2021 guide: How to invest in Dogecoin
Learn how you can start your investments in Cryptocurrency and earn Reliable Passive income before Everything, You need to Know the Elon Musk Effect on the Price tags and other things like Blockchain coin listings.
The shit coin Dogecoin has gotten worldwide attention after it rose to a record high of $0.74 from $0.0002, it has made other Millionaires and other people regret selling on dips, and even one of the co-founders of the coin sold all his coins just to buy a used vehicle.
There are a lot of stories and many rents when it comes to them holders and even sellers of the now-famous Dogecoin which is being backed by Billionaire and multiple CEO Elon Musk.
The history of Dogecoin
Before you invest in Dogecoin and get in on the ride it's best to know the history of Dogecoin coin learn all there is to this shit coin and how a meme joke got to have a market cap of even up to 90 Billion dollars.
Dogecoin was developed with the same concept and ideology that surrounds Bitcoin which is the first and most valuable Cryptocurrency, Bitcoin had a top value of $63,000 before Elon musk opened up his mouth and the market lost around 20% which is roughly 300 Billion in crypto market value.
Dogecoin was developed and inspired by Bitcoin back in 2013, it was to be nothing but a joke. They even had the Japanese native dog the Shiba Inu dog as the image of the icon.
Dogecoin like any other Cryptocurrency can be earned through the energy-intensive process of mining
How to mine Dogecoin
Yes, you can mine Dogecoin using the GPU of your computer or you can go buy a Crypto mining Device designed specifically for Crypto mining. You can also earn Dogecoin by buying it on a Crypto exchange market like Crypto and Binance while Coinbase will start accepting Dogecoin soon so you might also get it from there in the upcoming times.
Dogecoin also does use a lot of electricity all Cryptocurrency coins do use electricity and in this regard Bitcoin, the currency developed by ghost developer Satoshi Nakamura is a heavyweight.
Why invest in Dogecoin
Investing in Dogecoin could be your game-changer, it could and might transform your life the same way it has changed thousands of lives across the world.
Others have become Millionaires, and others have earned more than 2000% from what they have put in, you might have heard the amazing stories of people who put in money in Crypto and withdrawal a lot of cash and since Dogecoin is very affordable you can be apart of this wonderful ride yourself.
Mind your cryptocurrency is dropping and a lot of people are calling it the end of the bull run but you never know when it's going to pick up momentum again.
What is the reason for Dogecoin's Current Drop?
Cryptocurrency to many who have witnessed their potential from NTF to what they have done in the world may call them the Money of the future but before you invest in Bitcoin let take this opportunity to tell you some of the things that have made our beloved underdog coin Dogecoin coin to drop from its record high of $0.74
To something as low as $0.30
China has Banned crypto mining and trading
China is among the world's richest and most influential countries out there and it has banned Cryptocurrency exchanging, crypto mining, and even shopping with Crypto, this has hugely caused Crypto of all sorts to crash. Including Bitcoin and of course Dogecoin.
It's not the first time China has made such a move on Cryptocurrency they always find, away back to the mainstream but we had to honestly say Cryptocurrencies largest and most upsetting drawl back is their unacceptance in most countries if they were accepted globally they would be hundreds of thousands in value
Another reason why Dogecoin has dropped in value this 2021 is the Elon musk effect
I'm calling it the Elon musk effect cause people expected Elon Musk to help Dogecoin Hit $1 yet, he called Dogecoin a hassle and this made a lot of people sale and most people raised their eyebrows, in short, the speculations that existed cause of Elon Musk support of Dogecoin and down talking Bitcoin made the market to crash and Cryptocurrency dropped over $400 Billion in valued a drop that's amounting over %25+ but they had been on a steady rise of to nearly %320 in growth rate.
How to buy your Dogecoin
You can purchase Dogecoin from almost anywhere in the world through a Cryptocurrency exchange platform, No matter the time people are always putting there's on sale and you can buy on Dips or you can buy when it's on the rise, remember at the present Dogecoin is valued at $0.30-0.50
It's very affordable considering where it came from and where it might be going.
To invest in Dogecoin you can simply sign up on an exchange platform like Crypto.com or Binance.com and even the popular exchange Cryptocurrency service provider called Coinbase shall also start accepting Dogecoin soon once you have done that you can simply link your bank account and make a purchase and you will exchange your money to Dogecoin, keep in mind it might rise in value or might fall depending on what the market is experiencing.
Dogecoin expectations and it's disappointing Times
Dogecoin as a Cryptocurrency has its own expectations and a strong community that refer to themselves as having Diamond hands, meaning they have strong Faith in Dogecoin and are Geniue Holders. They strongly believe at one time Dogecoin would hit $1 and would stop being highly volatile.
One of those most influential holders is currently the 3rd richest man in the world Billionaire Elon Musk CEO of Telsa and Space X
What has Elon Musk contributed to the Dogecoin Community
Elon musk apart from causing the markets to crush cause of his words and wiping out almost 20% our of Bitcoin Elon Musk has tried to up Right the underdog Coin by declaring it will be the coin for Mars and has been reportedly active in trying to fix the coding errors that and In the open-source code of Dogecoin making it more sufficient and easy to use.
Dogecoin might be the Cryptocurrency you should buy remember it doesn't guarantee profit but In the wrong run, you might benefit from this hassle.