As the number of Altcoins continues to penetrating the global digital money market, latest technology has become the key driver in traction and gains. Dogecoin (DOGE) seems to be going wild despite the current turbulent crypto-sphere. Launched in 2013, the coin has been able to navigate the murky waters of digital coins.
DOGE started as a fun- meme platform in 2013, it recently broke loose to hit the $ 1billion market cap; a true proof of how far digital currencies have come after Bitcoin was created. In less than five years, the coin has grown with many users and stakeholders putting in more investments.
What is Dogecoin (DOGE)?
Simply put, Dogecoin (DOGE) is a peer-to-peer system that has no central authority and helps in facilitating easy and fast sending and receiving money online anywhere where you have access to internet. Transactions have fun part of the coin; DOGE is a fun friendly mascot, an online meme that borrows heavily on a Japanese dog character, Shiba Inu.
The aim of the coin is to engage its users in a fun way while interacting with internet money. This is for people like you who love have fun online. The DOGE community has grown in vibrancy and new members get astounding support from other users. Once you become a member, you never have a dull moment.
What sets Dogecoin apart from other cryptocurrencies is that you add value to other content creators by “tipping” them. This is a way of appreciating their content while at the same time add value that other participants can use online. When you upvote or recommend other users content, you both earn DOGE tokens.
Getting started with Dogecoin is simple; all you need to set up your wallet in. This is where you your coins. Your wallet is where you store and transfer coins from to support other community members. Increased interaction on the platform means better earnings.
The good thing about Dogecoin is that there are no limits on the amount of coins that can be minted or mined. Currently, there are over 112 billion DOGE coins in circulation (CoinMarketCap). The DOGE coin is traded at $0.00786 in mid-February and seems to be on the up-trend. Early January, the coin value nearly doubled to stand at $2 billion. This might appear small for short term investment when compared to $270 billion behind Bitcoin success.
Why should You Invest in Dogecoin (DOGE)?
Dogecoin was created to ride on Bitcoin boom but with a twist. The founder, Jackson Palmer can look back as smile at what he has created; the investment potential is huge. Its steady growth in the otherwise competitive market has transformed the platform from a small circle of geeks to a value coin that has defied the odds to rise in value.
The coin continues to gain a positive reputation in unique sponsorship deals through their charitable community. After the 2013 hack, the community came together to raise funds to safeguard its future. Dogecoin has raised funds to support water projects in Kenya, raised funds for Olympic Games participants and help retired NSCAR driver Josh Wise. These partnerships have brought the less known coin into the limelight and thus opening unique investment openings for all.
Why Buy Dogecoin Instead of Bitcoin?
This question may sound like a hard nut to crack; however; with enough trust on the platform, you appreciate that scarce goods hold value compared to those readily available. With cryptocurrencies, common sense does not dictate the future behavior of a particular coin or token. Unless a digital currency is used in transactions, it does not hold any intrinsic value and that is the premise Dogecoin rides on.
Dogecoin is far much superior than Bitcoin (BTC) in terms of design and route to the market. Their target audiences are different and there is too much thought behind DOGE. This means it is the right choice that you can use it to enter into the crypto-sphere investing for long term value proposition.
Dogecoin offers you100% anonymity. It is fully decentralized and amazingly secure. Once you create a wallet, you can buy goods and services, exchange or trade it for other virtual and convectional currencies. The coin is transitioning itself from the “Joke Coin” to mainstream coin subtly.
With a tight knit community that is passionate and supportive, Dogecoin (DOGE) is poised to give BTC and ETH a healthy competition in the near future. With the expected anticipated soft-forks on the platform to counter security threats, Dogecoin has its eyes set on the top ten in terms of growth and value by end of 2018. This is a natural Altcoin you can invest in sheer comfort.