Table of Contents
About Dogecoin:
I believe everyone having this question in their mind, What’s going on with it? Let me break this down to get clarity on this topic.
What is Dogecoin?
Dogecoin is an open source peer-to-peer cryptocurrency. It was launched in 2013. Its logo is a popular meme of a Shiba Inu dog. Dogecoin has been known for its charity donations and other good causes. Dogecoin can be used to buy goods and services. Social media users give dogecoin tips to other users for providing good content. Transactions are much faster and cheaper than BTC.
It’s invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant, fun, and free from traditional banking fees. Dogecoin’s price on launch in 2013 was $0.000232, so the rise to around $0.05 represents a 21,000 percent increase.
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Dogecoin started 2021 on an optimistic note. It doubled on January 2 from $0.005405 to $0.011427. Later it started trading at $0.007432 on January 27. Before the most recent rally, it took it to $0.07818.
According to Wallet Investor, DOGE could have another increase to its double later this month going from $0.05 to $0.10. Hopefully, it’ll reach up to $0.0390 by the end of December 2021.
What Technology used in it?
Doge cannot be mined by ASICs and is only mineable by computers. Dogecoin’s block time is 1 minute whereas Litecoin takes 2.5 minutes to add a block. Its mining reward limit is 10,000 from 2015. Earlier reward limit was random. In 2014, the first Dogecoin ATM was launched in Vancouver. Dogecoins provide superfast transactions, with no network congestion and a transaction fees of 1 dogecoin.
Is it worth buying Dogecoin?
Dogecoin may be used for payments and purchases, but it’s not a very effective store of value. This is chiefly because there is no lifetime cap on the number of Dogecoins that may be created by mining meaning that the cryptocurrency is highly inflationary, by design
Will it make me rich?
Yes, people have indeed made plenty of money from buying Dogecoin, and although it was very much initially intended as a joke currency, if you can afford to put a small amount of money into it then it might not be such a bad idea.
How many Dogecoins make a dollar?
Conversation Table (with latest exchange rate)
1 US Dollar = 2.896211 Dogecoin
2 US Dollar = 5.792422 Dogecoin
3 US Dollar= 8.688632 Dogecoin
5 US Dollar = 14.481054 Dogecoin
Where is the best place to buy Dogecoin?
Cryptocurrency exchange platforms provide the most convenient ways to buy Dogecoin. You can make the purchase on Coinbase, Robinhood, and Kraken, among other such platforms.
Pros & Cons:
Pros:
- faster confirmation times
- lower transaction fees
- lower value which helps in tipping and gaming currency
- friendly community
- devoted community
Cons:
- less stable
- less mature
- not widely accepted
- less secure
Can i buy & sell Dogecoin in India?
BuyUcoin is an exchange that provides buying and selling Dogecoin in India as well as other cryptocurrencies.
Buy Dogecoin in India — Step by Step Guide For Beginners
Step 1 — Open a Digital Wallet
A digital wallet is where you hold your cryptocurrencies and interacts with others via blockchain technology. There are many providers of digital wallets, however, it is important to make deep research before you decide which one is the best for you. Currently, the most popular digital wallet provider in BuyUcoin.
Step 2 — Register & Open an Account
Once you enter BuyUcoin/signup, register and open an account that can provide you with their service. Select the type of your account either individual or corporate. Select your country and agree on the terms and conditions to register your account for crypto trading.
Step 3 — Complete KYC
KYC and AML are mandatory for Indian jurisdiction. Your data is safe and encrypted and is stored in Indian data centers only. You will be redirected to a different URL to complete your KYC. Please be ready with your recent selfie. You will need the images of your pan card. You will need the mobile number with you which is linked with your Aadhar.
Step 4-Google 2 step Verification
To use 2FA you will have to install an Authenticator app on your smartphone or tablet. Once enabled you will be asked to provide an additional six-digit one-time password along with your email and password every time you log in to your BF account. This works only when signing in with an email and password. When using Facebook or LinkedIn you can enable 2FA with your social media provider settings.
Step 5-Add Bank details
Add the credentials of your bank name, holder account name followed by account number, and IFSC code details.
Can I Use Regular Money to Buy Dogecoin?
Yes. Based in India, BuyUcoin is an exchange platform that enables users to buy and sell Dogecoin at best price and other cryptocurrencies with INR. Buy many different cryptocurrencies with INR on this Indian-based exchange. Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy Dogecoin.
Which app support buying Dogecoin in india?
There are lot of apps available where you can buy Dogecoin. You can buy Dogecoin on WazirX APP Or Coinswitch APP in india. Check out both these app and whatever app you think best for you use it to buy Dogecoin.
Can Dogecoin Reach $100?
With such a rapid rise in prices, many people have started to wonder if Dogecoin will ever reach $100 dollars in value. However, there are a ton of this to consider when thinking about the price of Doge. First, it’s an inflationary coin, meaning it has an endless supply and billions of coins are minted each year, so as the demand increases the supply also increases, which will bring down the prices in long term.
Moreover, Dogecoin wasn’t made with a purpose unlike coins like Bitcoin and Ethereum, so it’s just a joke currency and putting all your money into a currency made as a joke can be risky. There are more than 110 billion Doge minted to date and if the price $100 dollars, that would make the market of Doge at around $18 trillion, which is more than the GPD of even the most developed countries. So, highly unlikely Doge will ever reach $100.
What is the future of Dogecoin?
One is the recent big news that Bill Gates has invested in Doge Coin, which has raised a lot of concern and doubt in the community of Dogecoiners.
The most likely scenario is that this new virtual currency will find its way into the public consciousness and will begin to make some waves on Wall Street and Main Street. Most investors would agree that the Internet is the wave of the future, and virtual currencies may very well play a major part in the future of Dogecoin as well. There is quite a bit of buzz out there right now, but only time will tell.
We believe Crypocurrency network, Exchanges, Marketplaces are next big thing in terms of digital currency growth.
People began investing in the currency, promising to push the value sky high. At times, the hashtag #DogecoinToTheMoon trended on Twitter as speculators looked to get more people on board. We can now count the Oakland A’s amongst those willing to invest in this cryptocurrency.
Join us at the ballpark as the Blue Jays roll into town!
— Oakland A’s (@Athletics) May 3, 2021
Two-seat pods in the Plaza Infield are available for 100 Dogecoin for the series.
🔗: https://t.co/RizI8lp46i pic.twitter.com/wdDROnpLJc
What’s shortfundly plan to do with Dogecoin?
We would like to introduce Dogecoin and crytocurrency usage in media industry. First step, we planning to integrate in our OTT platform subscription Lifetime FEE with Dogecoin.
Whenever users wants to promote, review for their short film or webseries they can buy our shortfundly promotion packages using Dogecoin. We plan to accept this Dogecoin. It’s in progress. We will make announcement of it soon.
Filmmakers club payments will get accepted via Dogecoin to help and grow shortfundly community platform. Let more plans to have in our pipeline to deeply integrate Dogecoin throughout our system.
Feel Free to add your comments about Dogecoin.
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