Dogecoin (DOGE)

Last updated 21/07/2021

What is Dogecoin?

Dogecoin (DOGE) is a cryptocurrency that is based on the popular "doge" Internet meme from 2013 and features a Shiba Inu dog on its logo. The open-source digital currency was invented by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia, and was created from a fork of Litecoin in December 2013. It was originally envisaged as a fun, light-hearted cryptocurrency that would have larger appeal that extended beyond the primary Bitcoin audience, since it was based on a dog meme. Tesla CEO Elon Musk posted several tweets on social media showing he had an interest in the coin which boosted its notoriety.

Dogecoin’s use has been mainly as a tipping system on social media platforms Reddit and Twitter, with the intent to reward the creation or sharing of quality content. Dogecoin can be received via tipping by participating in a community that uses the digital currency, or you can obtain your Dogecoin from a Dogecoin faucet. A Dogecoin faucet is a website that will provide you with a small amount of Dogecoin free of charge as an introduction to the currency, so that you can begin interacting in Dogecoin communities.

Team

Dogecoin was created by programmer Billy Markus from Portland, Oregon, who wanted to make a more light-hearted cryptocurrency that could reach a wider demographic than Bitcoin. Moreover, he also wanted to detach it from the notorious history of other coins and the numerous scandals that surrounded them. Simultaneously, Jackson Palmer, a member of Adobe Systems' marketing department in Sydney, was inspired by a student at Front Range Community College on Twitter to make the idea into existence.

Mining

Regarding the mining, Dogecoin is different to Bitcoin's proof-of-work protocol in numerous ways, one of which is by using Scrypt technology. The altcoin has also a block time of 1 minute, and the total supply has no cap. This means that there is no limit to the number of Dogecoin that can be mined. You can mine Dogecoin either on your own, or by joining a mining pool. A Doge miner can also mine the coin on Windows, Mac or Linux, and with a GPU.

Where to Store Dogecoin (DOGE)

Trust Wallet is a wallet that can hold a wide variety of cryptocurrencies such as DOGE making it highly desirable for users who wish to have a varied portfolio.

Leading hardware wallet providers such as Ledger are integrated with DOGE and Dogecoin wallets will come as standard on their devices. 

Exodus can also store DOGE and various other cryptocurrencies. Exodus is free and easy to use and can be downloaded to either a desktop or mobile device. Exodus will then be tied to whichever device it has been downloaded to which will also be the device you will use to access and manage your crypto assets.

Always conduct your due diligence and research into any wallet provider you consider.

Where to Buy and Sell Dogecoin (DOGE)

You can Buy & Sell Dogecoin (DOGE) here at BC Bitcoin. You can Buy DOGE by heading over to the Buy Coins page of our website. DOGE is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying DOGE has never been easier, simply place your order and provide your wallet address. Once your payment arrives, DOGE will be sent directly to your wallet.

If you choose to Sell Dogecoin (DOGE), you can send us the coins and receive a payment to your bank account. Details and a live valuation can be found on the Sell Coins page.

Dogecoin (DOGE) Resources

Website: https://dogecoin.com/
Block Explorer: https://dogechain.info/chain/Dogecoin
Twitter: https://twitter.com/dogecoin
Github: https://github.com/dogecoin/dogecoin

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.