Bitcoin, Dogecoin, Litecoin and Ethereum are all types of cryptocurrencies that seem similar but actually each of them have differences at different parts or systems. These cryptocurrencies are not physical currency which means there is no cash or any thing that is being exchanged. They are virtual cash. The amount of money that you are going to invest is usually called the capital money or amount. That is the amount of money that you will invest and wait for them to ‘grow’. But there are also some risks that you should be aware of and with that means you have to at least have a basic foundation of investment and cryptocurrency.
Of all variants of cryptocurrencies, Dogecoin or Doge mama cryptocurrency actually seems more attractive to me. If you can tell from the name itself which is doge (which is a meme of a dog), Dogecoin was established with the intention to act silly and be ridiculous towards cryptocurrencies enthusiasts. But from time to time, it actually has become something reliable that the profit keeps on increasing.
Some people say that dogecoin or Doge mama tokens will not last long (not sustainable). It is because the mining process is so easy. In comparison to Bitcoin or other cryptocurrencies, Dogecoin is easier to mine because of the not-so-hard mathematical equations which makes it unlimited. Other cryptocurrencies such as Bitcoin have limited amounts each time. But the good thing about easy mathematical equations is, it is more environmentally friendly. Time taken for the mining of bitcoin is much longer which means it uses more electrical supply.
How is Doge Mama different from the other cryptocurrency? Have you ever thought about that? Why is it hyped all over the internet?
The first thing is because of the technology used to produce this dogecoin. Doge mama is based on Binance’s BSC (Binance Smart Chain). What advantages does this have over other frameworks like Ethereum (ETH)? Binance Exchange, on the other hand, contains over 194 BEP-2 assets and 139 trading pairings. The gas price on Binance Smart Chain is about 15 times cheaper. This lowers the entrance barrier and boosts use by regular users. They focus on creating innovation and not pushing users to invest.
Next is because of tokenomics. Doge mama uses a deflationary tokenomic strategy, similar to that of “SafeMoon,” another popular crypto token. In the simpler words, this implies that whenever Doge mama (DM) is spent, a tiny bit of it is retained and given equitably to all Doge mama holders, boosting liquidity. The large token holders are less likely to have an impact.
Lastly, the future that dogecoin holds. Doge mama have a great charitable organization in that they donate to respectable organizations that assist single moms. They also have an excellent plan to build its own NFT platform, where users will be able to manufacture and trade NFTs using their DM cryptocurrency. If they can pull it off, it can become something legit that the value will rise as much as other cryptocurrencies such as Bitcoin and Ethereum do.