Among the various cryptocurrencies that exist today, Dogecoin is undoubtedly one of the most interesting. Often called “joke currency” or “meme currency”, the asset was created to be fun. Dogecoin can be purchased on Binance.
And therefore not to be serious. Its symbol is the famous Shiba Inu puppy that went viral on the internet years ago.
But that is not why its history or its participation in the crypto market is no longer something important. After all, since it was created, this token has gone from being a mere tipping mechanism on networks like Reddit and Twitter to a cryptocurrency with real potential for making investments.
What is Doge coin (DOGE)?
This is a cryptocurrency that emerged in 2013 from the partnership between American Billy Marcus and Australian Jackson Palmer. The duo’s intention was to create a fun crypto asset, with a level of appeal capable of attracting a consumer audience.
Thus, the initial use of the Doge coin token was as a reward to Reddit and Twitter users for posting quality content. But over the years, its importance in the crypto market has increased, although to this day its value has not dawned. And one of the main reasons for this was Elon Musk’s opinion on cryptocurrency.
On more than one occasion, the Tesla founder has said that Dogecoin was his favorite cryptocurrency. Naturally, this drew the attention of many people to her. Today, as an altcoin, DOGE stands out as an interesting investment option.
Brief technical history of DOGE
The process of creating Dogecoin within blockchain networks is different from many other tokens. This is because it takes place using Scrypt technology. It replaces the Proof-to-Stake (PoS) protocol used in many other cryptocurrencies. Also, your block time is one minute, and there is no limit on your total supply.
Currently, several billions of cryptocurrencies have already been mined, by independent initiatives and mining pools. Its community is very active, so it puts it in several important events, especially sports. In addition, this is one of the cryptocurrencies accepted as a payment method by Burger King.
Another nice highlight is that the mining process for DOGE is the same as for Litecoin. That’s because they were merged. Regarding values, the token never reached very expressive levels, although it had highs. Today it is worth about US$ 0.16, just over R$ 0.90. In addition to mining it, it is possible to buy crypto assets on exchanges such as Hokk Finance.
creating account
For those who have never bought a cryptocurrency and intend to start with Dogecoin, an important warning. You need to have a digital wallet to store your tokens. There are several apps to do this. In the specific case of DOGE, Coinomi, Dogecoin Wallet and Jaxx stand out.
After completing this process, go to the Binance website and register. To do this, click on the “Register” icon, which is at the top right. Next to it, there is the “Login” tab, which can be used to enter the site once you have entered your details.
make deposit
After carrying out this process, purchase the Dogecoin cryptocurrency from the “Buy Crypto” menu. It is located at the top of the site in the left corner.
By placing the cursor over it you will have access to a menu. It is possible to locate the token of your choice, define the payment method for it, and other details of your transaction.
Buying Dogecoin
In this space, just locate the DOGE and follow the on-screen instructions to complete your purchase. If you prefer, you can also purchase it from the Binance trading area. It is at the bottom of the site, under the “Start trading now” menu.
By clicking on it, you will go to a new screen. There it is possible to follow transactions of various cryptocurrencies in real-time. In the right part of it, there is a search menu.
Search for Dogecoin and select your token. Then, simply complete the transaction by accessing the button at the bottom of the website, if you are logged in. If you are there without your data, press “Enter” to log in to the platform and complete your transaction.
Is it worth buying Dogecoin (DOGE)?
It’s been a while since this simple “Meme Coin” stopped being a joke. Gradually the token is gaining more and more value, which makes it an investment option for some.
To do this, follow the steps above and buy the token on Binance. You might be pleasantly surprised at the feedback you get from him.
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