For some time now, crypto traders who want to experiment with altcoins have been making a DASH vs. Litecoin comparison.
Both cryptocurrencies have made a name for themselves, and both have an ever-increasing fan base. Litecoin vs. DASH is an interesting question because these altcoins have distinguished themselves from the rest of the herd to the extent that leading investors are consistently interested in their potential.
When making a Dash vs. Litecoin comparison, you want to remember that there is a never-ending debate on what the better investment between the two is, what the potential crypto investor needs to consider when choosing between Dash and Litecoin.
In this guide, we take off our shoes and walk to the deep end of this debate to give you an informed insight into the specific features of both coins and what separates them. Hopefully, this comparison will help you make an informed decision about the DASH vs. Litecoin question.
What Is Dash?
Dash (DASH) is a blockchain-based peer-to-peer cryptocurrency that was forked out of Bitcoin to offer faster transactions to users than Bitcoin could deliver. It is a blend word for digital cash.
Dash was launched in 2014 and changed several names before becoming Dash as we know it today. The initial goal of the project was to create a cryptocurrency network that would operate faster and cheaper than Bitcoin and would be capable of maintaining more privacy. Holders of large amounts of Dash have different privileges (Instant Send, Private Send). Dash is an open-source project. It has its own blockchain. The currency is supported by many crypto wallets, and it has gained significant market capitalization. Another great achievement is its numerous partnerships, including collaborations with Western Union, web stores, etc.
Dash has a very dedicated development team who has created a unique interface for the coin. It now offers offline transactions, thus filling the gap between the online and the offline spheres. Apart from offering the highest transaction speed, it serves over 4500 servers globally at the highest security level.
Even today, with all the milestones they have crossed, their development team is not sleeping. The coin’s master node has continued to add new features such as self-governance and self-budgeting, among others. In addition, the master node’s network is in such a way that more features can be added in the upcoming years. Experts believe that the next project by Dash, dubbed the ‘Evolution,’ will usher in eCommerce with not only the lowest risk levels but also maximum reputation.
What Should We Expect?
Just like Litecoin, Dash is also working on new options to make their coins more user-friendly. They released Dash version 12.3 and are planning to launch the alpha evolution version very soon.
What Is Litecoin?
Litecoin is very different from Bitcoin Cash. Litecoin, also known as LTC, is a “lite” version of Bitcoin. Like Bitcoin, Litecoin is based on an open-source system. Litecoin differs from Bitcoins in aspects like faster block generation rate and use of Scrypt as a proof of work scheme.
Based on blockchain technology, litecoin can be used to transfer funds directly between individuals or businesses. This ensures that a public ledger of all transactions is recorded and allows the currency to operate a decentralized payment system free from government control or censorship.
Alas, litecoin has not currently been adopted by businesses or consumers as a method of payment. But, some see potential in blockchain technology and think this could become more widely adopted in the future.
What Do We Need to Know About LTC and Its History?
Launched in 2011 by former Google employee Charlie Lee, LTC is a fork of Bitcoin.
In the beginning, Litecoin was aimed to be a faster and cheaper version of BTC. We can say that LTC is available for mining mostly on complex technical systems called ASICs.
Today, Lee sees these currencies as working together rather than against each other. Since the entire market cap of LTC is smaller than Bitcoin’s, there is less risk when trying out new software upgrades to Litecoin. In this way, Litecoin acts as something of a test network for its bigger, more established brother.
Compare LTC and DASH
Below we will be diving into comparison between these coins, so that it is easier for you to make a choice.
Litecoin is not associated with privacy and is completely transparent with its transactions, the amount being sent or received is publicly viewable. In contrast, Dash is known as a privacy coin, which makes your transactions private and not publicly accessible. It mixes the user’s transaction with other transfers, wherein a server called “master node” enables it to expedite the mixing process.
In the case of Litecoin, the block reward goes to the miners, but in the case of Dash, the block reward gets split into different recipients like – 45% goes to the miners, 45% goes to the master nodes, and 10% goes to the treasury. For Litecoin mining, the node operators cover the cost of running a full node, but for Dash, the node cost is subsidized by block reward.
Transaction Speed and Commissions
Litecoin can handle around 56 transactions per second, and the transaction fee for LTC is 0.001 LTC. Litecoin can decrease its transaction fee and increase its speed with the help of the lightning network, which enables instant transactions with the lowest fee. Dash is ahead in terms of transaction speed because of InstantSend, which enables its consumers to make payments for confirmation in less than a second. As per some of the developers, the transfer commissions of Dash enable more use cases of this crypto.
Currently, Litecoin is trading at $186.29, with a market capitalization of around $12 billion and a circulating supply of around 66 million LTC. Dash, on the other hand, is trading at $208.60 with a market capitalization of around $2 bln and a circulating supply of around 10 mln DASH.
Where Can You Buy Them?
Are you ready to make your first Dash or Litecoin purchases? If you are interested in investing in these coins, you need an exchange. LTC and Dash do not trade on any major stock platform. You can’t go to your online discount broker and simply buy these coins. They have to be converted into your wallet.
We have a service suitable for you. We recommend using NeuronEx, which allows quicker and easier access to your cryptocurrency.
Accessible Options on NeuronEx
This is a service made for financial transfers: for crypto to fiat and crypto to crypto exchange. You will be able to convert altcoins more quickly and securely.
It has a user-friendly interface, and its useful tools make the purchasing experience smoother than ever before.
Moreover, it offers more than 200 means of payment, including credit and debit cards, as well as bank transfers.
As a great plus, NeuronEx also has an app accessible for Android and iOS customers. When it comes to mobility and convenience, it is incredibly popular among users. Track currencies, use a converter and manage your budget all in one place.
How Can I Make a Transaction?
It is pretty straightforward: you may use a converter, available here. Sign up for free, choose the most suitable type from the list of payment methods, and make your first financial transaction.
We have no hidden commission for LTC or DASH purchases. You can buy coins at a good cost and almost zero commissions.
Online Wallet On NeuronEx
And last but not least, as soon as you get your altcoins, you need a place to store your funds, no matter if you prefer trading or HODLing funds.
Simply put, once you have gained a coin on an exchange, you will need a safe place to store your holdings. Using an online wallet instead of keeping your crypto digital coins with an exchange gives you greater control over your virtual funds.
These wallets provide users with a digital solution for securely storing money and managing digital coins. These online wallets allow customers to send and receive alternative coins, store and spend, and also trade cryptocurrencies. Simple!
You may want to try an online wallet accessible on NeuronEx.
It is a good place to store your funds safely and securely. You will be able to access and manage your portfolio in a real-time mode and control your online assets. Make transactions anonymously, convert digital assets and send alternative coins all in one place.
You can learn more about what NeuronEx has to offer and find out about important updates right here.