DogeCoin (DOG) is another Litcoin-derived open source peer-to-peer cryptocurrency that uses the ‘Shiba Inu’ dog character from the ‘Dodge’ Internet meme as its mascot. Created by programmer and former IBM engineer Billy Markus and his friend Jackson Palmer, the idea of DogeCoin (DOG) was turned into reality in the hopes of ‘reaching a broader demographic’ than Bitcoins and generate something that wouldn’t be involved with any controversial history unlike the latter.
To begin, you must first acquire a DogeCoin Wallet. You can download the free wallet at DodgeCoin website. After successfully installing the wallet client in your computer, you can definitely start getting some DogeCoin to make the most out of it. There are three main ways available to make this possible:
The easiest and most convenient way to get this digital currency is through DogeCoin Exchange. There are three exchange markets that offer DOG trading: Cryptsy, Coined Up, and Coins-e. These trading platforms allow you to trade this digital coin in DogeCoin Bitcoin or DogeCoin Litecoin. DogeCoin Price / Value is lower compared to other virtual currency; however, this hasn’t been a deterrent for exchange since clients are trading items in exchange for DogeCoin on some major online communities like Reddit.
DogeCoin (DOG) uses scrypt technology in its proof-of-work algorithm, which makes DogeCoin (DOG) Mining interesting. This means that miners cannot take advantage of specialized mining equipment to mine coins at higher speeds. However, there’s nothing to worry about since DogeCoin can be mined using a run-of-the-mill PC, which contrast bitcoin mining that requires industrial strength computing power. Furthermore, miners can be optimistic as for every block mined, 500,000 coins will be given as a reward in the block time of only 60 seconds. DogeCoin network will produce 1 billion coins making this digital currency more attractive.
More than that, DogeCoin Calculator will give you a hand in making your mining experience more convenient and easier. This will aid you compute your potential profit based on statistical calculation. Just take note that your estimated expected earnings will be affected by several factors like DogeCoin Difficulty which adjusts every 240 blocks, the current exchange rate, and DogeCoin Mining pool. The latter allows you to join groups of DogeCoin miners to earn more DogeCoins.
Lastly, if you want to get some free DogeCoin (DOG) but you don’t want to experience the challenges of mining, DogeCoin Faucet is the certain solution. There are numerous faucets online that gives free DogeCoin. These faucets give certain amount of free Dogecoin at a specific period of time. Though the amount provided is relatively small, it is a good feature to have your free supply of DogeCoins.