Unlike other Dogecoin buying guide UK that focus on a particular technology, Dogecoin takes its inspiration from memes and Internet culture. It began as a parody coin in 2013 but went on to achieve mass adoption. In fact, it’s among the top five most-traded coins worldwide. The coin is a transactional token used for microtransactions, tipping and other fun activities online.

It operates on a proof-of-work model but uses Litecoin’s scrypt technology, differing from Bitcoin’s SHA-256 algorithm, making it less energy-intensive. It also has a faster block generation time of about one minute, speeding up transactions and enhancing usability for everyday payments.

Compared to more stable cryptos like Bitcoin, Dogecoin has high volatility and price fluctuations. Its value is largely driven by social media trends and speculation, and it’s susceptible to market manipulations that can crash the price. It’s best suited for short-term traders and those who understand its speculative nature.

If you’re new to cryptocurrency, Onramp offers a safe and secure way to buy Dogecoin with British Pounds (GBP). Sign up for an account, complete the KYC process by uploading government ID and proof of address, and deposit funds using bank transfers, cards or supported apps like Apple Pay. Then search for DOGE on the exchange and choose either a market order or a limit order to buy at your preferred price. Once you’ve purchased, transfer your coins to a wallet for long-term storage. You can use wallet apps, exchange dashboards or third-party services to track your investment and get alerts for price movements.

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