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What is Dogecoin and how can I buy it ?

Dogecoin is a crypto currency and you can buy it from crypto exchanges such as Coinbase. Dogecoin crypto currency can be bought from crypto exchanges just like Bitcoin. According to the Coinbase, the less popular crypto currency started out as an internet meme. Dogecoin crypto currency was founded in 2013 by former software engineers from IBM and Adobe. Its market of 7.3bn GBP is much smaller that Bitcoin’s staggering 520bn GBP. The difference between the two is that, unlike Bitcoin, Dogecoin has no hard limit to the amount of coins.

It has a low price per coin when compared to Bitcoin’s established reputation and price.

How can I buy it ?

Dogearmy popular meme
Dogecoin’s “Dogearmy” meme popular on the internet

You can buy Dogecoin from most crypto currency exchanges such as Binance or Kraken. Compared to it’s competitors such as Bitcoin or Ethereum, Dogecoin is not as available.

Links to crypto exchanges where you can buy Dogecoin:

Dogecoin Price Chart (DOGE) | Coinbase

Bitcoin & Cryptocurrency Exchange | Bitcoin Trading Platform | Kraken

Alternative purchase options

You can also buy most crypto coins even from stock brokers such as Revolut or Robinhood. Robinhood did struggle with surging demand recently and currently is facing a law suit :

GME stock creates Robinhood lawsuit Global – newsflash

Binance and Kraken are the largest exchanges that offer Dogecoin trading. There are fewer cryptocurrency brokers that offer Dogecoin compared with more popular coins, such as Bitcoin or Ethereum. 

Why is the price of Dogecoin surging ?

Dogecoin upgraded to a hot asset among crypto currency fans but also among investors who are looking for short term profits.

Additionally, the recent struggle between the retail investors and Wall Street’s hedge fund managers on stocks such as Gamestop ( GME) or AMC has lead to a general distrust in the market’s legitimacy since brokerage firms such as Robinhood decided to stop these trades, seemingly siding with the hedge funds.

Dogecoin’s rise in value more relates to Reddit’s users campaign looking to profit from it. Compared with GameStop, there are no hedge funds on the other side of the trade here.

Moreover, Dogecoin is also popular because it references a long-running internet joke, and its rise in prominence is seen as entertainment by some of its internet fans, who refer to themselves as the “dogearmy”. Elon Musk’s recent tweets have also aided the crypto asset to rise in its value.

Elon Musk raising Dogecoin
Elon Musk’s tweet raising Dogecoin

Source:

What is Dogecoin and how can I buy it? (telegraph.co.uk)

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