Dogecoin is a cryptocurrency that was born out of the Shiba Inu doge meme that took the world by storm in 2013. The coin was introduced as a joke initially in December 2013 and included an image of the Doge meme as its logo. The currency nevertheless took off, developing a significant community via platforms such as Reddit.
By 2015, over 100 billion Doge has been mined. Although the currency is regarded as a joke by more serious investors, it still retains its uses, primarily as a means of tipping and for performing similar micro-transactions. In keeping with Doge’s humorous origins, a Doge gold coin has been earmarked for delivery to the moon by 2019 thanks to a crowdfunding effort. The currency was created by Billy Markus who hoped that Dogecoin would attract a demographic who weren’t aware of or interested in Bitcoin.
Dogecoin is used to send transactions between users without any geographical or time restrictions. In other words, you can use it to send value to someone else anywhere in the world, at any time. Since Dogecoin transactions are relatively cheap and fast, DOGE is a popular coin for smaller transactions – for example, users on online forums like Reddit can use Dogecoin to tip other users who provide helpful content or comments.
In short, Dogecoin can be used just like any other cryptocurrency – sending value to another person, moving funds between different exchanges, speculative trading, or just HODLing.