Coinbase today announced the latest addition to its cryptocurrency lineup, Dash (DASH). The cryptocurrency, active since 2014, is now available to buy, sell, convert, send, receive, or store on the popular US-based exchange.
Coinbase mentions what’s unique about the coin in their blog post, highlighting its off-chain community governance and its “Masternode“-powered network architecture.
Dash’s differentiating optional speed and privacy features, Coinbase says, won’t be supported for now:
Created in 2014, Dash is a cryptocurrency optimized for payments that has optional speed and privacy features. At this time, Coinbase will not support these features. Dash is accepted at over 4,000 merchants worldwide. Its unique network architecture consists of both regular miners and privileged machines called Masternodes. Through its off-chain community governance system, anyone can submit and vote on proposals to improve the ecosystem’s functionality, utility, and adoption.
Dash primarily puts its focus on digital payments — it hopes to be faster to settle transactions than its far-more-established cousin, Bitcoin. You could think of it as somewhat similar to Litecoin, which is the age-old altcoin offshoot of Bitcoin with lower fees and speedier transactions.
As Yahoo Finance notes, it’s actually fairly well-adopted, at least compared to most of the thousands of practically worthless crypto assets:
And it turns out people actually use the thing: Dash’s volume hit over $350 million in the past 24 hours, and thousands of merchants across the world accept it, including Overstock.com. It’s also recently signed deals with a bunch of ATM operators, who operate around 1,000 Dash-friendly ATMs worldwide.
“Dash’s listing on Coinbase represents a significant expansion in access for users, as tens of millions of people have accounts with the exchange,” Ryan Taylor, CEO of Dash Core Group, told Decrypt in an interview this week.
Coinbase says the coin is available for trading everywhere that Coinbase operates, save for New York State and the United Kingdom. You can sign up for a Coinbase account here to start buying, selling, and trading Dash right now.