Cryptocurrency Dogcoin. How the comic cryptocurrency helped users.
Since its launch in 2013, Dogecoin has helped many people comprehend the characteristics of crypto currency. By the way, initially Dogecoin was not developed as a serious project but rather as a joke. Even its logo speaks for itself; this altcoin was and continues to be associated with the meme-dog Shiba Inu.
Dogecoin is now considered as a training tool for novice investors. With the growing interest from the broad public towards crypto currencies, Dogecoin is likely to have a growing price chart in 2021. In addition, it was used for charitable purposes at various times; it was used to sponsor sports organizations and projects for providing those who need drinking water.
Traders do not remain indifferent to Dogecoin blockchain technology. The whole secret of popularity, based on the results of scientific research, is that DOGE is approximated as much as possible to real money. Although at the same time its rate is lower than for other digital currencies. It is also worth noting that the creators of DOGE have established a large limit for issuing crypto currencies. Dogecoin blockchain size can be expressed in the following figures:
- 1 DOGE = $0.0064;
- Market capitalization - $727,881,954;
- Average commission - $0.009;
- Block time (average time between blocks) - 1m 2s;
- Number of blocks - 2,108,802
- Block size - 9.613 Kbytes
What is the difference between Dogecoin and other crypto currencies
- Unlike deflationary Bitcoin, Dogecoin is an inflationary crypto currency. There are some reasons why you should pay attention to it:
- This crypto currency, which helps newcomers to get acquainted with this market, has a high liquidity compared to other tokens of the same low price level.
- Dogecoin reached the 35th place in the blockchain rating for capitalization, which shows the ability to move upwards because of active trading, which is largely due to the price affordability.
- Dogecoin is very popular with Asian investors, especially in Japan and Korea. Support from the richest countries of the region provides an ever-growing demand.
- The Dogecoin community has passed the test of time. The foolish currency was able to stay afloat, while many promising projects are out of sight now.
- DOGE has a short transaction processing time and a small commission. Fast and cheap transactions are just what people need.
Of course, there are a number of pitfalls around Dogecoin, which was repeatedly used in fraudulent schemes and was susceptible to hacking. Nevertheless, the DOGE seems to enter a new phase of its existence.
DOGE cannot be called one of the leaders in terms of growth in 20121. The result is impressive and some indicators imply a high probability of continuing positive dynamics next year. For example, the daily trading volume has recently been about $100 million, which distinguishes Dogecoin from some of its closest competitors. As for the price of the crypto currency itself: in January the exchange rate fluctuated around $0.0002, in September-October it stabilized at $0.001 and now it is about $0.0092 showing the growth of more than 4,000% since the beginning of the year.
The prospects for Dogecoin
Even despite repeated breaks and losses, the Dogecoin community remains united and supports this crypto currency in good stead. It is unlikely that DOGE will reach $1; the $0.1 margin looks more achievable. A large increase in the value is not expected because initially the creators made the mistake of releasing a large number of coins, which now hinders its growth and profit.
The rate is growing but so far, according to experts, this is due to the fact that Bitcoin has increased the commission for exchange and now it is more profitable to look for more interesting offers for earning income on crypto currencies.
Some features can affect the increase in demand:
- The human factor that always helps this project. During its existence, Dogecoin has formed a wider and more loyal fan community than any other altcoin. This community advocates DOGE asking different trading companies and service providers to accept the cryptocurrency as a form of payment.
- A high degree of exposure in the media caused both by the rapid news flow on this currency and by the interest in the project history itself. Absurdity and incredible stability at the same time attract a lot of attention.
One of the apps
You can download Dogecoin blockchain wallet, which makes it possible for you to carry everything with you. You will be able to receive payments quickly and reliably. Dogecoin wallet is the first app for this type of crypto curremcy and, perhaps, the safest.
- You do not have to register, have a web service or a cloud.
- It displays the amount of bitcoins in DOGE and mDOGE.
- Exchanging to and from fiat currencies.
- Supports sending and getting funds via NFC, QR codes or Dogecoin URL.
- Address book of frequently used addresses.
- System notifications on accepted coins.
- Quick validation of the transactions so you can download blockchain faster.
- Where to buy Dogecoin crypto currency
Thanks to the active promotion of the project team, the DOGE is represented on many exchanges including Cryptopia, Poloniex and HitBTC. Some exchanges do not offer straightaway purchase/sale of alternative crypto currency through a bank account or transfer but almost all support the main crypto currency - Bitcoin. In this instance, you must first buy BTC through an accessible exchange point and then you can carry out operations with the preferred crypto currency.
Dogecoin, despite all the jokes, has gained worldwide fame and interest from Internet users. If you just joined the ranks of investors in the digital industry, then Dogecoin is the tool that will be an excellent option for training.