A Detailed Review of Dogecoin: How it Started, How to Buy it, and Five Trusted Platforms to Buy from
In the world today, we seem to be in a digital era as technological advancements have taken over almost every aspect of this life. The one seemingly amazing aspect is that of Cryptocurrency. Cryptocurrency appears to be the future of the economy and it is fast gaining acceptance amongst so many people. In the Crypto world today, one of the leading meme cryptocurrencies in the market is the Dogecoin. Have you heard of it before? - We are certain you must have! In this article, we shall look into how Dogecoin started, how you can buy it, and other important things you need to know about it.
1. What is Dogecoin?
The whole concept of Dogecoin (has its symbol as DOGE) started in 2013, and it started all as a joke. The amazing thing however is that today, what seems to have started as a joke is one of the leading cryptos in the market. Before 2021, Dogecoin was mainly using a tipping mechanism. It got a life-changing turnaround this year after high-rated personalities like Mark Cuban, Elon Musk, and Snoop Dog, promoted and influenced it. This development saw so many crypto-enthusiasts jumping at DOGE, and it has since then been one of the top three when it comes to rating cryptocurrencies. DOGE uses the logo of a Shiba Inu dog and it is well known for it, the logo is always used in memes and various tweets to market and promote Dogecoin to new crypto investors and to further encourage current investors, who are known as the “Doge army”.
We cannot afford to ignore the impact of Elon Musk on the success of Dogecoin. Elon Musk, who is popularly known as the “Dogefather” has greatly influenced DOGE through his promotional tweets and this has led to the rapid adoption of the crypto by so many social medial communities including Twitter, TikTok, Gamestop, and others. His influence gave Dogecoin a push to around $0.70. As of last month, July 2021, Dogecoin traded with a market capitalization of $23 billion.
The main drive of the price action of this digital asset is social hype, the more the hype, the more increase the price value of DOGE. One very unique feature of Dogecoin is tha, unlike some other crypto assets, DOGE is designed to have no maximum coin supply. This makes it quite affordable to use, easily accessible to anyone interested, and it offers its miners awesome rewards. Mining Dogecoin is easy and well rewarded as long as you know how to go about it with your computer, you can become a miner and then sit back to enjoy the rewards for your contribution- which is freshly minted DOGE tokens.
The world of Cryptocurrency is generally unpredictable, you cannot be certain about the outcome of your investment but one of the things that give Dogecoin ahead of many other digital assets is its large community of investors (the Doge Army). The Doge Army include strong and popular individuals and since the key driver to the price value of this digital asset is social hype, DOGE seems to be doing great in the crypto market.
2. How Do I Buy Dogecoin?
Even though it is very important to be cautious when investing in any crypto assets and you might want to look into the risks involved before doing so, Dogecoin seems to be one of the crypto assets that are worth investing in one very common question amongst so many people is how to go about it. Buying Dogecoin is quite simple as long as you know how to do it, here are the steps to buying Dogecoin:
2.1 Open an Account on a Dogecoin-Supported Crypto-Exchange
The first thing you would have to do once you decide to buy Dogecoin is to look for a cryptocurrency exchange that supports Dogecoin or that has Dogecoin listed on it, and then go ahead to open an account on it. Opening an account on most crypto exchanges are not complicated at all, you only need to get available certain basic details about you that include your full name, your email address, some exchange platforms ask for your home address too, and then a strong password. Sign up using these details, and you can then proceed to buy Dogecoin after this.
There are many cryptocurrency exchange platforms with different rates and standards out there today so you must make good findings and necessary comparisons before choosing the one that best suits you.
2.2 Get Funds Available in Your Account
After signing up with a crypto-exchange platform, the next thing you have to do is to deposit funds into the account. Various exchange platforms offer a wide range of deposit options that allow you to easily fund your account, there is the direct bank transfer option, the e-wallets option, and the credit/debit cards option. Therefore, look for the deposit option that best suits you because each deposit option has its charges and that the fee charged on some deposit options are higher than others. Another interesting thing is that you are allowed to buy DOGE with fiat currencies like EUR, USD, AUD, and the likes on most crypto-exchange platforms.
2.3 Finally, Buy Your Dogecoin
Once you have signed up with the exchange platform of your choice, and you have funded your account through the deposit option of your choice, you can go ahead to buy the Dogecoin. You have to be very careful at this stage so that you do not type in the wrong details or even fall into the hands of scammers.
To buy DOGE, search for the asset by typing its name in the Navigation or Search bar. Once it pops up, click on it and check for the buy option. After clicking on buy, type in the amount of Dogecoin you intend to buy (making sure that you cross-check and re-check well to avoid any form of mistakes). The exchange platform then automatically sends in the DOGE that is worth the amount you have entered into your wallet (you can easily create a software wallet or even buy a hardware wallet for your crypto tokens). You must double-check all entries before the final submission to be sure that you have entered them correctly, this is because, apart from the fact that you can easily make any mistake in the entries, scammers have a way of creating scams tokens and giving them a name that looks like the original one such that it can get you confused. Ensure you check for any error in the spelling of the token, also look out for the logo displayed to be sure that it is the real one.
3. Five (5) Trusted Platforms to Buy Dogecoin From
This crypto-exchange platform is a trusted one and is not complicated to use. The deposit methods available on the platform include Credit/Debit Card, Wire Transfers, PayPal, Cryptocurrency, and SEPA. There are up to 250 cryptocurrencies available on the site and over 50fiat currencies that include USD, JPY, GBP, and others.
Webull Cryptocurrency Exchange is another leading one. This platform is known for trading only top-leading currencies and it is also quite easy to use.
The deposit methods available on the platform include Wire Transfer and Bank Transfer. There are 8 cryptocurrencies available on the site and the fiat currencies available include USD, INR, JPY, EUR, GBP, HKD, CHF, AUD, CAD, and CNY.
This is a very popular cryptocurrency exchange platform. Coinbase Digital Currency Exchange has great services and a lot of users. The deposit methods available on the platform include Credit/Debit Card, Wire Transfer, PayPal, Cryptocurrency, and Bank Transfer. There are 69 cryptocurrencies available on the site and over 20 fiat currencies that include USD, DKK, CAD, JPY, GBP, and others.
Robinhood Cryptocurrency Exchange is easy to use and the platform trades cryptocurrencies that are topping the market. The deposit methods available on the platform include Debit Card, Bank transfers, and Cash. There are 17 cryptocurrencies available on the site and the only fiat currency allowed is USD.
Gemini Cryptocurrency exchange is another trusted platform for you.
The only deposit method that is available on the platform include is Bank Transfer(ACH). There are 41 cryptocurrencies available on the site and fiat currencies include USD, HKD, CAD, SDG, GBP, AUD, and EUR.
4. Tips on How to Sell your Dogecoin
Selling Dogecoin is almost as easy as buying it. All you need to do worry to select the “Sell” option in your Exchange wallet, input the amount of Dogecoin you would like to sell, and then indicate the fiat or cryptocurrency you want to exchange it with.
Dogecoin is one of the top cryptocurrencies in the market today and it seems to have a lot of potentials that makes it worth investing in. There is a chance that DOGE's price value would grow amazingly in the next few years.