Before you invest in Dogecoin!

First a little history

Dogecoin is a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system that is instant fun and free from traditional banking fees. To do this, the coin featured the friendly face of the Shiba Inu dog from the popular “Doge” meme as its logo.

It was introduced on December 6, 2013 and quickly developed its own online community reaching a market capitalization of US $1,986,736,955 at it’s peak on Sunday, January 7th 2018.

This is a quick summary of its Origin.

“If you don’t believe it or don’t get it, I don’t have the time to try to convince you, sorry.” — Satoshi Nakamoto

My basics

Now let’s look at the structure of this coin and crucial things that I look at in any cryptocurrency that I decide to invest in.

The first thing to look at is the developers and the management team of any cryptocurrency. Are they real people? Do they give you access to their phone numbers, emails, addresses or some way to communicate with them?

I also look at the coin holders. This one is very important in my book, if it only has 10 coin holders, it’s likely to fail. If the cryptocurrency has thousands of coin holders it has a chance…