A lot of people think that since it’s such a new currency, Dogecoin isn’t as valuable as Bitcoin. To some degree this is true, but there are benefits to investing in Dogecoin.
The first benefit is stability. Since it’s so new and has a low market cap, Dogecoin fluctuates less than Bitcoin. This makes it a great investment for those who don’t understand how the market works or for those who plan on saving their coins for a long time and don’t want price swings reducing their savings account.
You can buy fractions of coins
Another benefit is that you can buy fractions of coins instead of whole coins. This means you can invest smaller amounts when you buy dogecoin,if you’re looking to invest more than most exchanges allow with your bank account.
Another benefit is that it’s accessible to anyone with a smartphone. If you want to send or receive coins you can do so with the official Dogecoinapp or the unofficial Coinomiwallet for Android users. For iOS, MultiDoge is an option. Since many people own smartphones and sending coins doesn’t require much computer knowledge this makes it a more “accessible” investment.
The next benefit is its availability on exchanges. This makes it easy for investors to get in and out of Dogecoin quickly if they suddenly see a good price swing in another currency or cryptocurrency they know well. This is not possible with Bitcoin unless you have a lot of money sitting around ready to invest at any moment – most people don’t.
It’s a meme coin
The last benefit is that it’s a meme coin and those are fun to collect even if they aren’t worth anything. They’re also the inspiration for what Dogecoin was in the first place so if you like collecting memes or would like to see more memes come alive as currencies you might be interested in owning some Dogecoin yourself.