Who invented Dogecoin?
Jackson Palmer and Billy Markus created Dogecoin.
Dogecoin was born as a concept in 2013 and introduced in December 2013 by engineers Jackson Palmer and Billy Markus.
Prior to founding Dogecoin, the two engineers had reportedly never met in person.
How can I buy Dogecoin?
There are several ways to get Dogecoin, including tips for the Dogecoin community and how to mine them.
However, you can also buy and trade Dogecoin on crypto exchanges that support Dogecoin.
There are numerous crypto exchanges that support buying and selling Dogecoin.
Based on 24-hour volumes, WenX Pro, Binance, and CoinDCX have the largest 24-hour Dogecoin / USDT trading volume at the time of writing.
Other popular exchanges that support buying and selling Dogecoin include:
When choosing a suitable exchange to buy Dogecoin, one of the deciding factors must be trading volume.
There are also a number of other factors to consider when choosing an appropriate replacement. These include:
- Jurisdiction: Make sure you find an exchange that supports your jurisdiction and language.
- Exchange security: If you look at the cases of exchange hacks in the not-too-distant past, 2FA should be a minimum requirement if you want to keep your Dogecoin on an exchange.
- Exchange functions: For those looking to do more than just buy and hold, access to trading indicators and risk management controls including stop loss would be a consideration.
- Trade pairings: For those who want to buy with fiat money, the option of depositing fiat or buying with fiat money is important. Not all exchanges support crypto purchases with fiat money.
- Exchange fees: Fees vary significantly between exchanges. This becomes a bigger consideration for those looking to buy and sell Dogecoin more frequently.
- Platform customer support: It is always important to have access to customer support to help with problems.
With that in mind, WenX Pro has the largest 24-hour DOGE / USDT trading volume at $ 360.16 million
A distant 2nd and 3rd by volume are Binance ($ 149.81 million) and CoinDCX ($ 149.70 million), according to Coinranking.com.
For many, Binance may be the exchange of choice just because of its market position and the size of its global network.
When trading cryptos, significant daily volatility means liquidity must be a deciding factor in limiting slippage.
Before you sign up for an exchange to buy your Dogecoin, you’ll need a Dogecoin wallet.
To get started, just:
- Get a Dogecoin compatible wallet.
- Buy some Dogecoin.
- Use your Dogecoin.
- To stay updated.
You can download a Dogecoin wallet for desktop or smartphone from the Dogecoin homepage.
For your desktop, you can choose a wallet for Windows, OS X, or Linux.
We recommend that you keep all Dogecoin purchased in your personal Dogecoin wallet.
Once you have your Dogecoin wallet, log into an exchange supported by Dogecoin and buy your Dogecoin.
What can I buy with Dogecoin?
The main uses of Dogecoin are currently:
- Purchase of goods and services.
- Tip in the Dogecoin community.
- Charitable donations.
For those who want to buy goods with Dogecoin, there are numerous merchants who accept Dogecoin.
Dogecoin holders can purchase a wide range of goods ranging from cars to precious metals.
One of the most famous companies that accepts Dogecoin is the US NBA franchise Dallas Mavericks.
In early 2021, the owner of Dallas Mavericks said it had completed more than 20,000 #dogcoin transactions. Mark Cuban’s NBA franchise had become the largest Dogecoin dealer in the world.
What’s the matter with it now?
Its rise to fame has resulted in a far wider adoption of Dogecoin.
In the US, CoinFlip announced in early 2021 that people could buy Dogecoin at 1,800 ATMs in 46 states.
By early 2021, Dogecoin had hit the headlines of the crypto news when more well-known members of the crypto community started clogging Dogecoin.
In contrast to other cryptos like Bitcoin and Litecoin, there are an infinite number of Dogecoins. As a result, Dogecoin will not have the same supply and demand prospects as Bitcoin and Litecoin.
While the endless supply means that the Dogecoin benefit may not be as great as Bitcoin’s, there are benefits too.
The endless supply means that Dogecoin is ideal for smaller transactions.
At the time of writing, DOGE was trading at $ 0.0575. While DOGE was well below its all-time high of $ 0.1004 in January 2021, it retained much of its 2021 profits.
The Crypto Newswires added to the surge in late January and the uptrend for the current year.
Since the start of the year, Dogecoin has surged over 1,000%, and the Dogecoin Shibes were looking for a return to the $ 1 level.
As the community grows and Dogecoin becomes widely accepted, more plugs of the crypto elite would support a return to the $ 1 level.
What are the risks of investing in Dogecoin?
As with any crypto, volatility alone means investors need to trade Dogecoin with caution.
As mentioned earlier, the other problem Dogecoin holders face is the endless supply.
This means that any intrinsic value could be diluted if the crypto market is flooded with more Dogecoin.
As Bitcoin and Litecoin gain market interest, their limited supply remains an attraction that Dogecoin cannot compete with. This creates pressure on owners as the broader market takes hold.
On the technical side, there have been no significant changes to the Dogecoin blockchain in recent years. This means that Dogecoin could also be out of date and lag behind its competitors.
Dogecoin Shibes have been reported to be leaving the Dogecoin community in favor of more up-to-date platforms.
From today’s perspective, the Dogecoin community has been key to price support. The community has raised funds in the past to return funds to those who have been hacked.
Once the community weakens, Dogecoin may lose ground without blockchain improvements.
Why is Dogecoin so popular?
In the early years, Dogecoin’s almost instantaneous popularity was attributed to the lightheartedness of its founders.
While a number of crypto communities battled it, Dogecoin was supposed to be a joke.
More important, however, was undoubtedly the generosity of the Dogecoin community.
The community not only raised funds for various charities and charities, but also raised funds to cover losses from hacked Dogecoin holders.
To this day, the Dogecoin community has been an integral part of Dogecoin’s continued success and popularity.
Celebrities and Dogecoin
A number of crypto celebs have popped up, and 4 in particular have pocketed Dogecoin, which contributed to its $ 1 surge in early 2021.
Elon Musk, Gene Simmons, Mark Cuban, and Snoop Dogg are perhaps the most famous of all.
Elon Musk, CEO of Tesla Motors, single-handedly brought Bitcoin to its current all-time high of $ 61,699 and Dogecoin to its all-time high.
After Tesla Motors bought Bitcoin and accepted Bitcoin as a means of payment, the Dogecoin plug arrived in the middle of the crypto market frenzy
With prominent crypto advocates pocketing Dogecoin, the markets will be looking for new highs.