Did you know that keeping your Dash on cryptocurrency exchange platforms is risky? Why ? Because these platforms can be attacked or closed. In the event of an attack, you can have your cryptocurrency stolen. Hence the importance of sheltering it in what is called a “Dash wallet”!
Understanding the different Dash portfolios
The priority when you buy dashboards, or cryptocurrencies in general, is to make sure they are securely stored. Freedom, autonomy and independence are fundamental principles of the functioning of cryptocurrencies. In return, the user has full responsibility for what he does with it. Leaving your virtual currency on an exchange platform can be risky.
Hence the appearance and development of wallets, which are specialized storage methods for your cryptocurrencies. There are many types with their own features, and not all of them have the same security guarantees.
First, there are the cold wallets, which are considered the most secure. Why ? Because these Dash wallets are not connected to the Internet, which rules out hacker attacks and phishing attempts. They generally come in physical form (USB key, paper support, etc.).
The hot wallets, which are more vulnerable, fall into several groups: office portfolios (software), online portfolios (specialized sites) and mobile portfolios (applications on smartphones). Although there are more risks in using them than cold wallets, they are still very popular with internet users who want to trade a lot.
The best dash wallets
Between security, practicality, ergonomics: here are our top 3 Dash wallets that we recommend to you at the time of writing this article!
Ledger Nano X
The Ledger Nano X is an essential hardware wallet that works with a connection Bluetooth and which allows you to manage virtual currencies on all smartphones from the Ledger Live application. This version has more memory capacity than the Nano S, its predecessor, because we go from 5 simultaneous applications to a hundred!
These applications represent the various cryptocurrencies, including Dash. Side intuitiveness and ergonomics, buying, selling and trading Dash is easy, even for beginners. Finally, at the level of security, the Ledger Nano X has nothing to envy to other wallets. First of all because your cryptocurrencies are stored outside the Internet since it is a hardware wallet. In addition, in addition to the classic password, other security measures can be added (fingerprint or facial recognition).
The Dash wallet Exodus is an office wallet (software wallet) which can support a very large number of cryptocurrencies. Simple to install, the Dash holder only has to be guided by the instructions, then, once the configuration is complete, indicate his password which will be used to protect his wallet.
In addition, Exodus allows the exchange of cryptocurrencies via the exchange platform ShapeShift. This wallet is known to be perfectly suited to beginners, since its interface is projected in a very easily readable graphic format, with the possibility of personalizing it according to its use.
The Dash Core
The house Dash wallet is called Dash core (or QT wallet). It has many features such as:
- PrivateSend, which is a form of transaction that increases user anonymity;
- InstantSend, which allows transactions to be made quickly;
- The costing of the portfolio;
- Control of parts and costs;
- Generation of QR code and address book;
- Masternode orders, which are servers on the blockchain network and which participate in the development of the project;
- Automated backup.
Choosing a Dash wallet is done according to your needs. Depending on what you do with your dashs, you can favor a type of wallet. For example, if you trade often, you will prefer to use a software wallet that is connected to the Internet. On the other hand, if your goal is mainly to speculate, placing your dashboards securely in a hardware wallet will then be the best option. And if you want to learn more about how this famous cryptocurrency works and better still, get passive income from it, take a look at our presentation of “Dash, Bitcoin of Masternodes”.