Category : Guide

Altcoins Cryptocurrency Guide

What is Dash? A Definitive Guide on Dash and Dash Wallet

What is dash?

The simplest explanation is that it is an altcoin. To understand altcoin, you need to know what cryptocurrency is. Cryptocurrency is an electronic cash/ asset transferred over a secured network to the receiver. If you have been reading our blog post you can skip this part, to those who didn’t, here is a link Bitcoin for Beginners and Dummies.

As stated earlier, a cryptocurrency is transferred over a secured network and this is what is known as Peer to Peer transfer. You must have come across the word Altcoin. What is Altcoin? This is the word used to mean alternative coin. It is used to refer to the other cryptocurrency coins that part them with Bitcoin. Bitcoin is the pioneer of online currency, others have come in to try and deliver unique talents that are set to target specific customers. This is in terms of transaction speeds, privacy, guaranteed return on investment, and automation. So far there are around 600 Altcoins in the market. The most recognized ones are Bitcoin, Ethereum, and Moreno.


So, what is Dash?

Enough with the lengthy introduction. What is Dash? Dash is an altcoin that is now becoming a global phenomenon. Since its introduction in 2014 by its developer Evans Duffield, this Altcoin has gained ground and is now becoming one of the fastest growing cryptocurrency. The reason for this relies on its simplicity and security. Its interface is friendly and easy to use, unlike most altcoins. In fact, they say it is so easy to use that your grandmother can use it. you can check their website if you don’t believe me.

Dash has some very interesting background. You see, it first started off as Xcoin before becoming dark coin and then finally being renamed as Dash coin. The reason for this is because of some mistakes committed by its creators that have now become some of its greatest strengths. The first mistake was that in the first two days, around 2 million coins were mined. This is what was then referred to as Instamine. Although riddled with problems, this altcoin has come out of the woods stronger and better than ever before. It has gained traction than any other in the market. It has been rated as one of the fasted growing altcoins in the market. We are going to look keenly exactly why is this.

Reasons for the rise of Dash

Dash has in the recent past grown to expand exponentially. Just like Bitcoin in 2013 and 2014, it has experienced price spikes that have made people millionaires overnight. the price of Dash has moved from an average of around $6 to over $50 at the time of writing this article. This is much higher than most altcoins in the market. In fact, it can only be rivaled by the second most popular altcoin, the Ethereum.

So what are the reasons for this spikes and interest in the coin? This is as a result of various combinations. Most logical ones will be the speculative activity of the traders, sponsors and its unique blend of applications. You see, Dash was in fact designed to resemble the Bitcoin. They use the same block chain and network. However, during the development, they saw it better to make the network as secure as possible. This has resulted in an all new and better version.

Dash Coin Growth – Partners

Also, the altcoin has gained partners that allow the users to pay with Dash coin other than the dollar. The most recent of these is Blockpay. This one deals with the construction business. It might seem less spectacular but construction is a driving force in the United States. Its profits run into the billions per year.
By partnering with Blockpay and the others, it has resulted in spreading of positive reviews of the network together with gaining new users.

Dash Coin Growth – Traders

The other reason we saw was as a result of the speculative nature of the altcoin traders. Before gaining coverage, this coin was trading at $1 or $2. As a result, speculators were gaining a tradition of shorting the stakes. Shorting means borrowing assets at a high price speculating a fall in the price. Speculators borrow when the asset is at a high price, sell it and waiting for a fall in price. When it falls in price, they buy it at the low price and return the asset to the lender. The profit is the difference between the high and the low minus the trading costs.

However, with the recent news of partners, the price started to increase and these speculators saw it best to sell in order to avoid further losses. This increase in selling volume attracted attention. And in any asset market, anything that sells attracts the attention of buyers which result in an increase in the price.

Also Read: How to Buy Bitcoins with Credit Card


Why is Dash gaining market attention?

Bitcoin took the world by surprise. The first decentralized cash in which the government had no control. This was received with both relief and criticism. This altcoin tried to make itself as decentralized as possible. However, it had its flaws which some of the people didn’t didn’t have complete anonymity. With the modern advances in Blockchain forensics, most Bitcoin transactions are not an anonymous as they used to be.

Enter the Dash Coin. This cryptocurrency has made some bad ass moves that are geared towards complete anonymity. Currently, this altcoin is one of the most secure networks in the world. The reason for this relies on three distinctive technologies that Dash uses above the other Bitcoin alternatives.

These are the following.


While Bitcoin majorly focuses on the decentralization aspects of the currency, Dash came to work on the security. Dash is built on the core code of Bitcoin but with major improvements. Its inventor saw it wise for the Altcoin to be anonymous so as to be a true cryptocurrency. The reason for this anonymity majorly focuses on the hiding of the transaction records as will be explained in Private Send. The reason for hiding the transaction record is simply to hide the identity of the owner as many can use this for manipulation.

The other reason I have come to understand is that of what most people call Fungibility. In economics, it means the property of a good or a commodity whose units are essentially interchangeable. In cryptocurrency, it would simply mean that the coins or Dash are of the same value. When there is anonymity, no one will be able to devalue the coin for whichever reason especially while purchasing in the Dark Web.

Private send

Sending your stash using the most common altcoins or even Bitcoin can be traced. This is what made Dash go beyond the market standards to come up with a private means. Private send is so far the best in the business. Using this, anyone trying to track you will eventually be limited and frustrated. One trick is when you send your stash, it is broken down into tens and ones which are sent to different miners who in turn send the amount to the right receiver. Another one is which they employ Coinjoin. This mixes different altcoins to the value of the Dash coins sent. However, it has a limit of 1000 Dash. Also, this process is optional to the user and tends to be a bit slower.

Instant send

Initially, it was known as InstantX. This was however rebranded in 2016 to be called Instant Send. This feature allows you to send the Dash almost instantaneously, for 1.5 seconds to be accurate. Bitcoin does the transaction for 10 minutes. However, the is a small fee to be charged when using masternodes.


From the above mentioned Instant Send, you came across masternodes. I bet your first question was why are masternodes charged Higher than usual? You see, unlike Bitcoin where each coin/note is equal, for Dash altcoin, there is a special note, the Masternode. You can hold this for 1000 Dash which acts as a collateral. Masternodes are designed to fulfill a specific function and for Dash, it is for use in private send and Instant Send. Also, it earns a block reward of about 45%. Apart from the collateral, these masternodes do not cost money or effort as they are designed for a specific purpose.

Many altcoins have followed suit and adopted Dash use of masternodes in their networks. There are over 15 altcoins that have adopted this trend. This is because the masternodes act as a means of generating passive income. The common users are Crown, Block, BItsend, Neutron, Pivx, and Renos.

Dash is planning to expand its market share by not only aggressive marketing and but also developing new products. so far this seems to work at least with the introduction of private send and Instant Send. They also have the following products.


Dash has come up with a new interface they call Evolution. This they say is for easing up operation for the less technical users. Using evolution, the holder can connect to merchants to make purchases without the technical coding and script writing. Also, people will be able to rate the merchants for future customers to distinguish the good from the bad. This is because they have integrated these merchants with Dash on the Blockchain and there is the need to keep a positive review. Late this year, the Dash altcoin developers want to release the alpha version of Dash Evolution.

Dash Debit Cards

From polls that have been conducted, many people would prefer to use debit cards for daily use. Also, the hindrance of the cryptocurrency adoption to the mainstream market is seen to be the as a result of not being used in the in credit and debit cards. That’s the end of the bad news. Some companies have come forward and offered Dash Acceptable Debit cards that use the most widely recognized trademarks, Visa and MasterCard. These seem to be rising in use since they make fewer cuts and also because the conversion fees to fiat money are usually much lower for travelers who visit different countries.


Dash, unlike the Bitcoin, has self-governance. You see, Bitcoin is funded by parties that might be having self- interests which would go contrary to the main objectives, a good example is any major company where a bunch of millionaires hold the voting rights. In Dash, however, it governs itself. They do this using Dash coins as rewards. By mining new coins, 45% go into the Masternodes (people who have invested 1000 Dash coins), another 45% to the miners and the 10% to the Treasury. By doing this, everybody’s interests are in line with the company’s objectives.

Also, Dash has the program in which they get new ideas from the public. Anyone with an idea of how to improve the cryptocurrency can submit their ideas to the Dash committee who will, in turn, implement them. So far they have been able to implement the idea of opening a You Tube channel that gives you Briefings about the altcoin on a weekly basis. To submit your idea, visit a Dash forum on the website.

Mining Dash

Dash altcoin being new in the industry is relatively easier to mine. This is so because it has an estimated fixed point of 18 million coins while only 7 million have been mined. To get started, you need to know a few basics. First is that Dash mining, unlike Bitcoin, is easier for individuals than for the companies to mine. How is this so especially because Dash uses the Bitcoin core program? Dash uses x11 algorithm which is easier to mine using GPU than CPU. That is, if you have a gaming rig at home, you are in luck. What you need is a wallet and a mining software to get started.

This coupled with the fact that manufacturers haven’t made an x11 hardware to mine Dash makes it relatively profitable. So far from what I have learnt is that this works well while using windows operating system. Also, Dash pays you a basic rate if you are a miner daily. The only thing you need to worry about is the mining software sgminer.exe. when downloaded from dubious sources, it can contain malware which isn’t the best thing you want for your computer.

How to earn Dash online?

Mining is power and labor intensive work. How do else can you make Dash coins? There is a range of answers to choose from but we will concentrate on the proven methods here. If you have a reliable internet connection, you can make free Dash. This you can do by purchasing online wallets and engaging in their affiliate programs. Most of these offer at least 10% of the referral. The other way to earn passive income is by having a Masternode. This, however, requires an investment of about 1000 Dash. The return on this is 45% of the new coins mined which to me seems like a good deal. There is also a less know method that requires little investment of about $50.


Purchasing and running a Raspberry Pi. This is a skeleton of a computer that houses a Dash Masternode. The return on investment for this is estimated to be 17% per year. You only need to set it up and connect it to the internet. for power consumption, it can run on the power you use to charge a phone.


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Coinbase Review – Controversy and Is Coinbase Safe?


In this post today, you will get everything you need to know about Coinbase. If you have been wandering in the new interesting world of cryptocurrency, you must have come about Coinbase. This is a company dedicated to but not limited to cryptocurrency.

I will start off by generally describing what it is before doing a Coinbase review. This is a limited company that focuses mainly on the digital asset ventures especially the cryptocurrencies. Coinbase majorly focuses on Bitcoin and its products but has in the recent years started incorporating the other altcoins such as Ethereum and Litecoin. Coinbase acts as a digital broker in the simplest explanation of its services. This company is also backed by the New York Stocks Exchange.

coinbase-reviewCoinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam who saw a middleman opportunity after Bitcoin started gaining market since its introduction in 2009. Coinbase first started off by buying and selling Bitcoins through Bank Transfers. It then extended its services to include the vault system for the Bitcoins. Over the years, it has grown in its users to about 7 million at the time of writing this article.

Coinbase has been the place to go especially if you are looking to purchase your first Bitcoin. This is because the company has invested heavily in making better algorithms and designing user-friendly interface that takes care of the extensive technicalities in owning any cryptocurrency. Also, they have partnered with many banks and offer payment services to over 32 countries worldwide.

What you need to know about Coinbase?

As was stated above, Coinbase has partnered with many banks around the world so as to enable the purchasing and selling of Bitcoins in the local currency. Also, people have many payment options ranging from EFT, SWIFT SEPA, and Ach. Also, they have introduced PayPal and Debit and Credit cards. Of course, these are Visa and MasterCard supported.

Coinbase mainly focuses on the purchases and sales of Bitcoins. However, it also performs an auxiliary function of storage. That is, they have wallets that you can rent out like a ware house to store your Bitcoin stash. You also store Ethereum and Litecoin. Your stash is safely kept and is guaranteed as they have purchases an insurance cover for their storage vaults.

How Coinbase works?

The most important thing to know is that Coinbase has a strong backing from the major financial industry movers including The New York Stocks Exchange. This means that the virtual currency business is fast becoming a major profitable activity in the financial industry. The business is licensed by the New York State Department of Financial Services to continue its operations. That plus the major banks that have invested more than the US $100 million into the company should be telling you that they have something here.

Coinbase operates more like a bank than a broker. This is so as the company was the first to receive the virtual currency operation license. This is also because of major integration with the major Banks it is operating with has resulted in the adoption of most Banking laws. For this reason, Coinbase requires one to fill out an extensive personal information and monitor the accounts to prevent money laundering. This should not water down your spirit as their services are secure and guaranteed which is hard to come by in virtual currency.


Is Coinbase safe?

Before venturing into Coinbase, you need to understand its inner working. Is Coinbase safe? This is the first question most people ask me. The answer is yes. Coinbase is very safe. As was mentioned in the above post, the company has invested heavily in insuring their vaults to minimize their losses. Also is the fact that the company is integrated with the major banking industries that also protect their investments.

Having received funds to the tune of US $ 75 million and above over the years since its conception, Coinbase goes, without doubt, one of the most secure virtual currency brokers in the world. This is also factoring in the investment they have received from the Japanese banks and securities exchange. As a rule of thumb, the most secure trader is often the most financed one in the market, and Coinbase is one.

How safe is Coinbase? Very safe. It has been received well in over 30 countries excluding China where it can operate freely without many hiccups. As was stated earlier and this should be in your head by now, Coinbase follows almost similar protocols with the banking industry. For this reason, any operation is well monitored to eliminate the possibilities of losses. This is also the reason why the company has been able to secure credits cards with ease.

Also, the company website has a user-friendly user interface that reduces the chances of making any errors while trading. I repeat again, this is the best place to go especially for the newcomers. The transfer fees are negligible and one can exchange Bitcoins to 159 different fiat currencies. The number of countries in the world. As you see, Coinbase is very safe.

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What is the Darknet? A beginner’s guide to Darknet


The Darknet – a deep mysterious hidden internet where you can buy and sell all kinds of illegal goods anonymously and with Bitcoin. At least that’s what most people think of it as. While the Darknet does indeed serve a clandestine marketplace for illicit products, it’s so much more than that.

In this article, we go through the basics of the Darknet; – what it is, why it was created, and what it’s used for now. Keep reading this practical guide to the Darknet and find out how you can access the Darknet in minutes.


A “dark net” is a general term for any network that is not the “surface web” or “clear net”. All websites are incognito, non-search engine indexible, and can only be accessed with a specific setup and using non-standard communications protocols and ports. And it isn’t just used for illegal activity – a lot of the Darknet are forums, blogs, essays, etc. Anyone who wants their information to be private and non-accessible to the majority of the public can place it on the Darknet with the right tools.

Terminology: Ever heard of the Dark Web or the Deep Web? Since 2015, these terms have been synonymous with Darknet. While some say there should be a distinction, most people will use them interchangeably.


The TOR (The Onion Router) network is perhaps the most popular privacy network that is a part of the Darknet. TOR software is free, and enables anonymous communication through an onion routing protocol, much like HTTP works on the internet. It was originally developed by the government to be used for internal anonymous communications, until it went public and became part of the Darknet.

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Top 5 Bitcoin Investment Sites – Invest Bitcoins for 20% ROI

As bitcoins have become more popular and the market volatility has dropped, the profit you can make from simply buying and holding bitcoins has dropped significantly.

Luckily, there is another way to make money with bitcoin: Peer to peer lending. Since this method is less traditional than many other methods, you can generate great returns on your investment with just a bit of research and smart decision making.

Keep reading to find out how you can achieve a 20% ROI each year on your bitcoin investment.


Disclaimer: With great reward comes great risk. Do your research and understand what you’re doing before you go out and invest all of your savings in bitcoin. Making smart decisions with your money is the safest and best way to guarantee a great investing experience and profit.

Bitcoin Investment – Best Practices

Before we go into the top 5 bitcoin investment sites, let’s cover how you can safely and securely invest your money. Since most bitcoin loans offer a high interest rate, it’s more important to verify the credibility of the person you’re loaning to rather than looking solely at the interest rate.

After setting up an account, there are several elements you should look for before choosing someone to loan your bitcoins to:

  • Solid credentials
  • Member of the site for a sufficient period of time
  • Reputation and no negative reviews
  • Specific borrower interactions

Now that you’ve confirmed the reliability and credibility of the borrower, you can finally look into the interest rate of the investment. A few tips for lending money:

  • Find loans that are almost 100% funded. These are likely more reliable.
  • Look for people that have already repaid some earlier loans.
  • Look for projects with very specific descriptions.


Now that you know how to identify a reliable person to loan money to; what kind of loans you should look out for.

Here are the top 5 investment sites for investing your bitcoins:

*Note: We didn’t include the most popular site BTCJam because they’re shutting down lending on their site.

Site 1:

BTCPop is the first site we cover that allows you to lend to your peers using cryptocurrency technology. Their lending site is based solely on reputation; not credit score, which has its own benefits and drawbacks. Follow the steps outlined above and you can minimize the risk of loaning out your money on this site.

BTCPop also allows you to exchange your money into different cryptocurrencies, move your money into large pools, and invest in startups that are using the site.

Site 2:

BitLendingClub is another bitcoin lending site that has over 2073 borrowers, 9963 loans funded totaling over $7,963,687, and over 4718 active investors. In a few simple steps, you can sign up, get verified, and submit a loan request. Or, you can help fund an active loan on the site.

Site 3:

BitBond is the third bitcoin lending site that we suggest taking a look at. They offer profitable interest rates for individual investors, as well as loans for small businesses. BitBond successfully leverages bitcoin as a technology and payment network to create the first global market for small business loans or fixed income loans. With digital currency, BitBond makes loaning out to small business quicker and easier because they can bypass the slowness and expense of traditional payment transactions.

Site 4:

Tether is a more recently created company that is built upon open blockchain technologies. It’s 100% backed, offers widespread integration, and is transparent and secure with all of its transactions.

Tether offers solutions for blockchain companies, exchanges, and the individual trader; making it a very versatile solution for any number of exchanges. It also allows you to make transactions with several different cryptocurrencies, so you’re not limited to bitcoin.

Site 5:

Last but not least is CoinStaker. They offer a nice overview of how P2P bitcoin lending can work, and allow you to also gamble, trade, monitor, and buy your bitcoins.

If you choose P2P bitcoin lending as a way to earn more bitcoin, do some thorough research on each of these sites before making a final decision. Peer to peer lending can be a great way to earn interest on your bitcoin, if you play it safe and make educated decisions about who you lend to. Be safe and enjoy lending.

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Creating A Bitcoin Wallet Backup – Bitcoin for Beginners

A wаllеt backup рrоtесtѕ уоur bitcoins аgаinѕt computer or ѕоftwаrе fаilurе. It mау also hеlр уоu rеtriеvе уоur funds аftеr уоur dеviсе wаѕ ѕtоlеn or lоѕt. There are different wауѕ tо backup a Bitсоin wаllеt. Diffеrеnt ѕоftwаrе ѕuрроrtѕ diffеrеnt mеthоdѕ. Make ѕurе уоu’rе familiar with уоur wаllеt bеfоrе lоаding it with bitсоinѕ. If you lоѕе thе bасkuр аnd саn’t ассеѕѕ your wallet for some reasons, уоur bitcoins аrе реrmаnеntlу gone!

Whеn уоu first сrеаtе a bitcoin wallet bасkuр оf уоur wаllеt, the backup соntаinѕ аll thе ‘old’ kеуѕ uѕеd in transactions in аdditiоn tо thе kеуѕ thаt hаvе not bееn uѕеd (100 bу dеfаult). Whеn you реrfоrm a trаnѕасtiоn, уоu thеn have only 99 keys lеft in уоur backup. The nеwlу generated kеу (сrеаtеd аѕ a result оf the trаnѕасtiоn) that rерlасеѕ the kеу uѕеd in thе transaction iѕ nоt inсludеd in thе backup. Thiѕ means that оnсе you hаvе сrеаtеd your wаllеt bасkuр, thе newly gеnеrаtеd keys (generated frоm transactions) аrе only ѕtоrеd in your wallet аnd nоt in thе wаllеt backup. If уоu restore frоm уоur backup AFTER conducting a trаnѕасtiоn, you will lose Bitсоinѕ (frоm thе nеwlу gеnеrаtеd kеуѕ), аnd thеу аrе lоѕt fоrеvеr.


Sаving your Bitcoin wallet bасkuр tо a flаѕh drivе

Sаvе your exported bасkuр оntо a flash drive аnd kеер it in a ѕесurе place. Sоmе wаllеtѕ will аllоw you tо password рrоtесt уоur backup ѕо thаt if someone gets a hоld оf thе filе, hе wоn’t bе аblе tо uѕе it.

Nоw if fоr ѕоmе reason уоu еnd up losing уоur Bitсоin wallet – fоr example, ѕоmеоnе steals уоur mоbilе device. Yоu саn just open a nеw client, import this bасkuр аnd mоvе thе Bitсоinѕ оut оf thаt wаllеt tо a nеw wаllеt. even hаѕ a соnvеniеnt орtiоn of аutоmаtiсаllу sending you backups to уоur Drорbоx or Gооglе drivе which уоu mау want tо соnѕidеr.

Rеmеmbеr, all thе bitcoin wallet backup iѕ, a liѕt оf уоur private keys. Whoever has уоur private kеу оwnѕ your Bitсоinѕ.

Backing up just your wаllеt filе

Fоllоw these inѕtruсtiоnѕ to backup just the wаllеt.dаt filе. Thiѕ results in a smaller diѕk image, but it’ѕ mоrе соmрliсаtеd tо dо.

  • Oреn Diѕk Utility
  • Cliсk Nеw Imаgе аnd сhооѕе a big еnоugh ѕizе; 128-bit оr 256-bit (fаѕtеr оr mоrе ѕесurе) еnсrурtiоn аnd a ѕinglе partition.
  • Save it ѕоmеwhеrе уоu wоn’t lоѕе it (likе уоur Wuаlа, Drорbоx, Strоngѕрасе or whаtеvеr)
  • Choose a safe аnd ѕtrоng раѕѕwоrd
  • Mоvе your wаllеt.dаt filе to the image
  • Sуmlink it back ѕо the арр would be аblе tо uѕе it

Restoring уоur wаllеt file

Assuming your bасkuр iѕ rесеnt еnоugh thаt you hаvеn’t uѕеd uр аll оf уоur kеу рооl… restoring a wаllеt tо a new (оr оld) location and rescanning the blосk chain ѕhоuld lеаvе уоu with all уоur coins. Juѕt fоllоw these ѕtерѕ:

  • Shut dоwn the Bitcoin program.
  • Copy уоur backed-up wallet.dat into уоur bitcoin dаtа directory.

If уоu are copying in a bасkеd-uр wаllеt.dаt thаt wаѕ lаѕt uѕеd оn a Bitсоin vеrѕiоn before 0.3.21 into an existing profile, dеlеtе files blk*.dаt tо mаkе the сliеnt rе-dоwnlоаd thе blосk сhаin. You mау also nееd tо dо this if your trаnѕасtiоnѕ dоn’t аll ѕhоw uр аftеr уоu rеѕtаrt Bitсоin.

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