What Is DogeCoin and How Do You Spend It?
Dogecoin is one of the more controversial entries on CoinMarketCap’s list of top cryptocurrencies. Amazingly, at the time of writing, Dogecoin finds itself firmly cemented in the top ten leaderboards of most popular coins, sitting at number five with a staggering market cap of over $66bn. Even suggesting that Dogecoin would be at a tenth of those levels just a few years ago would have caused many crypto enthusiasts to erupt with laughter, yet here we are. So what exactly is Dogecoin, and what are its use cases? Let’s take a look.
What is Dogecoin?
While it’s widely known in the crypto community, Dogecoin is primarily considered to be more of a meme than a serious cryptocurrency such as Bitcoin or Ethereum. The currency was created back in 2013 by Billy Markus and was named after the popular Doge Shiba Inu meme.
Apparently, the coin was developed in “about two hours” and was built on Bitcoin technology. Shortly after the coin was developed, the crypto community immediately embraced it. It quickly became a viral sensation, leading its market cap to soar by 300% in only two weeks after its launch.
The following years for Dogecoin were turbulent, to say the least, from scandals within their own community to contentions over the currency being inflationary with no finite number of total coins available; not many people regarded it as a serious contender for being an adopted currency on a global scale.
2021 – The Year of the Doge
As it turns out, Dogecoin was here to stay, and 2021 has (so far) been an incredible year for the meme coin. At the time of writing, it has recaptured its viral appeal, and thanks to endorsements from heavily influential people such as Elon Musk, its value has increased by more than 6,000% this year. Pretty incredible stuff.
A large part of the success of the coin can be attributed to its die-hard community that perpetually echo the sarcastic sentiment of its original developers, which leaves people not knowing whether to take it as a joke or to finally take it seriously as a very real currency that is here to compete with the big dogs (pun intended).
Where can you spend your Dogecoin?
The good news is that you can now spend your Dogecoin in a wide variety of places, with many vendors across the world now accepting the currency in exchange for their products and services.
At Bitcryptomarket, we accept Dogecoin for all of the products listed on our site, which include:
• Property, Land and other Real Estate
• High-end watches such as Rolex, Audemars Piguet and Patek Philippe
• Electronics such as Mobile Phones, Laptops, Drones, Tablets and Headphones
• Luxury cars and high performance motorcycles
• High-end fashion and cryptocurrency clothing
• And many, many more
With that said, you can spend your Doge in all kinds of places. In fact, Elon Musk has even suggested that he will accept Dogecoin for payments on brand new Teslas, which is just crazy when you consider how the currency came about in the first place.
Finally, you can find crypto credit cards out there that allow you to preload your cards with currencies, such as Dogecoin, that you can spend out in the real world at physical stores. And as the meme currency becomes ever more popular, you can expect more vendors worldwide to start accepting payments using the coin.