Ehh! Dogecoin? What is that?
Many people only know one thing about cryptocurrency, and that is Bitcoin. Bitcoin is like the Baba of the crypto market. If Bitcoin were a car brand, it would be the Mercedes Benz, or maybe BMW, or Bugatti. Why? Because Bitcoin is the first cryptocurrency to ever be created, and it’s the most popular cryptocurrency. Yet, we are yet to know more about Dogecoin. But first, Dogecoin sounds weird, or is it just me?
When I first heard of Dogecoin, I was like, “Dog Coin”? And I don’t think I was wrong. I mean, the icon is literally a dog. If you’re still in this confusing phase, you’re not alone, buddy. I will be providing you with a complete guide to Dogecoin wallets and how you can trade DOGE today.
What is Dogecoin?
Dogecoin can also be coined as DOGE for context. It is a cryptocurrency that was born as a joke. What? Yh! That’s right!
By December 2013, the world had started taking cryptocurrency seriously. Not me, though, not even my parents, because why didn’t they buy Bitcoin then? It was just around $1300, but that’s by the way.
So apparently, Billy Markus and Jackson Palmer were like, why is the world taking cryptocurrency too seriously? Yh! They were people we would describe as Karens. Not that type of Karen, though. They felt like crypto should be fun, too, and not just about money. So they developed Dogecoin on the 6th of December 2013.
The theory was: people were excited about it. And when asked what is Dogecoin? They would respond. “It’s a coin with a dog on it”. Fun?
Now, What is a Dogecoin Wallet?
Well, if you’ve been following my resources on cryptocurrency wallets, you will probably now know what a crypto wallet is. Right?
A crypto wallet is just like a virtual representation of a physical wallet where you keep your coins, money, and cards. But this time, cryptocurrency is not physical, so yeah! You get the drill!
To get a Dogecoin wallet in Nigeria, you will need to access a reliable crypto trading platform, and that leads us to our next phase.
How to Open a Dogecoin Wallet in Nigeria
To open a DOGE wallet in Nigeria, you will need to register with a crypto exchange in Nigeria that supports the Dogecoin currency. That being said, which one should you use?
That’s where there’s a bit of a slowdown. There are different types of cryptocurrency wallets. Hot wallets, cold wallets, and sub-types under each category. I have linked an article I wrote previously about that, so I recommend you check that out to understand better.
Regardless, mobile wallets remain the most convenient and accessible type of crypto wallet. Mobile wallets are crypto wallets that are accessible using the web or mobile devices and an internet connection.
To open a Dogecoin wallet in Nigeria, you have to sign up with a reliable crypto trading app like Breet. Trust me, you don’t want to open with another if not Breet. Why? Just Google “Breet”. Gosh! I’ve been waiting to use that phrase, but jokes aside. Breet is the best crypto trading platform in Nigeria. Do your findings and see why.
How To Open Dogecoin Wallet with Breet
Opening a Dogecoin wallet is a pretty simple and uncomplicated process with Breet. You only need a smartphone, such as an Android or iPhone device, to accomplish this. Here’s how you use Breet to open a Dogecoin wallet:
- Download the Breet app from the Apple Store or Google Play Store. A swift online version will soon be accessible.
- Install the app on your phone or tablet.
- Make a Breet account for yourself by registering.
- Generate your Dogecoin wallet address and finish!
You can also use the Breet web version to open a Dogecoin wallet in Nigeria. If you find it challenging to join up, click here for a shorter, step-by-step tutorial.
With your DOGE wallet, you can trade and sell your coins for Naira in a few minutes with Breet. Now that you have a Dogecoin wallet to trade DOGE, what can you do with Dogecoin? Let’s find out!
What You Can Do With Dogecoin
1. Crypto Investment
Yup! You can invest your spare funds in Dogecoin. Do you know why? Because Elon Musk can boost DOGE anytime with just a tweet! Lol! Don’t mind me.
But honestly, Elon has helped boost DOGE’s value with tweets. Nonetheless, Dogecoin is a safe cryptocurrency to invest in. Although the price fluctuates a lot, it is expected. It is a cryptocurrency.
Buy low, sell high – that’s the tactic. As a crypto trader, Dogecoin should also be on your list of coins. You can simply buy Dogecoin when it’s at a low point and sell off when the value increases over time. A smart way of making money with cryptocurrency.
3. Online Purchases
Many companies are already accepting Dogecoin as a payment method around the world. If you own a business in Nigeria, whether big or small, you should join the league of companies like Tesla and accept Dogecoin as a form of payment from your customers. As a customer as well, you can pay for your items with Dogecoin.
4. Tipping and Donations
The Dogecoin community contributed $50,000 in 2014 to assist in funding the Jamaican Bobsled Team’s trip to the Winter Olympics in Sochi. Loyal Shibes raised $30,000 towards the construction of clean water wells in the Tana Valley, Kenya, in honour of World Water Day (March 22, 2014).
When it comes to Humanity, Dogecoin does its thing. And that’s why I support it.
There are many other ways you can use Dogecoin, but these are a few to mention.
Dogecoin was created as a joke from a popular meme coin, Shiba Inu. And it got me thinking, if DOGE was created from SHIB, it is likely they are similar. Between Shiba Inu and Dogecoin, which is a better investment? Reflecting on that should highlight some comparisons.
Yes! It’s true that Dogecoin was created as a joke. Yes! It’s true that DOGE is also one of the many cryptocurrencies that entered the market after Bitcoin. But what we should be asking is, “What is Dogecoin doing differently?”
The ability of blockchain to improve the world makes it the most significant technological advancement of the twenty-first century to date. But…, the only thing everyone seems to not stop speaking about is the price of Bitcoin. There’s more to the crypto industry.
Dogecoin is a cryptocurrency festival; it’s a blockchain gathering to which you are cordially invited. It’s the cook kid in the midst of serious dudes.
So, now you have some ideas about Dogecoin, what is your preferred Dogecoin? You start from there!