What is Dogecoin (DOGE)? And how can I buy it? Its advantages and disadvantages? Apart from etc., you will get to know much more in this post, so you must read this post till the end {NPRBG}:-
Table of Contents:-
What is Dogecoin (DOGE)?
Dogecoin is a digital currency, which is completely different from currency because Dogecoin cannot be touched or seen like coins and notes. We can only buy and sell or trade Dogecoin online.
Dogecoin, like other cryptocurrencies, is a digital currency that you can trade online. Dogecoin was started as a joke in 2013 by software engineers Billy Markus and Jackson Palmer.
Who started Dogecoin?
Dogecoin was started by Billy Markus and Jackson Palmer in 2013. And both are software engineers. He started Dogecoin jokingly, which has become the currency of billions today.
Peer-to-Peer Transaction was started by Billy Marcus and Adobe Engineer Jackson Palmer. Instead of choosing a fancy emblem for DodgeCoin, he chose the Shiba Inu, a breed of a Japanese dog.
How much is Dogecoin (DOGE)?
Dogecoin is currently in total circulation of 130,007,902,538+ DOGE. To put it in words, it is 130 billion doge coins. All the information related to the circulation of the Doze Coin has been told according to the Coin Market Cap.
Why is Dogecoin in the news so much?
If we talk about why Dogecoin is in so much discussion? then let us tell you that the reason for the discussions currently is that there is a tweet by the co-founder of Tesla and Space X included in the list of the richest man in the world.
In this tweet, Tesla co-founder Elon Musk said that he will launch a rocket towards Space X and in that rocket, he will send a copy of this Dogecoin. After this, its price came out and there was a jump of 5 to 6 rupees in it. And now it has jumped up to 180 percent.
Everyone is advised to invest in this cryptocurrency because the price of this Dogecoin cryptocurrency is going to skyrocket very soon.
Elon Musk also considers bitcoin the better cryptocurrency. They have invested massively in it and have approved payments in this cryptocurrency. Elon Musk wrote in a tweet last week – ‘Bitcoin is a good thing.
In the early stages, Dogecoin did not have the same success as Bitcoin and Ethereum. However, within 72 hours of its launch, there was a jump of 300 percent in this cryptocurrency.
The Litecoin and Luckycoin cryptocurrencies also use Dodgecoin’s password-based script technology. At the same time, SHA-256 encryption technology is used in bitcoin.
What are the advantages and disadvantages of Dogecoin?
Now you are going to know here what are the advantages and disadvantages of Dogecoin. So let’s see:-
What are the advantages of Dogecoin?
• The possibility of fraud in Dogecoin is very less.
• It is more secure than a normal digital payment.
• The transaction fees are very low in this.
• Accounts are very secure in this because different types of Cryptography algorithms are used in it.
What are the disadvantages of Dogecoin?
• Once a transaction is completed in Dogecoin, it is impossible to reverse it, as there are no options in it.
• If your Wallet ID is lost, then it is lost forever, as it is not possible to recover it.
• In such a situation, whatever money you have in your wallet, is lost forever.
How to buy Dogecoin (DOGE)?
If you want to buy Dogecoin, then you can buy it by following the steps given below:-
Step 1.:- Create an account in the crypto exchange platform!
The way you buy another cryptocurrency buy by using a crypto exchange platform. In the same way, you have to first create an account in the crypto exchange.
Step 2.:- Deposit money in your account!
Once an account is created, money has to be deposited in it to buy any cryptocurrency. You can deposit as much money as you want.
Step 3.:- Now Buy and Sell Dogecoin!
After depositing money in the account, you can buy and sell whatever cryptocurrency you want by searching it in the search box.
History of Dogecoin
Dogecoin was launched on 6 December 2013 by Billy Markus and Jackson Palmer. The main purpose of making it in the early stages was to make fun of cryptocurrency. But one of the purposes of creating this coin was also that dogecoin should be used more than any other of the time such as bitcoin.
Within 1 month of the launch of Dogecoin, more than 1 million people started visiting its website dogecoin.com, which due to its popularity, started being used for online transactions.
The pre-existing Litecoin was used to create Dogecoin. To create this coin, Markus used the already existing protocols of Litecoin and at that time Litecoin used Scrypt technology.
On 9 September 2013, Dodge Coin made its first jump, increasing more than 300% and its price from $0.00026 to $0.00095. And its first crash happened when a Chinese bank started opposing trading in bitcoin. At that time the price of this coin had fallen to 80%.
Even worse times came for Dogecoin, when on 25 December 2013, a hacker stole millions of Dogecoins. After this theft, many questions began to arise about Dogecoin. And to compensate the people who were harmed by this theft, the committee of Dogecoin gave donations.
And the good thing is that whatever amount of loss was there, it was paid very soon through donation. After this, the price of the Dodge coin fluctuated several times. But this coin became the real hero when Elon Musk started promoting it.
After Elon Musk promoted it and Dogecoin funded a mission of Elon Musk, its price suddenly started rising. And where the dodge coin was not even worth $ 0.01, its value reached more than $1.
But due to the recent crypto crash, its price fell drastically and now its price has come down very much.
Dogecoin FAQ
Here you can read some Q&A related to Dogecoin:-
Q1.:- What is Dogecoin (DOGE)?
Dogecoin is a digital currency that was coined by Billy Markus and Jackson Palmer in 2013 as a joke.
Q2.:- Who and when started Dogecoin?
Dogecoin was started by Billy Markus and Jackson Palmer in 2013.
Q3.:- How to buy Dogecoin?
To buy Dogecoin, you create an account in a crypto exchange platform and deposit money in it. After that, to buy Dogecoin, you can buy Dogecoin by searching.
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Q1.:- What is Dogecoin (DOGE)?
Dogecoin is a digital currency that was coined by Billy Markus and Jackson Palmer in 2013 as a joke.
Q2.:- Who and when started Dogecoin?
Dogecoin was started by Billy Markus and Jackson Palmer in 2013.
Q3.:- How to buy Dogecoin?
To buy Dogecoin, you create an account in a crypto exchange platform and deposit money in it. After that, to buy Dogecoin, you can buy Dogecoin by searching.
