Cryptocurrency Dash continues making headlines, in January and February of this year Dash has grown from a total market cap of $78 million USD to $233 million USD and jumped from 6th place to 3rd place on the list of the world’s most valuable cryptocurrencies. Overnight, the digital currency overtook Ripple, the crypto backed by names like Santander, UBS, Bank of America, Westpac Banking Corporation, Merrill Lynch, UniCredit and the National Bank of Abu Dhabi.
The growth comes in the wake of the 12.1/Sentinel software upgrade, the impending rollout of the decentralized payments system Evolution, and a series of significant business partnerships like last week’s official integration with BlockPay for brick and mortar store purchases and now today’s news which you can read further about below.
Dash’s announcement today of a partnership with Wall of Coins allows people to buy and sell Dash from a nearby bank or financial services branch. Dash users will now be able to exchange the cryptocurrency at major national banks such as Chase, Bank of America, and Wells Fargo, as well as financial service companies like MoneyGram and Western Union.
The partnership provides the growing number of Dash traders and investors, who currently have to buy Dash from a digital exchange using other cryptocurrencies, with the ability to convert cash to Dash near immediately.
Through its unique governance, voting and treasury model, Dash funded the integration with Wall of Coins.
Dash Director of Finance Ryan Taylor said:
“One of the biggest barriers for consumers getting into a new cryptocurrency like Dash is obtaining their first coins. With most services, there is a lot of friction involved. You need to sign up for an account, verify your identity, wait for account approvals, and transfer funds from a bank account. The entire process can take days. Wall of Coins makes this process much simpler, and allows users to purchase Dash immediately at tens of thousands of physical locations in twelve countries. And since Wall of Coins is supporting our InstantSend feature, transactions leveraging the Wall of Coins system will be blazingly fast. It also gives the community another way to sell their Dash, often at a premium to the rates available on traditional exchanges.”
Wall of Coins is a web-based platform that allows users to buy Bitcoin and Dash with cash, or sell Bitcoin and Dash for cash, in a peer-to-peer manner. Through an easy step-by-step process on the Wall of Coins website, customers are instructed to deposit cash at a local financial institution, and in a matter of minutes, receive Dash or Bitcoin directly to a software wallet of their choice. They can then sell their cryptocurrency holdings to Wall of Coins, and withdraw the corresponding cash value at their closest financial institution.
Robert Genito, Project Director at Wall of Coins said:
“We have become the first service to let people get Dash directly with paper money, and by far the fastest marketplace for it. It took us a little while, but we realized why Dash was so important in this industry; it truly is a great gift to the world. Although Bitcoin purists had immediately disregarded it and gave me pressure for talking positively about the protocol, Dash is really focused on giving people and business what they truly want: instantly-settled payments, privacy, optional transparency, and the ability to fix problems quickly.”
Albert Arellanes, Wall of Coins CMO added:
“The biggest advantages to using Wall of Coins are privacy and speed without compromising safety. These are our absolute priorities. For example, it’s safe: other services put you at risk meeting strangers where you could get robbed or scammed. We know that this is completely irresponsible for peer-to-peer marketplace services to put their customers at risk. We always keep our customers safe. Even today you continue to hear countless cases of buyers and sellers getting scammed—or even harmed physically—using other services like Local Bitcoins, Paxful and Bitquick. No one has ever been scammed or harmed using Wall of Coins, and we are very proud of that.”
Wall of Coins is more than a peer-to-peer marketplace because all of its services are offered through an API, allowing developers to build additional services on top of their platform.