Why Dogecoin Crypto is Worth the Investment

With this rapid increase in the worth of the crypto, many people are skeptical about putting their money into it, largely because of its history and because of how people perceive it on the internet. There is a lot of apprehension with new coins like this one, even though dogecoin is relatively not a new crypto.

However, despite these fears and considerations, there are a lot of reason why investing in DOGE may be the best crypto move you will make in 2021.

Here are top 8 reasons to get dogecoin in 2021:

1. Secure currency

Just like the bitcoin, dogecoin exists in a highly secure blockchain. Considering the fact that it shares the technical features alongside the foremost crypto in the block, the bitcoin. It is a highly protected coin and provides live/real time consensus.

For any hacker to break into the dogecoin blockchain they need to control more than half of the hashing power. The current hash rate for the crypto coin is 203.97 TH/s and this makes it very unlikely that a hacker would break into the system and carry out any substantial damage.

2. The big shots are going for it

One of the things that inspire people to own cryptocurrency is the way those in positions of power engage in it. Although a major factor that motivates people to go for crypto is its inherent value that will rarely depreciate because the reason for getting into it in the first place will always emerge in human culture.

As long as there is that increase in demand by people who are always chasing the high value currency. There will always be the agent of scarcity controlling the value of the crypto with its limited supply especially in times of economic crisis.

Elon Musk and Mark Cuban

In light of this, big shots in investments like Elon Musk, CEO of Tesla and SpaceX, Mark Cuban, a major investor, are putting their money where their mouth is. This implies that the money would be going to the DOGE. Elon Musk has actively tweeted on the benefits of the dogecoin, outlining how the hype is worth it.

He has gone to the extent of mentioning that the coin may as well be the future of currency in his tweet that says, "The people have spoken," among other tweets like "bought some dogecoin for lil X, so he can be a toddler hodler," "D is for Dogecoin," "Who let the doge out."

Mark Cuban has also endorsed the coin saying in his tweet that if he was asked to pick between a lottery ticket and the dogecoin he would rather put his money with the DOGE instead of the lottery.

3. Good future growth

Right now, dogecoin is worth all of $0.05 per unit and crypto experts predict that these prices can only go up. In fact, a lot of them say that the DOGE can get up to a dollar in the near future and on long term basis, even surpass this figure.

The same way bitcoin started out as a low price crypto, dogecoin shares the same prospects and some dogecoin enthusiasts believe that this means the coin may grow to rival the bitcoin in the future.

Elon Musk, who has been actively involved in investing in dogecoin, has made numerous statements about how dogecoin is the future of cryptocurrency. In his tweets, he has disclosed that he even bought some of the crypto for his son as a long-term investment into his future.

The tech mogul made this move in the hopes that his son would cling, as he seems to be, to the emerging cryptocurrency that easily identified by its logo, a shibainu dog.

Controversy

Even though people do not trust Elon, the pioneer for greener technology seen in Tesla and SpaceX ventures, like @Skelkjaerr

from personal experience, there is no doubt about the potential of the coin that he has seen. In addition, other experts agree with him on it. Because of the potential the coin possesses and its current low prices, there is little to lose and lots to gain from acquiring the crypto.

4. Cheap to buy

As a relatively new crypt coin, DOGE is still quite cheap to buy. Looking at coins like bitcoin and ethereum these days, many crypto newbies would be intimidated by what it costs to lay their hands on this coin. With bitcoin going at up to 48,000 dollars per unit, ethereum at 1,500 dollars. These crypto coins have become one of the most inaccessible coins to acquire.

Bitcoin price

Investing in cryptocurrency means that you expect to get a good amount of returns on your investment relative to the initial amount you bought it for and with the huge amount of money you would use to purchase these coins, there is no guarantee that their prices will be steady or even avoid a dip. As famous investors warn, only invest money you are okay to lose. Investing all that money on the bitcoin is only possible for billionaires as they are the few that can afford to risk their income on a currency like that.

Ethereum price

Conversely, when it comes to the DOGE, its prospects and current market value make it worth the investment, you can get a DOGE for less than a dollar and with its increase from a cent to 0.05 dollars, and there is room for the crypto coin to make it to $1.

With such an increase in view and with the rising market cap of the coin, there are more chances of you making even more returns on your investment as the prices rise. Therefore, it is an advantage the coin has at the money that it is cheap to buy and easily accessible due to its fast growth in recent times.

5. Not fluctuated by media and hedge funds

In the world of cryptocurrency, there is a lot that affect the prices of a crypto coin. Things like politics, economy fluctuations, media, stocks and shares, hedge funds and all sorts of things come in to play a role in how successful a coin is likely to be.

For instance, the success of the bitcoin is largely dependent on all these factors and with each fluctuation; the price varies and can go through massive dips and equally massive rise in its process.

People who are new to trading in the crypto world, this can create a lot of risk trading as much as there is a lot of success in it as inflation is a huge factor for investments.

For a coin like dogecoin, there is little influence of factors like the media and hedge funds. It is not sensitive to the manipulation of hedge funds. In addition to that, it is not influence by a great extent by media hype.

This point may come off as false to many people that are still getting into the technicalities involved in crypto prices. But that is the reality of it. Dogecoin does not depend on media craze or exaggeration for its value to be determined. What drives its success is how scarce it can be.

This makes the dogecoin a more stable coin to invest in. There are no great fluctuations in its prices and it can easily be predicted using these factors. It does not involve a lot of risk to be taken in its acquisition and success. To show how good this has worked for the coin, its market cap is near 128 billion. With this, it is evident that the coin has nothing to do with the opinions of media houses.

6. Simple to use

Dogecoin is not a complicated crypto to use. There are no extra steps to take in order to access this coin and there are no extra routes or barriers to acquire and use the coin. It is all straightforward and user friendly. From digging, to distributing to buying and selling with p2p or exchange platforms like Remitano, access to dogecoin.

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Because of the increase in price of the crypto coin that started out as joke, inspired by an internet meme. The market cap of the DOGE has skyrocketed in the past weeks. With this increase in price, there are even more people that are willing to invest in the coin. Which creates even more ways for users to access the coin and make use of it.

The mining process, as discussed above, is not a complicated one, and with laws set in place to regulate it. There is even less intricacies involved in the production of the coin.

Because of its ease of access and increasing generalization, less and less barriers come between the coin and its users. Nonetheless, it doesn't require futures contracts like bitcoin futures, a feature used by bitcoin users for crypto transactions.

7. Mining dogecoin is greener

People who are familiar with how cryptocurrency is produced are aware of how much energy it takes to mine. Cryptos like bitcoin take up to 127 terawatt-hours of power annually and as much as it is the future of currency. It may not predict a healthier future for our blue planet, earth.

The reason it consumes so much power is that it requires computers that are able to run through complicated calculations that enable the verification of transactions by people that use crypto in their daily buying and selling transactions. These intricate puzzles ensure there is no compromise with the public ledgers and authenticity is maintained. Reducing the likelihood of frauds and swindles in the blockchain system.

These computers need a lot of electricity to function, to keep them cool. And not overheat due the amount of heat it generates. Though fiat currencies need even more power to maintain its production and distribution. It does not take away from the impact of both fiat and bitcoin on the state of the earth.

Dogecoin market cap

In contrast to all this, dogecoin, being a cryptocurrency that keeps it market capitalization at certain amounts at every time. It does not require as much power as other larger coins. As an altcoin, dogecoin has formulated a means to save the amount of powers its computers use in mining.

With new laws in place to guide and regulate crypto, dogecoin cannot be mined separately. This is because it has now been linked to the production of litcoin blocks. Which means that extra energy is not needed to mine dogecoin. It is now produced with the same energy it takes to also make litcoin at the same time. Halving the amount of power generated by the computers and the amount of energy needed to keep the computers cool. Unlike its older and more popular counterpart.

Therefore, to be environmentally friendly. It is more advisable to go for coins, like dogecoin that do not put as much strain on the environment. Even the CEO of Tesla and SpaceX, Elon Musk. Who is all about making sustainable and environmentally friendly technology. Endorses the use of dogecoin and he has been tweeting all about how the future rests with coins like the dogecoin.

8. Dogecoin is becoming a mainstream means of payment

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Because of the rise in prospects for the coin, many businesses are beginning to accept payment in DOGE. The crypto has made such a name for itself that it is fast becoming a means of transacting in other businesses as well. With this adaptation, there is only good news for the future of the coin as more technology emerges for ease of use of crypto in daily business dealings and exchanges.

The more business adopt the use of the crypto coin, the more its market cap increases and as we mentioned earlier. With the increase in demand of the coin, there is bound to be an increase in its value.

Elon Musk, who is known for his eccentric opinions on cryptocurrency as well as his technological innovations is putting his money on the fact that cryptocurrencies like dogecoin is going to redeem a lot of f