The peer to peer platform Bitcoin.de has announced that it would now add Dash as one of the cryptocurrencies it supports. The announcement
means a lot for the Dash Foundation and community since it would move the cryptocurrency a step towards further adoption in Europe where the exchange is based and operates.
According to the release by Bitcoin.de, its peer to per system of operation supports decentralization because there is no central wallet but buyers and sellers send coins directly to one another.
The platform only steps in to manage bitcoins when a buyer needs to purchase another cryptocurreny by acting as an escrow as they’ve been doing in cases of payments with fiat (euro). However, with Dash support, the cryptocurrency takes the place of the Euro on the exchange enhancing transactional speed.
According to the company, there are many benefits in this approach to the decentralized exchange. It stated that:
“An advantage of this model is that customers can react faster. With conventional stock exchanges it is necessary to deposit cryptocurrencies first on a Wallet of the stock exchange operator, which can take 10 minutes up to possibly several hours. With crypto-to-crypto trading, customers can accept an offer as soon as they have access to their cryptocurrency.”
The Dash community expects the impact of the support to be felt in terms of demand since Bitcoin.de has three-quarter of a million customers that would now start using Dash in one form or the other even as more merchants would become aware of the digital currency.