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Review on Dogecoin by Kathrin Cole
Dogecoin is very popular with investors in the Asian markets, in countries…
Dogecoin is very popular with investors in the Asian markets, in countries like Korea, Japan, and even China.
On the other hand, the long period of inactivity on the development side has left people wondering if Dogecoin will be useful at all in the future. The team behind the project says that an update for Dogecoin will likely come very soon; however, that remains to be seen.
Pros
- Cheap - only so much coins (i counted 5 in total) in top 50 with such favorable whole unit price Fast - 1 minute block interval, 0-1 confirmation required for u Stable and reliable - based on Bitcoin, merged mining with Litecoin Famous Listed on a lot of exchanges Cute mascot Cheerful subreddit Promotes spending with ~5% annual inflation rate
Cons
- Difficult to understand – Cryptocurrencies are relatively new and come with a learning curve. People end up investing without proper knowledge and lose money to something they did not learn about. Lack of knowledge – People are not aware of how to use cryptocurrency and hence open themselves to hacker. The technology is somewhat complex and therefore one needs to be mindful of it before investing.
