A newcomer to the world of cryptosystems, Dogeco is a new online currency based on the distributed ledger that makes up the Internet. Unlike other networks, the distributed ledger allows for both quick and easy transactions of funds across the network. This was largely the brainchild of cryptographer Phil Hutchinson and developers Christian Decker and Ross Williams. The reason for this system’s name is a doge, which is the traditional unit of currency in the country of Shoshone, Idaho. The two cryptographers based their system around a fictional dog called a doge, which is referred to throughout the dogeco community as the “dog” and it is an icon used to represent members of the community.
Now you might be wondering what is dogeco?
Dogeco is a decentralized peer-to-peer (P2P) financial service similar to the way physical money is handled in the real world. Basically, instead of dealing with your local bank, you make transactions with other dogecoins or dogecoppers. These dogecoppers hold a finite amount of doge Coins and they are traded back and forth between their owners, called “hodlers”. The main difference between this type of money and physical money is that you don’t deal with a central bank or government but instead are given a limited amount of coins based on the amount of work you’re willing to do.
What does this mean to dogeco investors?
It means that anyone can start investing and doge exchanges have no minimum or maximum limit. Anyone can trade, spend, and lend doge as long as they have dogeco coins. While it has been hard to gauge the success of dogeco due to the lack of reporting by traditional media and due to the fact that some people have used forged dogeco currency, the market is increasing on a daily basis and the value of doge is bound to grow. Now that you know what dogeco is let’s see what makes it valuable and how can we use it to our advantage.
In one word, value! Dogeco has come onto the scene in a big way and has started to attract serious investors who are looking for long term investments. People are trading multiple hundreds of dollars per day for small amounts of doge per transaction. If you have ever heard about how WoW insurance works you will understand the concept. This is a form of investment that is growing with every day that passes. So if you’ve been holding back on investing, now may be the time to get out.
Let’s talk about some of the more popular methods of investing in dogeco… As I said before, dogeco has no limit to the amount of money that you can invest, but you do need to have some capital to start. So, how do you go about getting a small investment into your portfolio without blowing your budget? You do this by purchasing smaller amounts of dogecoin… like a few dozen doge coins at a time. Over time, this will create an interest in the market and your investments will begin to grow. You don’t want to get the wrong impression, dogeco isn’t all about the money, although a large amount of dogecoin can lead to a nice nest egg.
You see, if you purchase enough doge, you will begin to understand what makes dogeco worth what it is today. It started off as just a novelty… but it has grown into something a lot more substantial and valuable. So, why stop with a few dozen doge, reach for the hundred doge and get moving. Because as the value of doge grows, so will your income and investments. So, get in on the doge trend, you won’t be disappointed!
Why Dogeco Is Worth Investing Your Money?
Dogeco was launched by one of the most prolific cryptologists of all times, Flavien De La Torre. Dogeco is an alt coin which was created to fund social ventures, in order to eliminate poverty and give poor people access to financial tools they could use to become more self-sufficient. In its earliest stages, the Internet was used to promote these ventures and the first “doge” was given away for free as an Internet experiment. Today, the Internet has evolved greatly and many dogecoins are now freely available for social interaction and charitable giving.
Dogeco is a decentralized, peer-to-peer digital asset that functions exactly like any other form of money. It is not backed or held by any central institution and it is not backed by a physical commodity. The reason why dogecoins exist is due to the popularity of decentralized money and how it can provide an alternative to the traditional, centralized currencies in the world today. While this type of currency has no intrinsic value apart from being a popular concept, the process of collecting dogecups will be different than those of traditional currencies.
Since dogecups can be traded anonymously and for free, they serve as great testing grounds for software developers and marketers alike. During this phase of development, dogeco will allow anyone to test the market cap for free using a paper wallet. With dogeco, anyone can follow along in the development of the protocol by sending them a few doge Coins in the mail. This phase is similar to the original launch of the protocol where Billy Markus and Jackson Palmer placed the transactions on an hidden service, which was later discovered and leaked by a disgruntled developer. Since then, dogecoin has slowly gained in popularity as well as its market cap because of this leak.
This brings us to the present where dogeco is currently at the beginning of its second phase. After testing, dogecoins are made publicly available and can be traded freely on top exchanges such as bitfury. This phase is referred to as the “WoW Insurance” phase since it will allow anyone to trade and collect dogecups with real cash. By now, dogeco has become one of the most profitable coins in the world due to its popularity among gamers, who use it as WoW insurances. The WoW insurance will also enable anyone to play for free and therefore start their own business of doge trading if they wish. Due to its popularity, dogecoin has reached a high market cap and is expected to increase its value in the future.
As discussed at the start of this article, dogeco’s past and present status are both great factors of its success. However, the most important question that we must all be asking ourselves at this very moment is how long dogecoin will last? Although some analysts provide answers such as “a year or two” others give answers such as “a few months”. Despite these statements, some analysts have projected that dogeco will last at least up to the end of this year and possibly longer depending on its performance.
In conclusion, we can say that dogeco still has a lot of potentials to expand and meet the demands of both investors and players in the business industry. Although there is no direct progress of dogecoins towards being accepted as a payment system for online gaming and businesses, dogecoin price has reached an all-time high recently, thus encouraging more investors to buy dogecoin right now. At the same time, the dogecoin price has declined drastically in the past few months, giving investors a great opportunity to buy dogeco at a low price. Thus, dogecoin is a good investment vehicle that is worth looking into if you want to make money in the Cryptocurrency Market.