What Is Dogecoin, Anyway? Find Out About This Popular Cryptocurrency
From Redditors manipulating GameStop’s stock to NFTs that sell for millions, it’s hard to keep track of the latest digital finance fads. In other words, if you’re feeling lost among the latest online trading strategies, you can be forgiven for your confusion!
If you’ve checked the news recently, you may already know that one of today’s biggest financial trends is gaining traction fast: the humble dogecoin. This quirky but popular cryptocurrency has found fans in celebrities like Elon Musk as well as countless online users.
But what is dogecoin, anyway, and how can you get in on the trend? Here’s what you should know about this up-and-coming cryptocurrency.
What Is Dogecoin?
Based on a popular meme, dogecoin started out in 2013 as a satire. IBM programmer Billy Markus and Adobe engineer Jackson Palmer created the cryptocurrency, at least in part, to poke fun at the avid fans of other altcoins. Using the popular meme helped the coin gain traction in the same year.
However, today’s dogecoin isn’t a joke anymore. Instead, it has a cult following that includes household names like Elon Musk, whose popular tweets continue to make the cryptocurrency spike in popularity.
As you’d expect, dogecoin works in the same way many other altcoins do. If you’re familiar with bitcoin and other popular cryptocurrencies, you already know how it works: you can buy and sell dogecoin just like you would a stock, and you can even spend it in the same way you’d spend money.
However, it’s worth noting that dogecoin is anonymous, open-source, “mined” independently, and decentralized—meaning that no bank or government backs it. In addition, unlike bitcoin’s finite 21 million coins, dogecoin has 129 billion and growing, which is one reason its valuation is far less than its more popular relative.
How to Buy Dogecoin
If you’re new to cryptocurrency, the act of buying dogecoin may feel like a bit of a mystery, as it isn’t done in the same way you’d buy a traditional investment.
You’ll need to sign up with a digital asset platform, sometimes called a “wallet,” to manage your cryptocurrency. There are many apps and platforms when it comes to where to buy dogecoin, but you’ll want to make sure the software you’re using is secure and reliable. If you’re looking for the best choice, it’s easy to buy and sell dogecoin here, in addition to other cryptocurrencies.
Start Trading This Popular Cryptocurrency Today
Whether you’re looking to hop onto the latest meme-inspired financial trend, or you want a popular cryptocurrency that’s both anonymous and open source, dogecoin is a great place to start. Do your research and invest wisely, working with a reputable digital asset platform to see success!
Looking for more helpful guides to the latest trends? Our other posts are packed with helpful insights, so check them out to learn more.