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Bitbuy | Buy Dogecoin
“What’s a dogecoin?” When this question was asked on Saturday Night Live in spring 2021, many cryptocurrency outsiders flooded to the virtual currency market to learn more about this segment of the international economy. What started as an online joke, and laid dormant for many years, suddenly transformed into a tremendous investment opportunity. So, what is dogecoin, and is it still worth it to buy portions of the digital token now that the hype has subsided?
Dogecoin: A Primer
In December 2013, dogecoin officially went live after being forked from Litecoin. The open-source token became an instant hit within the infant cryptocurrency industry. Its founders, Australian entrepreneur Jackson Palmer and software engineer Billy Markus, developed the cryptocurrency based on the viral internet meme of a Japanese Shiba Inu 'doge' and envisioned a light-hearted coin that appealed to a market beyond the primary bitcoin community.
Nearly a decade later, their dreams may have been realized, thanks to one billionaire by the name of Elon Musk.
Dogecoin does differ from bitcoin in a variety of ways. The crypto uses the Scrypt technology rather than running on a proof-of-work protocol. The supply is uncapped, so individuals or pool miners can mine an unlimited amount of dogecoin. Its block time is one minute, and the average transaction fee is about 49 cents.
Despite its status as an altcoin or memecoin, dogecoin has evolved into one of the largest cryptocurrencies in the world. Thanks to this global growth and recognition, it can carry out a broad array of functions. Its primary use is to execute micropayments, such as sending tips to users on Reddit, Twitter, and dogecoin-related communities. After it went viral because of the Tesla Motors CEO’s intense interest, dogecoin has become a legitimate payment method accepted by many merchantsworldwide, allowing you to purchase food, household supplies, and even website domains.
How to Buy and Sell Dogecoin with Bitbuy
Are you interested in climbing aboard the dogecoin bandwagon? You can buy, sell, and trade the peer-to-peer decentralized virtual currency today with Bitbuy!
- Visit Bitbuy.ca and start an account by entering your email address and telephone number, and then verify your identity.
- Once your identity has been confirmed, you can deposit a minimum of $50 into your Bitbuy account using either a bank wire or an Interac e-Transfer to being your trading journey.
- Select which cryptocurrency you want to buy and trade. You have many digital currencies to choose from on the Bitbuy trading platform, from dogecoin to bitcoin, and so many more!
Time to Join the Meme-wagon?
The cryptocurrency industry has substantially evolved from the pioneering days of a decade ago! Dogecoin enjoyed a brief stint in the limelight following the 2013 internet meme that started it all; flash forward eight years to the rebirth of dogecoin, which has suddenly soared near the top of the crypto market in 2021! Despite its meme status, it has evolved into a versatile cryptocurrency serving many purposes, so there’s no better time to get in on the 'joke' and go “to the moon” with dogecoin!