Dogecoin is a cryptocurrency like Bitcoin and Litecoin. With Dogecoin, you can send money online quickly and easily. You don’t need to use your bank account or fill out forms with Dogecoins; it’s all done through the blockchain platform. But how do you buy dogecoin? Here are some pointers on buying, selling, trading, storing, tipping others for doges using the virtual currency!
Dogecoin vs Bitcoin
Dogecoin is a cryptocurrency like Bitcoin, but it’s very different. Programmers created it in 2013 as an alternative to the more popular Bitcoin.
The main difference between dogecoin and bitcoin lies in their respective mining processes. Whereas bitcoins are mined using complicated computer software algorithms, doges can be mined simply through processing transactions on your computer, making them easier to mine than bitcoins for beginners!
The first thing you should know about buying dogecoins online is that many scams are out there trying to steal people’s money. Many websites will claim to sell you dogecoins at a low price but then take your money and run.
There are some legitimate websites out there where it is safe to buy doges online, though—and that’s what this article is all about!
Tips For Buying The Dogecoin
- Don’t buy more than you can afford to lose because cryptocurrencies have been known to fluctuate in value suddenly – so always be prepared if things go south.
- It doesn’t matter what type of wallet service provider you choose but first, search around before deciding which wallet service provider to use.
- To buy Dogecoin, you have to first sign up for a digital wallet on one of the many cryptocurrency exchanges.
- There are also options where you can trade coins face-to-face, but this is not recommended as it’s best if all transactions are done online because it protects both parties from fraud or scams.
- Once signed up, go ahead and purchase your desired amount of DOGE using fiat currencies like USD/GBP, etc., Bitcoin, Litecoin, or Etherium through bank transfers or credit cards.
- You should do some research into what price per coin these wallets will be selling their coins at – otherwise, there could be an overpriced markup involved when buying them directly off other people who are selling them.
- There are many top crypto exchanges where you can buy and sell Dogecoin. However, make sure to do your due diligence before making any purchases!
How To Store Cryptocurrencies?
You also have options when it comes to storing or keeping hold of your coins for safekeeping – just search around first before deciding on one that suits your needs best.
There are several types available from online wallets that might be better suited if you’re planning to spend small amounts at any given time. At the same time, hardware devices like Ledger Nano S could be more secure, but they cost money to purchase in this instance (although there are some free ones out there).
Just make sure that you keep your private keys and passwords somewhere safe, whatever you choose – this is probably the essential part of maintaining safe coins.
For the transaction of cryptocurrencies like Bitcoin or Litecoin to be successful, one needs a wallet address. In Dogecoin parlance, these addresses have an added layer of complexity due to their shorter length.
- A usual bitcoin address looks something like this: “19gBaBCDsapDbCXpjzrYqfWcUbQAeRwLnh”
- whereas a DOGE address would look more like this: “DGeSbJtrQNvUqWumDnMgjQmwZXdGfHKYuS”
If you are buying dogecoins, it is vital to use a wallet that enables the transaction of coins over the internet. There are two types of wallets: online and offline. You can access online wallets from anywhere by logging onto your web browser.
Offline wallets cannot—but they offer extra security for storing large amounts of Dogecoin because they have no connection with outside users or servers, potentially compromising your funds.
The most popular type of wallet amongst Dogecoin enthusiasts is an offline software wallet, but physical hardware devices called “hardware wallets” are also available on the market now too!
The Final Words
Dogecoin has become an extremely popular cryptocurrency since its initial release in 2013 (although it was actually launched as a “joke currency” initially). However, some people still hold reservations about using these types of digital currencies because they simply don’t understand them yet. Some other cryptocurrencies to consider looking into will be Bitcoin, Litecoin, or Etherium if Dogecoins aren’t quite doing it for you!