No matter who and where you are from, you have undoubtedly heard the name dogecoin that has taken the internet since Elon musk tweeted about it. Yeah, the same dogecoin whose price shot when everyone started buying it, and even hundreds of people made millions of dollars from it. We know that there is some curiosity in you about dogecoin that’s why today I have decided to talk about Dogecoin Cryptocurrency For Beginners 2021. You certainly don’t want to miss it because we for sure have some interesting details about Dogecoin in this article.
1.What is Dogecoin?
Started as a meme in 2013, it created some storm on the internet at that time. Dogecoin stayed hidden until 2020 when Elon Musk tweeted about it. Now the total worth of dogecoin that is in circulation is incredibly 50 billion dollars which are not bad for a cryptocurrency that was just created as a meme. Dogecoin stands as the fifth most valuable cryptocurrency on the market. Dogecoin’s value has increased more than six thousand percent this year, thanks to Elon Musk and a few people who just bought every single dogecoin in the market. Its price doubled when Elon Musk tweeted about it and it created a shortage of dogecoins in the market. Even some trading systems just crashed due to the high number of transactions.
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2.Why dogecoin is in the first place?
To put it in simple words Dogecoin is one of the easiest and fastest methods or cryptocurrencies. You can buy or sell Dogecoin like an investment. Even you also get the perks to spend it like money or transfer it like funds to anyone you want in just seconds. Dogecoin like all other cryptocurrencies allows you to make safe and quick transactions. Sometimes even faster than bitcoin. Dogecoin has many incredible qualities over bitcoin that make it unique.
If we mention the total numbers of dogecoins in the market, it blows our mind to know that there are about 129 billion coins in circulation. If we compare the number with bitcoin that has about 21 million coins in circulation. We can have a rough guess about why the price of bitcoin is way higher than dogecoin. You have to understand that, the fewer the things are in the market the higher is their price and once the number of things increases the price starts to decrease as the supply is bigger.
What’s more interesting to know about dogecoin is that its numbers are continuously increasing. Every day as more and more miners are mining them, we have seen that you can buy different things from the internet using cryptocurrencies. You can even buy tesla cars by paying in bitcoins. But currently, you cannot buy goods using dogecoin due to their less acceptance as money in the market. As it’s getting more popular it will soon be accepted in more and more online stores.
Visit the official website of Dogecoin.
3.How does dogecoin work?
Like all other cryptocurrencies, dogecoin runs on blockchain technology. The blockchain is a type of technology that allows transactions to be safe like never before. Only the person owning the coin or simply the data can make changes and no one else. Also hacking becomes impossible as the data is stored in millions of places all around the world. Progressively more Dogecoins are added to the market by miners every day and in return for the mining, they earn dogecoins.
– The easiest way to buy a dogecoin is to create a wallet and then use one of the reliable exchangers. Remember that you will need to own bitcoins or other cryptocurrencies that will be exchanged to doge.
– Dogecoin has various safety levels and is almost irresistible to hacking.
-The Dogecoin community is different from other cryptocurrency holder communities. They strongly believe in doge’s bright future and are sure that one day doge will go to greater heights.
-Dogecoin is widely represented in social media such as Twitter and TikTok. In summer 2020, the dogecoin TikTok challenge popped up encouraging people to invest in this cryptocurrency. However, the biggest support of dogecoin is for sure Elon Musk and his constant tweets.
Did you start investing in it to make some real cash, well that depends on many things. There is no doubt that dogecoin has increased in value like never before. But it is always very difficult to predict the market. However here is a very interesting tip for you, if you want to know how and when you should invest in dogecoin. You must have some news about the market and for that reason don’t forget Elon Musk since he is the only one who can take and probably will take dogecoin to the moon.
Therefore I hope this article -Dogecoin Cryptocurrency For Beginners 2021 gave you an insight into dogecoin.