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Dogecoins began life as a bit of a joke. Introduced in 2013, they bear the likeness of a Shiba Inu dog which was a popular meme at the time. However, the currency took on a life of its own and it now has a capitalisation value of US$308 million.
Dogecoins had a fast initial coin production schedule. 100 billion coins were in circulation within the first 18 months, and approximately 5.3 billion coins have been produced and mined every year since. The currency’s founder has said that there will not be a cap on how many are produced, and Dogecoins are affected by interest rates because of this.
If you are looking to buy Dogecoin then it pays to do your research. Much like any other form of cryptocurrency, its value can increase and decrease sharply over a short period of time.
Knowing where to buy Dogecoins from can be a bit confusing. For a currency that is still in its infancy it has seen a remarkable growth rate and there are a number in different places where you can buy Dogecoins. The most obvious place is from their own website, but you could also give yourself a head start by claiming free Dogecoins from faucets.
A faucet is a site that will provide you with small amounts of coins to get you started off. Dogefaucet.com and InDogWeTrust.com are the two most popular faucet sites.
Once you have taken advantage of your free coins, you’ll need to know where to buy Dogecoins too. You could buy and trade on a vast number of broking sites such as Cryptorobot365, eToro, Avatrade, BVC and Cryptomate. As with any kind of financial venture, it’s worth weighing up the pros and cons. If you’re not sure where you can buy the currency and get the best deal then come to us for advice as we constantly update our information.
The Dogecoin exchange rate is highly variable. When it began in 2013 it was worthless, a bit of fun. However, it developed a strong online community and its value began to increase steadily. At the time of writing, USD$1 is worth XDG300 but this will change according to how much trade happens online. It could even have changed by the time you finish reading this sentence. Of course, it’s not just USD that XDG can be traded in.
In can be traded in all forms of fiat money and many other different varieties of cryptocurrencies too. It is very much like the stock exchange - commodities rise and fall and share prices will follow the trend. The Dogecoin exchange rate will vary depending on what it is being exchanged against, so you need to follow the trends and get the most you can when buying the currency.
All cryptocurrencies require you to have a wallet to store your currency in. A Dogecoin wallet is available from many different outlets now. Most wallets can be downloaded in the form of a mobile app that is available on all the major operating platforms such as IOS and Android. The majority of them are also free to download. You could also get desktop Dogecoin wallets, as well as paper and online ones.
Every transaction that you perform requires you to authorise it with your private key, so your wallet keeps a track of all of these transactions.
The Doge Coin’s value in GBP will fluctuate considerably. The unstable nature of cryptocurrency is what is so appealing about them. They can see enormous gains in an incredibly short space of time, but they can also see equally spectacular losses too. Currently, £1 GBP is worth XDG370, but will certainly change sooner rather than later. Trading in cryptocurrencies is as unpredictable as the stock market. The Doge Coin’s value in GBP at this very moment is constantly evolving and will become obsolete within a short space of time. To make sure that your assets are making as much as they can you need to monitor the online markets very closely. When you buy Dogecoin, be sure that the market has not suddenly taken a turn downwards or you will lose out.
A Dogecoin calculator is a great tool to have at your disposal. Whether you are new to cryptocurrency or not, the value is constantly in flux so it only makes sense to have something to help you navigate the markets. No matter where you buy Dogecoins from the exchange rate will always be something that will affect the value of the currency. A Dogecoin calculator will help you to understand the unpredictableness by giving you a clear, up to date figure.
Using Paypal or a credit card are the fastest methods to use if you want to buy Dogecoin instantly. Cryptsy and Bter are two great sites to buy the cryptocurrency instantly. The thing to realise is you will probably pay a higher fee by wanting to purchase instantly so you need to work out if the extra outlay is financially worth it to you. If you are making a large transaction then the offset might be justifiable, but for smaller ones it may not be.
Once you have registered your wallet, they recommend that you join Reddit. Reddit is an American social board website where articles, links, images and discussions are posted by members. Topics are organised into sub-boards known as ‘subreddits’, such as Dogecoin. Reddit currently have 542 million monthly visitors and the Dogecoin Reddit subreddit is extremely popular and helpful. You can buy Dogecoin from a variety of different cources online.