Dogecoin is designed to be a more user – friendly form of cryptocurrency, which can reach users who have been delayed by the cold complexity of Bitcoin. Like bitcoin, Dogecoin uses a mining system to maintain its blockchain.
Bitcoin is considered to be the gold of the Internet, the silver litecoins, while large amounts of dogecoin are thrown between users without beating. While other cryptocurrencies such as Ethereum are trying to rise above the altcoin label, Dogecoin remains a simple cryptocurrency for small transactions.
Dogecoin was originally designed as a more accessible alternative to Bitcoin, Litecoin and other cryptocurrencies. Let’s look at one of the most unique cryptocurrencies – Dogecoin and find out where and how to buy Dogecoin.
Dogecoin is a cryptocurrency like Bitcoin, except that it has a friendly logo. Unlike Litecoin ( where the algorithm of the cryptocurrency is based on the Scrypt algorithm ), Dogecoin’s block time is 1 minute compared to the 2. 5 litecoins – allowing for faster transactions and confirmations. While other coins tend to encourage hoarding and saving, Dogecoin users continuously donate to different causes ( charity ) and to each other ( tilting ).
Dogecoin creator tried to solve the problem by making sure that miners would always be rewarded with new doge and therefore there would always be an incentive to mine more coins. Dogecoin is a cryptocurrency, and like all cryptocurrencies, it is very volatile and prone to large increases and large dips.
It is used in charity and online voting, you can exchange it for other altcoin or Bitcoin, which is much more difficult to buy or mine compared to Dogecoin. Dogecoin’s problem is not limited, so the coin may suffer from inflation and may not cost a fortune.
How to buy Dogecoin:
Users can buy Dogecoin for fiat money or other cryptocurrencies in many popular digital markets such as Bittrex, Kraken, Poloniex, Coinbase, CEX. From Ethereum to Bitcoin and even a host of other smaller cryptocurrencies, you can buy Dogecoin with one of them.
Buying a Dogecoin can be a bit difficult if you are not used to buying cryptocurrency. Buying Dogecoin with USD is limited to a few exchanges while it is easier to buy DOGE with Bitcoin or other cryptocurrencies and stablecoins such as USDT.
If you are in investment and speculation, you can play the game of Dogecoin by buying lows and selling high against other cryptocurrencies. Whether you believe in digital coins as a currency of the future or simply want to know more about the entire cryptocurrency movement, Dogecoin is a fantastic first currency.
If it’s not your style, the easiest way to have your first Dogecoin is to get it from a tap.
Mining is when you use your computer to process other people’s Dogecoin transactions and in return you get Dogecoin. In 2018, Dogecoin saw an increase in value as traders poured money into cryptocurrency.
There are reports that the Dogecoin Dev team is considering returning and making changes, but there is no guarantee because they are basically working on cryptocurrency in their free time.
Dogecoin is designed to maintain a constant supply of about 1 billion, it is excellent for cash and makes it easy to obtain coins, but it also means that there is not much incentive to pay in large amounts of coins.
There are not many ways to easily buy Dogecoin with fiat currency, so it is best to exchange it for Bitcoin with an exchange.