Technology

Interesting facts about Dogecoin

Interesting facts about Dogecoin

Dogecoin history

The history of Dogecoin was started as a funny variation of cryptocurrency based on Litecoin technology. Funny Dogecoin’s core is connected to a famous internet meme representing a Shiba Inu dog with a goofy face. Nevertheless, this easygoing beginning led to a grand success. To date, the Dogecoin community is continuously growing and Doge seems to be some kind of a cult for people who use it. Thanks to numerous followers, Dogecoin is popular and recognized among many businesses and online resources as a reliable payment method. For example, Dogecoin is officially accepted for betting in online casinos that make Doge gambling a good alternative to other gambling activities. Other industries accepting Dogecoin are trading, sports betting, online shopping, investment, etc.

The main difference between Dogecoin from Bitcoin is that it has bigger potential and does not support a hard supply limit of coins that are possible to mine. That makes it attractive for investors, however not many people believe it would ever be able to reach a competitive Bitcoin price.

Interesting facts about Doge

  1. The easiest way to buy Dogecoin is to create a wallet and then use one of the reliable exchangers. Note that you will need to have Bitcoins that will be exchanged to Doge.
  2. Dogecoin has several safety levels and is almost irresistible to hacking.
  3. Dogecoin was created as a prototype of Luckycoin, which is based on Litecoin technology.
  4. Doge gambling allows one of the highest withdrawal speeds and it is one of the safest ways to provide online casino activities. Secured payments within the Dogecoin chain are beating fiat currencies’ level of safety in many ways. Dogecoin gamblers are frequently getting lower fees than those gamblers who prefer betting with fiat currency.
  5. Dogecoin’s mining process is very fast. Within the first year of its existence, 100 billion coins were mined. Transaction fees within the Dogecoin network are about 1 DOGE per transaction.
  6. The Dogecoin community is different from other cryptocurrency holders’ unities. They strongly believe in Doge’s bright future and are sure that one-day Doge will go to the moon literally.
  7. One of the widespread ways of Dogecoin use is giving tips. They are awarded almost the same as “likes” in social nets. However, these tips award users with Dogecoins.
  8. Jackson Palmer who is a creator of Dogecoin is proud that without any software updates within several years the market cap for Doge is still over  USD 500 million.
  9. Dogecoin is using a proof of work system of transactions verifying. The same system uses Bitcoin.
  10. Dogecoin is widely represented in social media such as Twitter and TikTok. In summer 2020 the Dogecoin TikTok challenge popped-up encouraging people to invest in this cryptocurrency.

Where Dogecoin is used

The number of Dogecoin opportunities is wide. Here are the most widespread fields that benefit from Dogecoin using:

1. Dogecoin casino Dogecoin gambling is one of the safest ways to provide online casino activities. Among the undeniable benefits this cryptocurrency holds are the following:

  • Safe transactions. Secured payments within the Dogecoin chain are beating fiat currencies’ level of safety in many ways. Dogecoin has several safety levels and is almost irresistible to hacking.
  • Speed of transactions. Dogecoin is faster than Bitcoin.
  • Dogecoin gamblers are frequently getting lower fees than those gamblers who prefer betting with fiat currency.
  • Provably fair play is one of the main Doge games’ online advantages. All the activities that gamblers’ provide are under control.

2. Online shopping – a lot of shopping websites use this cryptocurrency as a payment method. Customers who use Dogecoin are getting many bonuses and the best prices.

3. Crowdfunding. The Dogecoin community provides a lot of charitable and crowdfunding efforts.

4. Investment – some analytics find Dogecoin investment discoverable, but the Doge community believes in its continuous growth.

Conclusion

Nevertheless, Dogecoin was started as a funny offer to invest in a new Litecoin prototype, to date, it has a huge army of fans and bright prospects. The Doge community is its biggest asset; they likely support the Dodge ecosystem with charitable activities and funding efforts.

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