Dogecoin is a peer-to-peer, open-source cryptocurrency that is still considered an alt-coin to this day. The coin was established in 2013 by founders Jackson Palmer and Billy Markus and was designed based on the meme of a Japanese dog that went viral.
Despite being one of the most well-known and spoken about cryptocurrencies on the market right now, Dogecoin was originally created as a meme – a coin that provided a light-hearted and fun alternative to many other popular cryptocurrencies out there, like Bitcoin and Ethereum. The kicker is that, when Dogecoin was invented, it wasn’t scarce at all. Over 10 000 coins were being mined every minute and there was no maximum supply.
People viewed Dogecoin as a meme that would never hit the mainstream cryptocurrency market, but as multi-billionaires like Elon Musk started to advocate for the coin, its popularity exploded. It now stands as one of the Top 10 Most Traded Cryptocurrencies on the planet, and it doesn’t seem to be going anywhere anytime soon. In fact, there are now a huge number of people who prefer to buy Dogecoin over other more popular cryptos like Bitcoin.
How to Buy Dogecoin
Like with many other popular cryptocurrencies, you can purchase Dogecoin with a credit card. You’ll need to open an account on one of the many trading/exchange sites available, open up a crypto wallet and send a bit of money to that account. Once you have money in your account, you can start purchasing Dogecoin – most trading platforms offer Dogecoin as an option, so you shouldn’t have any trouble finding it. Some payment options include:
- Buying directly from Dogecoin merchants
- Spend and buy Dogecoin using a credit card
Payment Options Accepted
You can buy DOGE using a bank deposit, credit card, debit card, P2P Trading, or various third-party payment channels.
How to Spend, Mine, Trade, and Halve Dogecoin
If you want to get started on Dogecoin mining you’ll need to join the Dogecoin network as a singular, individual node. You’ll need to also set up a powerful mining rig (one with top-of-the-range hardware and software) to solve transaction blocks and equations.
Spending Dogecoin is easy as almost every coin trading platform accepts it as a method of payment. Some businesses in the free market also accept Dogecoin, meaning that you might be able to spend it on items that generally require fiat currency..
Dogecoin may seem like a more light-hearted cryptocurrency that can’t really be traded for profit, but that is simply not true. You should buy Dogecoin due to its ever-expanding community, huge abundance and supply, and its availability on many different coin trading platforms.
Without a doubt, the factor that makes Dogecoin so valuable is that it is decentralised, possibly one of the most decentralised cryptocurrencies currently available. Potential investors should also take its Proof-of-Work algorithm and the fact that anyone can mine DOGE, even without complicated, expensive equipment, into account.
We are of the opinion that Dogecoin is perfect for investors unafraid of a little risk. If you’re comfortable with opening a position based on rational hope instead of blind expectation, DOGE may well end up providing hugely positive returns.
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