Staking or Proof of Stake (PoS) coins is very hot right now. This should come as no surprise since it is one of the easiest ways to make money. All you have to do is buy a certain number of a PoS coin, keep it in a dedicated staking wallet for a specific duration of time and voila, profits galore! Today we take a look at how to stake Dash Coin.
What is Dash?
Dash is one of the top 20 coins according to Coinmarketcap. It is also referred to as digital cash and is a pioneer PoS cryptocurrency. The project is built on Bitcoin’s core but has additional privacy and faster transaction features. This is called PrivateSend and InstantSend. Dash is open sourced and also peer-to-peer. It is aimed at being a user-friendly as well as a scalable payment system. The coin is the first decentralized autonomous organization to be recognized by international law.
The coin was initially known as XCoin upon its release in January 2014. It was founded by Evan Duffield. In January 2015, it was rebranded to Darkcoin and finally in March 2015, renamed as Dash. The idea behind the renaming was to make it more appealing as a mainstream payment method. Check out the Dash website for more info.
The price of Dash is currently $456.62 and has a market cap of more than $3 billion.
Dash as a PoS coin
Holding Dash as a PoS coin can give you an annual return of about 7.5%. Don’t forget to take into consideration price appreciation during that time. It is important to note that the coin is not truly a staking coin but rather a hybrid of POS and Proof of Work. Proof of Work refers to having a masternode which basically works the same as PoS.
How to stake Dash
You will need at least 1000 Dash tokens to run the masternode aka PoS. The best way to get the dividends is to stake Dash on Stakebox that is currently available at Bitmart.
StakeBox is a great way to earn interest on PoS coins. You simply leave it running on a 24/7 basis connected to the internet and the machine will do all the work for you. It uses very little energy and is quite cost-effective. Click here for more information.
Dash is one of many options available to users of a StakeBox and is definitely worth it!