Did you know that 2021 was the year of Dogecoin? Dogecoins emerged as the new Bitcoin in the cryptocurrency market early in 2021, giving as much as 1900 percent returns in January. So if you want to keep up with the crypto market, you need to follow dogecoin news religiously.
Interestingly, the cryptocurrency soared to 1900 percent at the beginning of 2021, whereas Bitcoins witnessed a surge of 117.47 percent during the same period. All facts considered, Bitcoins have traveled a long way and indeed is the definition of the future.
However, at the same time, no one can deny the effects of Dogecoin. Now 2022 is considered the cryptocurrency year, and Dogecoins play a significant role in the equation. Before typing ‘how to sell dogecoin’ or ‘where to buy dogecoin’ on Google, learning about the inception of Dogecoins is crucial.
What Is A Dogecoin?
While learning about Dogecoins, it is vital to note that the inception and subsequent growth of dogecoins are interrelated. As a result, dividing its birth and development into parts is only logical. So keep reading to find out how this meme coin was born and its immediate rise to popularity.
The Birth Of Dogecoin:
In December 2013, two software engineers (Billy Markus and Jackson Palmer) created a fun, and instant cryptocurrency called Dogecoin as a joke. If you keep up with dogecoin news, you must have come across Doge memes featuring the Shiba dog. Though it started as a joke, this cryptocurrency became a phenomenon.
Palmer had tweeted about combining the internet’s two most loved concepts, Cryptocurrency and Dodge, and how it’s the next big thing. The tweet received a lot of attention from people. So Palmer bought a domain called Dogecoin.com and put up a photoshopped Shibe on a coin to keep up the joke.
Markus tried to get in touch with Palmer after coming across his note on the domain. On failing to hear from Palmer, Markus began using Bitcoin’s open-source code, made a few strategic changes, and created Dogecoins by making 100 billion Dogecoins against 21 million Bitcoins.
If you are saying, ‘how to mine dogecoin’ to yourself right now, then thank Markus because he made that easier too by replacing the word ‘mine’ with the word ‘dig.’ This is the funniest part – because dogs never min, they always dig.
The Rise Of Dogecoins:
Dogecoins came under the limelight when Reddit users began sending each other Dogecoins as a token of respect or agreement. The Dogecoin subreddit exploded, providing Palmer and Markus with the attention and resources needed for success. However, even this popularity was limited.
People kept their interest in Dogecoin-related things like the dogecoin price or the dogecoin stock to a bare minimum as it was listed as a ‘meme coin.’ However, the cryptocurrency garnered much attention when Elon Musk tweeted about it, and celebrities like Snoop Dog jumped on the wagon.
How To Buy A Dogecoin?
Once you have understood the actual worth of a Dogecoin, knowing how to sell dogecoin or how to mine dogecoin, or even where to buy dogecoin becomes your priority. Investing in Dogecoins can provide high returns, but at the same time, there are risks involved in dealing with such volatile cryptocurrencies.
Most investors go wrong with their expectations from these volatile assets. It usually starts slowly – will dogecoin reach $10? Then these crypto-assets tempt investors with more – can dogecoin reach $10o? Or can dogecoin reach $1000? All these come much later.
Choosing the right platform for buying a Dogecoin is perhaps your most critical decision as an investor. If you are traditional, you can opt for an online broker, or you could simply select a crypto exchange, but it all depends on your objectives. So follow the steps below and buy some dogecoins today!
Step 1: Market Research And Analysis:
Before buying any cryptocurrency, you must do a complete market analysis and determine whether it is the right time to invest in the cryptocurrencies you are interested in. For instance, if you were investing in dogecoins, reading up on dogecoin-related topics like dogecoin stock, dogecoin price is of primary importance.
Research and analyze Dogecoin’s history and current performance data before making an investment decision. You could also visit a price tracking site like CoinMarketCap for accurate news related to dogecoin price.
Step 2: Register And Fund Your Account On your Chosen Platform
Once you have chosen a platform like Webull or Binance, download and install the application quickly. After registering yourself on the forum with your personal information, start your Dogecoin trading journey. Once your account has been verified, you will have to add the funds to your account.
Navigate to account payment settings and enter your bank information and the money you want to deposit.
Step 3: Select And Buy A Dogecoin
If you keep up with dogecoin news related to dogecoin price and dogecoin stock, you will know investing the amount you can afford to lose for buying a few coins is a good idea. Furthermore, it will help you understand exactly how trading in Dogecoins work.
Once you have decided how many dogecoins you want to purchase, type ‘DOGE’ in the search bar, enter the number of coins you want to buy, and click the ‘buy’ button. The order will go through immediately, and your account will reflect the number of purchased dogecoins.
Now that you know how to buy a Dogecoin and even where to buy dogecoin, typing ‘will dogecoin reach $10?’ or for that matter, ‘can the dogecoin reach $1000?’ on Google, is valid. Since dogecoins are not very expensive, many viral Tiktok videos even encouraged people to invest in these meme coins.
Undoubtedly, Dogecoins started as a joke, but investors globally are now taking this crypto asset seriously. If you plan to invest in dogecoins, remember that it also involves high risk and not just high returns. Invest the money you can afford to lose especially if you are new in the crypto market.