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What is All the Hype about Dogecoin (DOGE)?

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The history of Dogecoin is an interesting one; although conceived as a joke, Dogecoin had made its way into the trading communities to become an internet sensation. When Billy Markus first developed Dogecoin in Portland, Oregon, he had no idea it would evolve to become one of the most sought-after coins in the market. As evident from its appellation, Dogecoin was named after the popular “doge” meme of Shiba Inu. With thousands of users posting memes about Dogecoin, it’s not hard to guess why its value has surged so high.

Should You Invest in Dogecoin?

Today, Dogecoin ranks among the top currencies of its kind, and the internet hype has a huge role to play in it. This altcoin was developed to cater to much broader demographic than Bitcoin. It was believed that its fun feel will protect it from controversies of Bitcoin.  As of 14 March 2018, the market cap of Dogecoin stands at 442,260,525 USD. Featuring among the popular altcoins, DOGE is traded on several online exchanges which offer DOGE/LTC, DOGE/BTC, and other trading pairs.

If you are new to cryptocurrency, you should definitely try your luck with DOGE, as it can help you gravitate towards the broader crypto space. Trading with Dogecoin is fairly simple. To begin with, you should get a wallet from Dogecoin.com, a decentralized open-sourced blockchain that allows users to send funds to anyone with a Dogecoin wallet.

Dogecoin, the Trump Card for the Underdogs

When Dogecoin was first introduced, its use was restricted to only a few internet geeks. The recent rise in the value of Dogecoin has prompted many traders to trade it on various exchanges. However, in the sporting circles, it has attracted some unorthodox sponsorship. For instance, in 2014 the Dogecoin Community donated a sum of $55,000 to the US stock car racing, joining hands with Nascar driver Josh Wise.

Discernibly, sporting underdogs have done an excellent job out of Dogecoin, taking it to the zenith of success. Following the news of the US stock car beneficiary, another important event changed the course of Dogecoin when the Dogecoin backers raised $25,000 to drive the Jamaican bobsleigh team to the winter Olympics.

Although the sporting underdogs have done a splendid job out of Dogecoin, it is not clear whether the same can be said about the investors. Dogecoin, which has attracted many investors in the recent time, is mined in the same manner as Bitcoins, using computer processing power. While there is no upper limit on the number of Bitcoins that can be created, such limits are not applicable in Dogecoin, as over 100 billion Dogecoins are in circulation.

The Future of Dogecoin

The parody coin, which was named after the Japanese dog Shiba Inu, has attracted many critics in the past. But it has broken off the leash; much to the critics’ dismay, it has reached a market cap of $1 billion. Although it was invisible for most of the time in the past years, over the last couple of months its price has moved up exponentially. In fact, according to the latest survey, the price has gone up by more than 400 percent, an all-time high which has created quite a bustle among the trading enthusiasts. Based on the analysis pitched by coinmarketcap.com, this year’s crypto momentum is likely to favor the altcoins like DOGE. If the analysts are to be believed, the price will skyrocket further in the coming months. So, if you are a big fan of altcoins, and looking to invest in DOGE, this is probably the best time to buy your assets. After all, this is “The year of the Dog” in the Chinese calendar!

We will be updating our subscribers as soon as we know more. For the latest on DOGE, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of AUDE VILLOT via Flickr

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Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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