KuCoin is among the world’s top crypto exchanges and holds many Altcoins. This vast number of coins listed on their platform declares them the biggest crypto trading platform. Many traders do trading via the KuCoin site and make a good amount of money in a crypto market. This huge number of pairs on a KuCoin provides more options for users. KuCoin also lists several other coins backed by its competitors in the best interest of KuCoin users. Therefore, this article explains an informational guide about Dogecoin by KuCoin.
It is a digital currency base on a decentralized blockchain. Dogecoin offers buyers to do fast and cheap transactions in a peer-to-peer format. DOGE is a currency backed by the Dogecoin blockchain. The popularity of DOGE is quite similar to SHIBA. They both got famous via different memes and jokes.
History Behind DOGE Coin
Billy Marker and Jackson Palmer bought this cryptocurrency from the Litecoin network. They just started as a joke and never expected such growth in the future. The humor behind this currency became a marketing campaign, and within a short time, DOGE got the attention of a huge crowd.
DOGE Coin Success
The success of the DOGE currency is because of many influencers who backed it on a large scale. Many other public celebrities are involved in the humor related to DOGE, making it more popular. On the other hand, Dogecoin provides a more efficient transaction with less cost than BTC. This attribute grabbed Elon Musk’s attention, and his tweets gave an overnight success to DOGE. Since we all know that the crypto market is fully based on human behavior, such activities greatly help Dogecoin grow.
Working Principle Of Dogecoin
Dogecoin blockchain used a consensus mechanism and script technology for mining purposes. This technology makes more efficient and cheaper mining as compared to Bitcoin. The consensus requires the miners to solve complex maths problems to add a new block to the Dogecoin network. Millions of Dogecoins are mining daily, which makes it more affordable for all buyers. This high flow of DOGE coins in a market continuously attracts new investors.
Use Of Dogecoin
Due to the high popularity of DOGE, many people love to hold it on a long term and then transfer it to another cryptocurrency. Different online and offline businesses accept it as a payment method in their store. You can also trade it via P2P trading because of its high demand.
KuCoin lists new upcoming coins on their platform to provide their customer with huge benefits. You can buy any crypto coin and trade it on KuCoin. Similarly, you also have an option to exchange this coin with USDT price because of its stability. The many advanced features like holding coins in a long-term spot wallet and trading a big number of pairs will be highly helpful in each manner. You can easily transfer any crypto coin to your KuCoin wallet. The procedure is quite simple and comprises easy steps.