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Dash Coin News: Dash’s New Service to Help the Victims of Hyperinflation

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According to recent Dash coin news, this well-known altcoin is preparing to launch a new cryptocurrency payment service in Venezuela. The new service will be based on SMS messages, and it will allow Venezuelan users to carry out transactions even without a smartphone.

Dash coin news announces a text-based crypto service in Venezuela

Considering how much Venezuela grew to rely on cryptocurrencies, this will be a large game-changer for some of their citizens. Not having a smartphone, or not being able to use one, has been a large issue for the people of Venezuela. Experts believe that this may have been one of the largest barriers that prevented the country from properly adopting cryptocurrencies.

Venezuela is a country that has been suffering from hyperinflation for some time now. Their native currency, the bolivar, became almost completely worthless. As a result, Venezuela had to implement a new monetary solution in form of digital currencies.

Now, Dash is trying to speed up the process of crypto adoption by providing an alternative method of trading for those who do not own smartphones or lack internet access. To do this, Dash has entered a partnership with a company called BlockCypher. This is a firm that specializes in providing blockchain-based solutions and products that allow users to operate with several different currencies via one single platform.

The result of the partnership is earlier mentioned Dash Text project, which is currently in the beta phase of testing. In collaboration with Venezuela’s largest telecom providers — Digitel and Movistar — Dash will allow users of these services to access its platform via five-digit code.

Dash Text to reduce the effects of hyperinflation

Dash Core’s global head of Business Development, Bradley Zastrow, commented on the move by saying that Dash Text will provide solutions for all those who struggle to survive in Venezuela due to hyperinflation. So far, Venezuelan citizens who left the country have sent over $2 billion in remittances. While this seems like a lot at the first glance, it did not help much since the method of sending this money is complex and costly. With Dash Text, Venezuelan families will be able to get to this money in an easy and cheap way, while Dash’s own ecosystem will grow without the need for a smartphone.

Registering on Dash Text will also be very easy to do, according to Dash coin news. Users can easily complete the process by sending a text with the word “DASH” to 22625, and then send the word “CREAR” to create a Dash wallet. After that, sending and receiving Dash via SMS will be simple.

Dash has had a strong presence in Venezuela ever since August of this year, when the coin was successfully adopted, which sparked a price surge. Since then, Dash has partnered up with multiple retailers across the country, and it even made a deal with a mobile phone maker, Kripto Mobile.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Rufino via Flickr

Altcoins

3 Altcoins That Are Outperforming Bitcoin and Will Likely Face Consequences

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The crypto market is going through a period of massive recovery in the past few months, which has caused the investors’ optimism to return. While all eyes are on Bitcoin (BTC), as usual, the largest coin seems to be struggling with a major resistance level at $8,000 at the moment. While this level was breached a few times now, every breach resulted in a correction.

At the time of writing, BTC is approaching this level yet again, with its current price being at $7,985,79, and rising further. The price managed to grow by 1.06% in the last 24 hours, and will undoubtedly hit $8,000 in a matter of hours, if not sooner.

However, while Bitcoin continues to remain volatile and struggles with waves of growth and decline, there are some altcoins that are not following its path. Of course, most of them are performing in pretty much the same manner as BTC, as they always had. But, a few coins have actually managed to outperform Bitcoin in recent months.

While optimists believe that this might lead to decoupling from Bitcoin — something that only Binance Coin (BNB) managed to pull off up to this point — it is likely that there will be consequences for these cryptos. This likely means that a price drop for these specific coins awaits somewhere in the near future, as outperforming BTC…

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Altcoins

Why Binance May Be Crucial for Tron (Trx) to Reach $1

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TRON
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TRON (TRX) has been one of the most popular crypto projects in the past year. The coin has received a lot of attention from the entire crypto community, and although the impressions may differ —  the fact is that TRX is one of the most talked-about coins, even today.

However, while the project managed to achieve a lot in less than a year — launch its MainNet, start multiple massive projects, launch dozens of dApps, hundreds of smart contracts, its own DEX, new token, and more — its price remains quite low. Undoubtedly, one of the reasons for this is its massive supply. TRX circulating supply is over 66 billion coins, while the total supply is over 99 billion.

Even so, the coin is believed to be massively undervalued, with its current price sitting at $0.028129, according to TradingView. This price, together with a market cap of $1.88 billion, pushed the coin out of the list of top 10 largest cryptocurrencies, and it currently sits at 11th spot. But, many believe that this is not a permanent position for TRON. In fact, its community believes that it is only a matter of time before TRON rises through the ranks, and its price hits $1. And, the way for the coin to achieve this is believed to be through Binance.

TRON and Binance

Binance is one of the world’s…

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Altcoins

Why Tron (TRX) Price Won’t Remain Low for Long

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TRX
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TRON (TRX) has been one of the most popular cryptocurrencies in recent years. The project has achieved a tremendous amount of success in less than a year, and while the first birthday of its MainNet is approaching, TRON certainly continues to impress to this day.

With that said, its price is still noticeably low, and many would agree that the project is heavily undervalued. The low price even allowed other projects to push it out of the top 10 list, with TRX currently being the 11th largest cryptocurrency by market cap. However, it is likely that TRON will not remain undervalued forever, and that its price might soon see a surge that its entire community has been waiting for, for a long time now.

Why TRX might see growth soon

As many undoubtedly know, TRON is a lot more than just a cryptocurrency. It has developed a massive ecosystem, which offers a development platform for coins, smart contracts, and dApps. It also acquired BitTorrent last year for its Project Atlas, which will allow torrent users to earn crypto through participation in content sharing.

For this purpose, it also launched BitTorrent (BTT) token, which saw its launch on January 28, 2019 on Binance Launchpad. This was dubbed the most successful ICO in history at the time, although several coins launched since then have broken its record.

In addition,…

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