82% of retail CFD accounts lose money.

How to stake Dash (DASH) in 2024

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By Onose Enaholo - Updated 24 June 2024

Fact Checked

Dash is the name of a decentralised peer-to-peer (p2p) payment network used to transfer funds between parties and accept payments instantly, and its native coin, also called DASH, powers this payment system.

Dash’s network is a fork of Bitcoin’s code but with a focus on privacy, security, portability, and speed. Dash’s transaction time is significantly faster than Bitcoin’s at 1-2 seconds (Bitcoin’s is about 20 minutes).

Dash achieves its speed by maintaining a mining layer which includes miners that process transactions and get rewarded with DASH and the masternode layer which include nodes that provide enhanced functionality, like Dash’s instant transaction speeds and blockchain usernames.

These masternodes also make up a decentralised autonomous organisation (DAO) that votes on proposals pertinent to the network’s operations.

This page dives into how to stake Dash, and why you may want to.

Frequently Asked Questions

Is Dash proof of work or proof of stake?

Both. Dash uses a mining layer (proof-of-work) and a validating layer (proof-of-stake) to ensure security. The mining layer processes regular transactions while the validating layer, also called the masternode layer, processes the transactions that make Dash fast.

Can I stake DASH on a Ledger wallet?

You can’t. The Dash network is not supported by the Ledger wallet. Staking can only be done on centralised exchanges.

How much do masternodes make?

The current reward per block is 3.32 DASH, 45% of which goes to masternodes in an LLMQ. When a masternode votes on a block, it is added to a payment list which is sorted in chronological order. Dash’s internal mechanism ensures that a normal functioning masternode earns about 6 DASH every month.

Can I buy DASH in the US?

Yes. You can buy Dash on authorised exchanges in the United States. However, New York residents need to ensure that their chosen exchange is also authorised to operate in New York.

How do I know whether or not the masternode I stake to will be selected for a LLMQ?

While Dash once relied on randomisation to select masternodes to add to quorums, more recent updates switched to a deterministic model, meaning that all masternodes get a turn.