What is Dogecoin, How and Where to Buy?
For the last 1 year, Dogecoin has been the crypto currency that crypto money investors have heard and surprised the most. In fact, Dogecoin has taken such a path that even people who do not understand much about cryptocurrencies and crypto money markets have started to ask questions such as what is Dogecoin, how to buy Dogecoin, whether to buy Dogecoin.
With this content that we have prepared as a guide for Dogecoin, we will share the answers and information to questions such as what is Dogecoin, can Dogecoin be bought, how to buy Dogecoin if it is bought, and which stock exchange Dogecoin is found and bought. We will also share all the detailed information about Dogecoin, as well as answers to the most frequently asked and curious questions.
What is Dogecoin?
Dogecoin is an unplanned cryptocurrency invented purely for fun. It was invented by Billy Markus, software engineer at IBM, and Jackson Palmer, software engineer at Adobe, with the aim of establishing a payment system free of traditional banking fees and in hopes of gaining a wider audience than Bitcoin.
Dogecoin, which was created from Litecoin and Luckycoin infrastructure, emerged on December 6, 2013 with the slogan “To the moon”. The abbreviation for Dogecoin is “DOGE” while the symbol for Dogecoin is “Ɖ”. In addition, the Dogecoin logo includes a Shiba Inu dog called Doge, which is an internet phenomenon called a meme on the internet.
The reason why Dogecoin, which has the title of the first meme coin of the internet, came out of Litecoin and Luckycoin infrastructure was that the algorithms of these cryptocurrencies use Scrypt technology. Scrypt technology was a more labor-intensive technology compared to Bitcoin’s SHA-256 technology. For this reason, Dogecoin, which uses this infrastructure, has made a difference in its struggle to appeal to more segments with Bitcoin.
While the price of 1 Dogecoin was $0.00026 when Dogecoin first appeared, it rose to $0.00095 after 72 hours, gaining 300% value and Dogecoin official website dogecoin.com was visited by 1 million people in its first month.
One reason why Dogecoin gained such a high rise in 72 hours was that Chinese and Chinese banks banned investments in Bitcoin and the most popular cryptocurrencies at that time on the same day. However, this situation also affected Dogecoin, and 3 days after this event, Dogecoin experienced its first major collapse and lost 80% of its value.
Towards the end of 2020, one of the most used social media platforms, Tiktok, which has a serious audience and is called the Tiktok Phenomenon, set a target that 1 Dogecoin will be 1 Dollar in 2021 and started working on this issue.
Dogecoin, which proceeded quietly and calmly until January of 2021, suddenly provided a very serious rise with the GameStop events that started with the WallStreetBets group on Reddit. The main upward momentum was captured by Elon Musk, who supported WallStreetBets on Twitter and later showed this support for Dogecoin.
Dogecoin rose up to 5x in value within 24 hours after Elon Musk tweeted, and many investors who own Dogecoin woke up happy on January 29, 2021. After this date, Dogecoin, which gained a very serious popularity, achieved stability, while Elon Musk did not cut his support for Dogecoin and continued to support it.
A while ago, Elon Musk warned of investing in amounts worth losing and warned investors in his Dogecoin statement, but he still did not withdraw his support from Dogecoin.
How to Buy Dogecoin (DOGE)?
For those who know what Dogecoin is and are only wondering how to buy Dogecoin and where to buy Dogecoin, let’s give some information before explaining what Dogecoin is.
Probably the first question that comes to your mind is Dogecoin on which exchange or Dogecoin on which exchanges. Dogecoin is currently on many exchanges and we can say that there are many exchanges with Dogecoin and you should not have any problems.
The most used and preferred exchange as the Dogecoin exchange is the Binance cryptocurrency exchange. In fact, among Dogecoin exchanges, Binance has the highest volume in Dogecoin volume. However, in order to buy & sell Dogecoin on Binance, you must follow these steps:
- To buy Dogecoin by money transfer, first log in to one of the Turkish stock exchanges and transfer/eft your investment amount to your account through your bank.
- When your transfer is complete, buy Dogecoin with the amount you deposited, if available on the Turkish stock market. If you do not have Dogecoin, you can buy Tron (TRX) so that the transfer process is convenient.
- After this process, if you can get Dogecoin, you can keep your money in the local stock market if you wish, but if you want to transfer it to your Binance account, log in to your Binance account and come to the Wallet section. If you do not have a Binance account, click here.
- Assuming that you are transferring Dogecoin, click the Spot link in the Wallet section and find Dogecoin by typing Doge in the search section on the page that opens.
- On the Dogecoin page that opens, click on Deposit and copy the Dogecoin wallet code that will be given to you.
- Then, enter your Dogecoin wallet on the Turkish stock market and click the Withdraw link, paste the Dogecoin wallet code you copied into the Dogecoin address section, enter the amount you want to transfer and give the necessary approvals.
- If the transfer you will make from the Turkish stock market is Tron (TRX), not Dogecoin, perform the same transactions for Tron.
- If you receive a notification by Binance that your Dogecoin transfer has been completed, your transactions are completed. If you have made a Tron transfer and your transfer is completed, you can first convert your TRX amount to USDT by going to the Trading section and then typing Doge in the search section from the Markets tab, selecting the DOGE/USDT parity and making a purchase.
Frequently Asked Questions About Dogecoin (DOGE)
In this section, we tried to answer the most frequently asked and curious questions about Dogecoin. This section will be regularly updated in proportion to the requests and questions from our readers.
Do I Have a Chance to Win Free Dogecoin?
You can find many sites or applications that allow you to earn free Dogecoins, but the amount you will earn will be very low and we advise you to be careful because they may ask you to deposit some money or credit card information on the pretext of giving free Dogecoin, do not give it.
What Is The Best Exchange to Trade Dogecoin?
You can buy and sell Dogecoin on all exchanges that hold Dogecoin, but the best exchange in terms of volume is Binance Exchange.
What Should I Do to Get Dogecoin Address?
Dogecoin address means Dogecoin wallet, and when buying & selling on the stock market, your Dogecoin address, ie Dogecoin wallet, is already created. You can get your Dogecoin address code (Dogecoin wallet code) from deposits and withdrawals.
Is Dogecoin Buy or Earn?
Unless you are mining Dogecoin, you can only invest by buying Dogecoin.
Can I do Dogecoin Mining?
Dogecoin mining is possible, but Dogecoin mining is even more difficult than Bitcoin mining. For this reason, you can do it by finding a solid and reliable mining site or company. In fact, it would be healthier to find a place that does Dogecoin Cloud Mining.
Is Dogecoin a Future Cryptocurrency?
Frankly, we cannot talk about a future on a project basis, as there is no solid project behind Dogecoin and it is purely for entertainment purposes. However, Dogecoin, which has a serious fan support and acts with the support of one of the richest people in the world such as Elon Musk, always seems to give an opportunity to buy and sell.
How are Dogecoin Reviews?
With the support behind it, Dogecoin continues to rise by receiving positive and forward-looking comments every day. For this reason, we can say that the reviews for Dogecoin are good, but no matter what, pay attention.
Official and Followable Accounts of Dogecoin (DOGE)
Dogecoin (DOGE) Official Website
Dogecoin (DOGE) Twitter
Dogecoin (DOGE) Facebook
Dogecoin (DOGE) Reddit
Dogecoin (DOGE) Discord
Dogecoin (DOGE) CoinMarketCap
Dogecoin (DOGE) CoinGecko