Investing in Dogecoin. Dogecoin Wallets

Dogecoin - P2P digital currency

Dogecoin is a cryptocurrency created on the basis of Luckycoin (and which was created on the basis of Litecoin) by programmer Billy Markus and marketer James Palmer, and initially the very creation of this cryptocurrency was in honor of the Internet meme "Doge", which was a joke based on what sharp jumps Bitcoin made in 2013 year.
Billy and James wanted to create a digital currency that would be more familiar and easier for everyone, as opposed to the popular Bitcoin, which has a history of a ‘hard to understand’ crypto.
As in Luckycoin, the reward for each block was set randomly. In 2014, this changed and introduced a fixed block reward. The coin is not included in the top ten either in terms of capitalization or in terms of trading volume, but this does not prevent it from being one of the most popular coins.
Dogecoin is a decentralized digital currency, and one of the most popular ways to use it, is to pay for “internet visitors” who are rewarded for their active actions that create or share content. When the coin was created, it was stated that the emission would be 100 billion coins, but later this limitation was removed and 120 billion coins have already been mined and the number continues to grow.
One of the main advantages over other popular coins is its transparency and user confidence, since this representative of the digital currencies was not seen participating in "muddy" schemes.
Mining Dogecoin is not a difficult process and you do not need a super-powerful computer to earn money while mining Dogecoins, an average-powered computer is enough (of course, you practically won't make money on this, but you can try it for fun).
Dogecoin has the same algorithm as Litecoin, but with some changes: the creation of one Dogecoin transaction block occurs once a minute, unlike Litecoin, which takes 2.5 minutes to create a block. The full confirmation procedure for Dogecoin takes about 6 minutes, and for Litecoin - about 15 minutes (6 blocks are involved in the confirmation procedure). The difficulty of mining is recalculated every 240 blocks: this means that when miners raid, the difficulty adjustment will be recalculated and changed within 4 hours.
After the development of ASICs in 2014, which works with the "Scrypt" algorithm, miners began to use them to mine Dogecoin, this instantly increased the difficulty of mining coins.

The place of Dogecoin on the crypto market

Dogecoin is a well-publicized cryptocurrency based on the hype around the underlying meme. The coin's value peaked in its first year, after which its value “floated on the waves”. Until now, Dogecoin is not included in the top 10 coins, but it remains one of the most popular and recognizable tokens on the cryptocurrency market.
On December 17, 2013, Doge was valued at $ 0.000255. A month later, in January 2014, the rate reached $ 0.002306, that is, it grew almost 10 times. After that, it also pulled back sharply and was at lows for the last three years. In early July 2020, a TikTok user released a short video urging people to buy Dogecoin to capitalize on the rise in its value. The video collected over 58 thousand likes and 4 thousand comments.
Major exchanges have taken advantage of Doge's peak in popularity and have provided their clients with more options for interacting with altcoin. For example, on July 10, Binance Futures launched DOGE / USDT perpetual contracts with up to 50x leverage. But that's not all. The head of the Tron project, Justin Sun, after the growth of Dogecoin, announced that from now on, his project will focus on building an audience on TikTok. And he promised to make the videos of the blockchain startup go viral.
In the long term, it is not clear what the developers of the Dogecoin are counting on, because unlike the rest, it has practically no practical use outside the Internet.

Best Dogecoin Wallets

Let's try to briefly explain what digital storage software is. Comparing a crypto wallet with a regular wallet is not entirely correct. Digital tokens of a particular ecosystem are always on the blockchain. The copy of the blockchain is irrelevant. You can access your assets through these wallets.
The distribution of "dog coins" between users is recorded through certain public addresses. These letters always begin with a capital letter "D". You can tell the public address to any member of the network. If you have a public address, then there must be a private key. And there certainly is one. If you lose your private key, you will receive a public key of that private key of yours. This key can take all coins with public addresses.

The official Dogecoin Core wallet downloads a complete copy of the blockchain to your hard drive. The wallet software refers to this blockchain and allows you to work with your coins, and while it is running, it becomes a node that contributes to the main network.

Web wallets do not require you to install the application on your computer. You can get access to assets by creating a personal wallet on the site.

Dogechain - the service is available all around the world, to create a wallet open the dogecoin wallet tab, select Create Wallet and enter your email and password and afterwards click the create wallet button in the registration window. Save your identification code and go to the home page. When you have created a dogecoin wallet, registration is complete. Unfortunately, there are not a lot of languages available, but the interface is quite simple and intuitive. This wallet is considered as the best Dogecoin wallet.
Freewallet - to register a dogecoin wallet on this resource you will need to do the similar steps: enter and confirm your email address; create password and pin code. Freewallet is a multicurrency service supporting dozens of digital assets. To activate the doge wallet, open the Coins tab and select the desired coin with the checkbox. In addition to the online wallet, the mobile version of Freewallet is available to users. Freewallet is great for players, who enjoy spending time in any dogecoin online casino.

Block.io wallet supports 3 digital currencies: Bitcoin; Dogecoin; Litecoin. After registration, create a pin code and save the mnemonic phrase, and only after that you will get access to the wallet.

Local wallets for Dogecoin cryptocurrency

If the volume of the hard drive does not allow installing a full node, download the light version of MultiDoge or WowDoge Wallet. Both programs are synchronized with a remote server and do not take up much space on your PC. Coinomi, Jaxx and Exodus multicurrency applications can be used as efficient and safe wallets for Dogecoin.

Is Dogecoin worth buying?

Unlike bitcoin with a strict emission limit of 21 million BTC, DOGE is a token with high emission and low price, which is also created in the process of mining. The initial production of coins for DOGE was greatly accelerated. By 2015, it was introduced into circulation of 100 billion coins. At the present time, the supply on the market is more than 121 billion DOGE, at which the maximum emission limit for the cryptocurrency is not set. Over these years, the Dogecoin price managed to grow, despite the fact that this asset should be taken as a joke. If the current DOGE is priced at $0.003, on July 27, 2020, the token reached a record maximum of $ 0.0187, having installed the market capitalization of $ 2 billion. Then the explosive growth of the cryptocurrency market was replaced by a fall, which was reflected in on DOGE. Taking into account the upcoming asset indicators, some experts consider DOGE as an object for potential investments. Indeed, the coin has a long history in the sphere of cryptocurrencies, starting from 2013. Investors are more or less familiar with DOGE, which makes the increase in its prices more likely in comparison with other altcoins. In April, DOGE was boosted by more than 75%, causing a wave of investment interest, outside of the usual crypto market.