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4 Best Exchanges To Buy Dogecoin in Lebanon (2021

This simple guide for beginners will take you safely and step by step through the process of buying Doge coin. By following these steps, you will own your first Doge coin today! How exciting!

What is dogecoin?

Dogecoin is a cryptocurrency that started out as a joke in 2013. It is a satirical tribute to bitcoin, designed to only serve to generate a few laughs.

It got its name from an internet meme centered around the image of a Shiba Inu dog with bad spelling habits, hence "doge" instead of "dog». How to buy doge coins?

Dogecoin can be purchased with a credit card on cryptocurrency exchanges such as Bittrex Global GmbH and Pay ward Inc.'s Kraken, as well as on trading platforms such as popular brokerage firm Robin hood Markets Inc.

In February, the diverse group said it had added doge coin to its crypto-trading app as demand increased due to what chief executive Nigel Green called the “Elon effect”. Online brokerage firm We bull Financial LLC added doge coin to its We bull Crypto platform in April. In addition, eToro said on May 3 that it had added doge coin to its list of proposed assets.

The Gemini cryptocurrency exchange followed, announcing in May that deposits and exchanges were available for dogecoin.

How does Dogecoin work?

Like all cryptocurrencies, Dogecoin works by tracking the movement of coins on a publicly visible blockchain. This means that Doge changes hands between users without the need for a centralized intermediary such as a bank.

When it comes to the details of how Doge works, the coin is similar to Luckycoin and Litecoin in that it uses scrypt technology to verify transactions on its blockchain. This is a simpler function than the SHA-256 algorithm used by Bitcoin and means mining on the Doge Network uses less power.

If you're feeling a little lost and aren't 100% sure what words like 'mining' mean, take our free courses on the cryptocurrency you use to familiarize yourself with the basics of mining. 

Binance

Binance is one of the largest platforms in the world. The big advantage is that it is very easy to buy Dogecoin on Binance. As with normal currency trading, you pay a small commission on every trade you wait and Binance has great rates. Once you have purchased Dogecoin, you can choose to keep your coins online or send to a hardware wallet if it is available for your coins.

Coinbase

In the crypto world and on exchanges like Binance, you cannot buy every cryptocurrency directly with FIAT currency. For this, they created stable coins like Tether USDT.

These stablecoins are cryptocurrencies that you can buy to later exchange for the currency you want to buy. The name stable-coin comes from the USD because the price of these coins simply uses the price of the USD. Before purchasing your favorite coin, it is a good idea to research which coins are associated with the coin you want to purchase. For example, some coins only pair with Bitcoin and Ethereum, others also pair with stablecoins.

Benefits of using stablecoins As some cryptocurrencies can be volatile, stablecoins are often pegged to the USD. Therefore, their price remains very similar, which will reduce the risk while exchanging fiat currency for other cryptocurrencies and vice versa.

CEX

One of the biggest names in the cryptocurrency trading space; CEX allows users to trade hundreds of different cryptocurrencies, including Dogecoin. You can open an account now.

Capital - By offering a more user-friendly interface than the biggest crypto exchanges, Capital allows you to trade a variety of cryptocurrencies for Doge quickly, easily and anonymously.

Bitfinex

Bitfinex now stores 99.5% of its customers' funds in cold rooms. Only 0.5% of the funds are held in hot wallets to provide the necessary liquidity for the exchange. The cold storage system is geographically located and uses a multisig function. Merchants are now required to go through a two-level authentication process for their login and withdrawals. The first level of security is the two-factor authentication (2FA) layer. The second layer of security is Universal Factor 2 (U2F), which uses a physical security key.

For security measures, Bitfinex uses several sofas of security measures for different areas of its website. In terms of fund security, 95% of client funds are kept in a cold room. Data is now kept on a new, more secure server with an expanded security team to oversee server security. In addition, Hacktivist Security regularly tests the security.

You know enough about dogeCoin now. We hope that this article will meet your expectations. When it comes to us, we trust Centurion Invest

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