A Brief Guide To The Dogecoin Crytpocurrency
When people think of cryptocurrencies, they tend to think of the top ones, such as Bitcoins, Ethereum and Litecoin to name a few. The Dogecoin crytpocurrency is often not given much thought, but there are a few reasons people should keep an eye on it. If you want to know what Dogecoin is, reasons to keep an eye on it and how to buy it.
What Is Dogecoin crytpocurrency
Dogecoin is a cryptocurrency that was set up by Billy Markus and Jackson Palmer. The digital currency was inspired by an internet meme and it was a parody currency. However, ever since its creation in 2013, Dogecoin has become insanely popular and has skyrocketed in value. The currency is described as being favored by Shiba Inus and it is a peer-to-peer digital currency that is open source.7
What is Dogecoin used for
Like Bitcoin and other digital currencies, Dogecoin can be used to buy services. It can also be used to buy goods. It can also be traded for digital currencies and fiat currency, such as USD and CAD, for example.
Reasons To Keep An Eye Dogecoin
Why should you keep an eye on Dogecoin? There are many reasons. The top reasons include:
1. Newbie Friendly- Dogecoin is newbie friendly and it’s a great way for beginners to become acquainted with cryptocurrency. The digital currency can easily be exchanged and it’s very liquid when you compare it to other assets that don’t cost a lot of money. Best of all, Dogecoin is similar many large coins in terms of transfer utility.
2. Growth Potential- Dogecoin has a lot of growth potential. Currently, Dogecoin is 36 on CoinMarketCap and the capitalization is around $395 million. Dogecoin is affordable to buy and the outlook looks good. If you want to dip your feet into cryptocurrency trading and use something beginner-friendly, then look no further than Dogecoin.
3. Popular With Investors In Asia- Dogecoin is extremely popular with Asian investors. In fact, it has some major investments from Japan and Korea. As it increases in popularity in Asian countries, Dogecoin’s value is expected to continue to increase.
4. It Is Likely Not Going Anywhere- Many digital currencies come and go and never heard of again. Dogecoin is different and it has proven to be extremely resilient, even if it was created as a joke. Dogecoin has outlasted many other digital assets that were heavily promoted. If you want to invest in a digital coin that is likely not going anywhere and one that has proven to be resilient and one that will likely continue to increase in value as the years go by, then consider investing in Dogecoin.
Those are only a few reasons to invest in Dogecoin. You never know when it will soar in price. If you invest in it today and the price eventually soars, you will be glad you did.
How To Buy Dogecoin
Buying and using Dogecoin is actually very easy and the process is straightforward. Just like you would with other digital currencies, you need a digital wallet, an account with a crypto exchange platform and then you can trade it. After you set an account with an exchange that allows Doge trading/buying, then you can deposit funds. Once this is done, you can start trading Dogecoin. There are some more advance methods like Paypal to Doge.
The main thing you’ll do is use the funds you deposited to buy another one. For example, if you put $200 into your account, you can trade it. You can do Doge/USD pair or whatever other currency pairs the exchange platform allows.
Is Dogecoin crytpocurrency worth investing in? The answer is it depends on who you ask, but it is worth taking a closer look at. Now you know more about what Dogecoin is, reasons to keep an eye on it and how to buy it.