By now, you must have heard about Bitcoin and Ethereum. But there’s a not-so-new kid on the block. Dogecoin has become more popular since 2020 so it’s time to see what the hype is. Apart from its status as the sweetheart of Tesla and SpaceX co-founder, Elon Musk, it’s also the most popular meme coin today. Let’s talk about meme coins a little bit.
What is a Meme Coin?
Meme coins are cryptocurrencies based on internet memes. They tend to be created for fun and in large amounts. For example an average meme coin has a total supply of 1 Quadrillion (18 zeros). Some popular meme coins include Shiba Inu which claims to be a dogecoin killer😏 and Safemoon.
By the end of this article, you’ll know all about Dogecoin and most importantly, where to buy it and spend it.
What is Dogecoin?
Dogecoin (pronounced ‘’dohj-coin’’) is a digital currency that allows you to make transactions quickly and securely. You can use dogecoin to pay for goods and services or you can buy and sell it on a crypto exchange for profit.
Before going further, let’s take a trip down memory lane
Who Created it?
So the story goes like this: In 2013, Jackson Palmer, a software engineer, loved the Japanese dog meme Shiba Inu and wanted to build a cryptocurrency based on it. Unfortunately, he had no idea how to do that so he wrote an open letter on the one place everyone goes to for answers: the internet. Billy Markhus, another engineer, reached out to help and thanks to a match made in Dog heaven, Dogecoin was born.
The first dogecoin created in early 2014 was worth $0.001540753. Fast forward today, that same dogecoin is worth $0.3 👀👀.
What are the Benefits of Dogecoin?
Dogecoin has surpassed all expectations and has mad potential. We present some of the things you can do with the coin.
1. It can be used to pay for goods and services
Even though DOGE may not have as many uses as Ethereum and Tron, it’s becoming a popular choice for payments. Soon, you might be able to buy your favourite things with Dogecoin.
2. It might be the future social media currency
The world is currently a global village thanks to social platforms like Facebook, Twitter, and Instagram. Being the most popular mem coin, Dogecoin could become the digital currency for these platforms. It is low-priced, fast and you can buy it on major exchanges across the world.
3. It could be going to the moon… for real
You may have heard of digital currencies like Bitcoin or Ethereum going to the moon. This usually means that the price is going to rise. Dogecoin may take things further by going to the real moon thanks to SpaceX and Elon Musk. The mission named DOGE-1 will be the first ever paid for entirely with a digital currency. Beat that!
How to Buy Dogecoin
You can easily buy Dogecoin on Quidax. All you need to do is fund your account with USDT either by transferring it from another exchange or buying USDT on Quidax. After that, you can buy Dogecoin instantly. Sign up for free to get started.