Dogecoin

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Dogecoin

  • Pronounced: ˈdoʊdʒkɔɪn/ DOHJ-koyn or as I say: “dousch”coin.
  • Code: DOGE
  • Symbol: Ð
  • Inventors: Billy Markus and Jackson Palmer (both software engineers)
  • Developer(s): Billy Markus (“Shibetoshi Nakamoto”)
  • Goal of valuation: To reach $1 per Dogecoin.
  • Initial release: December 6, 2013; 7 years ago
  • Source Mode: Open-Source
  • Website: https://dogecoin.com

Guide level: Beginners guide.

Dogecoin is a decentralized cryptocurrency based on the blockchain technology. Dogecoin is a fork of Luckycoin, which itself was a fork of Litecoin, which originally was a fork of Bitcoin. If this means nothing to you but you just want to buy Dogecoins, then don’t worry, there are a lot of technical way of saying that a cryptocoin has a history and a lot of research is connected to its development and future acceptance.

Please read all page before taking action.

Where to Buy Dogecoins.

A crypto exchange is a place where you trade crypto. Some exchanges let’s you buy crypto from your FIAT currency, like dollars or euros . When you buy crypto coins you often trade that FIAT currency into crypto currencies. However there is something like hot wallets to dig into. Keep in mind, that exchanges can crash, get hacked and so on and so forth. Slowdown might occur as more trading activity and commercial integration of cryptocurrency is growing. Some excanges will approve you quicker than others. It is possible to buy through VCC Exchange, BKEX & Paribu too.

I trust the following exchanges and/or soft wallets:

Notice, that you might be rewarded when using one of the following links, as I use referral links as much as possible.

FIAT is currencies like: Dollar, Euro & more.

Crypto is currencies like: Bitcoin, Ethereum, Ripple & more.

These exchanges offer Dogecoins.

Crypto.com

My all-time ranking of exchange/wallet: No. 2

Type: Exchange & Wallet App

Difficulty Level: Very Easy

FIAT: 8 different currencies.

Crypto: 90+ different currencies.

Buy type: VISA Debit Credit card or Crypto currency tranfer.

Option for crypto creditcard: Yes.

Pays interests: Yes.

Allows 2FA: Yes.

Referral code for reward: 6u823dj0z8

Binance.com

My all-time ranking of exchange/wallet: No 3

Type: Exchange & wallet app.

Difficulty Level: Medium

Option for crypto creditcard: No.

Kraken.com

My all-time ranking of exchange/wallet: No 4

Type: Exchange only (their own definition).

Difficulty Level: Medium

Allows 2FA: Yes.

Goto: Crypto Exchanges & Wallets to read more about my thoughts upon which exchanges to use and why.

How to buy

Before you begin, please notice that you are often required to submit a picture of ID.

ALREADY GOT A WALLET: Jump down to next section where I linke to exchanges that offers Dogecoins.

FIRST TIME BUYERS: If you have never bought crypto currency then you don’t have a “wallet” or an account to store them in. In this case you need to sign up to an exchange or wallet and buy crypto with bank transfer or VISA Creditcard. For beginners who want to buy Bitcoin I would prefer Coinbase (invitation) and for beginners who only want to buy Dogecoins I would prefer to use Crypto.com as you can buy the most popular cryptocurrencies (including Dogecoin) with you VISA Creditcard. Crypto.com also lets you apply for a crypto credit card.

Crypto.com & Kraken:

Crypto.com app is more easy than buying a pizza. You can buy Dogecoins with your holdings in crypto or through VISA.

  • Sign up here
  • Referral code for reward: 6u823dj0z8 (can be added on sign up)

Kraken allows exchange of Dogecoins for Euro.

Binance:

Binance requires that: First fund your account with dollars, then trade to Tether and then trade to Dogecoins. It is a more difficult way of acquiring Dogecoins, but this exchange has been a favourite of mine.

  • Sign up here
  • Referral code for reward: 11798881 (can be added on sign up)

I prefer crypto.com but does not necessarily endorse it or any other exchanges.

Safety

Learn how to store your crypto currency on a cold storage wallet. Keeping your coins on the exchange is exposed to hacking and the like.

2FA – Two factor authentication.

Video

Andrei Jikh – describing Dogecoin

Dogecoins Pros

  • Block time of 1 minute meaning it has a somewhat “fast” ability to confirm transactions.
  • Cheap to use because of little competition in the mempool as a result of few users.
  • Support amongst internet community

Dogecoins Cons

  • Deflationary currency due to no upper limit of coins to be mined with 10.000 Dogecoins per block being mined every minute. Meaning there is no cap on how many coins will eventually be available. Even without a demand, the supply will this increase making a devaluation happening. One could argue the same goes for Ethereum but that requires more research and understanding.

My thoughts

If investing in Dogecoin then invest for the pure love of internet culture and the possible statement of changing the order of power through crypto payment. It is a way to “stick it to the man”. The nature of this coin is that it is build on a MEME and as such it is a viral idea at best. The idea of replacing FIAT with another currency like this is either a joke or poetic. At this stage, I do not think Ð will be one of the main coins that will be used in everyday payment transactions. But I believe that we will see occasionally pump & dump if the coin somehow keeps representing the internet culture while having more viral rounds to go. At current time it surely has a great support throughout the different activists & fora and the goal of reaching $1 per Dogegoal is enticing but is the time of writing a 3,300% increase from the current price meaning it will have to battle Ethereum to reach that goal. None the less, I have great love for the Doge.

Links, leads, Sources & more info about Dogecoin

Reddit: https://www.reddit.com/r/wallstreetbets & https://www.reddit.com/r/SatoshiStreetBets

Wiki: https://en.wikipedia.org/wiki/Dogecoin

Twitter: https://twitter.com/search?q=(crypto%20OR%20cryptocurrency%20OR%20bitcoin%20OR%20ethereum)%20(from%3Aelonmusk)%20-filter%3Areplies&src=typed_query

YouTube: Andrei Jikh Dogecoin to the – Moon What You Need To Know

Official Website: https://dogecoin.com

Search words/Hashtags/SEO:

Unfortunately this is needed to been seen by search engines at this stage. The words are like hashtags and optimizes the page to be found be the people who a looking.

GAMESTOP GAME STOP DOGE, DOGECOIN ELON MUSK CRYPTO CRYPTOCURRENCY HOW TO BUY WALL STREET BETS Reddit short shorted shorting

Disclaimer

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Please note that I am not a financial adviser and not a broker-dealer. None of this is official investment advice but is for education only – please do your own research before investing. I, and chrisstoffer.com, am not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment.

Links may include affiliate commission or referrals which often provides commission to link-holder and/or link user (both of us). The blog/post/page is accurate to the best of my knowledge & as of the posting date but may not be accurate in the future. Misprints, typos & wrong or misunderstood statements are in any cases unfortunate but not impossible to occur.