🐕”Who let the Doge out” 🐕🎶
Elbaite is proud to announce that we have officially launched Dogecoin (DOGE) on Elbaite, Australia’s safest cryptocurrency exchange! You can now easily buy DOGE with AUD!
The surge of Dogecoin in January 2021 driven by tweets from Elon Musk, Snoop Dogg and Gene Simmons have resulted in Dogecoin becoming one of the top cryptocurrencies by market value. What’s even more exciting is that merchants including Dallas Mavericks and Bitpay have also begun to accept Dogecoin as payment!
What is Dogecoin?
Dogecoin pronounced ‘dohj-coin’, is a decentralised network that enables peer-to-peer transactions. It is also thought of as ‘the internet currency’. This open-source digital currency was first released on December 6, 2013 by Jackson Palmer and Billy Markus. Dogecoin is named after the popular internet Doge meme trending in 2013 featuring a Shiba Inu dog (which we all love at Elbaite), hence the image of the Shiba Inu on the digital coin.
The main difference between Dogecoin and other cryptocurrencies such as Bitcoin (BTC) is that it is an inflationary currency. This means there is no maximum market cap to the number of Dogecoins that can be mined or ‘digged’ which creates a consistent reduction of inflation-rate over time.
The large supply and low price of Dogecoin made this digital currency ideal for the internet practice of ‘tipping’ great content and users. The Dogecoin community is also widely believed to be friendly and helpful, having raised money for charities on social platforms such as Reddit.
How to Buy Dogecoin?
You can buy Dogecoin on Elbaite in 3 simple steps!
1. Set up a Dogecoin wallet
You will need to set up a Dogecoin wallet through Dogecoin’s official website to purchase Dogecoin.
This is where you will store your purchased cryptocurrency. You can get a free online wallet or a hardware wallet. You can learn more about different wallet types in our previous educational blog “Different types of crypto wallets“.
Elbaite, unlike many other exchanges does not hold your cryptocurrency! Elbaite believes, your cryptocurrency is only yours if it is in your wallet.
2. Find an offer from a trusted seller
Find an offer on a peer to peer exchange at a price and amount you would like to buy.
Elbaite is a peer to peer exchange that connects trusted sellers to trusted buyers through our unique TraderTrust system.
3. Pay for your purchase
Pay the agreed amount using your bank account
On Elbaite you can pay using OSKO / PayID or mobile banking to the Elbaite escrow bank account where it is kept safe until you receive your Dogecoin in your wallet. The seller will never know your banking details, keeping your data private.
🐕 What do you think about this new fun crypto? Share your thoughts with us below in the comments!
🐕 For further information regarding Dogecoin visit their official website
🐕 Elbaite is the cryptocurrency exchange designed for Australian traders seeking safety, security and simplicity. Make an account with us today to start your Dogecoin investment journey!
Disclaimer: The information on this website is purely for information. Elbaite is not a financial adviser, and nothing stated here is to be taken as financial advice. You should seek independent legal, financial, taxation or other advice relevant to your financial situation before making any investment decisions.