9 Best Wallets to Store Dash Coins in 2024
Store your DASH coins safely – check our list of the best DASH wallets out there ?
While Bitcoin has always been the most expensive cryptocurrency, there are many other coins that deserve the attention of investors. Among them, Dash takes a special place.
What Is Dash?
Dash was launched in 2014. Initially, it was known under the name Xcoin. Later, it was rebranded to Darkcoin. Finally, in March 2015, it became Dash.
The coin runs on Satoshi Nakamoto’s network. Its core features are the same as the ones of Bitcoin. However, Dash has introduced some improved functionalities that increased the coin’s value and made it attractive to investors.
The main difference from Bitcoin is in the way new coins are mined. While Bitcoin uses the good old Proof-of-Work algorithm, Dash applies the X11 algorithm for mining. It is a modification of a newer Proof-of-Stake algorithm. Conjoin mixing is used to scramble transactions thus enabling privacy on the blockchain.
The Dash network uses the system of masternodes to validate transactions. A masternode has a minimum of staked coins in the system (1,000 DASH). Staking allows users to pay for the service and earn a return on their investment.
Dash has also introduced a new network governance model. The Dash network introduced the first of its kind self-funding model. The rewards for block confirmation are divided among three stakeholders - masternodes, treasury, and miners. Treasury gets 10% of the rewards and uses it for the further development of the project. The rest is divided into two equal parts between masternodes and miners.
Dash aims to become a cryptocurrency for everyday use. The transactions in the network are fast, the fees almost don’t exist, and the cryptocurrency is accessible to anybody.
What Is a Dash Wallet?
If you want to try to invest in Dash or trade the coin, you need to have a reliable wallet to store it. A cryptocurrency wallet is a place (online or offline) where you store your private keys. Private keys serve as proof that a specific coin belongs to you, while the coin is stored on the blockchain.
To store your funds safely, you need to choose a reliable wallet. If you are going to keep the coins, a cold wallet is the most convenient option. It stores your funds offline, so it cannot be hacked. If you use a cold wallet, you also have a seed phrase and private keys to your coins.
A hot wallet is a wallet that stores your coins online. Usually, hot wallets are offered by cryptocurrency exchange services. The majority of such services keep private keys. It means that a user entrusts their funds to an exchange. Hot wallets are considered the most vulnerable to hacks. However, they are the most convenient option if you make transactions frequently or if day trading is your main activity.
To facilitate the selection process, we have chosen the best Dash wallets based on the following features:
Private keys: All these wallets provide users with full control over their private keys;
Security: These wallets are known for being highly secure;
Ease of use: We have chosen the wallets that don’t require specific knowledge to use them;
Developer community: The wallet shall be maintained.
List of Best Dash Wallets in 2024
Ledger Nano S
Ledger Nano S is one of the safest and most popular wallets. The wallet provides you with a 12-digit seed phrase. You use it to create the private key. Once it is done, the security level of the wallet is very high. Your wallet will be safe even if you use it on a hacked device.
The wallet displays all the transaction data on an OLED screen which is very convenient.
Ledger Nano S is suitable to store big quantities of coins.
Trezor
Trezor is the first hardware wallet in the world. It is distinguished for being very light and portable. The plastic and aluminum body of the device is very resistant. It is hard to destroy which means an additional security level for your coins.
When setting it up, you will be provided a 24-digit seed phrase. An additional security level is provided with a 9-digit password.
KeepKee
It is one of the newer wallets. Compared to the two mentioned previously, it doesn’t have much to offer. It is significantly bigger and its OLED screen is larger. It might seem convenient for some users.
DASH Core
It is an official DASH wallet. DASH Core allows users to keep their private keys. The private keys can be restored with the help of a seed phrase even if the PC gets damaged. Along with a top safety level and reliable backup functionality, the wallet supports all the features of DASH such as InstantSend, PrivateSend, governance, masternode management, and so on.
The main drawback is that the wallet requires downloading the entire blockchain to use it. So, it consumes a lot of hard disk space. Therefore, it might be problematic to use DASH Core on older computers.
DASH Core iOS
It is the first wallet for iOS devices and the only wallet that runs on iPhone. This wallet connects directly to the network. So, the safety level is high.
When setting the wallet up, users are provided with a seed phrase. It means that the coins can be recovered from any other device if the mobile device with the wallet is damaged.
The wallet supports ShapeShift. It means that users can swap DASH for Bitcoin directly in the wallet and use the acquired BTC to buy goods and services where payments in BTC are accepted.
DASH Wallet
This is the first open-source DASH wallet for Android devices. This wallet generates a seed phrase, allowing users to control private keys. However, the user interface isn’t smooth enough which might be not convenient for beginners.
DASH Wallet supports the InstandSend feature but doesn’t support the PrivateSend feature.
Coinomi
Coinomi is one of the most popular multicurrency mobile wallets. It is functional, easy to use, and secure. It allows users to control their private keys to ensure the safety of coins stored in the wallet.
Exodus
Exodus is one of the most popular desktop wallets. An attractive UI is comfortable even for beginners. The support of ShapeShift allows swapping DASH to any other supported coin instantly.
Exodus is known for its high security level. It allows users to keep their private keys. A 12-digit seed phrase allows recovering your funds even if the device where the wallet was installed is damaged.
Jaxx
Jaxx is one of the most popular Blockchain interface wallets. It is available for Linux, Windows, MacOS, Android, iOS devices and Chrome and Firefox browsers.
During the wallet set up, users are provided with a 12-digit seed phrase that allows them to restore the funds even if the device is damaged or lost. Private keys are also controlled by users.
The ShapeShift integration allows users to exchange DASH to any supported coin.
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