What is all the hype about DOGECOIN? Is Dogecoin a cesspool? What is Tesla CEO Elon Musk got to do with it? Why do he call himself "DOGE FATHER"? You will find out after reading the Article.
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| Elon Musk loves DOGECOIN |
Well, to get into the story...Elon Musk has a DOGE on Leash. "DOGECOIN" is a joke currency.. that started in 2013. After the viral Dog 🐶 meme in the Internet. From just a Joke currency to Tesla considering DOGECOIN as payment mode is the #10YearChallenge for DOGECOIN.
What is DOGECOIN?
- DOGECOIN is an open source Peer to peer Cryptocurrency which has a similar code of Lite Coin.
- Dogecoin is a derivative of Luckycoin which forked from Lite Coin.
- Dogecoin is favoured by Elon Musk and Snoop Dogg, I think no introduction needed.
- It was started as a joke in 2013 after the Dog meme went viral. (Well, Who's Laughing Now!?)
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| DOGECOIN TO THE MOON |
- It all started when Billionaire Elon Musk tweeted "DOGE barking at the Stars"
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| Elon Musk tweet about DOGECOIN |
- This tweet resulted in the price of DOGECOIN go from 0.062$ to 0.602933$ in the span of 24 hour gap on April 20, i.e almost 45%.
- No wonder Cryptocurrency is Rich people's Game.
- On that Day, Cryptocurrencies like Bitcoin and Ethereum also increased, which propelled people believe in DOGECOIN and invest in it.
- What happened next is why you came for this Article.
- Dogecoin now has almost $17 Billion market capitalisation.
- Dogecoin price is voltaile like all other Cryptocurrency, because no government support them.
- Dogecoin has became favourite subject for the users and memers in social media.
How to buy a DOGECOIN?
- There are only so many Cryptocurrency exchanges right now.
- coinbase, kraken, Bitstamp, Gemini, Binance, Bitfinex, Zebpay and BuyUcoin.
- I personally recommend BuyUcoin.
- To open a Cryptocurrency exchanges account you need to register first and give your email.
- Some Cryptocurrency exchanges free Cryptocurrency as rewards.
- Binance is facing an issue in US at present.
- BuyUcoin has direct buy/sell option and offers withdrawal rate at cheap rates for all Cryptocurrency.
- To register in BuyUcoin, you need to open an account.
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| BuyUcoin |
- First things first, register an account, you will be asked for your name, country, E-mail, your mobile number and choose your PASSWORD and whether you're an Individual or Corporate.
- Then you need to undergo KYC verification (it is mandatory). You will be asked to submit PAN document, and an identity document, and selfie verification.
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| KYC |
- Afterwards, you need to undergo Google 2 step verification, use Authy or Google Authenticator.
- Give your Bank account details like IFSC code and account number. And you will be informed by the team whether you are verified or rejected.
Why you should Not Buy DOGECOIN?
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| Dogecoin as per coindesk |
- This is the Dogecoin(DOGE) value as I write this line.
- I believe Dogecoin is all hype. I don't think it has future. Mostly Elon Musk care about it.
- As I mentioned earlier, Cryptocurrency is rich people game. Dogecoin have life as long as Musk care about it.
- Dogecoin has reached this level by pure hype like any other Cryptocurrency.
- But Unlike Bitcoin, Ethereum, Theta and all, Dogecoin is a derivative coin.
- As long as it is Social media favourite subject it has value.
- Elon Musk literally plays Dogecoin with his fingers. If he lose grip or not interested, it will FALL.
- Whenever Elon Musk wants to raise the value, he tweets about it. Or make a meme.
- On May 8, Saturday Night Live, he unintentionally calls it a 'Hustle'. And the price of a DOGECOIN falls like a House of Cards.
- Earlier, Elon Musk's Tesla company accepts Bitcoin as a payment mode. But 2 days back it took a decision to not accept Bitcoin as it is spoiling Nature because large electricity needs to be used to maintain Bitcoin Block Chain.
Check out Bitcoin Ban in India!?!(Explained)
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| Bitcoin Fall after Elon Musk tweet |
- The image clearly depicts the impact of his tweets on Cryptocurrency. Bitcoin, father of Cryptocurrency has retreated to $40K.
- While promoting relentlessly DOGECOIN, he suddenly became an Environmentalist by banning Bitcoin as a payment mode of Tesla.
- Ironically, he tweeted whether Tesla need to accept DOGECOIN as payment mode of Tesla few days back. *wink* *wink*
- As thw world saw monumental growth of dogecoin, everyone wants to take a bite of it.
- Do thorough research while investing in Cryptocurrency, trade wisely.
- Only invest what you're willing to lose, And don't go overboard ever.
- Although Bitcoin has limited supply of coins, the number of coins of dogecoin is increasing every year.
DOGECOIN to the Moon and Beyond
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| FIRST CRYPTO INTO SPACE |
- Elon Musk tweeted SPACE X is sending DOGE-1 into space and the amount for mission is paid in DOGE.
- He also tweeted " The first meme into space"
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| First Meme into Space |
- I think he is having so much fun with DOGE.
- His sole aim is to make DOGE, a leading Crypto while making slurs on Bitcoin for doing Environmental damage.
- Musk tweet on DOGE is not making any changes in DOGECOIN stock price recently.
- Those who bought it after the 24 hour spike from 0.06$ to 0.6$ are in losses now.
DOGECOIN mining
- Dogecoin mining is the process of getting rewarded with a new Dogecoin for checking the Blockchain. Yeah, quite simple right? NO!! It isn't.
- Blockchain to maintain the peer to peer transactions without a Bank and storing the information across the computers in nodes require lot of Coal fuel.
- Mining any Cryptocurrency requires lot of computing power and Hash time.
- That is why the campaign against Cryptocurrencies like Bitcoin and all started to protect Environment.
- Dogecoin mining is relatively very easy to mine than Bitcoin and Ethereum.
- You can mine Dogecoin as a pool or solo(by yourself).
- Mining as a pool means, a group of people share their computing power and Hash time, and mine together.
Summary for Lazy People
For the Lazy People who came straight down scrolling.
Is Dogecoin going to beat Bitcoin?
Only ELON MUSK knows.
Is it Safe to buy a DOGECOIN?
Dogecoin price is voltaile like any other Cryptocurrency. But I think Dogecoin is very risky!(I don't think so)
How to buy a DOGECOIN?
Click here.
Can DOGECOIN be mined?
YES!
Are you tired of Writing DOGECOIN?
🥱
Don't go overboard while investing in any Cryptocurrency. Do thorough research while buying Dogecoin. Only invest money you are willing to lose. Trade wisely.
The above information is to the best of my Knowledge.
What are your thoughts on our Article Why You should NOT BUY DOGECOIN? Why is Elon Musk related to it? Do you agree? Do you think it is safe to buy DOGECOIN? How many DOGECOIN do you have? Let us know in the comments! Check out more here.
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