What is Dogecoin?
Crypto is indeed a fun form of payment. Dogecoin, Shiba Inu, and the likes have proven so many ways. Genuinely these dog-based meme coins have sparkled a form of entertainment in digital assets.
What is Dogecoin? It is a sarcastic form of digital money created by software engineers Billy Markus and Jackson Palmer. It is based on the Litecoin blockchain, compatible with all Litecoin wallets. The native token of this crypto is DOGE.
Why Was Dogecoin Created?
Dogecoin started as a joke to hype up the surrounding cryptocurrencies in 2013. It mainly poked fun at Bitcoin and its community. Dogecoin utilizes the Shiba Inu Japanese dog breed logo to achieve this.
Dogecoin, as in Dog, has grown rapidly over the years; however, it is highly inflationary. The reason is that Dogecoin doesn't restrict or set mining limits like Bitcoin. Bitcoin maintains its top position as it has a lifetime cap on the number of mined Bitcoin.
When miners mine more of Dogecoin, its prices tend to fluctuate. It becomes difficult to trade with this crypto in the long run as speculation of prices is impossible. Nonetheless, compared to other cryptos, Dogecoin still has a lot of merits, like speedily ratifying new blocks.
Dogecoin and Shiba Inu
These two cryptocurrencies are great competitors, not to forget great dog meme coins. Shiba Inu, otherwise known as the Dogecoin killer, was created by Ryoshi to poke Dogecoin. Shiba Inu also utilizes the Shiba Inu hunting dog as its logo.
However, the main purpose of this Ethereum-based blockchain is to see how a community can fully run crypto. The Shiba Inu community greatly supports its crypto. There is even a Shiba Inu metaverse known as SHIB coming up.
Where and How to Buy Dogecoin?
If you are interested in purchasing Dogecoin but don't know where to start, don't worry. We got you. Dogecoin is available on various crypto exchange platforms like Coinbase, Binance, Kraken, etc.
So, let us look at how you can get Dogecoin using Kraken, one of the best crypto platforms.
The first step is to open a Kraken account. Listed below is a detailed procedure on how to do so.
Step 1: Go to Kraken's Official Website
Depending on your preference, you can access the website using Android or iOS.
Step 2: Tap on the ‘Create Account’ Option
Once you open the Kraken website, you will find the 'Create account option in the upper right corner.'
Step 3: Fill in Your Personal Information
Some of the vital info includes your email address, password, etc. Afterward, agree to the terms and click on the agree box.
Step 4: Verification
Kraken will send a verification link to your registered email address; click on it to trigger account activation.
You are now ready to purchase Dogecoin
Step 5: Deposit Cash
The next thing is to fund your Kraken account so that you can exchange it for Dogecoin.
Step 6: Buy Dogecoin
You can comfortably search for Dogecoin and purchase it using the Kraken tools and features. There is also 24-hour global client support to assist you.
It would be best to take proper care and articulation of risks before purchasing any crypto. These assets are highly volatile, which can lead to extreme losses. On the positive side, they are highly profitable.