The Doge meme, featuring Shiba Inu with funny phrases and words superimposed on images with colorful Comic Sans text, went viral online in 2013. Two software engineers, Billy Markus and Jackson Palmer , both of which are fans of the meme, decided to create a cryptocurrency based on it. They wanted to create a fun, user-friendly and accessible cryptocurrency that was easy for anyone to use.
Dogecoin is a cryptocurrency based on the Litecoin blockchain. In contrast, Litecoin is a fork of Bitcoin. Although Dogecoin shares some similarities with these cryptocurrencies, there are key differences. Firstly, Dogecoin has a much larger supply than Bitcoin or Litecoin. Although there will only be 21 million Bitcoins, there are already over 130 billion Dogecoins in circulation.
Another key difference is that Dogecoin is designed to be a very light cryptocurrency. Transactions are processed much faster than Bitcoin or Litecoin and transaction fees are much lower. This makes it an ideal cryptocurrency for micropayments and small transactions.
To buy Dogecoin, you first need to choose a cryptocurrency exchange that offers this currency for trading. Some of the popular exchanges offering Dogecoin include Binance, Kraken, and eToro. Once you have selected an exchange, you will need to create an account and complete the necessary verification steps.
Once your account is created, you can deposit money into it by bank transfer, credit card, or other payment method. Once your coins are deposited, you can use them to buy Dogecoin. The process of buying Dogecoin is the same as buying any other cryptocurrency on an exchange.