Dogecoin – A Short History and How to Trade and Store It

What started off as a mere joke ended up being one of the most famous digital currencies in the crypto scene! Dogecoin surely hosts the most interesting background compared to any other cryptocurrency around.

Brief History

dogecoinThe altcoin was launched in the year 2013 by Billy markus and Jackson Palmer. It all started with a fun tweet where Palmer had posted a criticism on the then mushroom growth of myriad scammy altcoins. He also mentioned about his wish about creating a better alternate crypto currency. His tweet was much encouraged on Twitter and several users urged him to turn his idea into reality. Palmer thus went ahead to purchase the “dogecoin.com” domain & added splash screen featuring the logo of the coin and some text.

On the other hand, Markus was looking forward to create a unique cryptocurrency that will be fun & will be able to reach out to a wider demographic- compared to Bitcoin. He found out dogecoin.com in some IRC chatting rooms and contacted Palmer. Both decided to form a collaboration and thus Dogecoin was formed. The coin had its official release on 6th December, 2013. Dogecoin is developed on Litecoin fork LuckyCoin protocol. The coin is named after the hugely popular “doge” memes of 2013. Shiba Inu is the mascot of Dogecoin.

Trading and storage of Dogecoin

Are you looking to trade Dogecoin to USD? Well, here is a brief guide to help you through the whole process-

Step 1

First, you will need to purchase Doge coins from a crypto exchange. The exchange you choose should be a highly trusted name around, backed by a huge user base. Beware of fly-by-night exchanges. Your chosen one should be extremely strict about security. The best ones always ask for ID proof to prevent scammers from entering their portal. Then, the exchange should list Doge coin in multiple cryptocurrencies. Make sure, your preferred cryptocurrency is on that list.

Step 2

Then, you will have to deposit funds to buy the Dogecoins. You will find a link saying “Deposit” on the crypto exchange website. Click on it, then specify the sum you will deposit , generate wallet & transfer the sum.

Step 3

Go to “Buy/Sell” link located on your account on the crypto exchange. Look for “DOGE” and click on the link that says “Buy DOGE”. Enter the mount you wish to buy & make your purchase.
Sell or trade Doge

Go to the “Buy/Sell” link located on your account on the crypto exchange. Look for “DOGE” and click on the link that says “Sell DOGE”.

Storage

You will store some DOGE in the crypto exchange for trading. But the rest of the sum should be stored in a 3rd party wallet online or some offline hardware wallet.