can you make money on dogecoin?
can you make money with dogecoin? I’m sure that you are one of the professional Dogecoin fans that you are looking to earn money from. In 2020 and 2021, this strangely crypto currency grew exponentially, thanks to the rise in Bitcoin prices as well as the many messages of support they received from Dodge Coin. Elon Musk is one of those people who with every tweet caused a sharp increase in the price of Bitcoin and Dodge Coin. Today, the price of Dogecoin and Bitcoin has decreased and there has been some decline.
In this article on the shetcoiner site, we will look at how to make money from holding or buying Dogecoin, and we will teach you a number of ways to make money from Dogecoin.
Is Dogecoin a good investment? Dogecoin review
Where did Dogecoin come from and what is it?
When Billy Marcus and Jackson Palmer made Dogecoin from Bitcoin coding, it was more about entertainment and meme, and they intended to use this fun crypto currency as a help and reward for content creators on social media. But with the sudden rise in the price of Bitcoin after the pandemic, which was due to the printing of large sums of money by world governments, as well as the transfer of money into digital currencies from Bitcoin to Dogecoin, this crypto currency became very valuable and made many billionaires.
In 2013, Jackson Palmer, product manager and data analyst at Adobe in Sydney, decided to joke about the digital currencies that are increasing in number every day. So he jokingly posted a text on his Twitter in which he wrote that he has invested in a new digital currency called Dodge Quinn, and this digital currency has the potential to become one of the best crypto currencies in the world!
Palmer said on Twitter that such an encrypted currency did not exist at all until then!
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He then created a site called Dogecoin in December 2013 and posted a coin image on the site’s home page featuring a picture of a Japanese Shiba Inu dog. He also wrote in a text on this site that if anyone needs to convert Dogecoin into real coins and real money, contacts him.
It was at this time in the United States that a programmer named Billy Marcus was programming and building his own proprietary digital currency. And they made mining similar to Bitcoin and turned it from a joke into a reality. Let’s skip these initial descriptions of Bitcoin history and look at how to make money from Dogecoin.
How can we make money from Dogecoin and make a profit?
In this section of the shetcoiner site article, we will tell you and teach you how to make money with dogecoin
Buy and HODL
The word “Hodl” or “Hold” originated when a Bitcoin fan used the wrong word to store Bitcoin many years ago in a programming Internet community and asked a question, and since then fans of crypto currencies have used the word they actually use it wrong to show that their investment is special.
How to recover Dogecoin wallet?
You can buy some Dogecoin and Hodl in a safe wallet. To buy Dogecoin, you can use decentralized exchanges such as Uniswap, Sushiswap or Pancakeswap. Of course, to buy Dogecoin, you can use centralized exchanges Binance, Coinbase, Kraken, Kucoin, Bitmex or gate.io. Keeping a Dogecoin for a long time can bring you a lot of wealth.
Staking
Staking is another way to invest in Dogecoin and make money from it. In this investment method, you can earn money from Dogecoin by locking and placing your Dogecoin in an investment fund or fixed income investment contract in exchanges such as Binance or Kucoin.
Of course, you should be aware that sometimes these exchanges stop or remove Staking Dogecoin contracts and add them again, so be careful that there is a way to earn Staking with Dogecoin in the exchange where you want to take your Dogecoin.
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Mining
You can extract Dogecoin crypto currencies and enjoy extracting it and making money. There are currently many ASIC Bitcoin miners that can extract Dogecoin for you in addition to Bitcoin and give you a lot of profit.
Keep in mind that to make more money or make more money from Dogecoin in mining, it is better to use newer and more up-to-date ASIC devices with higher efficiency to earn more Dogecoin. Finally, after earning Dogecoin, you can invest them in the previous methods we told you about and make money with dogecoin.
If you want to know more about crypto currencies read the following articles on shetcoiner site:
How to Fix “Price Impact Too High” on PancakeSwap?
How to transfer crypto from Kraken to Binance?
