Dogecoin (DOGE)

Dogecoin is a cryptocurrency that gained quick popularity due to its association with the Doge internet meme. Though it began as a joke, Dogecoin has become one of the most popular cryptocurrencies in the world. Here’s everything you ought to know about this digital currency.

Brief History of Dogecoin

Billy Markus created Dogecoin from Portland, Oregon, and Jackson Palmer from Sydney, Australia, in December 2013.

Dogecoin is a digital coin that utilizes peer-to-peer technology to function with no central authority or banks. Also, it is based on the Doge meme, which features a Shiba Inu dog.

Dogecoin is similar to other cryptocurrencies, such as Bitcoin, in that it can be used to purchase goods and services online.

However, Dogecoin has a much higher supply than Bitcoin, and it is not as valuable. Dogecoin was created to be fun and playful, and it has become popular among internet users.

An open-source cryptocurrency, Dogecoin (DOGE), is a decentralized, peer-to-peer system.

Even if it was conceived as a prank, Dogecoin’s blockchain has value, with Litecoin as the source of its core technology.

In addition to its low price and unlimited supply, Dogecoin is notable because of its script algorithm.

As of 2018, Dogecoin had over $2 billion in market capitalization, and today, it is over $11 billion. It is not affiliated with any major financial institution, and any government does not regulate it.

What to consider when buying Dogecoin

Dogecoin may have started as a prank, but today the investment community has taken it quite seriously. However, it is still a risky investment.

To avoid losing money, it’s recommended that you keep your cryptocurrency holdings to 3-10% of your overall portfolio.

Investing in Dogecoin should be based on your risk tolerance and financial position.

In other words, if you don’t have a rainy-day fund and aren’t on top of your retirement plans, you should put less money into Dogecoin.

It’s possible to invest more of your portfolio in Dogecoin if you’re financially secure, on track to accomplish your retirement goals, and have a sizable financial cushion.

How to Buy Dogecoin

It would be best to follow the following instructions and points to buy the Dogecoin.

1. Consider the Amount of Dogecoin You’d Like to Invest.

There are viral reports of people who financed little amounts in DOGE and became millionaires.

What you must not forget is that Dogecoin is a volatile cryptocurrency with an unlimited supply.

Investors must regularly acquire Dogecoin to boost or maintain its price. Otherwise, the DOGE supply climbs quickly and devalues existing currencies (think inflation on steroids).

One of Dogecoin’s founders lowered the restriction to discourage long-term hoarding. That’s unlike Bitcoin, which caps how many coins are issued. Scarcity helps currencies keep value.

Also, please consider your financial situation, portfolio, and risk tolerance when investing.

Finally, cryptocurrency experts advise not investing more than you can afford to lose.

2. Identify a Cryptocurrency Trading Platform

To acquire Dogecoin, open an account with a cryptocurrency exchange, where buyers and sellers trade cryptocurrencies for dollars. Following are a few great options:

• Coinbase
• Binance
• Kraken

They offer a simple, easy-to-use platform with higher fees and an advanced trader platform with lower prices.

Moreover, you can buy crypto through beginner-friendly applications like Robinhood, but you may not be able to transfer them. Some investors shift crypto to separate wallets to avoid hackers.

Using a brokerage app like Robinhood, you’d have to sell and rebuy your coins on an exchange, which negates the objective of buying them with an investment app.

If you think you may wish to move your coins to a separate wallet, start with an exchange.

Finally, not all crypto exchanges offer Dogecoin, despite its recent popularity. Check to see if the exchange you’re contemplating sells DOGE.

3. Choose a payment option.

You must fund your exchange or brokerage account before trading crypto. Most exchanges let you deposit from a bank account. Some accept wires and PayPal.

A part of your deposit is usually available for trading immediately. If you deposited more than $1,000, you might have to wait a few days for the transfer to clear before using the whole deposit.

Some exchanges let you buy Dogecoin with a credit card. Before using a card to purchase crypto, know that your credit card provider would consider a cash advance, levy fees, and a higher APR.

This makes crypto investing gets riskier and more expensive. Likewise, experts advise against buying cryptocurrency this way.

4. Order your Dogecoin

You can buy Dogecoin once your funds have been deposited into your account. If you’re looking to buy or sell Dogecoin on an exchange, type in the coin’s ticker symbol, DOGE.

Similarly, select the deal you want to make, then enter your desired investment amount in dollars or the number of Dogecoins you wish to purchase.

Immediate delivery is expected when you place the order. If you’re looking to purchase or sell Dogecoin, you can do it at any time of the day or night; there are no trading hours.

5. Look at Your Storage Choices

When you acquire Dogecoin, it’s stored in your exchange’s or brokerage’s wallet. Some investors prefer to remove crypto from their exchange or brokerage and keep it in another wallet because it’s online.

Also, you can store Dogecoin outside your exchange in a hot or cold wallet.

Cold wallets are hardware you can unplug from the internet, making them less hackable. They are more expensive than hot wallets, and you risk losing your crypto if you lose or forget the password.

Where to Buy Dogecoin: Best Crypto Exchanges For Doge

Multiple exchanges offer Doge, but we have selected the top three. Please keep reading!

Kraken

Founded in 2011, Kraken is situated in the United States and is currently the fourth-largest crypto exchange in terms of volume.

The exchange now accepts deposits in US dollars, euros, Canadian dollars, Australian dollars, the British pound, Swiss francs, and Japanese yens for fiat funding.

Credit cards and wire transfers are also accepted at the exchange. Moreover, SEPA payments, free and quick for EU citizens, are available.

To fund your account, Kraken accepts:

• Bitcoin (BTC).
• Ripple (XRP).
• Ethereum (ETH).
• Litecoin (LTC).
• Qtum (QTUM).
• Cardano (ADA).
• Zcash (ZEC).
• Monero (XMR).

As well as other cryptocurrencies.

You can acquire DOGE in less than 10 minutes after funding your account by clicking on the “Buy Crypto” page.

Binance

Binance is a famous cryptocurrency exchange outside the US. It’s also the world’s largest by volume.

Binance lets you buy crypto via bank transfer, credit/debit card, P2P trading, and third parties.

The exchange accepts the US dollar, British pound, euro, Canadian dollar, Australian dollar, Japanese yen, and minor currencies.

It also accepts Bitcoin, Ethereum, and Binance Coin to finance accounts.

Due to regulatory uncertainty, the exchange doesn’t let US residents utilize its central platform.

Coinbase

One of the most popular exchanges for cryptocurrencies in the United States is Coinbase.

It added DOGE support in June 2021 due to client requests.

It’s now possible to acquire Dogecoin (DOGE) on both Coinbase.com (the company’s primary trading interface) and Coinbase Pro (the company’s more advanced trading interface).

In the United States, just one crypto exchange, Coinbase, was established in 2012 and is publicly listed.

Deposits can be made via credit and debit cards and bank transfers.

Best Crypto Wallets for Dogecoin

There is a wide variety and number of online crypto wallets most suited for Doge storage. Let’s see a few of them:

Coinomi

For DOGE holders looking for a convenient mobile wallet, go no further than Coinomi.

Over 1,000 cryptocurrencies are supported by this popular program, which aims to make cryptocurrency administration quick and straightforward.

You may save your private keys on your device with Coinomi, an HD wallet that is easy to set up.

Exodus

Exodus is a multi-device wallet that supports a wide variety of crypto assets.

Keeping your Dogecoin in this wallet is safe and easy.

Exodus is an excellent place to store your DOGE, and it supports more than 150 other cryptocurrencies.

Exodus is a beautiful wallet for both storing and staking your crypto.

Best Hardware Wallet for Dogecoin

Due to the increasing popularity of Doge, numerous hardware wallets are on the market. Please take a look at a selected few:

KeepKey

KeepKey is one of the most widespread hardware wallets on the market today. Dogecoin is one of the several cryptocurrencies supported by this cold storage wallet launched in 2015 and focuses a strong emphasis on security.

Trezor

Trezor is a piece of hardware that may be used as a wallet to keep your Dogecoins. It is simple to connect to your computer or mobile device, such as a smartphone.

In addition to that, it gives you the ability to generate a PIN code for your device in an entirely unexpected way.

Trade or Sell Your Cryptocurrency

If you’re looking to trade or sell Dogecoin, you should know a few things.

Dogecoin is listed on the most prominent cryptocurrency exchanges, and it can also be bought directly from other users.

The price of Dogecoin is determined by supply and demand, so it’s essential to monitor the market before making a trade.

Moreover, Dogecoin is a volatile currency, so it’s essential to understand the risks before investing any money.

Dogecoin Price

Dogecoin Price Prediction

The DOGE/USD currency pair is anticipated to succeed immediately. The following list some of the highs that analysts have predicted Dogecoin would test in the next decade.

Price Prediction of Dogecoin around 2022: In 2022, DOGE is anticipated to reach $0.30 if the cryptocurrency market goes up.

Price Prediction of Dogecoin around 2025: Dogecoin is anticipated to hit a high of $0.77 by 2025, as acceptance and cryptocurrency rules continue to improve.

Price Prediction of Dogecoin around 2030: Many companies worldwide are projected to accept Dogecoin by 2030. Dogecoin could reach $1 by 2030 if this prediction is correct.

Dogecoin Supply, Volume, Market Cap, Change

Is Dogecoin a Good Investment?

Crypto experts do not recommend investing in Dogecoin. This is the conclusion based on Dogecoin’s performance over the past year.

It is because when Dogecoin’s price drops, nothing stops it from falling even further.

Famous personalities Have Invested in Dogecoin.

Tesla’s CEO Elon Musk is always seen and heard whenever there is a talk about Dogecoin. Apart from Elon Musk, following famous people have invested and favor Dogecoin.

• Snoop Dogg
• Lil Yachty
• Gene Simmons
• Kevin Jonas

Conclusion

Dogecoin has one of the most active online communities of any cryptocurrency and is beloved for its fun and friendly nature.

Also, this article has covered everything you need to know about investing in Dogecoin, detailing the coin’s history before providing in-depth price forecasts for the foreseeable future.

Please let us know your thought about Doge and its future!

Happy Investing!

Last modified: June 3, 2022