Dogecoin (DOGE) has it’s fair share of critics. Some say it’s simply a fun cryptocurrency, while others are quick to point out its “joke” value. Regardless of what you think about Dogecoin, there’s no denying the impact it’s already had on the world of cryptocurrency.
There aren’t many altcoins in existence with a fanbase that continuously celebrates its cryptocurrency-based joke currency status and its ability to grow steadily in value over time.
This makes Dogecoin an incredibly popular choice among cryptocurrency investors looking for exposure to rising asset values without actually buying them.
If you’re looking to get into cryptocurrencies but don’t know where to start, you’re in luck! Today we’re going to take you through exactly why you should support Dogecoin if you believe other altcoins can learn from its success story and avoid its pitfalls.
What is Dogecoin?
Dogecoin is a peer-to-peer digital currency that uses an open source blockchain technology. The coins are distributed without a central authority or central bank.
No one person or company controls the associated blockchain. Instead, it’s shared and managed by a network of thousands of computers around the world, enabling it to be used as a virtual currency.
While the origins of Dogecoin are unclear, it quickly became a household name in 2014, due to its heavily-publicized “joke” status. Dogecoin was created as a promotional campaign by the believers who managed the online Shiba Inu online forum.
Dogecoin was created as a joke cryptocurrency, and it continues to be based on this humor. One of the forum’s moderators, Jackson Palmer, created the original idea for Dogecoin, and it took off thanks to the enthusiasm of its early adopters.
How Does Dogecoin Work?
Dogecoin is a Peer-to-Peer Electronic Cash System based on its predecessor, Bitcoin. One of the unique features of Dogecoin is the ability for users to create their own digital currencies using its code.
Users can create their own digital coins and trade them on the Dogecoin blockchain and the “virtual market” run on a number of websites. Dogecoin can be used as a decentralized digital currency, or it can be used to buy products and services.
One of the main use cases for Dogecoin is tipping and giving rewards to others for great service or content. All you have to do is provide the link to the person you want to tip and the amount you want to reward, and your favorite cartoon character will do the rest.
This is also a great way for business owners and other professionals who offer services or products to other people to get involved in the community and promote their brand.
Why Explore Dogecoin?
One of the best benefits of Dogecoin is that it doesn’t try to impress you with fancy features and tricks. It just works, and it works really, really well. All you have to do is open a channel on the Dogecoin blockchain, and you’ll be rewarded with DOGE.
Easy as that. Dogecoin’s team is doing everything they can to improve the platform. They are constantly adding new features and fixing bugs. So far, they have added a peer-to-peer payment system, a smart contract system, and a web wallet.
One of the biggest issues that people face when they try to use a new cryptocurrency is getting used to its various functions and features.
Most cryptocurrencies are pretty similar in their basic functions, so it can be hard to distinguish one from another. Dogecoin is one of the few that allows you to differentiate between its various features.
Can Dogecoin do Anything Else?
If you’re lucky enough to get your hands on a piece of Dogecoin stock, then you’re in for a real treat. Those who purchase a small amount of Dogecoin at one point in time are actually getting in on a great long-term strategy.
The best part about purchasing a small amount of Dogecoin at a time is that it gives you the opportunity to get involved in a real-world project. You get to experience the exhilaration of being a part of something new and exciting.
Based on the success of Dogecoin and other similar digital currencies, it’s no wonder that investors are flocking to the market. If you’re one of them, we hope this guide helps you understand what you should watch out for and what to expect from this community-driven investment boom.