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What is Dogecoin?

 Dogecoin

Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees. Dogecoin features the face of the Shiba Inu dog from the "Doge" meme as its logo and namesake. It was introduced on December 6, 2013, and quickly developed its own online community reaching a market capitalization of US $5,382,875,000 as on January 28, 2021.

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Dogecoin is a fun, new and rapidly growing form of digital currency. This form of digital currency is called "cryptocurrency"; a type of digital currency. Cryptocurrency is completely anonymous, decentralized, and extremely secure.

Dogecoin is used with a wallet on your computer, your smartphone, or a website. You can use it to buy goods and services, or trade it for other currencies (both other cryptocurrencies or traditional fiat currency like US dollars).

One of the most popular uses for Dogecoin is "tipping" fellow internet-users who create or share great content. Think of it as a more meaningful "like" or upvote, with real value that can be used all across the internet.

How to start using Dogecoin ?

It is very easy to start using Dogecoin.

Step 1: Get A Wallet. (Mobile wallet-Android, iOS or Desktop Wallet)

Step 2: Get Some Dogecoin.

Also Read: How to earn Dogecoins?

Step 3: Use Your Dogecoin.

Step 4: Stay Up-to-Date.


The fun and friendly internet currency.

Dogecoin sets itself apart from other digital currencies with an amazing, vibrant community made up of friendly folks just like you.

Doge Timeline

December 6, 2013

Dogecoin was co-founded by IBM software engineer Billy Markus from Portland, Oregon and Adobe software engineer Jackson Palmer, who set out to create a peer-to-peer digital currency that could reach a broader demographic than Bitcoin

December 19, 2013, Dogecoin jumped nearly 300 percent in value in 72 hours, rising from US$0.00026 to $0.00095, with a volume of billions of Dogecoins per day. This growth occurred during a time when Bitcoin and many other cryptocurrencies were reeling from China's decision to forbid Chinese banks from investing into the Bitcoin economy.Three days later, Dogecoin experienced its first major crash by dropping by 80% due to this event and to large mining pools exploiting the small amount of computing power required at the time to mine Dogecoin

December 25, 2013, the first major theft of Dogecoin occurred when millions of coins were stolen during a hack on the online cryptocurrency wallet platform Dogewallet. The hacker gained access to the platform's filesystem and modified its send/receive page to send any and all coins to a static address

January 2014, the trading volume of Dogecoin briefly surpassed that of Bitcoin and all other crypto-currencies combined, however, its market capitalization remained substantially behind that of Bitcoin

In April 2015, Jackson Palmer announced he is taking an "extended leave of absence" from the cryptocurrency community

During 2017 to early 2018 Cryptocurrency bubble, Dogecoin briefly reached a peak of $0.017/coin on January 7, 2018, putting its total market capitalization near USD 2 billion.

In July 2020, the price of Dogecoin spiked following a TikTok trend aiming to get the coin's price to $1.

In January 2021, Dogecoin went up over 800% in 24 hours as a result of attention from Reddit users, partially encouraged by Elon Musk and the GameStop short squeeze. In February 2021, Dogecoin hit its all-time high price following Twitter encouragement from Elon Musk, Snoop Dogg and Gene Simmons

Where Can I Buy Dogecoin? 

Convinced that Dogecoin is set to go to the moon – or even a dollar? The next step is to figure out how to go about actually purchasing some. There are some ways to purchase Dogecoin with fiat currency, such as the US dollar, but you will often need to buy using Bitcoin through an exchange. Dogecoin at Crypto Exchanges Most traders purchase Doge using an exchange, like Coinbase


This involves buying cryptocurrency with fiat currency and storing them in a virtual wallet. Coinbase is available in 40+ countries, and is both one of the world’s most popular exchanges and one of the easiest ways to get get started with crypto. While this approach is common it is not without risks, and you must do your own research and select a reputable exchange. Here’s a list of popular cryptocurrency .

Get Dogecoin wallet from Binance

Similarly You can exchange your money in any P2P platforms.P2P stands for Peer-to-Peer. All traders on CryptoLocally enjoy a p2p trading experience. Each user can trade cryptocurrencies person to person, thus the transaction is completely based on your preference. Both traders can easily set the payment method and location, and communicate with each other to successfully finish the trade.

Popular P2P Platofrms

Cryptolocally

Localbitcoins

 






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