It’s been a breakout year for Dash…
In February, Dash partnered with BlockPay.
BlockPay allows point-of-sale purchases. That means you can spend Dash at select brick-and-mortar stores. BlockPay is available around the world and in 44 languages.
In March, Dash partnered with Wall of Coins.
Wall of Coins allows you to buy Dash through major financial institutions such as Chase Bank and Western Union. That makes it easier for Dash users to exchange cryptocurrency for their local currency.
That same month, Dash partnered with Coinapult. Coinapult allows you to buy Dash with 20 different fiat currencies.
And in May, Dash teamed up with BlockCypher. This is even bigger news…
BlockCypher provides technologies that allow businesses to work with cryptocurrency blockchains.
BlockCypher already works with the U.S. Department of Homeland Security and financial consulting firm Deloitte. Cryptocurrency services Abra and Xapo are also clients.
The partnership with BlockCypher is a significant step toward mainstream adoption of Dash.
These are just a few of the partnerships Dash has put together in 2017.
At Palm Beach Research Group, we’ve done more research on cryptocurrencies than any other newsletter in the industry.
And after looking at Dash, we think it has the potential to surpass bitcoin as the most widely used cryptocurrency for payments.
Today, I’ll show you why Dash is separating itself from bitcoin to become the king of digital cash.
Designed for Payments
Dash is a cryptocurrency. Its name is a combination of the words digital and cash. We first mentioned Dash in the Feb. 26 Daily.
Dash was originally designed for private, anonymous transactions.
Today, Dash has repositioned itself as digital cash. Its developers want to make cryptocurrency payments so easy that Grandma can make them.
Dash has three features that make it a better solution for payments than bitcoin:
First, it’s fast. Its InstantSend payment feature allows for payment confirmation in less than a second. Bitcoin’s transaction times can take up to 10 minutes.
Second, it’s private. Dash’s PrivateSend feature ensures your activity history and balances are private.
Third, it’s self-governing and self-funding. Dash’s governance model ensures continuous improvements to the network. (In crypto-speak, it’s a true “decentralized autonomous organization.”)
Dash’s new partnerships and unique features are paying off…
As Connections Increase, Adoption Follows
There are about 5,000 Dash transactions per day. That’s up from about 1,000 at the start of the year.
Transaction volume has grown by five times as well.
And we’re seeing Dash used in real-world cases, too…
Take Living Room of Satoshi, for example.
It’s an Australian company that allows people to pay bills with cryptocurrencies. You can make utility, rent, credit card, and insurance payments on the website.
(People familiar with cryptocurrencies might recognize the Satoshi name. It refers to Satoshi Nakamoto, the pseudonymous name of bitcoin’s creator.)
At first, Living Room of Satoshi only accepted bitcoin. Now it accepts five more currencies.
And while bitcoin is still the most used, Dash has quickly moved to the second spot.
With all the new partnerships, it’s no surprise that Dash is up 663% for the year.
And it’s just getting started.
Right now, the market values Dash at $600 million.
But consider this: Revenues for the payment industry are over $1 trillion every year. And they’re expected to hit $2 trillion by 2025.
So there’s plenty more upside for Dash.
Regular readers know we’ve written a lot about bitcoin. But there are a number of other cryptocurrencies we like… and Dash is one of them.
That’s why you need to put Dash on your radar today.
Analyst, The Palm Beach Letter
P.S. And now, on to a Chart Watch from my colleague Nick Rokke, Palm Beach Daily’s chief analyst.
Amazon continues to demolish brick-and-mortar retailers…
Just take a look at the chart below. It compares today’s market capitalization of major retailers to their market cap 10 years ago.
And as you can see, Amazon is running away from the pack…
While the market caps of major retailers are getting annihilated, Amazon has taken off.
Just 10 years ago, its market cap was $16.9 billion. Today, it’s over $430 billion.
Look for more companies to get Amazon’d.
Firestorm Over Trump “Scandal” a Buying Opportunity
Turmoil in the White House is rocking the stock market…
On Wednesday, the Dow Jones Industrial Average and S&P 500 both dropped 1.8%. And the Nasdaq was down 2.6%.
Investors hit the sell button after more news emerged about President Trump’s alleged ties to Russia.
If Trump is impeached or resigns, the entire “Trump trade” (the bet that Trump would lower taxes and boost infrastructure spending) will unravel. But Teeka says right now, that’s all conjecture.
In the meantime, he says the overheated market is taking a breather. So you should see the pullback as a chance to look for bargains rather than run for the bunker.
Editor’s Note: Who do you blame for the sell-off in the stock market? The Trump administration or the Washington establishment and mainstream media? Share your views with us right here…