Recently there has been a boom in the world of cryptocurrencies. What is a cryptocurrency? That’s a good question.
Cryptocurrencies are basically currencies that are online. Online money. That’s really what it comes down to. There are a few main currencies in the crypto world, mainly being Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE). Bitcoin was the first, and currently it’s worth the most, at around $600-700 apiece. It was worth a lot more, but its value took a nosedive recently. Litecoin is worth about $17 apiece. And Dogecoin? Apiece, it’s worth about… nothing. But about Ð1000 is worth $1. If you stockpile the doge, you can actually get enough money to buy something.
But what’s different about doge than other cryptocurrencies? Well, for one, they’re the newest. Dogecoin started in December, and the community has grown immensely since then. Secondly, the coin is based on a meme of a dog. That is highly unusual to some people. The community for Dogecoin is extremely friendly and tips DOGE to each other all the time, unlike the other communities, which overall tend to hoard their money.
You can acquire these currencies in several ways: buying, mining, being tipped, or faucets. You can buy a cryptocurrency with real money through various online services. Mining is when you run a program on your computer which links into a network with other people, where you “mine” and help discover more of the coin. Tipping is pretty much what it sounds like: other people on the Internet tipping you doge. There are tipbots for tons of social networks (the best tipbot being on Reddit, /u/dogetipbot!) and more are appearing. People can just give you money: that’s the magical thing about DOGE, because they actually do. They’re not self-absorbed hoarders. They just scatter you with doge: 20, 50, 100, 1000… I recently got a Ð5000 doge tip. I plan to keep Ð3000 of it and tip the rest, or donate to faucets.
Faucets let you get coins for free: just enter your wallet address and expect the money to come in soon. It’s a good way to get started at gathering money.
More and more things are accepting cryptocurrencies. Who knows? Maybe someday everything will accept crypto and it will become a currency like any other.
That’s all. Thank you for reading.