There will be hardly anyone in today’s date who does not know about the ware of cryptocurrency. If you do not know, then at least in the ware of Bitcoin, I must have heard it from my friends, some news channel or news paper. Dogecoin, like Bitcoin, is a cryptocurrency that is built and run on the concept of blockchain and data mining. Offer You also want to know what is Dogecoin? How to buy Dogecoin, etc., then in this article you will find the answer to all your questions.
What is Dogecoin?
Before knowing this, we have to know what is cryptocurrency. Cryptocurrency is nothing but a state-of-the-art digital currency. Without talking much here and there, let’s come straight to the point. Dogecoin is a cryptocurrency with about 10,882 coins in about 381 crypto exchanges. It is also based on the concept of Blockchain like other cryptocurrencies. Each cryptocurrency is created for a specific purpose, that is, to improve or bring new things to a particular sector. But Dogecoin has a different story.
When and how was Dogecoin created?
Two software engineers, Billy Markus and Jackson Palmer, are the creators of Dogecoin. In the year 2013, both of them together made a similar joke and made this cryptocurrency in a joking manner. Like other cryptocurrencies, there was no specific purpose behind it. If it should be used for some kind of big work, no eye has been found for it till date. For many years after the formation of this coin, no increase was seen in it. But just a few months ago, when the world’s richest man, Elon Musk, started talking about it, its price started skyrocketing. But even today, it is seen in the cryptocurrency market from the point of view of a joke coin i.e. meme coin.
Why is Dogecoin so popular?
You, me and all of us invest in cryptocurrencies so that we can get a good return. If you want to invest for a very long time, then you can invest money on big science which will give you a definite and good return. But we all need more money a little sooner. Dogecoin has fulfilled this need of ours in the last few months. If you look at the old graphs of cryptocurrencies (on web sites such as Tradingview) you will know how much return dogecoin has given. Although we all know that this coin is not a fundamental coin, yet if someone is giving good return then why not? With this thinking, when everyone starts investing money in a coin, then the value of a coin starts moving up a lot.
Behind the popularity of Dogecoin, Elon Musk, the richest person of Biswa, has been a big hand. He made a huge investment in it and brought it in front of everyone. At least twice a month, on social media platforms like Twitter, he came to Dogecoin’s ware while saying something good. Those whom so many people like and follow in the world, if they show so much faith in any cryptocurrency, then it is not a big surprise to see a jump in the price of that coin.
How to buy Dogecoin?
First of all, before buying dogecoin or any cryptocurrency, I should know well about it. You will find many such platforms where you can get the information of your favorite coin. To buy any cryptocurrency, we have to go to any one cryptocurrency exchange. In today’s date there are 381 exchanges, in which you can invest in any cryptocurrency by fulfilling only a few formalities. Dogecoin profitbug is listed on all exchanges. If you are looking for an Indian exchange then WazirX is a very easy and reliable exchange. Here you can easily buy Dogecoin, keep an eye on it and when I sell it, I can transfer money to my bank account, that too within 1 minute.
What are the benefits of Dogecoin? What are the benefits of Dogecoin?
Like any other cryptocurrency, Dogecoin has many advantages.
- Like the rest of the science, it is also built on the concept of Blockchain. The world is going to do everything going forward with the help of Blockchain. Meaning, anything made this way is going to come in many forms. That is why its respect will increase and at the same time its price will also increase significantly.
- The price of Dogecoin is still a long way off. You can buy a Dogecoin right now for around 20 rupees. The funny thing is that its price till a few months ago was only 30 paise. So anyone can buy a lot of Dogecoin even by investing work.
- The person who respects Dogecoin is the richest person in the world. This means that the possibility of going below the price of this is a lot of work.
- Dogecoin currently occupies the eighth position (8th position) among all cryptocurrencies. That means you can trust it.
- Transaction fees in Dogecoin are very low compared to other coins.
- As far as the question of security is concerned, transactions in dogecoin are more secure.
What are the disadvantages of Dogecoin? What are the disadvantages of Dogecoin?
- Dogecoin is a meme coin. There is no fundamental behind this.
There is a lot of jump and sometimes a fall in the price of dogecoin. That is why investing money on such a volatile coin can be risky.
- Dogecoin is not a fundamental coin. It only goes up because of Elon Musk’s tweet. That’s why trusting it too much can probably land you in trouble.
Looking at the performance of Dogecoin in the last few months, it seems that it will be one of the top 5 coins very soon. However, at some point it was on the verge of leaving behind a coin like Binance. As of today, Dogecoin has a market cap of around $26,47,98,00,728. From all these figures it seems that the future of Dogecoin is very good. But it is very difficult to predict anything accurately in the crypto market because the market remains very volatile.