Breezy Explainer: Tips on how to Mine and Purchase Dogecoin – MENAFN.COM

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(MENAFN – BreezyScroll)

Dogecoin has grown a lot in recent years, from a joke coin “to the moon”. According to the official website, the price of this “open source peer-to-peer digital currency” has increased by almost 2,900 percent since the beginning of 2021. In addition, the market value of the eighth largest crypto coin is $ 39.1 billion as of August 24th. If you’re wondering how to buy Dogecoin, read on and find out!

Dogecoin: Now accepted by everyone

The rise of this crypto coin has been spearheaded by some high profile figures like Elon Musk and Mark Cuban. The founder of Tesla and SpaceX caused quite a stir in the crypto market. SpaceX’s Doge-1 satellite, which will launch to the moon in 2022, is something very special. Not only will this SpaceX mission be paid for in Dogecoin, but it will also be the first meme and crypto to go into space. He also released a Dogecoin song entitled “To the Moon”.

In addition to accepting Dogecoin for payment, The Shark and owners of the NBA’s Dallas Mavericks are offering a special sale for users of the coin. “Where the organization allows people to use cryptos, 95 percent of sales are DOGE,” tweeted Mark Cuban. Cuban believes it is “the people’s way of paying”.

“Dogecoin is really a meme coin. Tensions on a digital currency created as a joke to mock the silliness of bitcoin. And that says so much about cryptocurrencies in general. Their price is determined by speculation and traders, not by any fundamental value or the fact that they are backed by assets, ”explained Hames Royal. After all, the crypto-coin has achieved cult status with the new generation of investors who are active on Twitter and Reddit.

How to buy Dogecoin

Just like other cryptocurrencies, you can buy Dogecoin on various online crypto exchanges. Coinbase, Gemini and Kraken are just a few of the many others. You can sign up for an account and fund the account to buy the crypto. However, some applications only accept bank transfers while others accept credit cards. Unfortunately, buying cryptocurrencies with plastic is a bit expensive due to the additional fees involved.

In addition, a digital wallet for storing cryptocurrency is vital for all investors. They are very secure and you can save it on a dedicated device or the hosted wallets offered by exchanges. The “wallet” is similar to a savings or current account. In addition, the wallet also acts as a lost and found password as it helps in retrieving lost saved passwords.

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