Dogecoin is one of the cryptocurrencies that have been making headlines in recent months. It was created in 2013. It was the work of two computer engineers: Billy Markus and Jackson Palmer.
This is the first cryptocurrency whose aesthetic was derived from a meme. Initially, it was a joke aimed at challenging other virtual currencies. Represented under the guise of a Shiba Inu, this crypto has recently experienced strong growth following tweets from Elon Musk.
Today, it is one of the most profitable cryptocurrencies. Since January 1, 2021, its price has exploded by 14,000%. This performance of the Dogecoin undoubtedly reflects the potential of a cryptocurrency that deserves attention.
Why choose Dogecoin?
This cryptocurrency, like Bitcoin, does not emanate from a central government. Clearly, it is decentralized and issued online peer-to-peer.
Its impressive performance at the moment is not insignificant. Unlike Bitcoin, it is used to finance social projects. It is therefore coveted by large investors who are increasingly interested in how to buy Dogecoin.
A cryptocurrency with a social purpose
The Dogecoin community has a history of mobilizing resources to support worthy causes in many countries. In 2014, the Jamaican bobsleigh team obtained as part of the Olympic Games, $ 30,000 in this cryptocurrency.
In the same vein, a fundraiser was initiated to finance the construction of a well in a basin in Kenya. The campaign raised the equivalent of $11,000 for the cause.
The vocation of this motto to finance charitable projects reinforces its attractiveness. On January 6, its capitalization reached two billion dollars, according to Coinmarketcap.
A cryptocurrency coveted by large investors
In terms of media popularity, DOGE has overtaken several leading cryptocurrencies like Ether. This is primarily due to its relatively affordable cost to the mass, which is currently less than a dollar a coin.
But, it is more its propensity to attract large investors that justifies its boiling today. One of the best known of these investors is Elon Musk.
The explosion of crypto is largely to the credit of this American billionaire of South African origin, owner of Tesla and SpaceX. Passionate about crypto currencies, the latter has already invested nearly $ 1.5 billion in Bitcoin in 2021.
Since April 2019, Elon Musk has been multiplying jokes and references to the Doge. The mere fact that he tells his millions of followers about it has helped drive up the price of the cryptocurrency. Other celebrities like Snoop Dogg have also taken part in this promotional movement.
The obvious interest of large investors in DOGE is beneficial for its expansion. The injection of large sums of money directly promotes the gradual increase in value of money.
DOGE after Elon Musk
If the value of crypto has jumped following Elon Musk's intervention, there is no real risk that it will collapse later to return to its previous price. The project behind it naturally attracts the support of many users.
The spotlight provided by the billionaire has made the crypto currency known, but it is this project and its simplicity of use that determine the follow-up to expect. It is a safe bet that its price will remain at a relatively constant level, even in the absence of additional exposure.
How to buy Dogecoin?
The acquisition of Dogecoins can be done through purchase via exchange platforms or through mining.
Buying on exchange platforms
Most cryptocurrency exchanges offer their users:
- The ability to trade multiple cryptos;
- Reasonable transaction fees;
- Cross-platform support;
- Customer support.
Purchases are usually made via credit cards, cash balances and various other payment methods. It is strongly advised to proceed with the purchase of Dogecoin when its price is falling.
Acquisition through mining
Mining refers to the activity of mining computer equipment in order to record transactions on a blockchain and make them immutable. Miners get tokens as a reward for their activity.
Originally valued at a maximum of 100 billion DOGE, crypto can now be mined ad infinitum. Click here to learn more. Approximately 10,000 DOGEs are currently mined every minute.
Despite its attractive prospects, as with any cryptocurrency known for its volatility, care must be taken not to invest in Dogecoin beyond a sum that can afford to lose.
