Review on Dogecoin by Aman Arora
Dogecoin has limited uses but good substitute for making low fees transactions
Dogecoin was built in 2014 as a joke of doge meme and was built for fun. Dogecoin was built With a purpose yo make sure everyone can have their hands and have bigger demographic range. Dogecoin was not so popular but with time its popularity gained momentum as it was easy and faster to transfer dogecoin from one wallet to another wallet without paying high fees. I use bitcoin conversions to dogecoin to easily store value and avoid paying high fees and Network Congestion. Due to higher supply and adoption exceeding the expectations with almost all top mobile wallets allow dogecoin exchanges.
Dogecoin block take 1 minute to mine and generate 10000 dogecoin. Dogecoin supply is infinite and currently over 127 Billions doge coins in circulation with dogecoin having market cap close to $400 Million.
Dogecoin became very popular to be used as internet tipping system as user tip dogecoin on social media for providing valueable and interesting content.
I personally dont see or recommend any investing opportunity in dogecoin as due to infinite supply and low value it is the most manipulated altcoin on exchanges. I would like to see more utilities and algorithm attached with dogecoin to make it a worthy coin but still its worthy to start buying few dollars of dogecoin every month as an easy investment option as beside lot of drawbacks it is still a widely used cryptocurrency which can be converted in any digital assets in need. Dogecoin is widely traded on almost every top exchange with crosses eth USDT and btc and can be easily stored in any top crypto wallet.
Pros
- Dogecoin is easy to store and easily transferrable with low fees and speedy transactions
- Beside limited uses Dogecoin has managed to ranked among top 50 Coins
- Easy probable to use for tasks on various platforms due to instant transfers and low fees
Cons
- Infinite supply makes it hard for user to consider it has investment
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Comments (1)
November 27, 2020
Dogecoin is the most used coin. low transfer fees make Dogecoin attractive. In addition, we can perform very fast transactions. It has appreciated significantly in the last month. This both pleased and surprised users.
