The meme-based digital currency Dogecoin started seemingly as a joke between two friends who had never met at the time, IBM software engineer Billy Markus and Adobe software engineer Jackson Palmer.
Together these engineers successfully combined two of 2013’s most remarkable phenomena: Bitcoin and “doge.” to create Dogecoin.
Read on to find out how Palmer and Markus created the meme coin.
The Creation of Dogecoin
Before the coin’s launch, Palmer tweeted, “Investing in Dogecoin, pretty sure it’s the next big thing, ” with no intention of garnering attention. He got multiple replies encouraging him to go for it, to his surprise. A week later, he bought the domain Dogecoin.com.
These friends launched the coin and created a website, “dogecoin.com,” and to their utmost surprise, over a million unique visitors were recorded within the website’s first month.
Meanwhile, far away in Portland, Billy Markus had many failed attempts to create his digital currency. Billy almost threw in the towel when he came across Dogecoin.com within a day or two of the site going live.
In an interview with Business Insider, Markus confessed he initially said,
“This is so funny.” Then he concluded, “I should just make this coin.”
Markus tweeted Palmer requesting to be a part of the venture. Before Palmer tweeted back, he started reconfiguring Bitcoin’s source code—which was publicly available—to swap its user-face elements into the doge meme.
Palmer eventually tweeted back, and the partnership dodge meme was established. Less than two weeks after Palmer’s joke tweet, Dogecoin was launched in December of 2013.
How to Buy Dogecoin Today?
The digital currency Dogecoin hasn’t ceased to wow its global audience as it continues to capture public attention. Tesla CEO Elon Musk and rapper Snoop Dogg developed unforeseen interests in Dogecoin, driving up the price of the meme currency.
It’s easier to own a Dogecoin today than buy a real-life dog from a rescue shelter. Here are five simple steps you can take to own your first Dogecoin:
Decide how much you want to invest in Dogecoin.
It would be best if you were a student of the market to invest in cryptocurrency and it was knowing the extent of its volatility. Thus, investing must be done skillfully.
Pick a cryptocurrency exchange.
To buy Dogecoin, you’ll need an account with a cryptocurrency exchange—This is where buyers and sellers meet to exchange cryptocurrency for hard currency or other cryptocurrencies. A few popular exchanges include Coinbase, Binance.US, and Kraken.
Select a payment option
To buy or trade Dogecoin, you must deposit money in your exchange account. Usually, the exchanges will let you deposit money from a checking or savings account. At the same time, others accept wire transfers and PayPal transfers.
Once your account is funded, you can purchase DogecoinDogecoin. Search for DogecoinDogecoin or its symbol: $DOGE on the exchange’s purchase platform. Then pick your trade type and input either the amount you want to invest or how many Dogecoins you want to buy.
Consider your storage options.
When you buy DogecoinDogecoin, it’s stored in your exchange’s or brokerage’s crypto wallet by default. You can decide to withdraw the crypto you purchase from an exchange or brokerage and store it in a separate wallet.
To Wrap it Up
Since its launch on December 6, 2013,Dogecoin has continued to experience tremendous growth. With the interest of celebrities and crypto enthusiasts alike, there’s no doubting the bright future of the crypto coin.
A peculiar thing about the coin is the currency was derived from the open-source software project, Litecoin. Unlike its predecessor, Bitcoin and the Dogecoin system can produce a limitless coin.