Dogecoin is one of the more exciting cryptocurrencies in today’s market. Dogecoin started as a joke of sorts, but it has evolved into one of the most valuable alternate cryptocurrencies in today’s market. It’s also a currency that people can exchange after sharing or producing online content that is worthwhile.
You can exchange Bitcoin to Dogecoin when you use Swapzone to help you in the effort. Here’s a look at how Dogecoin works and how you can exchange Bitcoin to DOGE.
Dogecoin was created by Billy Markus and Jackson Palmer in 2013. Dogecoin features a meme-based photo of Kabosu, a Shibu Inus dog as its logo. The currency was introduced mainly as a joke, and it even had an initial promotional website that featured the Comic Sans font all over the place. The Doge meme that promoted the currency made it look silly, but it was a legitimate endeavor on Markus and Palmer’s part.
But there was a structure to the digital currency that would make it viable. Dogecoin operates on a design similar to Luckycoin, another cryptocurrency. Dogecoin provided a random reward for when someone mines a block. It has used a set value for a reward since 2014, but the reward-based system for producing the currency was popular.
Bitcoin Cash was formed in 2017 off of a hard fork from the original bitcoin blockchain. The fork entails a dramatic change in a blockchain’s protocol. The change causes some blocks to become invalid, while others are now valid alongside the new rules in the chain. All users or nodes must upgrade to the latest protocol for them to continue using something.
The Dogecoin community helped make the currency more valuable. The virtual currency grew thanks to how it is easier to mine and access than other items. A scrypt-based system works here, meaning that the currency works through a password key with a unique code for each user. The scrypt-based setup also works as a proof-of-work feature for Dogecoin mining purposes. The barrier of entry for producing Dogecoin is minimal when compared with what you’d get out of other currencies.
An average Dogecoin block will be produced in about a minute. A Doge miner can also produce as many coins as one wishes. Dogecoin is uncapped, thus making it an inflationary coin. There are about 125 billion Dogecoin tokens available as of June 2020.
Dogecoin is an open-source cryptocurrency. Its code is available to the public under the MIT license. The feature means that you can use the system that helps in producing Dogecoin to get more out of the currency.
Dogecoin can work as an online currency. But most people who use Dogecoin utilize it as a tipping currency. People can tip others with some tokens for when they create or share quality content while online.
The Dogecoin value is a vital part of why the currency is popular. The minimal price makes it easier for people to access.
As of June 2020, DOGE has a value of $0.00232. The currency has a market cap of about $290 million. People trade about $165 million in DOGE each day on average.
The Dogecoin price has been hovering under a full cent for much of its life. But a Dogecoin prediction suggests that the currency can rise to half a cent in value. Tesla CEO Elon Musk has been a strong supporter of Dogecoin, even going as far as to say it’s his favorite cryptocurrency. Regular Dogecoin news will influence how the currency works. It helps to take note of what you will find when acquiring the currency.
Another part of what makes Dogecoin popular is that it has one of the lowest transaction fees. An average transaction for the currency is good for one token. The minimal value of the currency and its lightweight design makes it easier for the currency to be transferred without charging lots of money.
You can buy Dogecoin if you are interested, but it may be easier to exchange BTC to DOGE if you prefer. The great news is that Swapzone can help you in transferring the currency in moments.
You can use Swapzone to exchange bitcoin in moments. Here are some steps you can utilize to make this crypto exchange work: