Dogecoin is a digital currency that was created in 2013. It has been called the “joke currency” of cryptocurrency, but it’s not all fun and games – there are a few things you should know before you decide to buy Dogecoin. In this blog post, we’ll take a look at few tips that will help you make an informed decision about deciding on how to buy dogecoin.
1. Dogecoin is a very young cryptocurrency
The Dogecoin we know and love today started in 2013 to become a fun and friendly internet currency. It has since then become one of the most popular cryptocurrencies on the market.
However, it’s still considered to be relatively new compared to Bitcoin or Ethereum – both of which have been around for over seven years at this point.
If you’re thinking about investing in Dogecoin, remember that there are many other options out there as well – some older than others, so keep your eyes open when making your decision!
2. Dogecoin is mainly used for transactions, not speculation
In terms of the number of people who use Dogecoin to buy and sell things rather than trade them in an attempt to make a profit from price fluctuations – Dogecoin far surpasses most other cryptocurrencies. This means that there’s a much lower chance that you’ll be able to just sit on your investment and watch its value go up over time.
If you’re looking at cryptocurrency as a long-term way to diversify your portfolio (and get rich quick), then maybe this isn’t such a good option for you because prices are likely going to fluctuate quite regularly while still being somewhat low compared with more popular altcoins like Bitcoin or Ethereum.
3. Dogecoin is a great way to teach your children about cryptocurrency
If you’re interested in teaching your child more about cryptocurrencies, Dogecoin could be a fun alternative. It’s much easier for someone who isn’t familiar with blockchain technology or any other type of cryptocurrency investing in learning the basics behind this particular altcoin.
Of course, there are many ways that you can do this without buying it yourself – but if you want them to have their wallet and start learning from an early age, then purchasing some tokens might prove worthwhile.
4. How easy is it to buy and sell Dogecoin?
When deciding whether or not you should invest in Dogecoin, it’s important to remember that one of its primary uses (at least for now) is transactions. It was designed to make cryptocurrency more accessible for everyone to use – even those without any prior experience investing in cryptocurrencies.
This means that if you’re interested simply by how easy it might be to get your hands on some tokens, this could also help sway your decision. Of course, there will always be times when a transaction doesn’t go through immediately due to technical issues – but generally speaking, trading can be pretty simple unless an error occurs.
5. If you’re interested in Dogecoin, remember to keep an eye out for forks
Since this is one of the most popular cryptocurrencies on the market right now – it’s common for other cryptocurrencies to try and piggyback off its success by creating their version! These are called “forks” because they split from the original currency into something slightly different.
Due to how young Dogecoin still is, quite a few successful forks followed soon after. Although some can be worth looking at if you plan to invest in cryptocurrency long-term, it’s important not to get too distracted by them since many will eventually fizzle out or fail altogether.
6. Dogecoin has a speedy transaction time
One of the most impressive things about Dogecoin is its rapid processing times. Many altcoins (like Bitcoin and Ethereum) take ten minutes or longer to process transactions, but in comparison – this one can do it in under a minute!
Of course, this will vary depending on how heavy network traffic is at any given moment. Still, when you consider that some currencies require well over an hour for each action taken – then it’s easy to see why many traders move onto other options
Conclusion
Even though Dogecoin has had some rough patches in its relatively short existence, it is still one of the most popular cryptocurrencies on the market. If you’re interested in buying any tokens – then research about it properly and go on.