Some of our customers may face an error when withdrawing Dashcoin: ‘Cryptocurrency address is not recognized as valid’ withdrawing from the desktop app or ‘Invalid address’ withdrawing from the Dashboard. In this post, we will dot all the i’s and cross all the t’s on this subject.
Why the error occurs
Well, you want to withdraw Dashcoin and all of a sudden get the message: ‘Cryptocurrency address is not recognized as valid’. This message persists because during the process you have confused Dashcoin (DSH) with Dash (DASH).
These are two totally different currencies with similar names. If you google one, you are likely to find mixed information about both in one search query. Dash was launched as XCoin in January 18, 2014, and 10 days later was rebranded as Darkcoin. On March 26, 2015 Darkcoin was renamed to Dash. Partly in order to gain over Dashcoin users and partly to expand the brand, and that was the time when this confusion began. Please note that we DON’T support Dash mining on MinerGate.
What is Dashcoin
Dashcoin (DSH) is an anonymous cryptocurrency, which represents an automatically mutating mirror fork of Bytecoin. Dashcoin is based on the technology called CryptoNote. It uses CryptoNight algorithm. Apart from Bytecoin, CryptoNote is also implemented in many other cryptocurrencies which form a whole family. This algorithm uses ring signatures and one-time addresses, thus hiding the sender and the recipient. Dashcoin was launched on July 5, 2014. To mine Dashcoin, it’s enough to have a computer with average hardware.
To join Dashcoin miners community, just download our convenient application and choose the coin in the list of the currencies.
Current Dashcoin rate: 1DSH ~ $ 0.002316 (100 DSH ~ $ 0.2316)
What is Dash
Dash (DASH) is a coin based on X11 algorithm. It’s a system which consists of 11 chain hashing algorithms for the-proof-of-work. Another feature of Dash is Darksend, a special scheme which allows you to always stay anonymous. Dash is designed for powerful CPUs.
Current Dash rate: 1 DASH ~ $ 11.39
Note that you can always check the current rates and exchange the coins at our crypto exchange Changelly.com.
How to distinguish
So what should you do to tell the difference between these cryptocurrencies?
- Pay attention to the logo.
2. Mind the initial letter of a wallet address. A Dashcoin wallet always starts with the letter ’d’, while a Dash one starts with an ‘x ‘, which is the legacy of its first title XCoin.
3. Notice the ticker, an abbreviated cryptocurrency name. Dashcoin is referred to as DSH, whereas Dash is known as DASH. It’s pretty simple: the longest name has the shortest ticker.
4. Finally, you may explore the currencies’ official websites and accounts in social media.
- Official Dashcoin website
- Dashcoin bitcointalk.org thread
- Dashcoin Reddit thread
- Dashcoin Twitter account
- Official Dash website
- Dash bitcointalk.org thread
- Dash Facebook page
- Dash Twitter account
- Dash G+ page
To get everything done the right way, follow our short instructions:
- download the binaries for a suitable Dashcoin wallet at GitHub.
- see our installation guide to get your desktop wallet ready
- visit our FAQ if you have questions about making a withdrawal
Although Dash and Dashcoin sound similar, they are very different currencies that have nothing in common, except for the 4 letters in the title, which are the sources of confusion. Everything is different, starting from logos and ending up with algorithms. To tell the difference between them, you just need to be a little attentive.
If you are sure that everything you’ve entered is correct, but the system still rejects withdrawals, please contact our support team. We’re always happy to answer your questions.