Dash coin (Dash) has gained a significant uptake in Venezuela, a country that has been hit by hyperinflation. So big is the uptake of Dash in Venezuela that most of the trading volumes now come from this country. The main reasons why most Venezuelans are using Dash are its instant transactions, low cost, privacy and above all ease of use. This makes it way more effective than using debit cards, which take longer to process, leading to a loss of value. The situation in Venezuela, though tragic, points to a shift in the world economy, a shift that could see the mass adoption of Dash as a replacement to fiat currency.
The people of Venezuela are adopting Dash due to the failings of their currency. Interestingly, fiat currencies are increasingly failing in more countries, and at a faster rate than ever before. At the moment, most developing nation are at a risk of failed currencies, due to increasing debt, and a more inward-looking United States. So far the currencies of countries like Argentina are in crisis, and they could experience a higher level of inflation going into the future. This offers a massive opportunity for Dash to continue growing into more countries and taking over where fiat has failed. But why Dash coin (Dash), and not any other cryptocurrency?
What makes Dash coin (Dash) stand out in terms of adoption is its operating model that is quite unique relative to other cryptocurrencies. Dash has a self-financing mechanism where a percentage of the coins mined goes towards a treasury. This money can be used to fund any activities that enhance the growth of Dash coin. It’s the main reason why Dash coin (Dash) has managed to gain an edge over other cryptos in Venezuela. Dash has been investing heavily in financial infrastructure in Venezuela, something that has endeared it to the people of this country. As such, Dash can make similar investments in other countries and offer an alternative to shaky fiat currency. It has the resources to do this in almost all the countries where fiat is failing.
From an investor perspective, these attributes make Dash one of the highest potential coins, in the market today. To give you perspective on this, picture the fact that Dash coin has weathered the current bear run largely on the strength of Venezuelan volumes. How much better would it be, if it were to gain mass adoption in a few more countries facing financial problems? The potential surge in demand could take Dash coin (Dash) back to its all-time highs.
This is without a doubt the one coin that could end up replacing fiat in everyday payments, and reward investors in a big way. Very few cryptos rival Dash in terms of usability, and rate of adoption.