What Exactly is DogeCoin (DOGE)?

We’re talking about the one and only Dogecoin (DOGE), which has survived bear markets, testing time, and has proven the concept of community rallying more than any other cryptocurrency out there.

On December 6th 2013, Billy Markus and Jackson Palmer created Dogecoin, a cryptocurrency based on a popular internet meme of a Shibu Inu dog named Kabsou, who’s no longer here.

Although started as a complete joke with no value, Dogecoin quickly gained an online following amongst the early crypto community looking for the next big altcoin gem. Eventually, though, the meme-loving crypto gained traction and value as it became a popular way to tip content creators on Twitter and Reddit.

How does it work & where can we buy it?

Like Bitcoin, Dogecoin uses the same technology, but there are some key differences. DOGE is a decentralized digital currency that offers users the ability to send money online without the use of bank accounts.

The number of Dogecoins that will be produced is one of the big differences between Dogecoin and other cryptocurrencies like Bitcoin. Dogecoin doesn’t have a maximum limit like Bitcoin does, so there’s no hard cap. That means new Dogecoins can be mined indefinitely, so inflation concerns have arisen.

Another big difference between Dogecoin and Bitcoin is how long it takes to make a payment. Dogecoin transactions usually take a lot faster than Bitcoin transactions, which can take up to an hour to confirm. Dogecoin is great for small, everyday transactions.

In September 2022, Dogecoin made the switch from proof-of-work to proof-of-stake through its merge with Ethereum, which enabled Dogecoin to become the second-largest proof-of-work cryptocurrency after Bitcoin.

There are a lot of cryptocurrency exchanges where you can trade DogeCoin, including DIFX, where DogeCoin is available as a DOGE/USDT pair for users to trade.