Hey, so you want to mine Dogecoin, but don’t know how? That’s okay! This blog post will give you all the information that you need. …
Disclaimer: This post contains affiliate links.
What is Dogecoin?
Dogecoin is a decentralised, peer-to-peer digital currency that enables you to easily send money online. It was originally introduced as a “joke currency” based on the popular doge meme in 2013, but it has since become one of the most traded cryptocurrencies due to its fast transaction times and low fees.
There are three main ways to get your hands on some Dogecoins: buying them from an exchange like Kraken or Poloniex; mining them yourself; or accepting them for goods and services by integrating a crypto payment processor into your business.
This article will help you understand how to buy Dogecoin so that you can take control of your finances.
How to Buy Dogecoin
The most common way to buy Dogecoins is by trading them on cryptocurrency exchanges. Exchanges are websites where you can purchase a particular crypto with another, more well-known one. For example, if you want to trade Bitcoin for Ethereum, it would be done using USD as the intermediary currency and will typically take place in multiple steps that involve signing up at the exchange website; providing your email address and other personal information; entering all of your credit card or bank details (which may include explicit identification verification); making sure that there’s enough balance available in the account to cover both transfers; waiting for confirmation of deposit transactions before moving funds between wallets. The process usually takes about 30 minutes.
There are many exchanges, and which one you choose depends on the crypto that you want to buy. Popular ones include Coinbase, Binance and Gemini (which accepts USD as well). Some popular cryptocurrencies for exchanging with BTC would be Ether or Litecoin. There is a list of major trading sites here:
You can also purchase them through centralised cryptocurrency exchanges such as Coinbase Pro . These allow people to invest in digital currencies without actually having their own individual wallets or exchange accounts; instead they just have an online account where they transfer funds from other sources like banks or credit cards into the stock itself, so it’s more like purchasing shares than anything else when buying Bitcoin this way - but it does result in lower transaction fees than many other methods.
You can buy Dogecoin on a cryptocurrency exchange like Binance or Coinbase Pro, which is an online marketplace where people can trade fiat money for cryptocurrencies. This process typically requires you to send your desired amount of USDT (US dollars in Tether form) from your bank account to the person selling the crypto coin(s). They then give you whichever coins and/or tokens they listed as part of their offer. You should always research beforehand who’s giving out these coins so that you know how reputable they are - if someone is asking for payment without providing any type of identification whatsoever, it might be wise to stay away unless there seems to be some reasoning behind this request not being met by the seller.
Some people use cryptocurrency exchanges to trade their coins and tokens, while others view these as more of a marketplace where it’s possible to buy goods with crypto that they can either hold or spend in the near future at places like Amazon.com or Starbucks (if you live in Canada). One place this is particularly popular is Japan, which now has over 300 shops where customers can pay for items by scanning QR codes on their phones.
Elon Musk and Dogecoin
Although the CEO of Tesla and founder of SpaceX is now best known for his successful space exploration company, at one point in time he was just a guy who created an online payment system called PayPal. Musk has publicly supported Bitcoin on multiple occasions as well as other cryptocurrencies like Ethereum, tweeting that “there’s only so much physical money to go around before we have digital currency or something like it takes over.” On March 26th 2018 Elon tweeted about Dogecoin, where he wrote:
Check out my man @ummjackson’s interplanetary transportation concept art! pic.twitter.com/EQT08RWUDX — Elon Musk (@elonmusk) September 18, 2017"
Musk’s investment in Dogecoin
Elon Musk is also an investor of Dogecoin. In November 2017, he shared on his Twitter account a tweet from the official account for cryptocurrency exchange service ShapeShift that read: “Dogecoin now available at @ShapeShift_io”. He responded to the tweet with “Wow.”
Dogecoin and Snoop Dogg
The rapper Snoop Dogg has also voiced his support for Dogecoin, tweeting on October 22nd 2017: “Dogecoin might be my fav cryptocurrency. It’s so easy to mine! Til' now.”
In March 2018, the famous singer Akon announced a new phone that would use dogecoins as an in-app currency called Akoin.
The goal is to empower Africans with access to cheaper and more effective banking services. “I think it’s important because I believe Africans need help getting into the legacy system," he said about plans for African development of financial systems like cell phones or internet connectivity. This project will not only provide opportunities within Africa but outside of Africa too a platform for the power of Africa.”
The cryptocurrency is also being used in various charitable works such as feeding hungry children, donating to nonprofit organisations and even creating a personal fund.
Buying Doge Coin on Crypto.com Step by Step:
- Download the Crypto.com App from the Apple Store or Google Play store
- Setup your account with a username, password and login
- Add funds to your wallet by selecting one of our accepted payment methods (fiat currency or cryptocurrency)
- Search for Dogecoin in ‘Markets’ section of app, select now sell price and buy DOGE coin at current market value.
You can also use this link to buy Dogecoin on Crypto.com
Disclaimer: Cryptotravellers or the author are not a financial advisor and the information in this article is not financial advice and should not be construed in this way.