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What is Dogecoin

What is Doge

Doge is a open source blockchain project with full peer-to-peer support coin transferring. It started as a joke on Twitter, but then was released as a fully functional cryptocurrency.

It is based on the Bitcoin open-source code, and is almost a copy of this world’s most popular cryptocurrency.

Advantages of using Doge

Joke

First of all, Dogecoin was started as the joke in 2014. It really is a joke. Full copy of Bitcoin code, with only name and amount of coins replaced, it suddenly became one of the most popular cryptocurrencies in the world.

The cutest coin

As the memes are one of the moving forces of the internet, one should never forget about the real purpose of the world wide web – cute animals. And here comes the Doge. One of the cutest breed of dogs, Shiba Inu, has conquered millions of hearts all around the world and became the mascot animal for many crypto enthusiasts.  

Open source

As the whole Doge crypto infrastructure is based on the open source code of Bitcoin, it allows developers to easily build and launch any apps, just like with Bitcoin blockchain.

Doge definitions

Cryptoasset

Dogecoin is really can be one of the strangest and cutest cryptoasset in the world. As it is almost a full copy of Bitcoin, it is a cryptoasset as it is supposed to be.

Exchange

As any cryptoasset, Doge coin can be exchanged on the special platforms and marketplaces.

Node

In terms of Doge crypto, every node is a computer, connected to the Doge blockchain, having the full copy of the list.

Market cap

Market capitalization is the US dollar equivalent of all the Doge coins in the world.

Dogecoin investment strategy

There are lots of strategies to invest in cryptoassets. Everyone can select exactly what he or she is up to. Long-term savings can be a good strategy leading to prosperous future. Otherwise, the more risky will be to buy and sell crypto tokens in order to have short term profits.

The easiest strategy is to buy and keep your cryptoassets for a while. You can buy Doge coin and watch it grow, as the community progresses. When it grows and you would like to fix the profits, you can easily switch Doge coins to fiat money or other coins you like via BestRate.org.

Where to keep Doge coin

There are wallets for every desktop systems and the one for smartphones on Android. The Doge coin purse is called MultiDoge and can be easily downloaded and installed from the official Doge coin site.

How to transfer Doge coins securely

As any crypto payment is a peer-to-peer money transferring, one should be extremely careful. In every cryptocurrency transaction you are the Bank for yourself. There are some tips, that will help you to transfer Doge coins safe.

Never type a wallet address manually

Always use only copy-paste operation to enter a wallet address. Any mistake can cause an error and let your money get lost in the network.

Look up the transaction fee

Any good wallet or an exchange platform will show you the transaction fee for your money transfer. Look for it anytime you send Doge coins to anyone.

Double check the address

Make sure that the address of the recipient is correct and check it several times before sending off the sum, especially if you transfer big amounts of Doge coins at a time.

Test before sending

Anytime you send huge amount of Doge coins check the whole procedure on a small amount. When you will be sure that your partner received the money, do the same thing with the rest of the asset.