What is Dogecoin? How to buy Dogecoin?
I believe that investors who are concerned about cryptocurrencies have heard the term Dogecoin,
or may have heard news of its sharp rise or fall on the news.
Mr. Market will come to discuss with you this time,
what exactly is Dogecoin and what is the price trend? And what is the difference between Dogecoin and Bitcoin?
What is Dogecoin?
Dogecoin (English: Dogecoin, Taiwan called Dogecoin, Dogecoin) is a peer-to-peer P2P and open source virtual currency.
When Dogecoin was launched in December 2013, it used a Shiba Inu meme as its image logo (as shown below), so it was called Dogecoin.
The seemingly joke Dogecoin still has the advantages of a blockchain cryptocurrency.
Dogecoin uses the same algorithmic technology as Litecoin,
and what makes Dogecoin different from other cryptocurrencies is its relatively low price and unlimited supply.
The founder of Dogecoin, Jackson Palmer,
was originally intended to satirize the hype of Bitcoin . In 2013, he created Dogecoin Dogecoin marked with Shiba Inu Mystery,
which was then actively touted on social media. The
founder Palmer even purchased the domain name of dogecoin.com, which also became the origin of Dogecoin.
At the same time, Palmer worked with another founder, Billy Markus, on the technical development of Dogecoin.
Dogecoin uses the same Scrypt algorithm technology used by Litecoin to exchange computing power for virtual currency rewards.
The two finally worked together to officially launch Dogecoin on December 6, 2013,
and positioned themselves as a "fun version of Bitcoin". Two weeks after its launch (12/19), Dogecoin even skyrocketed. 300%.
What can Dogecoin do?
In the early days of its creation, Dogecoin was often used for tipping and tipping in foreign forums (such as Reddit) because of its low value.
However, the popularity of Dogecoin is getting higher and higher. From shopping to online payment, more than 1,400 stores around the world support Dogecoin as a payment currency. For details, please refer to cryptwerk .
In addition, in 2020, Mastercard and Bitcoin payment service company BitPay will jointly launch the BitPay card as a virtual currency payment tool in the United States, and BitPay will also support Dogecoin in March 2021, representing a consumption place that accepts MasterCard , can be paid in Dogecoin as a currency; but this service is currently only available in the United States, and users in Taiwan will have to wait for it.
What is the difference between Dogecoin and Bitcoin?
From Dogecoin to adopting the same Scrypt technology as Litecoin, it
is not difficult to correspond to the original intention of wanting to improve (or ridicule) Bitcoin.
Dogecoin's block reward and block generation time
are more efficient than Bitcoin, and the purpose is to improve the disadvantage of Bitcoin's computing power that requires a lot of energy;
The second is the unlimited number of virtual currencies. Dogecoin is issued in large quantities at a rate of 5% per year;
it is to use a large number of virtual currency issuances to reduce the risk of Bitcoin being easily manipulated due to its 21 million issuance limit. .
How is the price of Dogecoin going?
In fact, Dogecoin's large circulation and easy mining characteristics make the initial price of Dogecoin not high;
also rose and fell during the Crypto bubble in 2017-18, when Dogecoin was at its heyday The highest traded at $0.018 with a market cap of over $2 billion.
And what really made Dogecoin famous is because of Tesla founder Elon Musk.
In February 2021, Musk began tweeting several posts in support of Dogecoin, and even said in April that he would bring a physical Dogecoin to the moon.
The repeated postings not only made the Dogecoin trading price continue to rise,
but also made Dogecoin the fourth largest cryptocurrency in the world from a joke at the beginning.
Is investing in Dogecoin risky?
The answer to this question is definitely yes.
Based on the cryptocurrency nature of Dogecoin and the technical characteristics of Scrypt,
investing in Dogecoin mainly involves the following risks:
Dogecoin investment risk 1 : The price fluctuates greatly
The price of cryptocurrencies is susceptible to large fluctuations due to demand-side factors,
But at the same time, it is also susceptible to violent ups and downs due to policy and emotional factors (for example, Musk can control the rise and fall of Dogecoin with a single word),
Therefore, before investing in Dogecoin, be aware that it is a speculative commodity.
Dogecoin Investment Risk 2 : Trading Process Risk
Dogecoin's trading method can find Dogecoin players to trade privately (point-to-point), but in addition to the risk of price difference in self-trading, it is also possible that the counterparty does not give money or currency during the transaction.
In addition, choosing a cryptocurrency trading platform may also lead to hacking, or malicious closures and other factors, resulting in losses to investors.
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What is Dogecoin and how to buy it? Mr. Market takes you to understand Dogecoin
2021.07.22 virtual currency investment
Last update: 2021-10-15
How to buy Dogecoin - what is it
What is Dogecoin? How to buy Dogecoin?
I believe that investors who are concerned about cryptocurrencies have heard the term Dogecoin,
or may have heard news of its sharp rise or fall on the news.
Mr. Market will come to discuss with you this time,
what exactly is Dogecoin and what is the price trend? And what is the difference between Dogecoin and Bitcoin?
Let people who are interested in Dogecoin have a more comprehensive understanding.
In this article, Mr. Market will tell you:
What is Dogecoin?
What can Dogecoin do?
What Mr. Market readers are saying about Dogecoin
What is the difference between Dogecoin and Bitcoin?
How is the price of Dogecoin going?
Is investing in Dogecoin risky?
How to buy Dogecoin?
Quick Highlights: What is Dogecoin?
After reading the introduction of Dogecoin, how would you evaluate Dogecoin?
What is Dogecoin?
Dogecoin Basic Information
Dogecoin_Logo
currency symbol Ð
currency code DOGE
founder Billy Markus, Jackson Palmer
release date 2013.12.06
Circulation number 129.75 billion sheets (2021.05)
Official website https://dogecoin.com/
Data Arrangement: Mr. Market
Dogecoin (English: Dogecoin, Taiwan called Dogecoin, Dogecoin) is a peer-to-peer P2P and open source virtual currency.
When Dogecoin was launched in December 2013, it used a Shiba Inu meme as its image logo (as shown below), so it was called Dogecoin.
Dogecoin logo
The seemingly joke Dogecoin still has the advantages of a blockchain cryptocurrency.
Dogecoin uses the same algorithmic technology as Litecoin,
and what makes Dogecoin different from other cryptocurrencies is its relatively low price and unlimited supply.
The founder of Dogecoin, Jackson Palmer,
was originally intended to satirize the hype of Bitcoin . In 2013, he created Dogecoin Dogecoin marked with Shiba Inu Mystery,
which was then actively touted on social media. The
founder Palmer even purchased the domain name of dogecoin.com, which also became the origin of Dogecoin.
At the same time, Palmer worked with another founder, Billy Markus, on the technical development of Dogecoin.
Dogecoin uses the same Scrypt algorithm technology used by Litecoin to exchange computing power for virtual currency rewards.
The two finally worked together to officially launch Dogecoin on December 6, 2013,
and positioned themselves as a "fun version of Bitcoin". Two weeks after its launch (12/19), Dogecoin even skyrocketed. 300%.
What can Dogecoin do?
In the early days of its creation, Dogecoin was often used for tipping and tipping in foreign forums (such as Reddit) because of its low value.
However, the popularity of Dogecoin is getting higher and higher. From shopping to online payment, more than 1,400 stores around the world support Dogecoin as a payment currency. For details, please refer to cryptwerk .
In addition, in 2020, Mastercard and Bitcoin payment service company BitPay will jointly launch the BitPay card as a virtual currency payment tool in the United States, and BitPay will also support Dogecoin in March 2021, representing a consumption place that accepts MasterCard , can be paid in Dogecoin as a currency; but this service is currently only available in the United States, and users in Taiwan will have to wait for it.
What Mr. Market readers are saying about Dogecoin
WHAT OTHER PEOPLE SAY 22
leave your rating
Order by:
Most recent
2022-04-01, 13:34:50
safety3
Currency Stability5
Investment value and growth5
Am I willing to hold it long term?5
2022-02-11, 09:35:28
safety2.5
Currency Stability3
Investment value and growth4
Am I willing to hold it long term?4.5
2022-02-02, 17:42:28
safety3
Currency Stability1
Investment value and growth2
Am I willing to hold it long term?2
SHOW MORE
(You can also cast your dog rating at the end of this article after reading the introduction)
What is the difference between Dogecoin and Bitcoin?
From Dogecoin to adopting the same Scrypt technology as Litecoin, it
is not difficult to correspond to the original intention of wanting to improve (or ridicule) Bitcoin.
Dogecoin's block reward and block generation time
are more efficient than Bitcoin, and the purpose is to improve the disadvantage of Bitcoin's computing power that requires a lot of energy;
The second is the unlimited number of virtual currencies. Dogecoin is issued in large quantities at a rate of 5% per year;
it is to use a large number of virtual currency issuances to reduce the risk of Bitcoin being easily manipulated due to its 21 million issuance limit. .
Mr. Market compares Dogecoin and Bitcoin in the following table:
Dogecoin vs. Bitcoin
Dogecoin bitcoin
release date 2013 2009
founder Billy Markus, Jackson Palmer Satoshi Nakamoto
Maximum number of currencies Unlimited, 5% increase every year 21 million
block generation time 1 minute 10 minutes
Algorithm technology Scrypt SHA-256
Initial block reward 100 Man DOGE 50 BTC
The current block reward 1 Man DOGE 6.25 BTC
Block reward halving time Every 100,000 blocks,
no halving after the 600,000th block every 210,000 blocks
Document arrangement: Market Sensei Mr. Market
Of course, if you are not familiar with some knowledge of Bitcoin, you can also read Mr. Market's teaching:
What is Bitcoin?
What is Bitcoin? What are the risks of investing in Bitcoin?
What is a bitcoin exchange?
Bitcoin Exchange Recommendations
What is the concept of Bitcoin mining?
What Factors Affect Bitcoin Price?
How is the price of Dogecoin going?
The current market value and price trend of Dogecoin are as follows:
Dogecoin market cap courtesy of TradingView
In fact, Dogecoin's large circulation and easy mining characteristics make the initial price of Dogecoin not high;
also rose and fell during the Crypto bubble in 2017-18, when Dogecoin was at its heyday The highest traded at $0.018 with a market cap of over $2 billion.
And what really made Dogecoin famous is because of Tesla founder Elon Musk.
In February 2021, Musk began tweeting several posts in support of Dogecoin, and even said in April that he would bring a physical Dogecoin to the moon.
The repeated postings not only made the Dogecoin trading price continue to rise,
but also made Dogecoin the fourth largest cryptocurrency in the world from a joke at the beginning.
Is investing in Dogecoin risky?
The answer to this question is definitely yes.
Based on the cryptocurrency nature of Dogecoin and the technical characteristics of Scrypt,
investing in Dogecoin mainly involves the following risks:
Dogecoin investment risk 1 :
The price fluctuates greatly
The price of cryptocurrencies is susceptible to large fluctuations due to demand-side factors,
But at the same time, it is also susceptible to violent ups and downs due to policy and emotional factors (for example, Musk can control the rise and fall of Dogecoin with a single word),
Therefore, before investing in Dogecoin, be aware that it is a speculative commodity.
Dogecoin Investment Risk 2 :
Trading Process Risk
Dogecoin's trading method can find Dogecoin players to trade privately (point-to-point), but in addition to the risk of price difference in self-trading, it is also possible that the counterparty does not give money or currency during the transaction.
In addition, choosing a cryptocurrency trading platform may also lead to hacking, or malicious closures and other factors, resulting in losses to investors.
Although Mr. Market only listed the above 2 points of Dogecoin investment risks, he still cannot help but remind again,
Although Dogecoin has experienced a stormy rise recently, this type of speculative product is quite risky. Please be aware of this before investing.
In fact, even Musk reminded Dogecoin investors on Twitter that they must invest with caution.
How to buy Dogecoin?
There are many ways to buy Dogecoin. Here is a list that is more suitable for ordinary people to get started:
1. Buy and sell through virtual currency exchanges
Through a virtual currency exchange, it is currently the safest way for ordinary people to hold Dogecoin.
Choosing a trusted virtual currency exchange will be much safer and cheaper than trading with strangers on the Internet.
Choosing a Dogecoin exchange is also very simple, just choose from the
largest ones in the world. Here is a list of the world's largest virtual currency exchanges.
2. Buy and sell through foreign exchange dealers
Trading through foreign exchange dealers does not actually hold Dog
ecoin, but a contract for difference (CFD) of Dogecoin.
This trading method generally has slightly higher transaction costs and holding costs, and can also support leveraged trading (it is strongly recommended that novices do not use leverage).
Most virtual exchanges only provide virtual currency transactions, and do not provide other financial products such as indices, futures, stocks, etc. When trading, it is also necessary to exchange legal currencies such as Taiwan dollar and US dollar for virtual currency as the main currency in the exchange,
but use foreign exchange dealers. At the time, the US dollar was still used as the main currency, and there was no need to exchange virtual currency.
However, foreign exchange traders are not actually suitable for long-term holding of virtual currencies such as Dogecoin.
It is suitable for people who do not want to hold Dogecoin, but want to speculatively buy low and sell high for short-term operations.
Most foreign exchange dealers have CFD products that offer Bitcoin, and you can use your favorite dealer to find the corresponding product and operate.
