Dogecoin is a cryptocurrency created by software engineers Jackson Palmer, and Billy Markus as a joke in response to the wild speculation in cryptocurrencies at the time. The cryptocurrency's name, and logo are based on the Shiba Inu dog from the "Doge" meme.
It launched on December 6, 2013, and quickly grew its community online, ultimately hitting a market capitalization of more than $85 billion in May of 2021. The creators advertise Dogecoin as a "fun, and friendly internet currency," referring to its origins as a joke.
This virtual currency has been on a crazy ride this year, with many investors piling in. It started the year at less than a cent in value, briefly increasing in value as high as 74 cents. At its high point, Dogecoin had a gain of more than 15,000 percent. Dogecoin Trader lets you invest in, and trade Dogecoin. Sign up today to begin your cryptocurrency trading journey!
Dogecoin was created in late 2013 by software developers Billy Marcus, and Jackson Palmer. Palmer made the cryptocurrency's logo by mistyping the word "doge" to describe a Shiba Inu dog, which was popular at the time.
In the beginning, supporters organized publicity stunts to raise Dogecoin's profile, such as raising funds to send the Jamaican Bobsleigh team to the 2014 Olympics or sponsoring a NASCAR driver.
Today, Dogecoin is no laughing matter, having skyrocketed in value. Elon Musk, CEO of Tesla, is one of its supporters, calling Dogecoin his preferred cryptocurrency. Musk also referred to Dogecoin as the "people's crypto” and promised to place a tangible Dogecoin token on the moon.
Here are a few good reasons why you should consider investing in Dogecoin with Dogecoin Trader.
No one wants to invest in an unstable cryptocurrency. Most investors assess the cryptocurrency's stability before investing. Dogecoin's stability is unquestionable. The cryptocurrency recently celebrated its seventh year in the cryptocurrency world.
Only stability has propelled Dogecoin forward thus far. It has gained special recognition in the cryptocurrency community for its stability, outperforming other cryptocurrencies.
Dogecoin's price has been steadily rising over the last few years. It continues to strengthen its position in the crypto world, and the best part is that Dogecoin's market capital has expanded at an extraordinary pace since its inception.
Within the next few years, the market value of Dogecoin is expected to reach an incredible $70 billion. What better way to invest than in a rapidly expanding virtual currency like Dogecoin?
The Dogecoin blockchain already contains 130 billion Dogecoins. Furthermore, 5 million new Dogecoins are added to the blockchain each day, increasing the total number of coins in the system.
Experts predict that Dogecoin would never become extinct in the cryptocurrency world. The cryptocurrency's security features make it a strong contender for cryptocurrency investments.
As a newcomer to the crypto world, you may lack the confidence to invest in a heavyweight cryptocurrency such as Bitcoin.
Dogecoin could be a better alternative for beginners. It is a low-value cryptocurrency, which is why most newcomers to the cryptocurrency industry prefer investing in Dogecoin over any other cryptocurrency.
Dogecoin Trader makes it a lot easier to invest in, and trade Dogecoin. There are no face-to-face interactions required to set up your trading account. All you need is a mobile, or desktop device, and an internet connection.
Crypto investors are less risk-averse than crypto traders because they are happy to leave their investments alone for long periods and are uninterested in daily price volatility. The volatility of an asset smooths out over time, making investments a less risky option.
Traders are more risk-takers than investors because trading entails more risk. This is because of the extreme volatility of short-term cryptocurrency prices, which can provide traders with opportunities to make large sums of money but can also be disastrous if they lose the bet.
Furthermore, traders regularly engage in margin trading, which entails having to borrow money for trading from a third party. Margin trading significantly increases trading risks because it allows traders to make more money while increasing their potential losses. Are you a risk-taker, or do you prefer to play it safe? Dogecoin Trader has a solution for you.
Cryptocurrency trading entails speculating on price changes with a Dogecoin Trader trading account or buying and selling the underlying coins on an exchange. When you exchange digital currencies, you do so without owning the coins.
It entails making predictions about which cryptocurrencies are likely to rise in value and are likely to fall in value. You can buy cryptocurrencies that you believe could grow in value and sell those that are expected to decline in value.
When you purchase cryptocurrencies from an exchange, such as Dogecoin, you are purchasing the coins themselves. To open a position, you must open an exchange account, deposit the full value of the asset, and keep the cryptocurrency tokens in your digital wallet until you are ready to sell.
There are two ways to trade Dogecoin with Dogecoin Trader. These are: Direct trading via Dogecoin Trader’s App & Trading via a crypto broker
Peer-to-peer exchanges are possible with direct trading platforms. This means that transactions are conducted solely between the buyer, and seller, with no involvement of a third party, such as a cryptocurrency broker.When you engage in direct trade, your purchase, and selling prices are added to the orders of other users. If the two amounts match, the trade is complete. This is a less expensive, but riskier, method of trading cryptocurrencies.
Trading directly through crypto exchanges necessitates extensive research, and sound knowledge. If you do not have the time to devote to research, and study, or if you are a beginner, it is best to trade with a crypto broker.The use of a cryptocurrency exchange is required for direct trading. This exchange displays real-time cryptocurrency prices as well as their performance, allowing traders to buy and sell cryptocurrencies at their leisure.
Dogecoin Trader allows traders to participate in cryptocurrency trading via its exchange, which is accessible through a mobile, or desktop application.
To begin trading on Dogecoin Trader's exchange, you must first set up a trading account. This can be done easily in three simple steps.
Go to Dogecoin Trader’s website and complete the registration form provided. Be sure to provide a valid phone number, so a crypto broker, or account manager can reach you.
You can expect to receive a call from a crypto broker, offering his services. The choice to accept, or decline his services is yours. Should you accept, you should receive further instructions from him. Alternatively, you would need to download the software, or mobile application to access the exchange platform and begin trading directly.
Before you can begin trading, you must first make an initial deposit into your digital wallet. You can link several payment methods to your digital wallet to make deposits, and to make withdrawals.
To avoid losing your money, you must understand that trading necessitates a high level of concentration. It is not, and should never be a gamble. Aside from the five tips listed below, make sure you pay close attention to market influences such as supply, and demand to determine when each of these tips applies.
You must have a clear goal in mind when engaging in crypto trading. Whether you want to scalp, or day trade, you must have a reason for exchanging these cryptocurrencies. You must understand that for every win, there is an equal, and opposite loss.
Define a clear stop-loss threshold to help you cut your losses, which is a competency that most traders lack.It is important not to get carried away by your emotions when doing this. The same is true for profit levels. If you want to exit the market after making a certain minimum profit, do it. Do not be swayed by greed.
Think about investing a smaller portion of your portfolio in a less liquid market. Such high-risk trades necessitate greater patience, and the stop loss, and profit target points are often set further away from the buying level.
It is better to decide whether to buy a cryptocurrency based on its market capital rather than its current price. The greater the market capitalization of a coin, the more appropriate it is for investment.
The prices of most altcoins (cryptocurrencies other than Bitcoin) are determined by the current market price of Bitcoin. It is essential to understand that Bitcoin is highly volatile in comparison to fiat currencies. A simple way to understand the correlation is that when the price of Bitcoin rises, the value of altcoins falls, and vice versa, so keeping track of Bitcoin's performance is important.
Using a broker is another option for those looking to purchase a product, or service, acting as a middleman between a Dogecoin buyer, and seller. Keep in mind that cryptocurrency brokers do charge a fee for their services if you choose this method of trading.
Trading through a cryptocurrency broker is highly recommended for a newcomer because direct trading on a crypto exchange can be risky if you do not know what you are doing. Crypto brokers are also ideal if you want to purchase a small amount of cryptocurrency. In addition to facilitating trades, brokers could give their customers the service of holding cryptocurrencies.
Because crypto brokers act on your behalf, it is important to choose a registered broker with the relevant paperwork, and experience in the cryptocurrency market. If you have a busy lifestyle but would still like to diversify your investment portfolio with the addition of a Dogecoin investment, or trade Dogecoin for another cryptocurrency, a cryptocurrency may be the way to go. Dogecoin Trader offers its users brokerage services. Our registered crypto brokers have experience in cryptocurrency trading and would be happy to help you with your cryptocurrency trades.
Experts expect Dogecoin to grow along with the rest of the fast-growing cryptocurrency market, though it could have long periods of flat price action accompanied by sudden increases, as we have already seen in the past.
Elon Musk, CEO of Tesla, and billionaire has adopted Dogecoin as a pet project, frequently sharing dogecoin memes on social media, and requesting developers to submit upgrade ideas, and improvements. Musk alienated much of the Bitcoin community with his Dogecoin support, and proposal that dogecoin could "beat Bitcoin hands down" if transaction fees were reduced, and network speed was increased.
Despite Musk's efforts to validate the cryptocurrency, many remain skeptical that it could ever compete with the likes of Bitcoin, Ethereum, and other cryptocurrencies.
Yes, you can. Dogecoin Trader has developed a mobile app that can be download onto any smartphone, allowing you to trade, and invest on the go, at any time of the day, or night.
At the time of writing, the value of a single Dogecoin is $0.27. Although the price of the currency does fluctuate, it usually stays below one US dollar.
Dogecoin’s popular commercial applications have surfaced on the internet, such as a tipping system, that social media users can use to tip someone else for creating interactive, or notable content.
Physical items can be traded for Dogecoin on virtual forums like Twitter, and Reddit, where users often share cryptocurrency-related information.