I hope you all are fine and having a great time in your respected lives. It's an honor to be here at Steemitcryptoacademy again.

Yesterday, I learned about privacy coins (its fundamental analysis, advantages and disadvantages, how to create a wallet of it) by the post of our respected professor @levycore and here is my homework task in this regard. So let's get started without wasting much time.

Question no 1:

Choose a Privacy Coin and perform a fundamental analysis of the coin in detail.

What is Privacy coin:

Before doing a fundamental analysis on a particular privacy coin we all must understand that what privacy coin actually is. The privacy coin is a digital currency with a private and anonymous transaction system which means any type of transaction that occurs will be highly private and secured and no one will be able to get any information about it. It hides your identity, the amount of balance you have and the amount of transaction you made which means all your data is safe and secured.

Brief Introduction of Dash:

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Dash was launched in January 2014. Firstly it was launched with the name Xcoin then it changes to Darkcoin but after sometime it is renamed as Dash. It is an open source blockchain and is decentralized in nature. It is almost similar to bitcoin and has strong privacy and security then bitcoin. It is common among many users due to its high speed, low transaction fees and many other features.

Privacy:

As we all know that we can see all the types of transactions in bitcoin like Sender address, recipient address, the balance you have, previous transaction you made or the previous trade you made all these are always in record in bitcoin. In Dash crypto currency that's not the case, it is very private and secure due to its non-traceability. Users are the only ones who can see all the current transactions.

Speed:

Due to instantspeed protocol, all the transactions performed in Dash can be done in a second which is also a great deal as compared to other cryptocurrencies..

Less transaction fees:

If we look at the transaction fees in Dash it is very much low. Low transaction fees makes it unique and attracts the users towards it. You have to pay a few cents to perform any transaction in Dash which is quite low. If we look at the other crypto currencies it requires dollars for transactions.

Dash Mining:

Like many other coins dash mining can also be done. There are different ways by which you can mine dash coin like you can make use of your computer's processor. Alternatively, you can employ ASIC computers
.

Exchanges in which Dash is listed:

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The exchanges in which dash is listed are shown in the above screenshot. Some of the major exchanges like bittrex and FTX does not list dash due to its privacy oriented blockchain.

Market overview of Dash:

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Dash is currently trading at 190.70 with the 24 hour trading volume of $490,445,660 and a marketcap of $1,935,139,595. Dash coins has the maximum supply of 18,900,000 dash coins with the circulating supply of 10,167,390 dash coins. The chart of dash price is given below;

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Question no 2:

Describe the steps in creating a wallet for the Privacy Coin of your choice. (Screenshot required)

As many other crypto currencies have their own wallet, Dash has also its own wallet with a lot of features and with amazing privacy and security. You can download dash wallet easily from google play store.
To learn how to create dash wallet app from google play store follow the steps with screenshot which are given below;

• At first, open google play store and search dash wallet.
  
  
  

• Then download the dash wallet app which is shown in the screenshot below;
  
  
  

• It will take only 2-3 minutes for downloading. Open the app after installing, a welcoming page will appear first so click on the skip to get yourself to the other page;
  
  
  

• Then click on create new wallet;
  
  
  

• Set the four digit pin for the app security and memorize it because it requires whenever you login to the app again.
  
  
  

• After setting up the pin your wallet is created, but the wallet isn't secure enough and it needs a recovery phase. So hit the secure now button as shown below;
  
  
  

• Now click on account recovery phase.
  
  
  

• Some phrases will appear on the next page. Save all those phrases in a notebook or write it in a copy or anything and do not share these phrases with anyone. I also have blured the phrases in the given screenshot due to privacy issues. So after saving the phrases put the tick mark on I wrote it down and then hit the continue button as shown below;
  
  
  

• Your dash wallet app is created now and you can do any type of transaction, deposits and withdrawls in it.
  
  
  
  
  
  These are the easy steps to follow to make your account on dash wallet.

Question no 3:

Explain the reason you chose the Privacy Coin. (State the advantages and disadvantages)

Reason why I choose Dash coin:

I choose dash coin because it provides high level of privacy and security. Dash is a bitcoin derivative that provides users with some privacy, as opposed to the bitcoin in which transactions are opened and can be traced with ease. It also has a limited amount of supply which means it has a bright future in crypto currency world. It also has a good trading volume. It works faster then others and has an advantage over bitcoin. It has some great features which also gets improved as the time goes on.

Advantages of Dash coin:

There are many advantages off dash coin some of which are as below;

• Easy to perform any type of transactions.
• It is a lot faster then others and can perform any type of transactions in micro seconds.
• It also has very low transaction fees which attracts the user.
• All the transactions can be private and more secure.
• Its upon the user that if he/she wants his/her transactions to be private or not.
• It is a lot secure then others.
  
  

Disadvantages of Dash coin:

Despite many advantages there are also some disadvantages of Dash coins so have a look at them too;

• Currently there are many coins like these are established which makes a lot of competition with it.
• Every one can do any type of illegal transactions by setting transactions private and untraceable.
• There are less number of users and is not widely used now a days.
• Users are also facing some problems regarding privacy and security.
  
  

Conclusion:

After doing a deep research regarding privacy coins I came to a point that privacy coins has solved many problems regarding private transactions, transparency, security and identity exposure but if we look at the other hand it is also in the sight of hackers and other to do illegal transactions through it.

If we look at dash crypto currency it has an advantage over other crypto currencies. It has limited amount of supply which which means that it will be in higher demand in future when the supply can no longer be mined. It is great option when it comes to everyday life transactions like paying bills and many other things.


That's all from my side I hope you like it an thanks for giving it a read.