Dogecoin (DOGE) Profit Calculator
Calculate the profits of your Dogecoin investments easily with this free investment calculator.
Dogecoin investment calculator
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How to calculate value of Dogecoin investment?
You can find out how much money you could have made with our free Dogecoin investment calculator! Use this Dogecoin money calculator to find out the current value of DOGE.
What is Dogecoin exactly?
Dogecoin is a peer-2-peer, Open-Source cryptocurrency. It is an altcoin that can be considered a meme coin. Dogecoin's logo features an image of a Shiba Inu dog.
It was made as a joke but Dogecoin's Blockchainstill has merit. Its technology is derived from Litecoin. Dogecoin uses a scrypt algorithm. Its most notable features are its low cost and unlimited supply.
Dogecoin began as a joke. But it quickly gained popularity. It was involved in the crypto bubble, which saw many coins' values rise significantly by the end of 2017. Dogecoin suffered a significant decline in value after the bubble burst in 2018. However, it still has a core group of supporters who trade it for tips on Twitter and Reddit.
Dogecoin users can trade and buy it on digital currency platforms. You can choose to store your Dogecoin on an exchange, or in a Dogecoin account.
What is the history of Dogecoin?
Jackson Palmer is a product manager at Adobe Inc.'s Sydney, Australia office. He created Dogecoin in 2013 to mock the hype surrounding cryptocurrency. Palmer has been described by himself as a "skeptical-analytic" observer and his first tweets about his new cryptocurrency venture were tongue in cheek. He bought the domain name dogecoin.com after receiving positive feedback from social media.
While in Portland, Oregon, Billy Markus (a software developer at IBM) was trying to create a cryptocurrency but couldn't get his efforts noticed. Markus reached out and got permission from Palmer to develop the software for a Dogecoin.
Markus based Dogecoin’s source code on Luckycoin. Luckycoin was itself derived from Litecoin. At first, Markus used a randomized reward to block mine, but that was modified to a static one in March 2014. Dogecoin utilizes Litecoin's scrypt encryption technology and is a Proof-of-Work coin.
On December 6, 2013, Markus and Palmer launched the coin. On December 6, 2013, Markus and Palmer created Dogecoin. This may have been due to China banning its banks from investing in cryptocurrency.
Dogecoin is on the rise
Dogecoin advertised itself as a "fun version" of Crypto using a Shibu Inu, a Japanese dog, as its logo. Dogecoin's casual presentation fit the spirit of the rapidly growing crypto community. Because of its scrypt technology, unlimited supply, it was an argument for a quicker, more adaptable, and more consumer-friendly Bitcoin.
Dogecoin is an "inflationary currency", while cryptocurrencies such as Bitcoin are low inflation. This is because there's a limit to the number of coins that can be created. Every four years, the amount Bitcoin released into circulation through mining rewards is decreased and its inflation rate is reduced by halved until all coins are released.
Dogecoin donated approximately $30,000 worth of Dogecoins to support the Jamaican Bobsled team's trip in January 2014. In March 2013, the Dogecoin Community donated $11,000 worth of Dogecoin for the construction of a well in Kenya and $55,000 worth of Dogecoin for sponsorship of NASCAR driver Josh Wise.
Dogecoin has some fun with controversy
Dogecoin's fun and games began to lose some of their charms as the crypto community became more serious. Jackson Palmer, who claimed that Dogecoin had become a toxic community based around its coin and the money it produced, was the first sign that all was not well.
Alex Green, a.k.a. Ryan Kennedy, a British national who established a Dogecoin currency called Moolah. Alex Green (his pseudonym), was well-known in the community for being a generous tipper, who reportedly gave $15,000 rather than $1,500 to the NASCAR fundraiser.
Green's exchange encouraged members of the community to donate large sums of money to help fund the creation of his Exchange. However, it later emerged that he had used the donations in order to purchase more than $1.5million of Bitcoin which in turn allowed him to enjoy a luxurious lifestyle. Kennedy was also convicted on multiple counts for rape in 2016 and sentenced to 11 years imprisonment.
Dogecoin before and after the cryptocurrency boom of 2017-2019
Dogecoin's worth soared along with the rest of the cryptoverse members during the bubble at the end of 2017 and fell with the rest cryptoverse over 2018.
Dogecoin experienced a significant increase in its value during the summer of 2019. Dogecoin supporters were thrilled when the crypto exchange Binance listed their coin. Many believed that Tesla, Inc. ( TSLA), CEO Elon Musk, had publicly supported the coin via a cryptic tweet.
How do I purchase Dogecoin?
If you have an account with any of the cryptocurrency exchanges, Dogecoin can be purchased. Coinbase and Binance are some of the cryptocurrency exchanges that accept Dogecoin transactions. Kraken is another example. Robinhood, an established brokerage that allows crypto trades, supports Dogecoin as well.
Where can I buy Dogecoins?
Dogecoin can also be used to purchase goods from any merchant who accepts it. DOGE can be accepted by many businesses, including the Dallas Mavericks and Elon Musk's SpaceX. Dogecoin owners often use DOGE to tip content creators through Reddit and other social networking platforms.
Is Dogecoin a safe cryptocurrency?
Dogecoin is a cryptocurrency that uses blockchain technology just like Bitcoin. Hacking blockchain tech is difficult but not impossible. Dogecoin is considered one of the most secure cryptocurrencies due to its large market capitalization and high adoption rate.
Disclaimer! None of the authors, contributors, administrators, vandals, or anyone else connected with PureCalculators, in any way whatsoever, can be responsible for your use of the information contained in or linked from this article.
Parmis is a content creator who has a passion for writing and creating new things. She is also highly interested in tech and enjoys learning new things.
Dogecoin (DOGE) Profit Calculator English
Published: Fri Feb 18 2022
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