Dogecoin is among the most well-known cryptocurrency in the marketplace today. It was developed at the end of 2013 , by Billy Markus and Jackson Palmer two software engineers who developed this coin to mock the rogue speculation that was taking place in the cryptocurrency market at the time. The logo, which is an image of the "Doge" image, hints at its playful nature.
It has evolved into a well-known coin which has proven to be an excellent investment for many. Dogecoin has its roots in an Scrypt algorithm that has an easier transaction process than Bitcoin. Dogecoin just takes a minute to validate, whereas Bitcoin can take 10 minutes.
It has been through various markets over the years and also has been utilized to make a positive contribution to the community, for instance as an official shirt sponsor for Premier League Side Watford. It has a current total market value of $15 billion, with the total of 132 billion currently in circulation.
Funny facts on Dogecoin
- Dogecoin is an open source cryptocurrency that has Shiba Inu (a Japanese breed of Dog) as its symbol.
- It utilizes similar proofs of work that is used by Litecoin , as they're both built on identical technology.
- Dogecoin is one of the largest communities within the cryptocurrency space. Reddit, Twitter and Tik-Tok are among the many people who support Dogecoin which has helped it to grow in the popularity it enjoys today.
- In March 2014 the Dogecoin community gave $53,000 worth of Dogecoins to help NASCAR driver Josh Wise. They also contributed $11,000 towards the construction of an underground water source in Kenya.
- The all-time high for Dogecoin's price was $0.74 in May the year 202. It also reached the all-time record for market capitalization of $93 billion.
- Dogecoin has a quick mining process that operates at the ability to mine one block every minute. This allows miners to create more blocks than they want and receive as much reward as they can. The users mined 100 billion coins within the first year of its launch.
Dogecoin's story since the time of its debut
Following its introduction in 2013, Dogecoin has been through its fluctuations and ups, and has become one of today's most popular currencies. Dogecoin isn't a one's favorite on social media as it was one of the most popular levels of hype on social media. In the realm of cryptocurrency, it's so hot that one of its founders, Jackson Palmer, tweeted shortly before the launch of the cryptocurrency saying that "Investing in Dogecoin I'm pretty sure it's the next biggest thing."
Within a week of that tweet after that tweet, he purchased the domain Dogecoin.com And the rest is the story of. When it was launched on December 13, 2013, it received an influx of interest on Reddit and generated an estimated market worth of around $8 million. It became popular due to the "tipping" method that was employed in the Internet.
Tipping is a method to repay individuals on the web to do things, such as sharing ideas via a website platform or sharing an idea with a friend. Dogecoin was the second most-tipped currency a week after its launch. In the past, Dogecoin has gained popularity and popularity mainly due to its less stifling entry requirements than Bitcoin for those who may be interested in cryptocurrency.
The value of Dogecoin experienced a massive increase during the crypto bubble that ran from 2017 and the year 2019. It reached $1 billion in total capitalization during the bull market of 2017/2018. Another thing that has helped Dogecoin through time is the amount of support it has received from famous people. While some people view the coin as an excellent investment, other people use it to conduct business.
The first name that immediately comes to the mind would be the Tesla's Elon Musk. Musk has tweeted numerous times on the subject, and he has been awestruck by it to the point where it was accused of market manipulation. Dogecoin is among the three cryptos that he owns. It is no surprise that Mark Cuban is another top star who has shown great support for the crypto currency. He has made Dogecoin a valid option for payment of Mavericks tickets and merchandise.
Six ways you can purchase Dogecoin within Canada
When it comes to purchasing crypto, you have many ways to access it to use for any need you have in mind. The most common ways to get access to cryptocurrency are ETFs as well as Mutual Funds. However, with regards to Dogecoin the only method of owning the cryptocurrency is to buy it and hold it in your own hands. Here are some ways you can purchase dogecoins in Canada:
- Utilizing a cryptocurrency trading platform, such as CoinBerry CoinBerry Coinberry provides the most advanced features for trading in crypto on its platform, and is available across Canada. To access Coinberry you must download the app or go to Coinberry's Coinberry website. Register an account and confirm your information, and then you'll be able to load your account and then you can start trading with Dogecoin and other cryptocurrencies.
Additionally, Coinberry offers a safe and secure way to manage your Dogecoin assets, with no fees for funding or withdrawals. Coinberry has also been tagged as a licensed trading platform, which means you don't have anything to be concerned about.
- Through the purchase of Altcoins - One way of buying Dogecoin after creating and funding your Coinberry wallet with CAD is through fiat (CAD) to buy Dogecoin directly on Coinberry directly. Coinberry Platform. Fiat is a good method for buying Dogecoin. However, it's much more convenient to make use of CAD, particularly for platforms that are based in Canada like Coinberry.
- By purchasing well-known digital currency Another method to acquire Dogecoin is to buy popular digital assets such as Bitcoin and Ethereum and then exchange them for Dogecoin through the Coinberry platform, or on any other platform.
- By purchasing stable coins These are cryptographic currency which are typically tied to exchange-traded commodities or fiat currency. The majority of stablecoins within the crypto market are tied to fiat currencies. Some examples include USDT, BUSD or USDC. You can buy any of these stable currencies via a crypto exchange platform such as Coinberry and then trade them in exchange for Dogecoin on Coinberry or another cryptocurrency exchange platform.
- MiningThis is yet another way to own Dogecoin. It is possible to mine Dogecoin by using the help of your Macbook and Windows Computer if you are knowledgeable about technology.
Peer-to-peer platforms Contrary to cryptocurrency exchange platforms, peer-to-peer platforms connect individuals directly to purchase and sell cryptocurrency. These P2P platforms do not hold the money of the parties that are involved in the transaction. However there is a significant chance of fraud.
