Buy Dogecoin (DOGE)

Dogecoin operates on its own dedicated blockchain, just like any other cryptocurrency. Its framework came from Luckycoin, but it can trace its roots all the way from Bitcoin, which is why it shares many of the same characteristics, like using the same hash and consensus mechanism.

Eventually, Dogecoin made some changes to its proof-of-work consensus mechanism. The Dogecoin network currently uses a PoW system called auxiliary proof of work (AuxPoW), where miners can mine blocks on multiple chains and not just Dogecoin. Scrypt favours systems with the largest amounts of Random Access Memory (RAM) for mining to prevent attacks that use custom hardware. This makes it suitable for less powerful computers, and it uses less electricity than its previous SHA-256 algorithm.

You can buy Dogecoin right here on Independent Reserve.

Sign up today and start buying Dogecoin or any other cryptocurrency of your choice. Once you have made a deposit into your crypto wallet on Independent Reserve, you can start buying Dogecoin. You can purchase DOGE starting with as little as $10.

Independent Reserve is a trusted cryptocurrency exchange. We are one of the first and longest-running exchanges in the world, with an impeccable track record spanning almost ten years in business. We are proud to be voted the #1 Digital Currency Exchange 2019-2021.

Established in 2013, Independent Reserve is one of the safest platforms to buy Dogecoin and other cryptocurrencies. We offer a range of features to boost your trading experience, including; a mobile app, a large OTC desk, and enhanced customer support.

Sign up today on Independent Reserve and buy Dogecoin.

You can buy Dogecoin on Independent Reserve in just five minutes. Create your account and deposit money to start buying DOGE with as little as $10.

You can buy Dogecoin with Australian dollars (AUD), New Zealand dollars (NZD), Singapore Dollars (SGD), or United States dollars (USD) on Independent Reserve.

Choose a payment option available in your country. In Australia, you can instantly deposit money into your account and buy DOGE using the following methods: PayID and NPP/Osko. If you’re from Singapore you can make an instant SGD deposit using FAST. For other currencies, such as USD and NZD, you can use SWIFT.

Yes, we have world-class security to protect our customers.

After buying Dogecoin on Independent Reserve, you can transfer your DOGE tokens to your crypto wallet and store them with your other crypto. Or, you can simply leave Dogecoin on the exchange and we will store it safely for you.

At Independent Reserve, we take security seriously; it is at the forefront of everything we do. As a highly reputable and trusted exchange, we have the highest level of protection measures in place to ensure that our customers’ cryptocurrency is kept safe. We offer; two-factor authentication (2FA), ISO 27001 certification, and top-tier underground vaults to protect your crypto. Learn more about the security features of our platform.

DOGE isn’t just bought for the memes

Dogecoin is one of the few currencies with the potential to be used as practical money. While it hasn’t hit the mainstream yet, its popularity and support have already gained the attention of various companies and retailers who have started accepting digital currency as payment. However, your local crypto laws can still affect the legality of paying for mainstream services with cryptocurrency.

Dogecoin is mainly used for online payments and transactions, especially on websites like Reddit and Twitter. Users on these platforms reward or tip each other for their posted content.

Others had successfully funded several fundraisers for sporting events. One of these successful fundraisers was the fundraiser in 2014 when a Jamaican bobsleigh team raised more than $25,000 in Dogecoin to let them attend the Winter Olympics.

Blockchain networks that use proof-of-work (PoW) like Bitcoin have caused concerns about their impact on the environment.

Upon Dogecoin’s release, it used proof-of-work as its consensus algorithm. Since PoW is energy-intensive, it can be harmful to the environment. For instance, Bitcoin, which uses the same protocol, was found to produce an estimated 71 million tons of carbon dioxide emissions annually. These are the same amounts generated by Greece.

When Dogecoin switched to Auxiliary Proof of Work (AuxPoW), miners were able to mine Dogecoin alongside other cryptocurrencies based on the same blockchain without splitting the hash rate. It also changed its hashing algorithm to Scrypt to make mining less energy intensive.

Currently, Dogecoin produces around 1.75 million tons of carbon dioxide emissions, which is comparable to the country of Guyana. While it’s less eco-destructive, Dogecoin developers continue to search for more ways to improve its transaction and energy efficiency. This includes shifting to a proof-of-stake validation model.

Transaction times mainly depend on the blockchain fee and the current load of the blockchain network.

Cryptocurrencies that offer high transaction speeds tend to be more in demand among crypto investors to drive profit in crypto wallets. Dogecoin can facilitate fast block creation and process payments more efficiently. On average, Dogecoin can process 30 transactions per minute. In comparison, Bitcoin can typically take ten minutes to process a block.

Dogecoin was initially created to be a fun alternative to Bitcoin.

The first cryptocurrency had just become a huge phenomenon back in 2013. In true internet fashion, many attempted to recreate its success using the same technology used to build Bitcoin. Billy Markus and Jackson Palmer created Dogecoin as a satirical take on those altcoins and the hype for Bitcoin.

The software engineers created a digital currency based on the viral meme of a Shiba Inu dog, Doge. Its lighthearted nature immediately caught public attention and what started as a joke unexpectedly grew into one of the biggest cryptocurrencies with a massive market cap and adoption rate. It even received support from figures, with Tesla CEO Elon Musk being the most notable one.

Dogecoin’s development team established the Dogecoin Foundation to provide governance and support the growth of the currency to fulfil its goal of becoming a currency for the people.