Hybrid cryptocurrencies are always on the rise. DasCoin is standing out for its multi-benefit nature. Here are some reasons why many in the crypto community have been choosing it.
Reasons to Choose DasCoin
Every now and then the cryptocurrency market is disrupted by radical new entrants that aim to change the financial economy and bring new technological changes to the cryptocurrency ecosystem. It took more than four years for Bitcoin to gain enough market value to generate enough interest so that the world would take notice.
As the world demanded more and more of the cryptocurrency, Bitcoin’s value rose tenfold. Several altcoins emerged in the market which were based on better blockchains. However, the scammers have also caught up with cryptocurrency. With more than 1,300 altcoins currently available in the crypto market, it is important to choose wisely which coin you want to purchase.
The Difference between Bitcoin and Altcoins like DasCoin
Altcoins are known as Bitcoin alternatives and were launched after the huge success of Bitcoin. Altcoins are improved versions of the old Bitcoin concepts; they give solutions to advanced problems and work with improved technology. The latest altcoins, such as Dascoin are made with advanced security features like two-factor authentication and Know Your Customer (KYC) verifications.
Some coinsare considered to be hybrid cryptocurrencies. As such, they combine the best of both worlds. These coins bring common cryptocurrency benefits, like peer to peer transfers and decentralization, along with the security benefits. DasCoin’s hybrid propertiesare one of the many reasons why this coin is preferred by most altcoin enthusiasts.
Preferences in Choosing Altcoins
When purchasing hybrid coins, onehas to undergo a KYC process. This will enhance security. Anonymity, to some extent, will be compromised. However, no details are shared across the network while transactions take place from one person to another.
Real world Application
Many altcoins are accepted by over 60 million merchants’ worldwide. Unlike other cryptocurrencies, which can be used for peer to peer transactions or basic trading, these coins can be used for daily needs like shopping or even in restaurants. The service provider will also provide credit and debit cards which transfer such coins to fiat currency.
Because of their mandatory KYC requirements, many central banks are looking into Dascoin and studying its benefits. Early adopters might reap the benefits of the coin being accepted by government bodies. Since the potential for growth is high, many are already interested in trading these currencies.
These altcoins are built on blockchains having twice as much processing power than that of bitcoin. This enhances the transfer speed. Most transactions are completed within 10 seconds of initiation. Transaction charges are also less for hybrid cryptocurrencies as compared to other coins, such as bitcoin.
Although it combines the features of traditional currency, hybrid cryptocurrencies are still decentralized at the core. Their clearly-stated goal is to enhance peer to peer transactions.
Check the Whitepapers
Many continue to choose hybrid coins because of their potential for growth. However, every coin that is available in exchanges is not safe. Always check out the whitepapers of the coins you’re planning to get involved with. Look for the objective of the coin and the development team, as well as the technology that the team wants to implement, before choosing any cryptocurrency.