Why is Doge coin (DOGE) crypto gaining attention amid a dip?

 DOGE Is Back: Why the Dogecoin Crypto Is Gaining Attention Amid a Dip

 

Dogecoin (DOGE) has always been one of the more popular cryptocurrencies on the market, but it hasn’t quite been able to break into the top 10 in terms of market cap in the way that some others have. With DOGE now edging back toward $0.0035 after some time around $0.0025, though, that may be about to change once again...

 

How Does Dogecoin Work

Part of what makes Dogecoin so appealing, as previously noted, is that it’s fairly easy to obtain. Unlike many other cryptocurrencies, there’s no lengthy vetting process to join—all you need is a dogetipbot account and enough DOGE.

 And if you want to earn more of them, there are plenty of ways to go about doing so. Again, that can include tipping others for their online posts or even completing tasks for special incentives. There’s also an official Dogecoin faucet, which gives out small amounts of DOGE every hour.

 Of course, all of these options have one thing in common: They require some sort of action on your part. In order to get more DOGE, you have to give something up first. That said, they can be a great way to start getting involved with crypto in general and learning how everything works (and how much fun it can be). The best part?

 Even if you don't end up making money from your initial investment in Dogecoin (or any other cryptocurrency), at least you'll have fun along the way!

 

What Does It Mean When People Say To The Moon

DOGE has seen an increase in attention amid a dip in overall cryptocurrency market capitalization. As cryptocurrencies continue to fall from their all-time highs, people are looking for safe havens and one of those is Dogecoin.

 People are calling to take crypto to the moon, which means they want to see its value increase dramatically as well as fast. So what does it mean when people say moon?

 Well, you could compare it to going viral, but instead of going viral online, they want to see prices skyrocket while coin supply remains static.

For example, if Bitcoin's price went up ten times in one day that would be considered mooning. And if you're wondering why people would want to see that happen, it's because they believe that price gains like that will help legitimize crypto as a whole.

 While some analysts argue that such massive price increases can't happen without more adoption or use cases for digital currencies, others argue that Bitcoin has shown us how quickly things can change.

 In fact, many believe that Bitcoin's 2017 bull run was actually due to global political uncertainty (Brexit vote) and not because of any major technological advancements or new use cases.

 

How to Buy Dogecoin

Getting your hands on some DOGE might seem intimidating, but rest assured you can still do it. First of all, you can purchase DOGE on exchanges like Bit-Z and LiveCoin.

 Buying Dogecoin with fiat currency is similar to buying BTC or any other cryptocurrency--you have to register an account, authenticate yourself and submit orders via an order book. More complex orders involve multiple steps and require more advanced technical analysis.

 

Where To Store your Digital Currency

As with any investment, how you store your cryptocurrency is incredibly important. After all, it’s hard to be safe when your security is comprised. The most secure way to store your crypto assets is by using a hardware wallet, such as Ledger Nano S or Trezor.

 They are considered to be cold storage, as they don’t connect to online servers and therefore can never be hacked remotely. However, if you want something that’s easier to use, there are always paper wallets (although these aren't as secure). If you have an extensive amount of money invested in crypto assets, I highly recommend investing in a hardware wallet.

It will protect your money from being stolen if someone were to hack into your computer or phone. If you do decide on paper wallets instead of a hardware device for storing your digital currency, make sure that you keep them in an offline environment so that no one else has access to them.

 

What are some key things you should know about buying and selling dogecoin

Much like bitcoin, dogecoin transactions are processed via public and private keys – strings of numbers and letters that give each user access to their digital wallets. Private keys serve as passwords while public keys act as an address that you can share with others so they can send you money.

There are several ways to keep your dogecoins safe and secure, but most revolve around protecting your private key. Imagine if somebody else had a copy of your house key – he could get in your house and take anything he wanted. It’s similar to cryptocurrencies – if somebody has your private key, they have complete control over your coins.

 You should never tell anybody your private key or store it on any device connected to the internet (unless it’s a hardware wallet). Most people store their dogecoins in desktop or mobile wallets where they control their own private keys.

 

What do people use this cryptocurrency for?

The Reddit user u/ItsDoge_lol has summarized several ways people are using DOGE: Tipping on Twitch, where fans can give streamers Dogecoins for entertaining them; Investing in online crypto-only casinos like Coinroll;

 Paying for VPNs or web hosting services through sites like Shibe. ga; Using Dogetipbot, an automated system that lets users tip other Reddit users with DOGE. Additionally, Dogecoin seems to have more active communities than some of its competitors—though it's unclear whether that will last as cryptos become more popular.

 

What makes dodge so special?

One reason why so many crypto investors are drawn to doge is that it's fast and cheap. It only takes 5 seconds for your transaction to go through, and there are no fees. That means you can send money anywhere in the world with no fees.

 That’s huge! The currency is also heavily used in tipping on Reddit, meaning it’s also helping content creators make some cash as well. The company has promised that all profits will be used to sponsor sporting events and charities! (This service has not yet been implemented).

 Oh yeah, one more thing... their mascot is a doge which is pretty awesome. I mean how can you not love a coin named after an adorable Shiba Inu?

 

Conclusion

The key to understanding why DOGE has been gaining attention amid a dip is that it’s one of two cryptocurrencies with truly altruistic goals.

It’s not trying to solve any major problems or change human behavior—it just wants people to spread love and happiness and thus, bring humanity together. This is an obvious marketing ploy, but one that may succeed in making DOGE more than just another crypto.

Plus, its community seems more involved than ever, as evidenced by these latest moves involving SpaceX and Elon Musk.