The market of cryptocurrencies is booming and the investors are constantly looking for different cryptocurrencies to invest in. There are many prominent cryptocurrencies such as Bitcoin, Ethereum, Ripple, etc in which the cryptocurrencies are constantly investing. There are many other cryptocurrencies that have the potential of becoming a worthy cryptocurrency to invest in. And Dogecoin is one of those cryptocurrencies. The Dogecoin is governed by the same Blockchain technology that Bitcoin or any other crypto coin uses. This makes Dogecoin decentralized and an anonymous medium for transactions.
Investing in the right cryptocurrency is essential to make a profit. Dogecoin seems like a perfect option for investing since the data of the Dogecoin looks promising. It is also an appropriate platform for making day to day transactions. It is also referred to as an investor’s bread and butter because of its user-friendliness with investors. Here is a detailed view of the developing cryptocurrency, the Dogecoin.
The name Dogecoin was derived from the Japanese breed of dog, the Shiba Inu. It was actually an internet meme which was popularly known as the “Doge” that was then later accepted by Dogecoin as their official mascot. It was therefore introduced as the “Joke currency” in the December of 2013. The Dogecoin was instantly famous because of the Doge meme which had 100 billion coins that were in circulation by 2015. And after that Dogecoin was completely accepted by all the investors around the world.
The Dogecoin, just like any other crypto coin is prone to volatility and market speculations. There cannot be any future predictions regarding the market of the Dogecoin. Although the previous market data says a lot about the success of Dogecoin. In the year of 2017, the Dogecoin witnessed some exponential growth in the market capital and by the start of 2018, the market capital was above $2 billion USD. Many market experts believe that this growth can be seen again in the near future. But in the end, the decision completely depends upon the investor.
The Dogecoin can be bought from many online platforms but you have to make sure that the seller is completely legitimate. There are many other methods through which Dogecoin can be obtained. The most common method that is used by the investors is exchanging. These exchanging platforms are available online and with the help of which you can Exchange Dogecoin in place of other crypto coins that you don’t need.
The Dogecoin can be stored in the personalized wallet of Dogecoin. The download and installation of Dogecoin wallet are extremely easy and can be done in a matter of minutes. The Dogecoin can also be stored on exchange wallets or other wallets that Dogecoin supports.
The Dogecoin is not only a cryptocurrency but it is also a community that is created by a team of volunteers. It is often perceived as a joke currency by the elite cryptocurrency community but the increasing market demand and the support of the community have empowered Dogecoin to be successful. The points given above will hopefully help some investors consider the power and potential of Dogecoin.