1.
Dogecoin, a cryptocurrency with the Shiba Inu logo, was launched in 2013. Dogecoin has surged in popularity since 2019 after being publicly backed by tech tycoon Musk, and is classified as a "minecoin" and one of the top 10 cryptocurrencies by market capitalization.
(1) The emergence of Dogecoin
Dogecoin (DOGE) is an open source cryptocurrency that originated as a fork of the Litecoin codebase. As the name implies, it is largely based on the Shiba Inu emoji that took the internet by storm in 2013. The original image depicted a dog of the Shiba Inu breed with its inner monologue displayed in a comic book font.
Initially, Billy Markus, a programmer from Oregon, came up with the idea of creating a "funny" version of the digital currency. He reasoned that an approachable cryptocurrency would have a better chance of attracting the attention of the mainstream than Bitcoin. Around the same time, Adobe's Jackson Palmer said in a tweet (now deleted) that he was "investing in dogcoin and is convinced it's the next big thing".
Encouraged by some, Palmer went further and created dogecoin.com. Shortly after the site went live, Marcus stumbled upon it once. He contacted Palmer to make it a reality and then set about developing what is now widely known as dogecoin.
Once launched, the cryptocurrency quickly became a hit on social media. Within just a few months, its market capitalisation surprisingly reached millions of dollars.
(2) The principle of Dogcoin
The Dogcoin blockchain network uses the same system as many cryptocurrencies such as Bitcoin and Litecoin, by adding new blocks to its decentralised distributed ledger and agreeing with the network participants. This process is known as a "proof-of-work" mechanism, where individuals or organisations use specialised computer equipment to compete for the right to add new blocks containing pending transactions to the blockchain ledger.
(3) Advantages of Dogcoin
(1) Good cultural background - tipping culture.
Dogecoin, as an electronic currency, has become the second largest tipping currency after only one week of its launch. People are not involved in Dogecoin trading for speculation, but as a way to express sharing and gratitude.
② Good human background - philanthropic culture.
Dogecoin has been used extensively in charity, after helping the Jamaican bobsled team and three Indian athletes to embark on the Sochi Winter Olympics, Doge4Kids' charity fundraising campaign, all proceeds were donated to the 4 Paws For Ability charity, and it is understood that Dogecoin The Doge4Kids fund has sponsored another $30,000 to address the water crisis in Kenya, and recently the Doge4Kids fund has also sponsored a motor racing competition.
③ High popularity index - no one in the cryptocurrency world is unaware of it.
Some data shows that in reddit dogcoin community attention is more than 75,000, far more than LTC, while BTC five years, only 120,000 attention, in C online dogcoin turnover, since the launch, has been ranked first, more than all other cottage coin turnover.
(4) Dogcoin's community culture
The Dogcoin community has earned a reputation for charitable donations. Initially, it started as a reward system on sites such as Reddit, where users could send small amounts of dogcoins to each other to reward the creators of content on such sites.
This spirit of giving was echoed in subsequent, larger fundraising campaigns: in 2014, the community raised over $30,000 worth of dogcoins for the Jamaican bobsled team to fund their participation in the Sochi Winter Olympics. At the time, the team had qualified for the competition but could not afford to travel to Russia.
That same year, the community launched two other projects. doge4Water again raised over $30,000 to help the people of Kenya drill a well. Later, Doge4Water enthusiasts raised more than $50,000 worth of digital currency to sponsor NASCAR racer Josh Wise. Wyeth made the digital currency famous when he spray-painted the Dogcoin logo on his race car.
Elon Musk, CEO of Tesla , has tweeted that Dogcoin is probably one of his favourite digital currencies. After a community vote, he teasingly became the voted CEO of Dogcoin.
- The content introduced above is only about the basics of cryptocurrency, which is related to whether we can make money through cryptocurrency. Cryptocurrencies make money not only by scientific methods to increase income, but also by finding ways to save money. The handling fees are small, but they must not be ignored. I have calculated that with frequent transactions and long trading hours, the accumulation of fees can add up to more than 10,000 U a year. Next I will introduce a few common ways to reduce fees on large trading platforms.
(1) Lowering Binance's fees
Binance is currently the world's largest digital currency exchange, and you must sign up for Binance if you want to speculate on coins. The transaction fee is deducted from the assets received. For example, if you buy Ethereum/USDT, the fee is paid in Ethereum. If you sell Ethereum/USDT, the commission is paid in USDT.
Example.
You place an order for 10Ethereum at a price of USD3,452.55 per share.
Transaction fee = 10Ethereum0.1% = 0.01Ethereum
Or you place an order to sell 10Ethereum at 3,452.55 USDT per share.
Transaction fee = (10Ethereum3,452.55USDT)*0.1% = 34.5255USDT
What many people do not know is that the Binance transaction fee can also be reduced. If you want to reduce your Binance trading fees, you must register using the invitation link below or use the invitation code "Q022W7SC".
https://accounts.binance.com/en/register?ref=Q022W7SC
(2) Reducing OKX fees
OKX is a professional digital currency trading platform loved by many users, and its transaction fees can be reduced.
Depending on the volume of transactions, OKX divides its users into two levels: normal and professional. Ordinary users are graded according to their OKB positions, while professional users are graded according to their trading volume and asset size. The different tiers determine the trading fees for the next trading day.
When calculating the fee levels, if the coin trading volume, total trading volume of delivery and perpetual contracts (USDT delivery contract, coin-based delivery contract, USDT perpetual contract, coin-based perpetual contract), option contract trading volume, and asset volume meet the conditions of different fee levels, users will enjoy the fee discount of the highest level.
First method: OKX has an official maximum saving of 20%. Use the link below to register with OKX and save 20% on fees.
https://www.ouyi.business/join/BTC1ETH
Second method: Open the OKX website and enter "BTC1ETH" in the "Invitation Code" on the registration page to see the cashback percentage: 20% at the bottom.
Be sure to enter this invitation code, otherwise you can not get 20% cashback percentage.
(3) Reduce FTX fees
FTX is currently a very fast-growing, contract players more exchange, you must register FTX if you play the contract. if you want to reduce the FTX transaction fees, you must use the following invitation link to register.
https://ftx.com/referrals#a=121031692
3, trading road is long, together with forward
Want to know more about how to reduce the commission?
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