Menu Close

Dogecoin | Dogecoin explained completely

Dogecoin explained

It sounds like a joke based on the popular meme “Doge”, although it is totally real. This is a cryptocurrency with a true value with which you can acquire goods and services on the Internet. And best of all, its price is growing day after day.

Next, we will explain what Dogecoin is, where to get it and what its main characteristics are.

what is Dogecoin and what is its use?

Dogecoin is a virtual currency that was born in 2013 as a joke. This badge is based on the popular Internet meme “doge”, which shows a Shiba Inu breed dog with funny phrases.


Dogecoin grew beyond the joke to become a serious cryptocurrency. Today, many people and businesses around the world accept it as a form of payment, so much so that at the moment it has a market capitalization of more than 300 million dollars and a transaction volume of more than 17 million dollars.

READ  Crypto Currency Training Free

This currency resembles bitcoin, although there is a fundamental difference: the speed of confirmation of transactions. In the cryptocurrency world, “miners” are the ones who confirm that a transaction has been made. The process varies on each platform, although in the case of bitcoin it can take between 10 minutes and 1 hour. In the transaction of Dogecoin, the confirmation takes place in just 1 minute.

Despite its popularity, Dogecoin remains a relatively unknown currency. If you want to invest in this currency, it is a good idea to find out how to get Dogecoin and make the corresponding investment.

How to earn Dogecoin

If you already know that they are Dogecoin, see below the best methods that exist to invest.

Mining

An option that is at your fingertips right now is Dogecoins mining. Since this is a coin in its initial stages, you don’t need a powerful team to get them; a standard desktop computer is enough to do the homework.

“Mining” basically consists of leaving your computer on so that it fulfils certain tasks. As a reward for fulfilling them, you will receive a certain amount of Dogecoins from time to time.

Faucets

Faucets are websites that give away Dogecoins. All you have to do is create an address, enter the website and request them. That’s it!

Two of the best-known facets are:

  • DogeFaucet
  • InDogeWeTrust
READ  France TO Block Development Of Facebook's Libra Digital Currency In Europe

Participate in the Dogecoin community

A good way to achieve this cryptocurrency is simply by actively participating in the Dogecoin community. Depending on the participations you make, you will receive tips from Dogecoin that you can spend on whatever you want.

You can enter the Dogecoin community through this link.

Exchange centres

Finally, an alternative to get Dogecoin is by buying them directly with traditional currencies or other cryptocurrencies. Keep in mind that on some exchange sites you can also transform Dogecoin into money if you are looking to change your cryptocurrency to a more user-friendly medium.

Some of the best-known sites to exchange Dogecoins are:

  • Snap card – This is a website that offers a fancy solution to buy Dogecoin. On this site, you can create your Dogecoin address, download a wallet and make a bank transfer. Before using this option, be sure to find out how much a Dogecoin is worth.
  • WeSellDoges: WeSellDoges is another portal where you can buy Dogecoin safely and immediately. The great advantage of this site is that it specializes in cryptocurrency, so you will find quality customer service and different payment options.
  • ExchangeMyCoin: If you have other cryptocurrencies, such as bitcoin or litecoin, you can exchange them on ExchangeMyCoin. On this website, you will not find options to buy Dogecoins with traditional currencies such as the dollar or the euro, although it is the best option to exchange virtual currencies.
  • Changelly: Changelly is a platform where you can buy cryptocurrencies with Visa and MasterCard cards. It is one of the best options due to the wide distribution that these cards have. At Changelly you can buy Dogecoins.

Before choosing any of these platforms, find out in each of them how much Dogecoin costs and make the comparison. Dogecoin is a decentralized currency, which means that its value is not given by any government or central bank. This makes the price of Dogecoin vary according to the exchange centre you decide to use.

 

READ  How To Move Plug-ins Into WordPress Without Installing Them
READ  How To Decrypt Bitlocker Using Command Prompt

error

Enjoy this blog? Please spread the word :)

%d bloggers like this: