It is of no news that Dash till date remains an ideal cryptocurrency for trading due to its near-instant speed of transactions, low cost of transactions and high security. Dash has now moved another step towards making it the de facto currency of crypto traders by launching a network of integrated companies called FastPass.
What is Dash FastPass all about?
Dash Fastpass is a system of integrated companies working together in a mutual trading ecosystem to optimize usage by Dash traders in executing their business. Either as institutional traders or individual traders, the FastPass network offers tools that enable trading transactions to happen with minimum fuss. Such tools include staking solutions, margin trading, trading bots, OTC, analytics, lending, and derivatives. The different platforms and services that make up FastPass possess the InstantSend and ChainLocks functionalities that enable users to withdraw, deposit and execute trading with Dash at near-instant speeds.
Speaking on the launch of the FastPass network, Business Development Manager at Dash Core Group Omar Hamwi made the following remark:
“we’re not only bringing value to the Dash network but to our FastPass partners and their users as well. This not only helps support our strategic partners but also raises awareness to users as to where they can experience what makes Dash the best for traders. We have seen that utilizing Dash through our partners with this enhanced user experience, traders will see that Dash is scale-able, easy, near instant, secure, and highly affordable to transact and move between FastPass partner exchanges”.
Advantages of FastPass for professional traders
The FastPass framework is launched specifically to facilitate trading in Dash by utilizing features inherently unique to this cryptocurrency. Here are some of the advantages of the launch of FastPass for professional traders:
- Dash traders can act on arbitrage opportunities quicker than their counterparts that use other cryptocurrencies. This is possible using partners in the Fastpass network such as Coinbase or Liquid.
- Dash traders have access to speed optimized trading bots, through partners such as Quadency or Hummingbot. These bots provide data about transactions in real time, eliminating human laxity in conveying information.
- Dash traders can deposit and withdraw funds in and out of secure storage at mind blowing near-instant speeds, using FastPass partner Keep Key.
All these advantages would only increase as more and more partners are added to the network. This gives the professional trader using Dash, all the tools needed to trade efficiently, effectively and under maximum security.
The partners of Dash’s FastPass network
The following are partners that constitute the initial Fastpass network:
Speaking about the partnership to join the Fastpass network, Co-founder & COO at Hummingbot, Carlo .p. La Marias expressed:
“Hummingbot is proud to be a Dash FastPass accredited Partner. Dash’s impressive and unrivalled speed, security and low cost of transaction fees, provides us with another building block to further develop and enhance the Hummingbot user and trading experience. Dash’s InstantSend and chainlocks functionality, allowing near-instant deposits and withdrawals, will enable new automated trading strategies that take advantages of market and arbitrage opportunities across the Dash FastPass network of partner exchanges and services”.
Educational material about the specific details of the Dash FastPass network is currently being developed by Dash and its partners. They will be launched in early October on the website www.dash.org/fastpass. This initiative would educate traders of different caliber of experience, on how to manipulate the speed of these services to maximize return on investment.
All in all, the Dash FastPass network will prove to be an important asset for Dash and other crypto traders in the nearest future.
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