what is Dogecoin
Dogecoin – a funny cryptocurrency with real value
Cryptocurrencies have been growing popular over past few years – mainly due to incredible success of Bitcoin. Bitcoin has already become a legend and now when talking about cryptocurrencies people divide them all into “bitcoins” and “altcoins” (alternative coins).
Dogecoin is a quite interesting altcoin which is probably in the best stage of its lifecycle –dogecoin is popular enough but still relatively easy to mine. The best statistics proving popularity of Dogecoin is the fifth place in the global cryptocurrency capitalization ranking. One Dogecoin today costs 0.000022 USD which is absolutely not impressive, however nothing prevents you from mining really a lot of dogecoins! Probably it’s the last and the best chance to start doing it now – some experts suppose that dogecoin will reach its peak soon. There is no way to predict it for sure, but it makes sense to consider what experienced people say.
Finally, if you still hesitate – there’s a funny dog on the virtual coins! The dog that all true geeks from the whole world love so much! Isn’t that a great reason to invest in Dogecoin?
It’s a well-known fact that Dogecoin is based on another cryptocurrency – Litecoin. They have pretty much the same algorithm although they say that one Dogecoin works with is more advanced.
Dogecoin appeared in 2013 and broke into the market with heavy support of advertising campaign. It took less than a week for cryptocurrency enthusiast from different countries to find out about Dogecoin. Without a doubt, that cute dog – the symbol of Dogecoin – played a huge role in the marketing campaign and attracted lots of new investors.
Those who reacted to a new cryptocurrency with skepticism definitely regretted when first brave users started gaining decent profit. In the very beginning it was possible to earn a lot. Today it’s still possible to benefit but, of course, not that much.
By the way, Dogecoin displays rather good dynamics – take a look at the graphics available online and you will notice that there was no turbulence with the exchange rate. Firstly created without any serious intentions Dogecoin has evolved into a great investment tool with good reputation and large number of followers.
How to get Dogecoin
The most obvious way is to start mining, of course. People who have some experience with cryptocurrencies already know that solo mining is impossible for Dogecoin and the majority of other altcoins – unless you have your own network on power computers equipped with high-end graphic cards and top-notch CPUs. Anyway, in such a case you will spend more than earn.
We suggest you joining a good pool of miners – there are dozens of pool in the Internet where you will be really welcome. Each new member is valuable if his or her hardware meets certain requirements. Luckily they are not that strict for Dogecoin mining – for instance, certainly not as strict as for mining Bitcoin.
Each pool has its own favorite software. You need to be prepared for installing new programs and learning how to use them. It could be quite tricky for beginners, but if you are motivated there will be no problems with that. When everything is set up and ready to work you need to merely launch the software, take a cup of tea and patiently wait for first coins dropping into your virtual pocket.
As we have already mentioned Dogecoin has interesting investment potential. Many investors don’t want to spend time on mining. Finally, there are people who don’t understand anything in computers but want to stay on the edge of technologies and economy. They may purchase Dogecoin for US Dollars, Euros or any other real or cryptocurrency. All major exchange platforms offer such opportunity.
In order to buy, store or sell Dogecoin you need to have Dogecoin wallet. There easiest way is to create an account in the exchange service you like – the wallet will be created automatically and you will get the link to it. This link is necessary for operations with Dogecoin.
Is Dogecoin a good choice for investing now?
Who knows… Anyway, if we knew the answer we’d never tell you! Who would? Financial world is incredibly unstable. It suffers from fluctuations and crises which sometimes occur absolutely unexpectedly. Despite there are many formulas and instructions on what to do in a certain situation you’d better remember – all of them were created post factum when all the worst things already happened. We don’t think that it’s a good idea to pay too much attention to the scenarios of the past.
Successful investors who managed to earn a fortune say one should trust his intuition. We cannot give a better advice. Dogecoin has been remaining on a good level since 2013 when it was launched and there are no preconditions for sudden rapid growth or abrupt landslide. But no one can guarantee anything!
Comparing Dogecoin to other cryptocurrencies like Bitcoin, BlackCoin, Dash and Litecoin we see that the coins with funny shiba inu demonstrate very good results. For example, they are accepted by more than 200 big online sellers and their number is growing.
Another thing positively influencing Dogecoin reputation is the fact that some wealthy owners who invested in this cryptocurrency are known for their charity work.
We’d like to sum it up by telling you about a great advantage Dogecoin gives to its miners. Dogecoin is a Scrypt-based cryptocurrency meaning that while mining it you can do so called “merged mining”.
A computer or a network (if it’s powerful enough) can easily work with multiple currencies by verifying different transactions simultaneously. It means that you can mine Dogecoin together with Litecoin or any other Scrypt-based cryptocurrency at the same time. That is really a great advantage from the financial point of view.
Undoubtedly Dogecoin is a cryptocurrency worth of considering when it comes to investing into altcoins. Probably Dogecoin would be the best solution for people who are looking for promising cryptocurrencies which boast modest, but stable growth.