What Is Dogecoin (DOGE)?

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Table of contents

  1. Empty
  2. What Is Dogecoin?
  3. How Does Dogecoin Work?
  4. How To Invest in Dogecoin
  5. Is Dogecoin Worth Buying?
  6. What’s the Difference between Bitcoin and Dogecoin?
  7. Final Thoughts

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{"blocks":[{"key":"deade","text":"You may have already heard about cryptocurrency, considering how the concept has taken the world by storm in recent years. The most popular form of cryptocurrency as of now is Bitcoin—a name you might have heard before. However, did you know there are other crypto forms on the rise too? Among those currencies is Dogecoin. A kind of cryptocurrency that originally started as a meme. Nowadays, though, Dogecoin is getting closer to becoming a legitimate legal tender. This article will answer in further detail your wondering questions about Dogecoin, including, what is Dogecoin, how does it work, and what makes it different from other cryptocurrencies?","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":655,"style":"color-rgb(0,0,0)"},{"offset":0,"length":655,"style":"bgcolor-transparent"},{"offset":0,"length":655,"style":"fontsize-11pt"},{"offset":0,"length":655,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

What Is Dogecoin?

{"blocks":[{"key":"6a9qe","text":"Dogecoin is a cryptocurrency that came to exist in the year 2013 by the hands of two American, software engineers; Billy Marcus and Jackson Palmer. In the beginning, Marcus had the idea to create an altcoin that’ll poke fun at Bitcoin. At the time, Bitcoin was still a rising star and many were confused as to what it is or how it worked. Hearing of Marcus’ plans, Palmer offered his engineering expertise, and together they founded the ‘meme version’ of Bitcoin, the Dogecoin. Marcus and Palmer marketed their new cryptocurrency as a joke. They even made their logo a picture of the Japanese dog breed, the Shiba Inu—a dog that regularly appears in memes.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":656,"style":"color-rgb(0,0,0)"},{"offset":0,"length":656,"style":"bgcolor-transparent"},{"offset":0,"length":656,"style":"fontsize-11pt"},{"offset":0,"length":656,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

How Does Dogecoin Work?

{"blocks":[{"key":"423dj","text":"Keeping how Dogecoin came about in mind, it’s hard to believe that later, it became another valid cryptocurrency. Nowadays, Dogecoin is competing with Bitcoin and other cryptos in the open market.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":196,"style":"color-rgb(0,0,0)"},{"offset":0,"length":196,"style":"bgcolor-transparent"},{"offset":0,"length":196,"style":"fontsize-11pt"},{"offset":0,"length":196,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"e5rtb","text":"Which begs the question: how does Dogecoin work?","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":48,"style":"color-rgb(0,0,0)"},{"offset":0,"length":48,"style":"bgcolor-transparent"},{"offset":0,"length":48,"style":"fontsize-11pt"},{"offset":0,"length":48,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"49f60","text":"For starters, any form of cryptocurrency depends on blockchain technology. The identity of who created this system remains anonymous till today. All people know is that they go by the name Satoshi Nakamoto. That said, blockchain refers to the secure ledger behind managing, recording, and distributing all altcoins, including Dogecoin. Think of blockchain as an endless, ongoing receipt that’s digitally keeping track of any crypto transactions.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":445,"style":"color-rgb(0,0,0)"},{"offset":0,"length":445,"style":"bgcolor-transparent"},{"offset":0,"length":445,"style":"fontsize-11pt"},{"offset":0,"length":445,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

How To Invest in Dogecoin

{"blocks":[{"key":"a4fsn","text":"Since Dogecoin has been made popular by famous celebrities, such as Elon Musk and Snoop Dogg, many people are wondering how they can invest their money in this crypto meme. Buying Dogecoin is similar to ordering any other altcoin. You first need to choose an investing app that allows the exchange of cryptocurrencies. The most popular applications for such a purpose are Gemini Offer and Coinbase. After submitting your personal information, you can search for Dogecoin or DOGE on the open market. Afterward, you’ll be able to order Dogecoin for as many dollars as you’re willing to spend. Money investors typically recommend partying away with no more than 5% of your money. It has to be an amount that you’re willing to lose considering how unstable Dogecoin can be.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":769,"style":"color-rgb(0,0,0)"},{"offset":0,"length":769,"style":"bgcolor-transparent"},{"offset":0,"length":769,"style":"fontsize-11pt"},{"offset":0,"length":769,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

Is Dogecoin Worth Buying?

{"blocks":[{"key":"flpfr","text":"Generally speaking, putting money in cryptocurrencies is a tricky business. The market is constantly changing and you’re always at a risk of losing it all in a blink of an eye. When it comes to Dogecoin, those facts don’t change. Not just that, but Dogecoin comes with its extra challenges too.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":294,"style":"color-rgb(0,0,0)"},{"offset":0,"length":294,"style":"bgcolor-transparent"},{"offset":0,"length":294,"style":"fontsize-11pt"},{"offset":0,"length":294,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"betl2","text":"For starters, Dogecoin was created with an unlimited lifetime cap, meaning, there’s no finite amount of Dogecoin out there. In other words, the concept of supply and demand doesn’t apply to Dogecoin since there’s an endless number of them.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":239,"style":"color-rgb(0,0,0)"},{"offset":0,"length":239,"style":"bgcolor-transparent"},{"offset":0,"length":239,"style":"fontsize-11pt"},{"offset":0,"length":239,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"d8o72","text":"How does this affect you as a buyer? It means that the value of a single Dogecoin is constantly changing. One day it’s less than a cent and another it’s 28 cents. It all depends on how high the demand for Dogecoin is. However, Dogecoin is easier to mine than other cryptocurrencies, including Bitcoin. Cryptomining here refers to the mathematical process involved in both finding and creating altcoins. ","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":403,"style":"color-rgb(0,0,0)"},{"offset":0,"length":403,"style":"bgcolor-transparent"},{"offset":0,"length":403,"style":"fontsize-11pt"},{"offset":0,"length":403,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"a5ilu","text":"When it comes to Dogecoin, it takes 0.003 days to mine a single currency. Mining for Dogecoin can then be profitable to you whenever its value is high.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":151,"style":"color-rgb(0,0,0)"},{"offset":0,"length":151,"style":"bgcolor-transparent"},{"offset":0,"length":151,"style":"fontsize-11pt"},{"offset":0,"length":151,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

What’s the Difference between Bitcoin and Dogecoin?

{"blocks":[{"key":"8p61s","text":"Out of the multiple cryptocurrencies on the market, nowadays only three altcoins continue to hold their ground. These three are Bitcoin, Ethereum, and Dogecoin.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":160,"style":"color-rgb(0,0,0)"},{"offset":0,"length":160,"style":"bgcolor-transparent"},{"offset":0,"length":160,"style":"fontsize-11pt"},{"offset":0,"length":160,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"cdkn7","text":"Is Dogecoin Better than Bitcoin?","type":"header-three","depth":0,"inlineStyleRanges":[{"offset":0,"length":32,"style":"color-rgb(67,67,67)"},{"offset":0,"length":32,"style":"bgcolor-transparent"},{"offset":0,"length":32,"style":"fontsize-14pt"},{"offset":0,"length":32,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"2h942","text":"Bitcoin is the first of the cryptocurrencies and is now the most powerful of them. There’s also a finite supply of Bitcoin—only 21 million coins exist on the market. As a result, there’s fierce competition when it comes to mining for Bitcoin. In addition, Bitcoin is never at risk for inflation since there’s a limit to how many of it you can find. Dogecoin, on the other hand, is known for its fluctuating values due to its infinite supply. Mining for Bitcoin, unlike Dogecoin, is a difficult process. The math behind Bitcoin’s blockchain technology is complex and requires a powerful infrastructure to solve its equations. This directly affects the environment too by increasing carbon dioxide emissions. This is why many opt for Dogecoin instead. It’s considered easier to buy than Bitcoin plus more environmentally friendly.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":828,"style":"color-rgb(0,0,0)"},{"offset":0,"length":828,"style":"bgcolor-transparent"},{"offset":0,"length":828,"style":"fontsize-11pt"},{"offset":0,"length":828,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"a0il","text":"What’s Better: Dogecoin or Ethereum?","type":"header-three","depth":0,"inlineStyleRanges":[{"offset":0,"length":36,"style":"color-rgb(67,67,67)"},{"offset":0,"length":36,"style":"bgcolor-transparent"},{"offset":0,"length":36,"style":"fontsize-14pt"},{"offset":0,"length":36,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"ao8hs","text":"Ethereum is said to be the midpoint between Dogecoin and Bitcoin. It is, however, more valuable than Dogecoin. Ethereum has an unlimited supply just like Dogecoin. The main difference between them lies in the fact that buying Ethereum comes with conditions. Cryptocurrencies are open to the market, meaning, anyone can buy them. That’s not the case with Ethereum. This altcoin can only be found on decentralized applications and no transactions can happen without signing smart contracts first.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":494,"style":"color-rgb(0,0,0)"},{"offset":0,"length":494,"style":"bgcolor-transparent"},{"offset":0,"length":494,"style":"fontsize-11pt"},{"offset":0,"length":494,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}

Final Thoughts

{"blocks":[{"key":"coeul","text":"What is Dogecoin? It’s one of the three cryptocurrencies that are continuing to gain popularity in the open market. The origin of Dogecoin might have been a meme, but ever since then, it has made a name for itself as a legitimized form of online money. ","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":254,"style":"color-rgb(0,0,0)"},{"offset":0,"length":254,"style":"bgcolor-transparent"},{"offset":0,"length":254,"style":"fontsize-11pt"},{"offset":0,"length":254,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}},{"key":"cnl0g","text":"That said, Dogecoin has its downsides, as is the case with cryptos. The unlimited lifetime cap and the unstable investments are just a few of those disadvantages. It’s up to users though, whether they decide to invest in it or not.","type":"unstyled","depth":0,"inlineStyleRanges":[{"offset":0,"length":231,"style":"color-rgb(0,0,0)"},{"offset":0,"length":231,"style":"bgcolor-transparent"},{"offset":0,"length":231,"style":"fontsize-11pt"},{"offset":0,"length":231,"style":"fontfamily-Arial"}],"entityRanges":[],"data":{}}],"entityMap":{}}