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Buy Dogecoin in the UK
Dogecoin
DOGE
What is Dogecoin?
What is Dogecoin? How to buy Doge? These are the "much wow" questions we are here to answer! Dogecoin is a cryptocurrency (or digital currency) that was created in 2013 as a joke, and it was based on a dog meme that was famous at the time. However, strangely, it now is the cryptocurrency with the 11th-highest market capitalisation (at the time of writing, April of 2024).
What is Doge?
Doge is a memecoin. The branding of the cryptocurrency is based around a viral internet meme of a Shiba Inu dog, nicknamed “Doge”, who speaks in broken English and expresses various emotions. Doge runs on the Ethereum blockchain.
Dogecoin has a loyal and enthusiastic community of fans, who use it for tipping, donating, and trading online.
What is a memecoin?
Dogecoin is known as a memecoin. A memecoin is a term used to describe a cryptocurrency that is based on or inspired by an internet meme, a humorous or catchy image, video, or phrase that spreads online.
Memecoins are usually created as jokes or parodies, but some of them have gained serious value and recognition over time.
Memecoins are often supported by passionate and loyal communities, who use them for fun, entertainment, and social interaction. Some examples of memecoins are Dogecoin, Shiba Inu, and Pepe Coin.
It could also be considered an altcoin, which is any coin other than Bitcoin.
The history of Dogecoin
Dogecoin was launched on December 6, 2013, by two software engineers, Billy Markus and Jackson Palmer. They wanted to create a parody of Bitcoin and other cryptocurrencies, that would appeal to a wider audience and make fun of the hype and speculation in the crypto space.
Markus and Palmer chose the doge meme as the inspiration for their coin. Dogecoin quickly gained popularity and attention, thanks to its funny and friendly nature, and its active and supportive community.
Dogecoin also became a popular way of tipping and rewarding content creators and users on social media platforms, such as Reddit, Twitter, and Twitch.
Where did the Doge come from?
The doge meme originated from a 2010 photo of a Shiba Inu dog named Kabosu, who was adopted by a Japanese kindergarten teacher named Atsuko Sato. Sato posted several photos of Kabosu on her blog, and one of them showed the dog looking sideways at the camera with a curious expression.
This photo became viral on the internet, and people started adding captions to it in Comic Sans font, using broken English and modifiers like “so”, “such”, “many”, “much”, and “very”. The captions were meant to represent the dog’s inner thoughts and feelings, and often included words related to dogs, such as “wow”, “bark”, and “bone”.
The doge meme became one of the most popular and recognisable memes of the 2010s, and spawned many variations and spin-offs.
Why is Dogecoin popular?
Dogecoin is popular for many reasons.
-It has a humorous and light-hearted origin and nature, which make it stand out from other cryptocurrencies, and it appeals to a wider and more diverse audience.
-It has a loyal and enthusiastic community, which is active and supportive on various online platforms, and engages in various social and charitable activities using Dogecoin.
It has a competitive price and figuratively high supply, which make it accessible and affordable.
-It is high speed and has competitive fees, which make it convenient and efficient for transferring value over the internet, and suitable for microtransactions and tipping.
Is Dogecoin a good investment?
Yes and no.
Here are the pros and cons.
Pros
-Dogecoin has a loyal and enthusiastic fan base that enjoys the humour and positivity of the coin. They often promote and support Dogecoin on social media, creating viral trends and increasing its exposure.
-Dogecoin has some influential fans, such as Tesla CEO Elon Musk, who has repeatedly tweeted about the coin and boosted its price. Musk has also expressed interest in improving Dogecoin’s technology and making it more environmentally friendly.
-Dogecoin transactions are efficient and competitive, making it suitable for microtransactions and everyday purchases.
-Dogecoin has a large and growing supply, which makes it more accessible and affordable than other cryptocurrencies. There is no hard cap on the number of Dogecoins that can be created, unlike Bitcoin, which has a limit of 21 million coins.
Cons
-Dogecoin was originally created as a joke and has no serious use case or innovation. It does not add value to any financial system, such as Ethereum. Dogecoin’s biggest asset, aside from its entertainment value, is its community.
-Dogecoin is highly volatile and dependent on market sentiment and hype. Its price can change dramatically due to various factors, such as celebrity endorsements, media attention, or meme trends.
-Dogecoin faces strong competition from other cryptocurrencies. Dogecoin is not as widely accepted as cryptocurrencies like Bitcoin.
Crypto is not for everyone. Be sure to do your own research and buy according to what is right for you, and not what is right for other people. Crypto is generally very volatile, with the risk of abrupt market changes, corporate collapse, inadequate client fund segregation, and cyberattacks. Don’t invest anything you aren’t prepared to lose.
What are the uses of Dogecoin?
Dogecoin can be used for various purposes.
-Tipping and rewarding content creators and users on social media platforms, such as Reddit, Twitter, and Twitch, for providing interesting or valuable content.
-Donating and fundraising for various causes and projects, such as supporting athletes, artists, charities, and communities around the world.
-Buying and selling goods and services online, including real estate.
-Trading and investing in the cryptocurrency market, as Dogecoin is widely available and accepted on many exchanges and platforms. It has shown high volatility as the value can drop as quickly as it can rise.Y
ou should be prepared to lose all the money you invest in cryptoassets.
Dogecoin and opular culture
Dogecoin has over 3.9 million followers on X, at the time of writing.
Dogecoin is often referenced in various media outlets, platforms, and events.
-Saturday Night Live: Dogecoin was the subject of a skit on the popular comedy show, where Elon Musk played a character called “The Dogefather”, who tried to explain what Dogecoin is, and ended up saying that it is “a hustle”.
This actually caused the price of Doge to go down afterwards.
Time Magazine: Dogecoin was mentioned and praised by Elon Musk in his interview with Time Magazine, where he was named the Person of the Year for 2023.
-TikTok: Dogecoin was the subject of a viral challenge on the popular video-sharing app, where users encouraged each other to buy Dogecoin and push its price to $1.
Other pop culture appearances
-NBA: Dogecoin was adopted as a form of payment for tickets and merchandise across several teams, following the example of the Dallas Mavericks, who were the first to do so in 2021.
Music: Dogecoin was featured and referenced in several songs and albums by various artists, who expressed their support or interest in the cryptocurrency. Some of the examples are:
“D is for Dogecoin”, a song by Remy, a comedian and rapper, who made a parody of the Sesame Street theme song, and explained what Dogecoin is and how to use it.
“Dogecoin Anthem”, a song by Lil Mook, a rapper and producer, who made a tribute to Dogecoin.
How to buy Dogecoin?
To buy Dogecoin on CoinJar, you need to follow these steps.
Download the CoinJar App
First, download the CoinJar app on your iOS or Android device. You can find it on app stores.
Create an Account
Sign up for a CoinJar account within the app. Verify your identity. UK residents are required to complete an assessment to show they understand the risks associated with what crypto/investment they are about to buy, in accordance with local legislation. Additionally, they must wait for a 24-hour “cooling off” period, before their account is active, due to local regulations.
Payment method
After your ID has been accepted, you can then create an account on the exchange. After this is done, you can move normal everyday money like Pounds (fiat) via your chosen payment method into your crypto account.
Make a Purchase
Once your account is set up and verified, you’re ready to buy Dogecoin. Use your card, or a bank transfer to deposit sterling to your account in order to make the purchase.
CoinJar supports various payment methods, so choose the one that suits you investment risk appetite. Remember, don’t put all your eggs in one basket. Putting all your money into a single type of investment is risky. A good rule of thumb is not to invest more than 10% of your money in cryptocurrency.
Congratulations! You’re now part of CoinJar, which has been in operation since 2013. Explore the app, research before you invest, manage your portfolio, and keep an eye on your Dogecoin investment.
Conclusion
Dogecoin is a cryptocurrency that started as a joke, but has become a phenomenon that has captured the attention of people around the world. It is based on a meme of a dog, and has a fun and friendly culture.
Cash, credit or crypto?
Buy Dogecoin using Visa or Mastercard. Get cash in your account with Faster Payments Service (FPS). Convert crypto-to-crypto with a single click.How to buy Dogecoin with CoinJar
Start your cryptocurrency portfolio with CoinJar by following these steps.
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FOR PROFESSIONAL CRYPTO TRADERSFrequently asked questions
When was Dogecoin created?
The memecoin appeared in 2013. It was among the first cryptocurrencies, that rose quickly, like Litecoin.
However Litecoin has somewhat fallen out of popularity (barely hanging on inside the top 20 cryptos by market cap) while Dogecoin hovers in and out of the top ten top cryptocurrencies by market cap.
What is Dogecoin worth?
The price of all cryptos can be volatile, but you can check the price of Dogecoin at the top of this page 24/7. At the time of writing, Dogecoin was worth £0.14 (April 5, 2024).
Crypto is generally very volatile, with the risk of abrupt market changes, corporate collapse, inadequate client fund segregation, and cyberattacks. Don't invest anything you aren’t prepared to lose. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
What is the future of Dogecoin?
As cryptocurrencies get more widely adopted, Dogecoin is likely to find its place as the fun crypto, used for internet interactions and fundraisers.
As for its price, it’s hard to predict as crypto prices are volatile, and no one knows what will happen for sure.
Some predictions from experts and other commentators predict that Dogecoin will hit US$4 by 2030, while others say it won’t go past US$1.
If you want to buy Doge, don’t invest more than you can afford to lose. Remember, don’t put all your eggs in one basket. Putting all your money into a single type of investment is risky. A good rule of thumb is not to invest more than 10% of your money in cryptocurrency.
What is Dogecoin being used for?
Tipping and donations: Dogecoin was originally used as a way to tip people on social media for their content or to support charities and humanitarian causes.
For example, the Dogecoin community raised funds to send the Jamaican bobsled team to the 2014 Olympics and to build wells in Kenya.
Peer-to-peer payments: Dogecoin can also be used as a form of digital cash to pay for goods and services online.
Can Dogecoin reach USD $1?
This is a realistic possibility.
At the time of writing, the Doge price was sitting at USD $0.18 (April 4, 2024). This isn’t far from the one-dollar benchmark, however no one knows for sure what will happen in the future.
The performance of most cryptocurrency can be highly volatile, with their value dropping as quickly as it can rise. You should be prepared to lose all the money you invest in cryptoassets.
What is Soge?
It is a misspelling of Doge. If someone offers you Soge, throw your phone into the closet and run for your life.
What are the specific risks associated with meme coins?
‘Meme coins’ (e.g. DOGE, SHIB, PEPE) are crypto-assets whose value is driven primarily by community interest and online trends.
Meme coins carry the following risks:
Volatility risk: Meme coins can have extreme price volatility, often experiencing rapid and unpredictable price fluctuations within short periods. The value of meme coins can be influenced by social media trends, celebrity endorsements, and other factors unrelated to traditional investment fundamentals.
Lack of utility: Meme coins often lack intrinsic value or utility, being primarily driven by community interest, online trends, and speculative trading.
Market manipulation: Meme coins may be susceptible to increased risk of market manipulation including ‘pump-and-dump’ schemes, where the price is artificially inflated followed by a sudden crash.
Lack of transparency: Meme coins may have limited available information about their development teams, goals, and financials. This lack of transparency can make it challenging to assess the credibility and potential of a meme coin accurately. Emotional investing: Meme coins often garner strong emotional reactions from investors, leading to impulsive decisions. Emotional trading activity can amplify losses.
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