Crypto tokens or digital currency allow users to undertake transactions over the internet. The token aims to enable easy peer-to-peer transactions globally. The transactions are secure, transparent, and stored on the internet.
Every crypto transaction makes use of blockchain philosophy and decentralized finance model. The blockchain philosophy allows users to undertake transactions on the network. Each user transaction is broken down into individual units and stored as a network chain.
There are also users on the network who has admin access to the network. These admin users can control the flow of information on the blockchain network. For more information, you can visit bitcoin-revolutionapp.com.
Dogecoin’s entry into the global crypto market
Dogecoin entered the global market in 2013. The network initially gained attention from selected Reddit users. On the very first day of its launch, the token was able to gain more than a million visitors on its network.
The token became famous as a meme token and features the image of Shiba Inu. Towards the end of 2013, the token witnessed a huge breakout. The price of tokens jumped up to 300%.
Dogecoin makes use of the same working model as Bitcoin. The developers have an interesting anecdote for this comparison. The token was developed in less than 3 hours. But how? The developers simply replaced Bitcoin code with Dogecoin. Yes, and the data mining was just replaced using digging.
In December 2103, the token once again stole the limelight for a major hacking on its network. More than millions of tokens were wiped out by simply changing the algorithm in the system.
Dogecoin took this hacking incident as an opportunity to grow its investments. The developers immediately started a donation campaign. The developers were able to replace and cover all losses through this campaign.
Growth of Dogecoin in the global market
The token got its official listing in the Moolah exchange. This allowed increasing the credibility and trust towards this token. In 2017, the token witnessed an increase in its prices reaching an all-time high at $0.17 per token. The subsequent year also saw an increase in market prices. The token was able to generate more than an 800% increase in prices and return on investment.
Another reason for this success is the acceptance of the global payment system. Tesla made an official announcement on their acceptance of Dogecoins. You could buy selected Tesla merchandise using Dogecoin. The payment gateways were revamped to accept this payment model.
Dogecoin buying options
Being a most sought-after crypto token, Dogecoin is now available and listed in these exchanges.
Uphold: Residents from the UK and the US can use this exchange to buy Doge tokens.
Binance: A popular crypto exchange. The exchange is now operating in all major countries including Singapore.
WazirX: The best exchange for Indians. It is part of the Binance group and provides a similar set of services and offers.
Ubereats accepts Dogecoin payments
Yes, another news that shook the industry recently. One of the most popular online food delivery chains accepts crypto payments. Ubereats is a popular food ordering application and announced its acceptance on Doge tokens.
Users can use the Bit pay card to complete crypto payments during checkout. Other than direct payment, Ubereats accepts crypto tokens in two ways. Users can buy gift cards or use the token as currency during checkout.
Other than Ubereats, there are two other online food delivery apps accepting crypto payments. This is a great milestone in the industry. It will allow crypto tokens to make their move easier in the payment market. It will allow for areas of expansion to other business avenues as well.
Market performance of crypto tokens
Crypto market performance has been declining in the past few days. There have been substantial losses in the investment market. Many investors are even withdrawing their funds for fear of additional losses. Dogecoin is no different. The prices of this token have been fluctuating for more than two months now.
But many investment experts still believe that crypto markets may recover in the coming months. The current situation is a health check activity to control inflation. Investors may take this as an opportunity to invest in cryptos.