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Dogecoin, as it is called, is one of the fastest rising digital currencies in the present cryptocurrency market. It has DOGE as its code name or nickname.
He initially wanted to play around his profession by creating a fun digital currency that will rival, and eventually surpass the common Bitcoin in quantity. Together with Jackson Palmer, who works for Adobe systems in Sydney, Australia made some giant strides and finally announced that Dogecoin network will continue to produce indefinite Dogecoin currencies.
It was patterned after the Bitcoin in that it uses a public key cryptography, which allows a user to generate both a public and a private cryptographic key as a pair. The user can then give out his or her public key without any fear of a cyber-jeopardy as only the private key is needed to gain any access to the already encrypted information.
The public key act as the address to which he or she can communicate in terms of Dogecoin to other users or nodes, while the private key, accessible by only the user is like the PIN that validates transactions. When analyzed in comparison with other digital currencies, its production is almost the highest with over a hundred Billion of it been already mined, and it is estimated that every year, over five Billion will be mined.
There are many members of the Dogecoin community and many other members of some other digital currencies are joining its community. There are basically two ways of buying Dogecoins, through a Dogecoin faucet and through a direct purchase of the digital currency.
The second method is buying from an online exchange, where you can use your credit card to buy it. One example of an online exchange is WeSellDoges.
All you just need to do to buy from such online exchange is supply your email address and complete simple email address verification. But in some other cases where a user wants to buy Dogecoins in very large quantity, they need to first buy Bitcoin, and then proceed to swap the Bitcoins for Dogecoins at an appropriate online exchange that can help with the swapping.
It is a very good idea if you first take a careful look at the statistics, the market structures, and the fundamental technology behind the digital currency before investing in it. Currently, its value is not as much as other contemporaries but if you are waiting for the price to go up, you may never make money from it. After confirming that you have a Dogecoin wallet, the next step is to search for a Dogecoin trading exchange.
One example is Coinbase which is very reputable as you will be sure you are not been duped. After you have Dogecoin in your wallet, Search for an exchange house online where you can buy and sell your coins or swap them for other things you may need. Please be careful when choosing an exchange house.
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