I am new to digital currencies.

Why is Dash Personally Important To Me And Why Should I Learn about It Now?

Decentralized digital currencies, or crypto-currencies, represent a new kind of money that provides users with a number of substantial benefits over traditional types of money. These currencies have only been in existence for a short time, but are already reshaping the financial services industry in profound ways and enabling users with entirely new ways of storing and using money.

You probably know Bitcoin, the first digital currency. Dash is similar to Bitcoin, but with a number of added benefits and capabilities. Dash is digital cash. More importantly, you’ll see that Dash is a technology leader in the digital currency space, with a rapid pace of deploying new innovations. The Dash developers have delivered a number of “firsts”, such as the first privacy-centric transaction system, the first to enable nearly instant payments, the first to enable user governance, the first to create a sustainable self-funding model, and many others. But, before we discuss the benefits that differentiate Dash in detail, it’s important to understand the benefits of digital currencies in general. There are numerous reasons to consider incorporating digital currencies and Dash in particular into your financial life.

 

Digital Currency vs. Traditional Money
For starters, digital currencies provide a practical means to easily and securely store wealth and conduct transactions without relying on third-party entities such as banks to do it for you. Historically, people had little choice except to depend on the services of others to store and preserve their wealth. Today, this typically means keeping a balance in a bank account and spend from there, but this also carries risk as anyone familiar with with the numerous banking crises around the world can attest. There are, of course, many other methods of storing wealth, such as investments in stocks, bonds, real estate, and commodities. However, unlike cash, these assets are not readily accessible to everyone, their value cannot be conveniently accessed for conducting transactions with others, and the values are not divisible (you can’t buy a fraction of a bond). At the end of the day, everyone must store a portion of their wealth as cash simply to facilitate the transactions of everyday living.
Do You Really Need a Bank?
How did we start using banks and why do we need them? The simplest answer is that it was just impractical to store your money and keep it safe on your own. First, with gold and silver coins and then with paper money, for the average person storing money in their house under the mattress has always been risky. Today, more and more of our transactions are conducted digitally, even in physical stores with credit and debit cards. Most people get paid and pay others with digital transfers of money while physical cash is becoming less prevalent.

We should stop to think what we are sacrificing when we give control of our money away to banks. We mainly sacrifice control and independence – they have many restrictions as to when and how we can use our money. We are trusting that financial institutions will act in our best interest. They will also of course charge us many fees to use our funds. In fact, in many locations in the world right now, consumers can expect to receive a negative effective return on their deposits when these fees are taken into account.

Banks are often not being transparent about their financial condition and operate using something that is called fractional reserve. Fractional reserve means that banks are not really holding all the cash that backs their customer’s deposits so that if everyone would want to withdraw their money at the same time there just would not be enough money for everyone. It is basically a musical chairs game where there are not enough seats for everyone.

There are many advantages to the fractional reserve system. It enables banks to lend deposits to other people, which increases the availability of loans. But from your perspective, as a depositor, it leaves you in a weak position should there ever be an issue with the bank, or if they implement capital controls in your territory which prevent you from accessing your money. These things happen often around the world and most people are unconcerned until it happens to them (take Cyprus or Greece as the latest prominent examples).

How Can You Protect Your Wealth?
Is there a solution? How can you protect your wealth, particularly the portion of your wealth that you need in cash? We think digital currency is the answer. Digital currency represents a new and better alternative to allow people to store, save and spend money safely without the need to give away control and without having to store physical cash. You can safely store any quantity of Dash, spend it directly for goods and services or exchange it for Dollars, Euros, Yuans, Rubbles or any other currency as the need arises.

Digital currency’s popularity is growing rapidly and it will open many opportunities in the future, but it will still take time for the whole world to make a transition and for Dash to become more widespread. We invite you to evaluate the benefits of Dash for yourself and we hope that Dash has a place in your portfolio of assets and financial products. You will have some funds that are 100% under your control that could come in handy if you ever have limited access to your financial institution.

Another benefit is that as an early adopter of this new technology you have good chances of seeing the value of your Dash grow should it become more popular. Dash is less than two years old, but is already the third most valuable crypto-currency and has a strong and growing community of backers. Further, it makes sense to think that in the future consumers will desire access to digital cash and will keep a portion of their wealth under their control. Digital assets like Dash are a new option in the menu but a very important one for the average person as it gives them back control of their money.

Digital currencies also represent a new area of opportunity for people and businesses all over the world. It greatly facilitates international trade as a digital currency can be sent immediately, anywhere in the world with almost no fees, and easily transferred to a local currency. Furthermore, they are already understood and used by many people around the world, so there is not really a need to exchange for different currencies the moment you transact. Moreover, Dash allows for instant transaction confirmations which mean a money transfer can be sent and fully secured in a matter of seconds.

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