DOGE/AED - Dogecoin UAE Dirham

You can buy Dogecoin through several mediums. You can buy Dogecoin from a regulated cryptocurrency exchange like Coinbase or Gemini. To do this, you need to register an account with the exchange and go through the registration process. You can also buy Dogecoin via peer-to-peer platforms like LocalBitcoins or using a cryptocurrency ATM.

Dogecoin was created as a comic version of Bitcoin. The cryptocurrency’s name and logo came from the meme of the Shiba Inu dog. Dogecoin, or DOGE, as it is known, was built using the Scrypt programming language and is ideal for small transactions. The asset’s brand has grown tremendously following celebrity endorsements from Tesla boss Elon Musk and billionaire investor Mark Cuban. Discover more about what crypto is and how it works in our Academy.

Mining Dogecoin is similar to bitcoin mining. It requires validator nodes to compete to solve complex mathematical equations to earn block rewards. However, Dogecoin requires less energy to do so. You can mine Dogecoin on your laptop or join a mining pool which increases the chances of getting block rewards.

Dogecoin operates on the same Proof-of-Work (PoW) consensus algorithm as Bitcoin and enables the decentralised transfer of value on a Peer-to-Peer (P2P) basis. However, Dogecoin is demonstrably faster than the older blockchain protocol and ideal for small transactions. Dogecoin mining is less complex, can be carried out on less powerful computers and is less competitive than mining Bitcoin. This is because Dogecoin does not experience a halving event which usually increases the difficulty level of mining a blockchain protocol.

Dogecoin was officially launched in December 2013 through the efforts of its founders. It is a hard fork of the Litecoin blockchain, which borrows its tech from the Bitcoin network. Popularly called the silver to Bitcoin’s gold, Litecoin is described as a “lite version of Bitcoin.” The Dogecoin blockchain thrives mainly through its vibrant community, making several charitable donations and featuring on the NASCAR race series.

Dogecoin was created by software engineers Billy Markus and Jackson Palmer as a comic take on the sudden proliferation of digital assets, following the global acknowledgement of Bitcoin. According to the founders, Dogecoin was conceived as a fun, light-hearted cryptocurrency that would enable greater appeal than the Bitcoin audience, given its link to the popular dog meme.

You can sell Dogecoin on most cryptocurrency exchanges like Binance or eToro. To sell your Dogecoin, you’ll need to register on your preferred exchange, transfer the Dogecoin to the platform and place a sell order to liquidate your holdings. Likewise, some cryptocurrency ATMs allow you to sell your Dogecoin in exchange for your local currency.