“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?
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 cryptocurrency uses 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 a “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 merchants worldwide, allowing you to purchase food, household supplies, and even website domains.
To learn more, check out Dogecoin’s Whitepaper: https://www.allcryptowhitepapers.com/dogecoin-whitepaper/
Eager to buy Dogecoin (DOGE) but not sure how? No worries! Bitbuy is the simplest and most secure platform to buy Dogecoin (DOGE) from. Bitbuy always ensures the lowest associated fees and highest security when buying, selling or trading cryptocurrency.
Investors can easily invest in Dogecoin (DOGE) by creating an account with Bitbuy, adding funds to their account directly through e-Transfer or bank wire, and buying Dogecoin directly through the Bitbuy platform. Experience problems or need questions answered along the way? Do not fear, Bitbuy is always here. Our customer support will ensure your investment journey is smooth throughout.
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!
Buying Dogecoin (DOGE) in Canada as well as other digital currencies is simple and secure with Bitbuy. Here is how it works:
If at any point you need help signing up, verifying your account, adding funds, or buying and selling DOGE , just contact customer support for same-day assistance.
Bitbuy is one of the best and most secure places to buy Dogecoin in Canada. Here is why:
Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 99% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy, it is crucial users know that their digital assets are is safe with us.
Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy Dogecoin (DOGE).
Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient.
We pride ourselves in our exceptional customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.
Interac e-Transfer is the most popular way to pay online in Canada. Canadians want to buy Dogecoin with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy DOGE in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you then use to buy and sell cryptocurrencies in Canada.
Looking for a place to store your DOGE? Bitbuy is the perfect place to start. Bitbuy has a built in wallet in each user’s account that you can use to store your DOGE safe and securely.
Website (instructions for the mobile app below)
When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To facilitate the trade click the 'Sell' button which will appear in red.
Click the drop-down and search DOGE to begin the sale.
Enter the amount of DOGE that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary'. When you are ready, click the 'Sell' button to complete the transaction.
Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.
Locate DOGE and click on the 'Sell' button.
Enter the amount of DOGE you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!
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Quickly find the answers you need in our support centre, or contact a member of our team 24/7/365, and we'll be happy to assist you.
Bitbuy was designed for both new traders seeking a simple interface and for advanced traders who know their way around the crypto world. We understand that getting started with cryptocurrency can seem a little daunting and our goal is to make the process easier for you.