What is Dogecoin?

Dogecoin is Cryptocurrency making use of the Bitcoin blockchain technology.

This particular token started out as a “joke” parodying Bitcoin and using the Shiba Inu-internet mere (aka. Doge).

It is one of the “older” coins as it was launched in 2014 before the factual cryptobooom of 2017-2018.

Like other coins and tokens, it is possible to trade and exchange Dogecoin for other valuta. Both cryptocurrencies as well as classic fiat money (Dollars, Euros, Yen, Pound,…).

Trade and exchange can be done on a multitude of platforms and, being true to its ambition of being “the internet money of the people”, is exchangeable on almost ALL Crypto-exchange platforms.

Unlike its peers in cryptocurrency, dogecoin has no limit on the amoint of coins in circulation. There is no official cap which makes investors dub this coin as “an inflationary coin”.

Dogecoin uses proof-of-work consensus protocol (learn more about this in my book “Binary Gold, Crypto” ) and is scrypt-based which makes it akin to another big Cryptocurrency, Litecoin.

Opinion and analysis

Unlike other coins and tokens, Dogecoin is not a cryptocurrency to be held because of its value nor for its volatility (which makes other coins and tokens interesting to invest in or to speculate with).

While many an investor and Crypto-enthusiast will underline the great and light-hearted community behind this specific currency, they will in one breath DESTROY its viability.

I tend to disagree and will state that Dogecoin is a MUST HAVE for any beginning or experienced Crypto-enthousiast and/or investor.

It is true this is probably one of the worser coins where it concerns ACTUAL VALUE (due to its inflationary nature and unlimited market cap) and isn’t as big as others out there (like Ethereum, Bitcoin, Litecoin,…) where tens or even hundreds of millions are being dealt.

Dogecoin still remains one of the more (if not most) interesting coins not due due to its price volatility (like bitcoin) but also due to the nature and ambition of this coin.

Due to its inflationary nature, lack of market cap and low value it is an EXCELLENT coin to learn the ropes about cryptocurrency WITHOUT making big and risky investments.

Due to its age and popularity it is also being true to its ambition of being “ the internet money of the people” and is extremely easy to exchange on a variety of platforms (if not all popular and major exchanging platforms). Which adds to its EXCELLENCE of being a very worthwhile coin.

Due to the aforementioned reasons I advise in FAVOR OF this coin by reason it gives its owners, and those wanting to learn about speculation, crypto-exchanges (and trading) and cryptocurrency in general, the possibility to learn without too much effort and risk.

As a matter of fact, this coin deserves top spot by reason of its ease of access and availability.

Besides, its logo is one of the cutest and most endearing pictures of “mans best friend”.
What is to hate about that?

To learn more about Dogecoin click here.
To learn more about its great and memetastic community, click here . (Such wow)

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For the inquiring minds did I develop an extensive course on Cryptocurrency.
Find more about it here: The Ultimate Guide to Cryptocurrency.