Dash – which stands for “digital cash” – is a cryptocurrency that has really seen its horizons grow over the past several years. The asset presently has a new payment app that allows people to make everyday purchases. It is presently supported by more than 155,000 stores and retailers all over the world, along with 125 separate online retailers, making it far more prominent as a payment currency than BTC.
Dash Is Becoming a Major Payment Currency
At the time of writing, the Dash rate of acceptance is about seven times greater than that of bitcoin, with the latter only being accepted as a form of payment at just over 22,000 retailers across the globe. The app is known as Dash Direct, and is accepted at several American retailers, all of which are providing 12 percent discounts to users willing to give the app a try.
Mark Mason – the business relations manager for the asset – explained in a statement:
Dash Direct is a cryptocurrency game changer for payments, user adoption and merchant acceptance in the United States providing unrivaled utility.
One of the big goals amongst bitcoin and many of its altcoin cousins from the beginning was to serve as payment currencies – tools that would ultimately knock things like checks, credit cards, and above all, fiat currencies to the side. This journey has been slow, however, given that many of these assets remain extremely volatile, and thus many retailers have scoffed at the idea of accepting them as payment currencies out of fear of losing profit.
However, as Dash rises through the ranks to become one of the most widely used cryptocurrencies for payments, it appears this goal is edging closer to reality. Among the most well-known retailers to accept payments through the Dash Direct app are GameStop, Lowe’s, Home Depot, and Staples. In addition, several restaurants also accept Dash Direct payments including Chili’s, Subway, and Chipotle.
The app’s co-founder Marshall Greenwald revealed in a statement:
[The app] allows you to use crypto for everyday purchases as easily as using USD, but with the added protections of decentralized money and the added value of five percent average savings due to Dash’s efficient, low-cost transactions and Dash Direct’s unique merchant network.
More Ways to Pay
The app also provides users with a staking feature. All revenue earned through staking can ultimately be used to passively cover daily expenditures. Mark Mason says:
I personally stake my holdings for 6.57 percent ROI and spend the new Dash I receive via block rewards with Dash Direct for my everyday spending needs such as groceries via Insta Cart, fast food cravings via Door Dash, etc.
A non-custodial asset, Dash instantly connects with users’ wallets so they can maintain full ownership of their tokens. At press time, the currency is trading for about $145 per unit.