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Over 300+ million people worldwide own or use cryptocurrency, with 57% earning money by investing in crypto. Almost 81 million users use Blockchain wallets for their cryptocurrencies. However, there are many drawbacks of the Blockchain network.
To overcome these blockchain issues, Directed Acyclic Graph (DAG), which is a data modeling tool, is introduced. It uses vertices and edges rather than blocks for transactions.
In this article, we’ll discuss steps on where and how to buy DAG crypto, why you should consider buying it, and the future of DAG technology.
How does DAG work?
In a Directed Acyclic Graph (DAG), one transaction provides validation to another. It means users are validators and miners. However, you cannot validate your transactions.
This method allows users to pay little or no fees. Suppose you own a database of global sales, and you want all sales by region expressed in US dollars in a report.
Here, you don’t need to wait to validate the loaded data from the sales database to proceed to the next vertex. Similarly, in DAG, transactions are built simultaneously on top of one another instead of gathering them into blocks. In simple words, the previous transaction will validate the new one while you can easily proceed to new transactions.
What is DAG-Chain?
DAG-chain uses topological order for transactions, which means the data can only go forward in a sequenced manner and does not have to loop back for verification. It allows you to cut time for transactions and requires less power.
Difference between DAG and Blockchain
| Feature | Blockchain | DAG |
| Data structure | Sequential | Network |
| Verification | Miners | Consensus algorithm |
| Transaction speed | Slow | Fast |
| Energy consumption | High | Low |
Which Cryptocurrencies use DAG?
Cryptocurrencies like IOTA (MIOTA), Obyte (GBYTE), and Nano (XNO) use DAG technology for transactions.
Where to Buy DAG Crypto
DAG is a new technology in the crypto-verse and is not available on many platforms. It is also known as potential Blockchain 3.0. Here is the list of crypto exchanges for DAG Cryptos:
Source: coinmarketcap
Is DAG-coin listed on Binance?
DAG-coin is not listed on Binance for crypto trade and service.
How to buy DAG Crypto
Buying DAG crypto is easier and probably takes 10 minutes. All you need is a smartphone or computer, ID, and means of payment.
- Go to Cryptocurrency exchanges that offer DAG crypto. [mentioned in the article]
- Create an account with your credentials.
- Deposit funds through a Debit card, Wire Transfer, or by selling other cryptocurrencies.
- Now, you can buy DAG crypto by using your funds.
- After buying it, you can store it or start investing.
How to buy DAG Crypto with MEXC Platform
MEXC is a platform that provides DAG crypto trading with a few steps. First, you can log into your account or create a new account on MEXC and further follow the steps:
- Navigate Buy Crypto after logging in.
- Select the method to buy crypto or choose the Quick BuySell option.
- Choose the cryptocurrency you want to pay with.
- If you are new, select USDT and confirm.
- You can now go through KYC verification and Approve. [Note: You only need KYC verification if you are using a Visa or Debit/Credit card for paying.]
- Now Click Trade and then Spot.
- Find the DAG and go to the Market.
- Enter the DAG amount you want to buy and press Buy.
Remember, if you are paying with Visa or MasterCard, you will get two options for KYC verification: Primary and Advanced. If you’re a starter, then go for Primary and vice versa.
How to Buy DAG Crypto With Kriptomat
Another easy way to buy DAG crypto is Kriptomat, especially for Europeans. Here are the steps to get started with DAG trading:
- Start by creating a free account on Kriptomat.
- Verify account details to authenticate your ID.
- Deposit funds.
- Done! Buy DAG with a simple click.
If you are using EUR on Kriptomat for DAG, you can use secure options for funding your account via Skrill payments, SEPA bank transfer, or instant credit card.
Where to Keep DAG Crypto?
After buying DAG crypto, if you plan to hold and sell them when the price increases. You need a secure digital wallet to keep them. Here are a few wallets that support DAG crypto:
The best wallet for you will depend on your individual needs and preferences. If you are looking for a simple and user-friendly wallet, DagWallet or Atomic Wallet may be a good option. If you are looking for a more secure wallet, a hardware wallet like Ledger Nano S may be a better choice.
Alternative Ways to Buy DAG Crypto
Crypto exchanges are the best way to buy DAG Crypto. However, you can also go for alternative ways for DAG crypto trading, which are less costly.
DEXs (Decentralized Exchanges)
DEXs for crypto are not owned or operated by a central authority. It makes it more secure to buy DAG crypto but difficult to use. Here are some DEXs that support DAG crypto:
- Lattice Exchange
- PancakeSwap
- 1inch
- Uniswap
- SushiSwap
Try PureVPN for Secure DAG Crypto Trading
In Web 3.0, every individual is earning money and investing it in crypto trading, and with the potential Blockchain 3.0 and DAG technology, we can expect an increase in it; however, as the world moves towards virtual coins, the dangers to keeping it secure as well.
One of the biggest disadvantages of digital coins is that scammers and hackers can access them. But through platforms like PureVPN, you can overcome it. Here are the benefits of using PureVPn for DAG crypto trading:
- It provides strong encryption to protect your digital assets from unwanted guests.
- It conceals your IP address and connects you to a server of your choice to make your location invisible to third parties.
- If you cannot find DAG in your country, then don’t worry. Through PureVPN, you can connect to any country server, which exchanges DAG crypto without geo-restriction.
- With PureVPN, you can also get dedicated IPs to have a consistent address for Cryptocurrency trading. It prevents you from being flagged or removed as a suspicious user.
- It also does not store your online activity logs, including transaction history.
Why is DAG A Revolution in the Crypto-verse?
DAG is also known as a revolutionary protocol due to its uniqueness. It overcomes many disadvantages you receive in Blockchain technology.
Here are factors on why you should consider buying DAG crypto:
Scalability
DAG provides higher scalability than blockchain networks, rather than having continuous expansion for new transactions and increasing nodes for scalability. DAG suggests throughput as it is not limited by block times. You can process more transactions per second than usual blockchain.
Say Goodbye to Transaction Delays
Transaction speed is the key point of a DAG. You can broadcast transactions and get validation simultaneously. The traditional block-time is no longer a hindrance to your new transactions through DAG.
Energy Efficient
DAG does not use the PoW (Proof of Work) mechanism, which consumes high energy of devices used for mining. Hence, DAG is an energy-efficient and friendly alternative to PoW blockchains.
Cost Effective
DAG has no miner that causes additional costs for public blockchain networks. It reduces the pressure of adding new transactions without increased charges.
What is the Drawback of DAG?
One of the drawbacks of DAG is Complexity. Analyzing and processing transactions becomes exponentially difficult as nodes and edges increase.
Future of DAG crypto
The future of DAG crypto depends on how the overall crypto industry performs. DAG crypto has difficulty reaching the top with other crypto coins like Bitcoin and Ethereum.
If you have a high-risk tolerance and solid financial position, you can go for DAG crypto investment.
DAG Crypto: Ending Note
About 66% of the total cryptocurrency market is topped by Bitcoin. With these conditions, buying DAG crypto is still risky.
Although it is still a new protocol, DAG technology can be revolutionary and potentially disrupt traditional Blockchain networks if it receives the attention it deserves.
You can invest in DAG crypto with this step-by-step guide securely with PureVPN.
Marrium Akhtar
August 30, 2023
9 months ago
