Dogecoin went from meme to a serious marketplace contender. This particular crypto currency started out as a joke but from there we came one of the more popular crypto currencies on the market. Originally coming from an Internet joke is starting to grow in value and soon enough thousands of users. Surprisingly the Internet jokes themselves are what allow it to become the top cryptocurrencies across the market today.
What is Dogecoin?
This is an alternative crypto occurrence he designed to reach a bigger demographic than other crypto currencies. The developer behind it wanted to keep this particular currency fresh and fun to try and distance itself from bitcoin. The reason for this is that bitcoin earned a great deal of negative press after it was revealed that many people utilized bitcoin for black market style purchases on the silk Road. The use of crypto currency is not exclusively for nefarious purposes and is instead simply meant today as a way to make exchanges online without physical currency and with anonymity. For this reason, this particular crypto currency has sought to distance itself from other coins and has remained a fun alternative, staying hard and true to its roots as a joke.
The initial release date was back in December 2013 and there is a 100,000,000,000 coin supply. It has quickly become one of the top 10 coins on the Internet and there are several online exchanges which allow you to exchange your bitcoin for this coin. Other alternative currencies are trying to become something much bigger than a simple transaction platform but this one is not. Sticking to its roots this one has become a wonderful currency for people on Twitter or Reddit and has made its way into many funny posts and informational pieces.
How does it compare?
Dogecoin is actually similar to Litecoin. It is similar in the algorithm type. However, it has made a handful of changes. Starting with large coin amounts the maximum Is 100 billion which means that the claims are at a considerably low value compared to other alternative currency coins that have more limited numbers. Even with a market cap of $89 million every coin cost the same amount to purchase. So, if you want to provide other users with smaller amounts of money it is significantly easier to do with this particular point compared to other crypto currencies.
The philosophy behind this coin is that it should be used to reward people not only quickly but easily. In fact, it is primarily used today between different users on Twitter or similar websites to give each other a tip when they post something funny. It is a digital version of the change you have in your pocket or inside your car ashtray. You can give these coins other people as a quick tip for making your day better.
Some online and social media platforms created fully automated software that runs all the time and will automatically search out descriptions where people have pointed out for medical errors in the comments section of things like YouTube videos. When people make grammatical edits to other users some users give them a tip in the form of this crypto currency automatically as a form of more doing a good job.
And learned a bitcoin, this alternative crypto currency uses a mining system to keep it locked chain and it all words workers for doing so. However, it uses the scripts algorithm to avoid the mining of obscene amounts of coin. Initially, the mining provide random allows the business change to a bit more for workers your 2014.
Where do I pay with this crypto currency?
There are two primary ways that you can use this crypto currency to make payments. The first is to purchase products and services by merchants who accept that point. Online services that already except that point will take this alternative crypto currency as well. Alternatively, and perhaps most popular, is giving people a tip for posting something amusing, educational, informative, or otherwise entertaining to you. Using social media platforms you can get a low amount of money like $.20 for taking the time to make something good and not just putting garbage out. This process of giving people a tip not only the words them but it spreads the word about the philosophy behind this alternative currency. What is best is that if you want to take somebody who doesn’t have this particular wallet set up they will send them a private message telling them how they can get their money by setting up a wallet.
How to invest
As an investment class, crypto currencies, in particular, are speculative as is this one. The historical performance might be slowly climbing but that doesn’t mean that you will get a great future return. Investing in this particular crypto currency comes in three parts. The first is buying and holding your coins and then paying other people. This could go currency is still a funny one raising awareness through social media and online jokes but it has generated a great deal of positive community activity around it. You can join that community and figure out what else you need to know about this particular crypto currency, and in so doing increase the visibility of its and expose new people to information about it.
You can make money with this particular coin by producing great content online. If you do these people can send you tips directly to your wallet. Of course, you can also sell products or services online and accept cryptocurrency as payment.