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Jackson Palmer created Dogecoin to satirize the hype surrounding Bitcoin and other cryptocurrencies. Receiving positive feedback on social media, Palmer soon bought the dogecoin.com domain. A software developer, Billy Markus, wanted to create his digital currency. Upon hearing the Dogecoin hype, Markus reached out and got permission from Palmer to build the software behind Dogecoin.

Dubbed by Elon Musk as “the people’s crypto,” it marketed itself as the fun, more adaptable, and consumer-friendly version of Bitcoin. We took a closer look at Dogecoin to see how this meme coin works and if it is a great asset to have. Plus, learn how to get DOGE for free. All that and more below. 

What is Dogecoin?

Dogecoin is a peer-to-peer, open-source cryptocurrency. Considered an altcoin, it runs on blockchain technology. Its popularity rose when Elon Musk started endorsing it on social media. 

There are a few features that set this coin apart from other cryptocurrencies. First, it has an infinite amount of minable coins. It originally had a maximum supply of 100 billion coins, but the founders decided to eliminate this cap. The infinite number of Dogecoins makes this crypto hyperinflationary. Secondly, it can only be mined using Scrypt.

How Dogecoin Works

Dogecoin shares similarities with how Bitcoin works. All DOGE holders carry an identical copy of the blockchain ledger. All new transactions are verified and added to the public ledger. It also uses cryptography proof to keep everything secure. 

The coin uses a “Proof-of-Work” consensus mechanism. Miners use heavy-duty computers to solve complicated mathematical problems, so transactions get processed and added to the blockchain. As a reward for supporting the network, miners earn Dogecoin, which they can opt to sell or hold.

How to Get Dogecoin

If you want to add Dogecoin to your portfolio, here are legit ways you can get them:

Buying on Crypto Exchanges

Buy Dogecoins on any cryptocurrency trading platform that trades it. Binance, Kraken, and many others support this coin. Create an account, deposit funds, and then make a purchase. Note that you may pay trading fees depending on which platform you purchase your crypto. 

Mining Coins

Because Dogecoin uses the Scrypt algorithm instead of the SHA-256 that Bitcoin uses, mining these coins is much faster and consumes less power. There are three main approaches to mining: individual mining, mining pools, and cloud mining. 

Mining Dogecoins used to be much easier due to the fewer numbers of participants in the network. When its popularity increased, mining became much more challenging. Miners eventually started coming together to form mining pools.

Get Rewarded with Free Dogecoins

FreeCryptoRewards offers you a virtually zero risk and legit way of earning Dogecoins. Complete daily tasks such as watching videos, completing offers, and taking online surveys to earn points. Use these points to redeem DOGE, any other available cryptocurrency like CEL tokens and AAVE, or straight-up cash.

Invite as many friends as you can to accrue points. The more, the merrier.

We have a wide selection of crypto rewards, so you can diversify your portfolio at zero cost. Get started today and receive Dogecoins in your Coinbase wallet right away.

Watch out for Crypto Scams

Now, we know what you are thinking. Isn’t there a shortcut to getting Dogecoins? The answer is, “No, there aren’t.” We understand the draw of these suspicious-looking websites all claiming to giveaway free Dogecoins while asking for nothing in return. Ten out of ten times, clicking these links will leave you vulnerable to cyber-attacks and identity theft.

Before you click on these sites and completely waste your time, you might want to consider working with FreeCryptoRewards instead.

We are an accredited rewards site trusted by people all over the world. We keep your information safe and make sure your hard work gets rewarded.

Redeem Your Coins Today!

Put your wallet away because the only capital you’ll be needing is time. Claim your DOGE as early as today. Sign up now for free!