CRYPTOCURRENCIES have become popular in recent months with investors trying their luck at making some cash.

But the online world is volatile and just as the value can soar, the market can crash extremely quickly, as more currencies emerge.

1 Dash is another online currency that has boomed in recent months Credit: Shuttershock/Wit Olszewski

What is Dash?

Dash is similar to Litecoin in that it was created to improve on the weakness of the bitcoin network.

It was first called XCoin, before becoming darkcoin.

It then merged into Dash - representing "digital cash".

The developers of this currency created the world's first self-funding and self-governed blockchain protocol.

This refers to a peer-to-peer cryptocurency that uses a two-tier network, rather than a single-tier.

This network is achieved through an incentive based system where 10 per cent of each block portion is allocated back to Dash developers who get payments for contributions.

Features include something called "InstantSend" which is instantaneous in a transfer, and "PrivateSend" which keeps the user to be anonymous.

How much is the cryptocurrency worth?

In mid January the price was hovering between $790 and $822.

On February 12 it was priced at $622.31 (£449.86).

In December it had soared up to $1,550.

In November, when it was less popular, the value was $260 a coin.

How to buy Dash?

It appears that there are many sites online which offer to help people buy Dash.

But in all cases buyers must purchase a Dash wallet, where the currency will be transferred through.

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What are some of the risks?

Anyone thinking of investing in Bitcoin or another cryptocurrency should be very careful.

Their values are volatile, with the ability to plummet as quickly as they shoot up.

And investors are frequently targeted by hackers and other criminals who seek to steal their crypto-cash online.

Be especially careful if you are using direct, peer-to-peer platforms to sell and buy cryptocurrencies.

These are the equivalent of something like Gumtree for Bitcoin – you never know who you might be dealing with.