Dogecoin is a popular digital currency that has been increasing in value and popularity over the past year. Here we will discuss what it is and how it works, so keep on reading this crypto tax calculator article to learn more!
Dogecoin is a cryptocurrency that was created in 2013 based on a joke rather than a pressing purpose. The currency was inspired by the popular “Doge” meme, which typically features a Shiba Inu dog breed character with text overlayed that is riddled with poor grammar.
DOGE was inspired by the amusing and quirky culture of the bitcoin community, which began to develop in 2009 with the debut of Bitcoin (BTC). Thousands of other crypto assets appeared shortly after Bitcoin, touting additional advantages such as enhanced privacy.
It’s also important to address where Dogecoin holders can store their coins. Some people choose to hold DOGE on the crypto exchange where they bought the asset, even though this could mean having less control over their funds.
You have more responsibility when you store your own Dogecoin in a wallet, but it gives you greater versatility. Some options for wallets are hardware or local wallets. Your choice of wallet must be able to hold Dogecoin though. If you want to store DOGE outside of an exchange, you need to send the coin from the exchange to your desired wallet.
Dogecoin is a cryptocurrency that was created as a joke but has since blown up into one of the most popular coins on the market. While it started as a meme coin, Dogecoin has now become a favorite among investors. Thanks for reading and we hope you have learnt more about this popular crypto currency!
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