Jokes aside: A Review on the Meme Cryptocurrency (Dogecoin)
The information contained herein, mainly regarding cryptocurrencies and the state of digital networks does not intend to be a source of advice or credit analysis with respect to the material presented. Ergo, the information and/or documents contained in this website do not constitute investment advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting the company with an expertise in crypto. The author suggests to consider and evaluate each of the risk factors and all other information contained herein. It is worth noting, however, that trading and investing in cryptocurrencies solely rely on how well a customer perceives the digital asset based on its market industry.
Where do you typically place the extra cent after purchasing a refreshing soda? What about the old bill you found in your jag jeans’ side pocket, or the change for the bus ticket? Some might say they’d dump it inside a pot full of rusty coins, or perhaps just save it to a poor child in pieces. However, have you considered investing it while having a great time? In Dogecoin, it is indeed possible to serve two masters at once — money and pleasure!
What is Dogecoin?
In simplest definition, it is the spare change you toss into the jar when you get home.
Dogecoin (DOGE) is a digital cryptocurrency with the same algorithm and technical parts as Litecoin, meaning that all modifications and updates made to it will also be done to Dogecoin. It is a peer-to-peer network that allows its users to send money online easily. Dogecoin right from its launch has become very much significant in the crypto world. It is primarily used for tipping users on Reddit and Twitter, but can also be a method of payment by a few dozen merchants around the world.
In spite of its humble beginnings, Dogecoin is undoubtedly a very serious platform with plenty of high-tech surprises to show. Set up to reach a broader demographic scope than Bitcoin. Furthermore, Dogecoin was an alternative for those who rejected cryptocurrencies from the mainstream.
In fact, it began as a joke, but soon gained much interest. Subsequently, a very strong community was built around the community where users can have fun while simultaneously getting familiar with crypto.
Oddly enough, Dogecoin (DOGE) does not have a blockchain platform or real-world uses for Dogecoin. They base Ethereum’s value on its widely utilized blockchain platform. Additionally, they cannot easily convert Dogecoin to ERC20, ERC223, or cryptocurrencies based on Ethereum. Aside from that, there appears to be no team developing a suite of solutions for Dogecoin. However, Dogecoin is now one of the leading networks racing to the moon!
What are the main use cases of Dogecoin?
Doge can be stored in a wallet on a computer, smartphone, or a website. One of the most popular uses for Dogecoin is sharing the coin to other fellow internet-goers who create or share great content. Imagine a Facebook like or Twitter retweet valued with cryptocurrency. The token can be used to buy goods and services, or trade it for other currencies (both other cryptocurrencies or traditional currency like US dollars). It can be a way of getting around expensive fees charged by crypto exchanges.
The network has two main goals. First is to make an edge after Bitcoin and second aims to have a digital currency that is more accessible, usable, and user-friendly than Bitcoin. It was designed as being the type of digital currency that could be used by content creators on platforms such as Reddit and YouTube.
What are the edges of Dogecoin?
Compared to other cryptocurrencies, Dogecoin has a fast initial coin production schedule, plus a lower transaction fees. The original objective of Dogecoin is not to create innovative technology or something new and impressive but to stand out as the best choice for newcomers to crypto. It has a high trading volume since it’s one of the most popular cryptos out there and its user-friendly features adds a huge impact on its impression. It’s value also comes from the fact that it’s used on some of the most popular Internet platforms, YouTube and Reddit.
Dogecoin has proved to be one of the best coins in the market and one that’s usually associated with non-profit organizations and charity fundraising. The digital currency has probably the most devoted and responsible community. Dogecoin is all about goodwill and promoting charity.
Where can I buy Dogecoin?
There are many exchanges that claim the title of “best” exchange. While this may all seem simple enough, however, in choosing the best crypto exchange to invest in, a customer has to pay attention to a myriad of considerations like fees, reputation, security, verification processes, and geographical restrictions an exchange platform has to offer.
To better understand most of the exchanges, as well as some of them that are working actively towards this goal, first, we need to understand some several factors that these crypto exchanges are currently working on:
- Security: Safety should always come first. A good exchange will place great emphasis on the security of their users’ accounts, personal information, and the system in general. The majority of the assets should be stored offline in a cold storage system. Also be on the lookout for additional security features such as Two-factor authentication, withdrawal confirmations, etc.
- Reputation: A well established, long-standing exchange is a much safer option.
- 24/7 Support: The support should be responsive, friendly, professional, and ideally reachable through several different channels. A call center is a big plus as it’s comforting to know you have the option to speak to someone in person.
- Payment methods: Take into consideration which payment methods are available — do they support credit card purchases, p2p fiat trades, and other methods of payment.
- Fees: Fees can vary substantially between different exchanges. The fee schedule has to be provided on the site.
- Interface: The site should be easy to navigate, even for crypto beginners.
- Geographical restrictions: Some exchanges are locally restricted and their service might not be available in your area.
- Uptime: Avoid exchanges with lots of downtime.
- Verification: Even though some users find verification and KYC procedures a hassle, you should look at it from another perspective. They are done with the best intention to protect the exchange from money laundering and all sorts of scams.
Taking everything into consideration, KuCoin is one of the many cryptocurrency exchanges who explored the concept of what the future of cryptocurrency trading looks like. It is also a reputable exchange that adds high-quality projects Avail here.
KuCoin has a highly trained research department that looks for top-quality projects throughout the crypto industry. The exchange has over 6 million registered users across 207 countries and regions around the world with 450+ trading pairs to date. KuCoin provides a highly secure and easy-to-use platform for users to engage in cryptocurrency trades and transactions efficiently and safely.
KuCoin also launched a series of other products in the past year designed to further help out crypto users, including futures markets, public chain, one-stop exchange solution, creating a platform for how your crypto can yield interest, as well as some upgrades to the main exchange to uphold its principle of security and transparency. KuCoin since its inception has insisted on taking the tech as its backbone to build a better trader relationship while constantly pushing for the sustainable development of the digital currency trading ecosystem as the ultimate goal.
The Best Crypto Exchange To Buy Dogecoin 2021
There are several exchanges, in fact, catering to different requirements and varying in terms of safety and security, convenience, accessibility, and so on. But unlike most of them, KuCoin is unique in its approach. From their timely upgrades, reports, and recently introduced products & features like KuChain, Margin, KuCoin Futures, Soft Staking, and Pool-X is what I think helps them build a better ecosystem for traders. Significantly, the structure of Kucoin is utterly fascinating, which shows they are more interested in long term growth. I’d say with their competitive services and reputable brand, KuCoin is already one of the leading cryptocurrency exchanges today.
