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How to buy cryptocurrency and store it safely?
Cryptocurrency is a new class of digital assets popularized by Bitcoin (BTC). While cryptocurrencies or digital/virtual currencies work much like their traditional fiat counterparts, the biggest difference between the two is the lack of centralized infrastructure and banks.Where fiat currencies are issued by and kept in banks, digital currencies are issued via distributed mechanisms that follow strict consensus protocols. This translates into cryptocurrencies being stored on blockchains which are largely immutable, much more transparent and globally accessible.Given their utility and growing list of use cases, cryptocurrencies are gaining popularity and one way to buy cryptocurrency is to use a reliable crypto exchange like OKX. On OKX, users can sign up, verify their identities and start buying Bitcoin and other cryptocurrencies instantly using credit cards, debit cards, bank transfers and other supported payment methods.Typically, when you buy cryptocurrency, you have to store it in a dedicated wallet, but the security of your digital assets depends on how safely your private key is kept. Every cryptocurrency wallet has a private key which allows complete access to the stored digital assets. If you lose your private key, you effectively lose your funds.Using an exchange like OKX also facilitates users because their newly purchased or traded digital assets are kept securely on the platform and are credited into users' accounts, available to be sold or transferred as required.Ultimately, users should always buy cryptocurrency from a reliable exchange, and if they withdraw their digital assets to a personal wallet, they should keep their private keys safe and backed up to ensure the security of their funds.
Why buy Dogecoin with OKX?
How do I mine Dogecoin?
The Dogecoin blockchain, known as Dogechain, uses a proof-of-work consensus algorithm, meaning that DOGE is mined by solving complex mathematical problems to verify new blocks. Miners typically have dedicated computers for mining Dogecoin — and the more powerful the hardware, the easier it is to mine new Dogechain blocks. There is no limit to the token supply of Dogecoin, so new DOGE can be mined indefinitely.
What is a meme coin?
A meme coin is a cryptocurrency that is created with the intention of being humorous or that is centered around a popular internet meme. While the first and largest meme coin is clearly Dogecoin, news of several other coins has emerged since, such as Monacoin and Tendies. With the explosion in the popularity of DeFi, new meme coins centered around liquidity have emerged, such as HOTDOG, MEME and others.
What is the highest Dogecoin has ever been?
The highest that the Dogecoin price range has ever touched was over $0.72 in May 2021, when Dogecoin news was at a fever pitch and when Elon Musk began tweeting about it.
How do I buy Dogecoin?
OKEx offers an easy, convenient, secure platform to buy, sell and trade Dogecoin. If you are already signed up with OKEx, you can buy DOGE using a credit or debit card, a bank transfer or other supported payment methods. Once purchased, the Dogecoin will automatically appear in your account. If you are not yet signed up, it only takes a few clicks to get set up and start trading DOGE.
How is Dogecoin different from Bitcoin?
While DOGE and BTC are both decentralized cryptocurrencies, there are some fundamental differences between the two. Perhaps the most significant difference is that BTC was designed to be deflationary, with a strict supply limit of 21 million coins, while Dogecoin has no limit to the number of coins that can exist. There are currently over 100 billion Dogecoin in circulation, and because of its inflationary nature, it is not often used as a long-term store-of-value asset in the same manner as BTC.
Want to learn more before you buy Dogecoin?
Get detailed information about cryptocurrencies listed on OKX, including their tech, founders and price history.