Dogecoin is no doubt one of the biggest and most popular crypto coins today. Since DOGE made its debut as a parody of Bitcoin, the project has grown to be a fine asset for crypto investors.
Dogecoin has seen a surge due to the celebrity support from Tesla CEO, Elon Musk. The billionaire on multiple occasions has tweeted about DOGE. This has inspired other coins like Shiba Inu, Floki Inu & Dogelon Mars.
DOGE’s popularity has made it a choice for several companies, merchants, and institutions. Crypto enthusiasts and investors have made it a coin to consider.
In this post, we’ll look at some places where Dogecoin can be used today by its holders. Before then, let’s know more about DOGE.
What is Dogecoin?
Dogecoin is a cryptocurrency created as a ‘joke’, to make fun of the wild speculations of crypto as at the time it was created. Dogecoin trades by the symbol DOGE and was created by engineers, Billy Markus and Jackson Palmer.
Dogecoin is famous for its ‘Shiba Inu’ dog-themed coin. The Japanese breed of dog’s image is on the Dogecoin as well as the Shiba Inu coin.
Dogecoin
Also called the meme coin, Dogecoin promotes the currency as the “fun and friendly Internet currency”. Dogecoin was initially designed to be “as ridiculous as possible,” in keeping with its parody theme and to prevent people from actually using it over the long term.
This has however not been the case as it has been a notable asset in the crypto world. The works of influencers and celebrities like Elon Musk, Snoop Dogg, Gene Simmons, and co has made it a top coin to consider.
Why People Consider Dogecoin for Investment
Here are some reasons why Dogecoin is rivalling top cryptocurrencies like Bitcoin, Ethereum, Cardano, etc today. They are discussed below.
1. Dogecoin is best for beginners- DOGE, is regarded as a great asset for crypto beginners. It’s enormous volatility will help new investors to know what crypto investment is all about.
It helps them to know that it can skyrocket or dive within a matter of minutes. This is required to have a strong mindset which will help to weather the storms in crypto investment in the long run.
2. Dogecoin has a feature that makes it faster today- DOGE has a brilliant feature called the Scrypt algorithm. This facilitates much faster block creation, making it to solve one of the shortcomings of its model, Bitcoin.
3. It is is a more credible store of value than other memecoins- DOGE has a more credible value. Its mechanism is rooted in its intended usage as a highly accessible P2P method of exchange. It also prevent long-term holding diminishing circulation & minimize transaction fees.
The developers behind Shiba Inu coin have taken a much different and less sophisticated way when it comes to the token’s supply mechanism.
4. Dogecoin is becoming more mainstream– Dogecoin is becoming more popular and has been widely accepted as a medium of exchange in our world today. The token has been listed as a legal tender by Myanmar Republic. Several businesses including Elon Musk’s Tesla company are now accepting Dogecoin as a form of payment
Where To Spend Dogecoin In 2022
Bitcoin is the most successful of all crypto assets. The Satoshi Nakamoto created digital currency is accepted by many businesses for payment of good services as well as a legal tender in the nation of El Salvador.
Dogecoin is not far behind as it has been adopted by many businesses just like it’s model, BTC. Myanmar Republic, in 2021 proposed DOGE as a legal tender, a move which would increase it adoption and use.
You can therefore spend your DOGE on what you need to buy like using the physical money. DOGE are accepted by some restaurants, fashion retailers, travel services, service retailers, and several others today.
Top Companies To Spend Dogecoin In 2022
Elon Musk, who has described Dogecoin as the ”future currency on earth” accepts Dogecoin. The Tesla company allows you to buy products such as merch with the dog-themed coin, Dogecoin.
Dallas Mavericks owner Mark Cuban announced that his NBA franchise would be accepted as payment for tickets and merchandise. DOGE and BTC are being used by the sporting company to receive payment from its customers.
Luxury hotel group, the Kessler Collection also accept DOGE for payment at its hotels through a partnership with BitPay. Adult entertainment website PornHub takes Dogecoin for payment, along with Bitcoin, Ethereum, Monero and Zcash, and other cryptocurrencies.
Restaurants that accept Dogecoin include Burger Bear, Strange Donuts, BitBurgers, and so on. Grocers where you can spend your DOGE include Stuffcoins, DogeLet, etc.
Travel services such as Veloleo accepts DOGE while you can also use to buy e-book from the Mike Connell Ministries.
You can buy your fashion accessories with DOGE when you visit fashion retailers like Shibeswag, Life Sunglasses, etc. Service retailers such as Nodex, Graphix Designer, Super Speedbox, and several others also accept Dogecoin for their services.
How To Sell Dogecoin
If you are in Nigeria, one of the best ways to spend your Dogecoin is to sell. You can sell your DOGE on exchange platforms like Prestmit. Here, you can get your DOGE in the Nigerian Naira or Ghanaian cedis.
You can not only sell your DOGE, but also buy on this platform. If you are to sell Dogecoin in Nigeria/Ghana on this platform, you are to first create an account with them. Signing up either on the website or mobile app, automatically qualifies you for an operational dogecoin wallet that is unique to just you.
Other crypto assets available on this platform aside Dogecoin is Bitcoin, Litecoin and USDT. They are all available at good market rates.
Conclusion
Dogecoin is no doubt one of the top crypto assets today. The coin which came to be as a parody has been successful in the crypto space as it is getting more adoption and used by top companies around the world.
The fact that Dogecoin is making waves in the crypto world doesn’t mean it is safe for investment. In fact, it is classified as a shitcoin. So there is a higher probability that you can lose your money on it if care is not taken.
If you must invest in Dogecoin among other cryptocurrencies, you must put what you can afford to lose.
Also Read- 5 Reasons Why You Should Not Invest In Dogecoin In 2022
