Amid the many cryptocurrencies, blockchain investors can focus on Bitcoin and Ethereum. However, Altcoins could outdo these cryptocurrencies if investors gave it a thought. Such include the dogecoin that was discovered in 2013. So what should you know about this cryptocurrency? Read on!
The inception of the dogecoin and what it is.
Jackson Palmer and Billy Markus thought that Bitcoin was overrated with lots of seriousness revolving around this trade. This sparked the interest to develop a coin that would have a wow factor to prospective investors. Its logo is derived from a meme that had misspelled the word doge describing Shiba Inu dog.
Dogecoin is a decentralized network that allows the safe trading of digital currency without involving third parties. Initially, it was launched to be Bitcoin’s mockery but later attracted millions of enthusiasts. This coin has gained popularity due to its friendly principle; it has been useful in several charitable events.
Like other cryptocurrencies, you must create a wallet to acquire dogecoins. Since the wallets vary, the choice of one should be subject to factors like usability, security, and features. Some of the hardware wallets previous dogecoin users have preferred include ledger, trezor, and exodus.
Software wallets are essential for storing your keys. Dogecoin has a software wallet provision, MultiDodge, for better navigation. Zen to BUSD exchange platform accepts various wallets; you can look for a suitable one. You can proceed to acquire a doge address before moving to the next step of buying doge tokens.
How to buy dogecoin
Few platforms allow dogecoin transactions in exchange for Euros and Dollars. Here are some of the ways investors can buy dogecoin:
1. Through Binance – Cryptocurrency exchange Binance has a selection of cryptocurrencies available for trading. And, Dogecoin is one of them. Currently, It is the world’s largest exchange in terms of per day trading volume. You can purchase doge through Binance by accessing its exchange website and by clicking on the buy crypto icon.
2. Bitapanda – Bitpanda is an Austrian company that provides financial services and technology to help its users invest in cryptocurrencies and stocks. It is another doge exchange platform that allows you to own doge coins.
3. Kraken – Kraken is not just a Bitcoin and Crypto trading platform. It is one of the best places to trade and learn about cryptocurrencies. It is another exchange platform that allows investors to purchase doge cryptocurrencies. Though, buying through Kraken is limited to specific countries.
4. eToro – Buying through eToro is a cheap, profitable option that allows traders to profit without owning dogecoins.
5. changelly – You can also purchase dogecoins through changelly. This is a conversion service provider allowing fiat and crypto transactions. However, buying through this option might be costly for some investors.
6. Bittrex – Bittrex mainly focuses on Bitcoin & Ethereum, but you can also buy/sell Dogecoin as well. This option allows traders to purchase or deposit bitcoin to acquire doge coins.
There are more ways to trade doge exchange; you can find some on Zen to BUSD. Since EU frameworks do not regulate trading cryptocurrencies, investors must be cautious when acquiring doge coins. Storing cryptocurrency is ideal for blockchain investments as you reduce potential risks like theft or losing the crypto. From here, you are free to use your cryptocurrency as desired.
The idea of launching Dogecoin crypto was to outdo famous cryptocurrencies. Somehow, the token has been appealing to investors for its involvement in charitable acts. Though it doesn’t outdo other digital currencies, dogecoin is the crypto you should watch over the next decades –it is bound to gain popularity!