versions for Windows (32 and 64bit), OSX, Linux, Android, and iOS. In addition, there is a plug-in for Google Chrome.
To increase the level of security, you can set a PIN code. You will have to enter it every time you open the wallet and every time you view secret data. To restore the wallet, a special mnemonic phrase is used: it includes 12 words and is generated when creating an account. There is also a backup option that works on the same principle as in other repositories.
Jaxx features clean and comprehensive interface: all main functions are available at your fingertips, but additional ones should be found in tabs. The program code is open – you can find it on Github.
Previously called Airbitz Wallet, Edge is available for both Android and iOS. Name rebranding is not the only change: today, the wallet supports absolutely any coin built according to the ERC-20 standard, even if it’s not included in the official list of supported ones.
Main advantages of this Dash coin wallet are the following:
- high level of decentralization and storage security;
- data encryption and offline operation;
- two-factor authentication;
- payments via Bluetooth.
As for the disadvantages of the Edge Wallet, they are almost non-existent. Users need to use a complex and long password, but this is necessary to ensure the proper level of security.
The main feature of this mobile tool for storing digital money is a wide range of available cryptocurrencies: it supports more than 80 different coins.
When installing and creating a wallet for Dash, you should generate a safe recovery phrase. It must be written down and stored somewhere because, in case of losing a password, this is the only way to gain access to your funds. In general, it is a very reliable tool for storing small amounts.
This wallet is one of the very first cryptocurrency storage options. It has been functioning since 2011 and was originally created only for Bitcoin. Today, it is possible to store several types of coins in it, however, at the same time, Electrum is not a multi-currency wallet. For each token, there is a separate version. The official options are available Bitcoin, Dash, and Vertcoin, all the rest are unofficial, developed by third-party sources using open source code.
Dash Electrum can be installed on all major computer platforms (Windows, OSX, Linux). For Windows, only the 64bit version is supported. Electrum BTC also works with Android, while Dash hasn’t got a mobile option yet.
As for the functionality of this wallet, among the main features we can distinguish such technologies as Change Adress, Pay to Many and the ability to manually set the size of the commission.
The two most popular hardware wallets include Ledger Nano and Trezor, both support a large number of cryptocurrencies.
Ledger Nano S
This device supports Windows, OSX and Linux. To run it, you will need a Google Chrome browser and a USB connection to a computer. Ledger is only PC-compatible: there are no mobile applications for Android and iOS, and you cannot connect it to smarthphones. The device comes with its Ledger Manager software which allows you to install the programs you need.
This is a multi-currency wallet, so you can store other cryptocurrencies on it. This is an HD wallet that generates a new address for each transaction which ensures confidentiality. Old wallet addresses remain valid if you still use them.
Trezor Wallet is also a multi-currency hardware wallet that supports DASH and 100+ other cryptocurrencies. Trezor is proud to be the original Bitcoin hardware wallet on the market. It supports Android mobile devices. Similarly to Ledger hardware wallet, the Chrome extension is used to interact with the device.
This minimalistic wallet supports DASH for storage but does not allow using InstantSend and PrivateSend DASH functions (developers plan to fix this in the future).
DASH Paper Wallet
If you cannot afford a hardware wallet, but you stand for maximum security, the best option is a paper wallet. Even a mobile wallet has a certain form of risk since private keys are still stored on the device. DASH Paper Wallet, of course, does not have any of the advanced DASH features: InstantSend or PrivateSend. You can create storage by using the Dash paper wallet generator online.
When you deal with cryptocurrency, it’s crucial to ensure the safety of assets. The range of Dash wallet is big – this is what you should always start with. The above-mentioned wallets boast a high level of security, comprehensive interfaces, and the whole gamut of interesting functions.