Where to store your DASH cryptocurrency? Let’s review the most popular and functional Dash wallets 2020: desktop, mobile, and hardware solutions.
Dash Crypto Explained
Dash is a currency 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, there is no regulatory element. The idea of Dash is the equality of all users and elimination of expensive mining equipment.
Dash coin does not have a centralized management system – the emission is issued by miners. According to Evan Duffield, Dash creator, this is not just a cryptocurrency, but a full-fledged payment system that can be used around the world. Money transfers are instant, absolutely safe and anonymous.
Dash cryptocurrency has gained the status of a payment system of international level. It is based on Bitcoin technology with significant improvements in anonymity and speed of operations. 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.
The advantages of Dash include:
- 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 to the asset.
- Customers’ votes matter. Customers participate in 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 currency on equipment have the opportunity to receive great bonuses from the platform. It’s not obligatory to use expensive mining hardware.
10 Best Dash Coin Wallets
1. Dash Core Wallet
The most common Dash wallet is the Dash Core that’s installed 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. Several interface languages are offered.
The only drawback here is that before the wallet can be opened, 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 very popular multicurrency wallet. It has been operating since 2016 and currently supports 30 cryptocurrencies, including Dash. The main feature of this option is its integration with the ShapeShift platform.
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 starters 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 done automatically.
When it comes to downsides, we should admit a high commission for payments and conversion – all in all, 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-found ers. This project was originally planned as a multi-currency wallet, so Jaxx has supports several coins (60+).
There is cross-platform support, 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. ShapeShift, a large exchange service, is integrated into this wallet.
Security of stored funds is ensured by the fact that the keys are not stored on the platform servers – they are saved directly on the user’s PC in program files. 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 application 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:
- the option to import gift cards;
- high level of decentralization and storage security;
- data encryption and offline operation;
- two-factor authentication;
- payments via Bluetooth.
As for the disadvantages of 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 the large number of available cryptocurrencies: it supports almost 80 different coins. Previously, this advantage was overlapped by the lack of iOS support, but developers fixed that.
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.
7.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).
10.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 Dash paper wallet generator online.
When you deal with cryptocurrency, it’s crucial to ensure the safety of assets. Choice of Dash wallet is imperative – 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.