Dogecoin, where the richest person has invested his money, sure this currency has some good potential and benefits that will admire you. Now, this currency has many advantages like cheap, fast, secure, and many other benefits. Let’s discuss its advantages in detail in the below article.
Growing Community of Holders
Dogecoin was created in 2013, but at that time has didn’t grow that much. And still, now most of the Dogecoins are held by few people. But it’s a fact that people are getting this one and investing their money on dogecoin. However, Dogecoins are getting circulated more day by day. At the same time, since there is no supply limit for Dogecoin, people can buy as much as they can and circulate them easily. All the investors can buy Dogecoins easily from any crypto exchange.
Decentralized Exchange Capability
Dogecoin is a decentralized cryptocurrency that is designed for working in a decentralized environment, and it can do that well. However, Dogecoin was designed under the Ethereum blockchain system. And that’s why it can easily work with the decentralized system. Moreover, Dogecoin has access to a decentralised finance network, which means it can work with the decentralized finance movement without any problem.
Faster Transaction
The fact that makes this crypto better than bitcoin and Ethereum is its transaction speed. Every cryptocurrency can complete a number of transactions per second; that is called the transaction rate or transaction speed. However, you will be shocked to know that Bitcoin can complete seven transactions per second, and Ethereum can complete only 15 transactions per second. On the other hand, Dogecoin can complete more than 33 transactions per second, which is a big win for Dogecoin since it has beaten two of the top cryptocurrencies in the entire crypto market.
What about the Transaction Fees?
Dogecoin has beaten Bitcoin and Ethereum in the cost areas as well. That is because Dogecoin costs lesser than two top cryptos. Where Bitcoin and Ethereum cost multiple dollars for every transaction. But Dogecoin only requires a few cents for completing the transactions. So, it is a great thing that this currency will save a lot of your money when you use this to transact.
Security
Dogecoin uses the PoW consensus mechanism in the blockchain. That means every miner has to prove their work on the blockchain so that they can get the crypto reward. That makes it a very secure payment and crypto exchange system. Now, it won’t be possible for any random miners or hackers to claim the block; instead, they have to use a massive amount of computer power so that they can claim their work, so it would be impossible to hack the Dogecoin blockchain. That’s why the security of Dogecoin is really amazing.
Listings
Dogecoins are listed on almost every crypto exchange platform. So, you won’t have to worry about the availability and buying a place of the dogecoin. You just go to any popular crypto exchange platform and buy dogecoins as you please.