Are you clueless about dogecoin or even the cryptocurrency market? Well, here are some of the top questions asked by digital currency novices. Also, a list of some of the best Internet resources around is listed below.
1. What’s a dogecoin?
A: Dogecoin (DOGE) is a litecoin-derived cryptocurrency.
2. Why is it called dogecoin?
A: Dogecoin is based upon the Shiba Inu from the immensely popular 2013 “Doge” Internet meme, which is used as the digital currency’s primary logo.
3. How much is dogecoin worth?
A: One dogecoin is valued at less than one penny.
4. Is dogecoin just like bitcoin?
A: It shares the same concept like other cryptocurrencies, but it uses the same cryptography as litecoin and is an inflationary virtual currency as opposed to a speculative deflationary asset, such as bitcoin.
5. Where can I buy dogecoins?
A: Dogecoins can either be mined or they can be bought or traded for at online exchanges.
6. Can I make money from dogecoins?
A: It’s possible because the market fluctuates each day, but it requires buying thousands and thousands of dogecoins. It should be noted that the creators intended it as a usable currency as opposed to an investment.
7. Are dogecoins safe and secure?
A: Dogecoin is still brand new to the world of cryptocurrencies so its developers are still working out its kinks and potential vulnerabilities. Encryption and a strong passphrase are important to making sure your dogecoins are not stolen.
8. If dogecoin is just based on a meme, can I create my own cryptocurrency?
A: Yes. You can use the publicly available bitcoin open source code.
9. Is dogecoin a better digital currency than bitcoin?
A: It all depends on your economic viewpoint: inflation vs. deflation, currency vs. asset
10. Who accepts dogecoin?
A: Dogecoin isn’t as widespread as bitcoin, but there are several retailers accepting dogecoins.
The cryptocurrency community provides real-time reporting and spots news 24 hours a day, seven days a week. There are various resources that are used to gather information regarding bitcoin, dogecoin and the digital currency market, but the websites that have provided the most value to prior research.