Brought into existence of virtual reality by Jackson Palmer & Billy Markus back in December 2013, Dogecoin has been one of the leading and longest-standing cryptocurrency in the market today. Dogecoin compared to other cryptocurrencies have higher supplies. The supply of hundred billions of units is more than enough for everyone to have their own Dogecoin. And with its availability, Dogecoin price is not as expensive, hence those who are new in the industry can invest in it with the potential of winning and losing with minimal effort.
Its Major Benefits
Cheaper than water
Yes, it is cheap in all aspects of the word. It is cheap to buy Dogecoins same as with its transactions. Those who do not have too much money to spare can invest in this currency. They have been in the industry for quite a long time already and to that you know they can be trusted.
One of the reasons why others prefer Dogecoin than any other cryptocurrencies is its fast transaction. Transactions and confirmation are sent in a very fast manner, hence you do not need to wait too long before you can withdraw your money, or buy or sell the currency.
It Is Highly Available
What made this a practical choice is its availability. It is widely available on almost every exchange and can be traded on most of the platforms. The number of Dogecoin is enough for everyone to have a share of the currency’s unit. The more coins you purchase, the more profit will be gained or maybe lost as per its unconstant ups and downs of its rate.
It Offers Minimal Loss
Since Dogecoin is cheap, losing will not hit you hard unlike other types of currencies. Hence, beginners are highly recommended to invest here as losing, same as winning is not as much compared to other existing currencies. Needless to say, this is a good choice for people who have limited money to invest.
Some more facts about Dogecoin
- Dogecoin was originally founded as the result of a joke made by Jackson Palmer in November 2013. When he was contacted by programmer Billy Markus, they decided to turn Dogecoin into a reality.
- Dogecoin has several safety levels and is almost irresistible to hacking.
- Dogecoin was created as a prototype of Luckycoin, which is based on Litecoin technology.
- Doge gambling allows one of the highest withdrawal speeds and it is one of the safest ways to provide online casino activities.
- Secured payments within the Dogecoin chain are beating fiat currencies’ level of safety in many ways.
- Dogecoin gamblers are frequently getting lower fees than those gamblers who prefer betting with fiat currency.
- Dogecoin’s mining process is very fast. Within the first year of its existence, 100 billion coins were mined. Transaction fees within the Dogecoin network are about 1 DOGE per transaction.
- The Dogecoin community is different from other cryptocurrency holders’ unities. They strongly believe in Doge’s bright future and are sure that one-day Doge will go to the moon literally.
- One of the widespread ways of Dogecoin use is giving tips. They are awarded almost the same as “likes” in social nets. However, these tips award users with Dogecoins.
- Jackson Palmer who is a creator of Dogecoin is proud that without any software updates within several years the market cap for Doge is still over USD 500 million.
- Dogecoin is using a proof of work system of transactions verifying. The same system uses Bitcoin.
- Dogecoin is widely represented in social media such as Twitter and TikTok. In summer 2020 the Dogecoin TikTok challenge popped-up encouraging people to invest in this cryptocurrency.
- In late January and early February 2021 Dogecoin found itself boosted by a sudden influx of users from the WallStreetBets subreddit. This led to a sudden influx of cash that briefly pushed prices as high as 7.2¢, an all-time high for the cryptocurrency.