Everything You Need to Know About Dogecoin

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Many people say that “money” is the root of all evil. But in reality, this statement is not true. I think the paucity of money is the root of every problem and evil.

 

We are living on the earth, we need money to survive. If you want to go anywhere, you need money. If you want to eat something, you need money to purchase it. If you are living on this earth, you can’t ignore the money.

 

If you go back into history, money is a medium of transaction. The currency’s value is decided from the value of the asset. Suppose you have 1 kg mango and if you sell this mango to someone, what you will receive. Of course, you will receive an equivalent amount of money from the buyer.

 

That means your mangos value is transferred into the money. And there are hundreds of currencies available in the world. Each country has its own currency, and currency value also varies from country to country.

 

This is the 21 century, and this a digital era, in today’s time there are everything is digital. There are digital marketplaces (Amazon, Daraz, Flipkart, etc.), there are Digital wallets, there are Digital banks, there are Digital businesses, and there are almost everything is digital.

 

You know currencies are also digitalized, Which means there are digital currencies. You know there are already 100+ currencies made up and some of them are so popular, such as Bitcoin, Ethereum, and Dogecoin. It’s also called cryptocurrency.

What is Dogecoin?

If I told you in the simplest words, Dogecoin is a digital currency. If we look at it from the macro lens (I mean broad view), Dogecoin is just like other cryptocurrencies, It was launched by two gentleman software engineers Billy Markus and Jackson Palmer in 2014.

 

Just one year ago, Dogecoin was almost one unknown and really low-valued digital currency. But in the recent year 2021, Dogecoin came into the trend, its current (June 2021) value is $0.30, but 6 months ago its value was $0.004.

 

This rapid increment had happened on the Dogecoin’s price due to the decision of entrepreneur and business magnate Elon Musk. Because he had started promoting Dogecoin, he had started working on Dogecoin.

 

All cryptocurrencies are based on blockchain technology. But if we look into the micro level, each cryptocurrency has its own unique USP. Dogecoin is quicker and easier for miners, which means miners can easily solve the problems.

Where it takes 10 minutes for the process to ratify new blocks on the Bitcoin blockchain, it takes only one minute on the Dogecoin blockchain.

Gary DeWaal

Should We Invest in Dogecoin?

Investing is a good habit, many people invest in gold, real estate, property, stock, mutual funds, and cryptocurrency. And if you are asking this question that means you are also a rising investor. But investing without knowing reality is a really really bad habit.

 

I am not a financial advisor, so I think I can’t be able to give you a piece of solid advice to invest in Dogecoin. But I can show you what other big financial advisors are saying, and in the end, I will share my personal opinion also.

 

According to Forbes Advisor David Rodeck,  Benjamin Curry:

Since there is no lifetime limit on the number of Dogecoins that can exist, and millions of new Dogecoins are released onto the markets every single day, there is very little incentive to hold the cryptocurrency for the long term. Bitcoin continues to rise in value because of the system’s lifetime cap on the number of coins that can be created.

 

“Doge really is less like Bitcoin and more like DASH or Bitcoin Cash, where the express goal is a spending currency,” said White.

 

Historically, the per coin value of Dogecoin has been very low, around $0.003 per coin for most of 2020, so people were more likely to give them away. “Users on social platforms, like Reddit, Twitter, Facebook, and others, can use Dogecoin to reward, or “tip,” each other for posting content,” said Gray.

 

The gains in Dogecoin that have been seen in 2021 may not be sustainable over the longer term. Whether the crypto’s tipping and donating culture will continue remains to be seen.

 

If I share with you my personal opinion about Dogecoin investment, I recommend you to follow the Try and Test methodology. The future is unpredictable, we don’t know exactly what will happen tomorrow. Look at the chart of Dogecoin and listen to the advice from industry experts and take action according to your heart.

How to Buy and Sell Dogecoin?

You can buy and sell Dogecoin using a cryptocurrency exchange platform, there are hundreds of platforms are available on the Internet. But not all the platform support the Dogecoin and not all the platform are trustable.

 

Binance, Huobi, Coinbase, Kraken, KuCoin, and CoinDCX are some of the popular cryptocurrency exchange platforms. If you search more about other platforms, there you will find 300+ cryptocurrency exchange platforms available.

 

We did some research and experiment using different-different platforms, which one platform is the best to buy, sell, and trade Dogecoin. And we found the Binance is the best platform, we only saw it from Dogecoin’s point of view. In some cases, other platforms might be better than Binance.

 

To start buying and selling Dogecoin using the Binance platform, you need to follow these steps.

How to Mine Dogecoin?

Cryptocurrency mining is just like mining gold from the land. In the crypto world, the miner is just like an accountant, who handle the ledger book of cryptocurrency transactions.

 

Actually, the miner is not a living human, the miner solves a lot of mathematical problems. But if you want to start mining, you don’t need to solve those problems. I know it’s a little bit confusing, Right?

 

Because many people think, we need to solve all those mathematical problems manually, so they think mining is really hard work and we might need to become extraordinary in math.

 

Okay, let me tell you the reality of what is cryptocurrency mining, and if you are zero in math how you can also start mining from today. And as a miner how you can start making money?

 

Mining means managing the ledger book of cryptocurrency transactions and solving complex mathematical problems. But you don’t need to do all these things manually, your computer does all the tasks for you.

 

In reality, your computer is an actual miner. you just need to install mining software on your PC and then you need to keep proving regular electricity power and internet access.

Follow these steps to start mining and start earning cryptocurrency from today.

That’s it, next you just need to look at the electricity power supply and internet connection on your PC. When you mine 30 Dogecoin, it will automatically be transferred into your wallets. I think this is a good way to make a passive income.

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