Dogecoin For Beginners
Dogecoin (DOGE) is a cryptocurrency from 2013, based on funny motivations rather than serious needs to fulfill practical purposes.
The "Doge" meme was inspired by the cryptocurrency, which shows a picture of a Shiba Inu - a Japanese breed of dog - sitting with its fingers folded together. The text is covered with images of dogs, and sentences that praise unprofessional grammar.
Dogecoin was inspired by the eccentric culture of the global cryptocurrency community, which began to develop in 2009 with the launch of Bitcoin (BTC).
If you are updated with Elon Musk, he once tweeted about owning Dogecoin, which is related to its popularity and price.
In April 2020, Elon Musk tweeted "Doge Barking at the Moon" which caused Dogecoin's value to increase by more than 600%.
What Is Dogecoin?
According to the official Dogecoin website, Dogecoin is an exciting, new and fast digital currency.
Simply put, Dogecoin is almost like Bitcoin, you can buy and sell it just like you buy and sell Bitcoin. Dogecoin was created by two software engineers, IBM engineer Billy Marcus and Adobe engineer Jackson Palmer, on December 6, 2013.
The name and symbol of this crypto is based on the famous Shiba Inu dog meme of 2012-2013.
After the creation of Litecoin (LTC) and Luckycoin (LKY) based on the Bitcoin code, Markus and Palmer used the Luckycoin code to create Dogecoin, taking only a few hours to complete the task. Palmer and Markus left the Dogecoin project in the years following its launch.
Markus sold his pile of Dogecoin in 2015, and it was held, at the time, as much as a used Honda Civic. As of August 2021, the total value of all Dogecoins in existence is approximately $41 billion.
The price of Dogecoin is determined by the open market, based on supply and demand. Click the button below to see the current price of Dogecoin in USD (US Dollar), EUR (Euro) and GBP (Pound Sterling):
Where To Get Dogecoin?
You can easily get your first Dogecoin or at least a fraction of it through the following methods:
1. Crypto Exchange
Most crypto exchanges accept payment methods like bank transfer, cash deposit, credit card, debit card and Paypal.
Currently, most Crypto Exchanges require personal documents to carry out KYC procedures, but there are still excellent options that allow you to buy Dogecoin anonymously.
2. Dogecoin Mining
Dogecoin pays miners for the blocks of transaction data they analyze. Initially, the block reward for Dogecoin miners was intended to be random, varying between zero DOGE and 1 million DOGE.
In theory, mining rewards will continue until there are 100 billion Dogecoins in the market.
3. Accepting Dogecoin At Your Business
To start accepting crypto and Dogecoin as a business, you need to register for a crypto wallet or payment gateway. You can integrate cryptocurrency payment gateways offered by companies like BitPay into your online checkout.
Adding Dogecoin as a payment method has become popular among small businesses with access to cheap and easy to use platforms and applications. You can also accept crypto payments in-person by compatible QR code scanner.
4. Receiving Dogecoin Rewards
Crypto faucets are basically an easy, free and legal method of earning Dogecoin. Many of the popular crypto faucet websites like FaucetPay.io offer secure transactions along with real Dogecoin rewards at no additional cost.
On some crypto faucets you can earn the equivalent of $200 worth of Dogecoin per hour by completing certain tasks online.
5. Accepting Dogecoin Donations
Accepting Dogecoin donations will be an excellent method if you are making valuable content available to the public for free. This is also a method widely used by non-profit organizations, charities, schools and religious organizations looking to reduce the tax burden.
In this method you will be able to use your own crypto wallets and receive donations in Dogecoin without intermediaries.
Where To Store Dogecoin?
If you buy or earn Dogecoin, you will need a safe place to store it.
In this step you will have to decide between two types of Dogecoin wallets:
1. Hot Wallet
In this type of Dogecoin wallet you will store your Dogecoins at third-party providers offering independent online security. In most cases these providers are crypto exchanges that provide applications connected to the internet.
These solutions allow access to your Dogecoin wallet via a computer browser, desktop app or smartphones. This type of Dogecoin wallet is often targeted by hackers and is only recommended for temporary storage.
Use hot wallets only when you need to sell or spend your Dogecoins for your online business.
2. Cold Wallet
In this type of Dogecoin wallet, you will store your Dogecoins on devices that should never connect to the internet. In most cases, you will use encrypted devices like a USB drive that allow you to manage your Dogecoins free of hacker attacks.
Always use cold wallets if you want to safely store your Dogecoins for long periods of time. Unlike banks, anyone can create their own Dogecoin wallet for free. Dogecoins are held by their owners in an anonymous system.
This means that there are no account numbers, names, social security numbers or other identifying information linking Dogecoins to their owners.
How To Multiply Your Dogecoins Every Day?
There is no magic way to multiply your Dogecoin, just like there is no magic way to multiply other currencies. Dogecoin is like any other currency in the world today and you can multiply it every day using these three methods:
1. Crypto Casinos
Online gambling is one of the most popular branches of entertainment, and crypto gambling is growing. Introduced in 2011, the crypto gambling industry has grown by more than 500%. This is not surprising, as crypto gambling sites offer many player benefits including anonymity, amazing bonuses and promotions.
These casinos work in the same way as traditional online casinos, the main difference is that they allow players to deposit, bet and withdraw using cryptocurrencies such as Dogecoin, than traditional fiat currencies like US dollars or euros.
You can use your skill and luck to double your Dogecoin in a few hours.
2. Crypto Brokers
A crypto broker is a company that provides online financial services to users who want to buy or sell cryptocurrencies. To provide this service, a crypto broker charges trading fees for every trade performed by users of its trading platform.
Crypto brokers provide the best place for users who are new to the cryptocurrency market and beginners who want to buy Dogecoin or other cryptocurrencies.
You can use your skill and the leverage offered by the crypto broker to multiply your Dogecoin on every trade.
3. Crypto Trading Robots
In the world of cryptocurrency trading, crypto trading robots perform the task of trading one or more cryptocurrencies on one or more platforms automatically on behalf of the owner or user. Professional crypto trading robots work as long as they use predictive, and automated input or execution technology to make them profitable in crypto trading.
They are used to automate trading strategies and applied for purposes of amplifying trading profits.
Where To Exchange Dogecoin For Cash?
Like many other assets, Dogecoin can be bought and sold using fiat currencies such as the U.S. dollar. The price will depend on the current market value, which can fluctuate significantly from day to day.
You can easily sell Dogecoin or at least a fraction of it through the following methods:
1. Crypto Exchange
You will be able to easily sell Dogecoin on cryptocurrency exchanges to other investors who will pay you in cash using methods such as bank transfers, cash deposit, cash in person or cash by mail.
Currently, most Crypto Exchanges require personal documents to carry out KYC procedures, but there are still excellent options that allow you to sell Dogecoin anonymously.
What Can I Buy With Dogecoin?
Once you buy Dogecoin, you can use them in online transactions wherever they are accepted. Today, many businesses accept Dogecoin as a legitimate payment method.
To avoid falling victim to scammers when making purchases using Dogecoin, it is recommended that you always use some crypto escrow service.
Crypto escrow services are the key to secure payments using Dogecoin.