Set up in 2013 by Jackson Palmer and Billy Markus, Dogecoin was inspired by the then-popular Shiba Inu “Doge” internet meme.
It was initially introduced as a parody currency but quickly gained a cult following and has since soared in value.
The Dogecoin website describes the currency as a “decentralised, peer-to-peer digital currency that enables you to easily send money online.”
Dogecoin is a fun, new and rapidly growing form of digital currency.
“This form of digital currency is called ‘cryptocurrency’; a type of digital currency. Cryptocurrency is completely anonymous, decentralised, and extremely secure.
“Dogecoin is used with a wallet on your computer, your smartphone, or a website.
“You can use it to buy goods and services, or trade it for other currencies - both other cryptocurrencies or traditional currency like US dollars or Euros.