Even though this cryptocurrency started as a bit of a joke, it has managed to increase a whole lot in value. And at this moment it is the fifth most valuable cryptocurrency. Figure out what the deal is with this cheeky cryptocurrency, the Dogecoin.
There are a great number of different cryptocurrencies, and more are emerging each year. Cryptocurrencies are no longer news. However, it is a market full of movements and following the course of both the old and new types of cryptocurrencies can be quite exciting. One cryptocurrency that has had a surprising journey is Dogecoin. But before we jump into this story, we must visit the sky-high rise of cryptocurrencies.
The rise of the cryptocurrencies
Cryptocurrencies have become an acknowledged part of the economic system. Even though some are still quite skeptical towards these fluctuating currencies it is hard to deny the vastly rising value of the different cryptocurrencies. A lot of people have invested money in this market of digital assets. Due to their digital nature, cryptocurrencies have raised awareness of the importance of cybersecurity. Cryptocurrencies have taken over the financial market. And Bitcoin has skyrocketed and proved that this digital asset is here to stay. Since Bitcoin was introduced, the field has only expanded, and new cryptocurrencies are seeing the light of day.
The cheeky Dogecoin
Dogecoin was initially released in 2013 and it was essentially created as a joke designed to mock the world of cryptocurrencies. However, dogecoin has now become the fifth largest cryptocurrency in 2021. And its name and design derived from a meme of a Shiba Inu dog that was once popular and used quite regularly. If you want to learn more about how this joke evolved into a very popular currency, you can read more on https://edition.cnn.com. Like other cryptocurrencies, Dogecoin runs on blockchain technology. It is decentralized and is strictly a digital asset like all other cryptocurrencies. Decentralization means that it is not controlled by any central bank or financial institution. It is roaming freely which makes it both risky and difficult. Even though there have been discussions on regulating it, it will probably cause a bit of resistance.
Investing in Dogecoin
Dogecoin entered the market intending to provide a cheaper alternative to Bitcoin, and it still offers this quality. Therefore, it is a possible investment for much more than the extremely expensive Bitcoin. If you are interested in investing in this cryptocurrency. You should investigate the possibilities through https://cryptomeister.com/dogecoin. Through this site, you can find the best Dogecoin brokers in 2021. You are even able to read their different reviews so you will be sure that they are trustworthy and reliable. This is of course important when you are dealing with financial matters. You can orientate in the different site’s fees both the maker and taker fee. This is important information if you want to get a good start investing in Dogecoin and general cryptocurrencies. You will need to do your research before you post money into the digital asset.