What is Dogecoin (DOGE) and how it works

A couple of weeks ago we added a new cryptocurrency - Dogecoin (DOGE). In this article, you will learn more about this cryptocurrency.

What is Dogecoin?

Dogecoin or DOGE is a cryptocurrency created by Jackson Palmer and Billy Markus. They were 2 enthusiasts who wanted to create a payment system as a joke. They were trying to make fun of the speculative cryptocurrency market. Yet despite the fact that this is a satirical coin, a lot of people started seeing it as an investment.

The main characteristic of the coin and what a lot of people understand right away is the face of a Shiba Inu dog, which is seamlessly connected with the DOGE meme. This is where the namesake and logo come from. The coin has been around for a long time, and it has a market capitalization of over $85 billion in 2021. It’s also a shirt sponsor for the Watford Premier League Club.

Many are supporting this coin, with Elon Musk being a prime example of a person that’s seamlessly supporting the coin and he boosted its value over the years.

When was it created?

Dogecoin was officially launched in 2013 on December 6th. Within just 30 days, the Dogecoin.com website had 1 million visitors. Palmer is the person who has made this idea a reality. At that time, he was involved in the marketing team for Adobe Systems and he acquired the Dogecoin.com domain and added some information about the coin. Markus started working closely with him in order to create the currency. He designed the protocol based on Litecoin and LuckyCoin. Since they were using the crypt tech, they were unable to use the SHA-265 bitcoin mining tools, and thus they had to rely on ASIC and FPGA devices that were more challenging to access.

Dogecoin benefits

Dogecoin can be used to send funds to other people quickly and without any issues. On top of that, this shows a spirit of freedom, of not being controlled, and people rally behind that. They are using Dogecoin as a way to express themselves, invest, and even make some money by trading it. The fact that no one is regulating Dogecoin and you can use it the way you want adds to the power and quality of this coin, and that’s exactly what makes it such a relevant option at this particular time.

Where can you use Dogecoin?

There are many companies that are accepting Dogecoin as a payment. For example,Dogecoin is accepted at Post Oak Motor Cars, Kessler Collection, AirBaltic, Easy DNS, STEEM, Vapeur Canada, Nodex, Mike Connel Ministries, MyNerdLife, Meltdown Comics and many others. The cool thing about Dogecoin is the fact that you are able to use it without any issues and the number of companies accepting this coin is increasing exponentially all the time. That manages to make it a very good investment.

Despite the fact that Dogecoin lacks mainstream utility, more and more companies are accepting Dogecoin and they continue to rally behind its meaning and ideas. The lack of intrinsic value still doesn’t matter, as Dogecoin is all about expressing the internet freedom, and that means it will not go away. There are even chances it might grow in price, as more and more uses will be found for it in the future!

How to exchange Dogecoin?

If you want to exchange Dogecoin safely and with low commissions then XMLGold (online e-currency exchange) will be a good choice for you. Here you can fast exchange Dogecoininto the most popular digital currencies like Bitcoin, Litecoin, TrueUSD, USD coin, Ethereum, Tether, AdvCash, Payeer, Perfect Money, XMLToken, Sepa transfer, Bank transfer, SWIFT transfer, Perfect Money e-Vouchers EUR/USD and many others.

How does it work?

What you need to do – just select the currency which you want to exchange on the left side and currency which you want to buy on the right side. Enter the amount you need, fill your e mail address and press – continue.

Note: If you want to buy or sell more, then click on the button – „Extend Reserve / Buy, Sell More”. Support in the short term will find the necessary funds for you.

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