Starting today, you can buy and sell dogecoin (DOGE) on our platform. DOGE will be available to everyone in the United States and internationally, except for residents of the European Union, the United Kingdom, Singapore, and Burnei.
Here’s more information about when it will be available, what it is, and why it’s more than just hype.
- Trading pairs: DOGE/USD
- Depositing available on Sunday, April 25 at 8 pm PT.
- Trading and withdrawals available on Monday, April 26 at 8 pm PT.
What is Dogecoin?
Dogecoin may have been inspired by the “so wow” shiba inu meme back in 2013, but it’s evolved to be much more than an internet joke. It’s now the seventh cryptocurrency by market capitalization in the world.
DOGE shares a lot of its fundamentals with other cryptocurrencies—it’s designed to help people easily exchange value via a blockchain, without any financial gatekeepers. DOGE transactions cost less and you can currently use it to tip creators on Reddit, make donations, buy Dallas Mavericks tickets, buy laptops on Newegg, among other things. The underlying technology is very similar to Litecoin blockchain (a fork of the Bitcoin blockchain) and its mining is integrated with it. It uses the same proof of work (PoW) consensus algorithm—that means someone can easily mine dogecoin if they’re mining litecoin without additional work.
There are two main features that set it apart from Litecoin:
- Dogecoin’s transactions are fast, thanks to a one-minute block mining interval. This makes it great for micropayments, like tipping online.
- The total number of dogecoins is not limited. The supply was initially capped at 100 million, but developers eliminated the cap shortly after it launched, adopting an inflationary fixed-issuance supply model. Since 2015, five billion coins per year have been added to the total, and the supply growth is likely to continue.
All about community
While many coins have passionate communities behind them, few rival the DOGE community. The dogecoin subreddit. r/dogecoin, just surpassed 1.5M subscribers. Aside from supporting the asset since 2013 and sharing a love of dogs, it’s clear there are a lot of service-minded people behind the scenes. Some claim “DOGE” actually stands for DoOnlyGoodEveryday. A few feats the community has pulled off:
- On Christmas in 2013, Dogecoin’s first online wallet was hacked and 21 million coins were stolen. A “Save Dogemas” fund was launched by members of the community, and they quickly raised enough to compensate all of the victims.
- In 2014, Dogecoiners came together again to send the Jamaican Bobsled team to the Olympics.
- In 2014 Dogecoiners raised $55,000 to sponsor Nascar driver Josh Wise so he could compete in the #98 Moonrocket at the Talladega Superspeedway, complete with DOGE images on the car.
- In 2015, they launched the Doge4Kids campaign, to fund service dogs for families in need and disabled children.
- This month, a Dogecoin investor anonymously paid the adoption fees for 21 dogs at a Florida animal shelter.
If there are reasons DOGE is worthwhile to you, know you can now add it to your portfolio on OKCoin—and get lower fees than most other exchanges if you do.
Remember, crypto markets are volatile. As always, we recommend you do your research, consider dollar-cost averaging, and invest responsibly.