Let’s take a quick dive into its history.
Dogecoin was created by software engineers Billy Markus and Jackson Palmer as a joke to make fun of Bitcoin and other cryptocurrencies with grandiose plans of changing the world with their hopes and promises. The coin’s mascot, as I guess we could call, it features the Shiba Inu dog, which you’ve probably seen in memes across Instagram and Twitter.
Although it all started as a joke, Reddit’s online community took Dogecoin to a whole other level. At the time, Dogecoin.com promised the world a “fun and friendly internet currency.” However, people began to look at Dogecoin through the lens of serious investment prospect with its market cap reaching $85 billion on May 5, 2021. As of May 24, 2022, Dogecoin’s market cap is still $11 billion, even with markets hitting a downward spiral.
So where and how exactly do you get a hold or “hodl” of this memefied cryptocurrency? Well, we had to go to the place where it all started - Reddit.
Reddit has mentioned Robinhood as one of the places to buy dogecoin. Some concerns around buying crypto on Robinhood include not being able to transfer crypto easily in and out of Robinhood. Some comments also mention that Robinhood holds one third of dogecoin in circulation. While some folks are bothered by buying coins without a wallet, others are simply indifferent, especially when it comes to owning small amounts of the memeified crypto currency.
Okcoin is another platform named in the Reddit comments, mainly by those who are trying to move away from Robinhood. According to its website, Okcoin is a globally licensed exchange with offices in San Francisco, Miami, Malta, Hong Kong, Singapore and Japan.
Redditers have listed Binance as another go-to for buying dogecoin. In terms of trading volume, Binance is the largest exchange in the world. Yet, there seems to be some dissatisfaction among doge fanatics. Comments allege dogecoin on Binance may not be the real deal and are pegged to a dogecoin-related token.
In the Dogecoin Reddit universe, there are several mentions of Coinbase Pro. Coinbase Pro is mainly for advanced crypto traders with complex tools and additional technical insights. Discussions center around the “lower fees” on Coinbase Pro, and well of course buying the dip.
Gemini is a cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets. It is a New York trust company that is regulated by the New York State Department of Financial Services and was founded in 2014 by Cameron and Tyler Winklevoss. It’s a popular pick among redditers.
The Content is for informational purposes only, you should not consider any such information or other material as investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation, endorsement, or offer by Alinea Invest or any third party service provider to buy or sell any securities or other financial instruments in this or in any other jurisdiction. When investing your capital is at risk.