What Is Dogecoin?
Dogecoin (DOGE) is a peer-to-peer, open-source cryptocurrency. It is considered an altcoin and an almost sarcastic meme coin. Launched in Dec. 2013, Dogecoin has the image of a Shiba Inu dog as its logo.
While it was created seemingly as a joke, Dogecoin’s blockchain still has merit. Its underlying technology is derived from Litecoin. Notable features of Dogecoin, which uses a scrypt algorithm, are its low price and unlimited supply.
- Dogecoin is an open-source cryptocurrency started in 2013 by Jackson Palmer and Billy Markus.
- Dogecoin initially started as a joke based on a popular meme featuring a Shiba Inu (a Japanese breed of dog).
- It is based on Litecoin and has the same technology behind its proof-of-work.
- Dogecoin has a loyal community of supporters who trade it and use it as a tipping currency for social media content.
How to buy Dogecoin? (DOGE)
Follow the steps below to start buying DOGE on Kraken:
- Sign up for a Kraken account.
First, enter an email address, create a new username and set a strong password to protect your account.
- Verify your account.
After providing your name, date of birth, country of residence and phone number, you can buy DOGE with cryptocurrencies like LTC and DASH. In order to use fiat currency (i.e. USD or EUR), you’ll need to provide our experts with additional supporting documents verifying your identity. Read about our verification processes here.
- Deposit fiat currency.
You can fund your Kraken account in a number of ways. How you do so will depend upon your location and preferences.
- Purchase DOGE!
Once your account is funded with fiat, you’re ready to purchase DOGE. At this point, you’ll also gain access to our advanced charting tools, 24-hour global client support and the ability to utilize margin trading, features that help make the Kraken experience beloved by millions of global traders.
Where do I keep my DOGE?
Even if you don’t mind losing your DOGE, safely storing cryptocurrency is no laughing matter.
Kraken is secure, but it’s safest to store your DOGE in a wallet, a software or hardware device you control that stores the public and private keys required to make crypto transactions.
Mobile and web wallets can make transactions easy, while hardware wallets are best suited for secure, long-term storage. Testing these out with DOGE can be a great learning opportunity.
When choosing a crypto wallet for your DOGE, first spend some time thinking about what you plan to do with your tokens to find a wallet that fits your needs.
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