Altcoins, Cryptocurrency

Dogecoin: Your Gateway To Cryptoverse

Billy MarkusDogecoin co-creator, claimed last Monday that Dogecoin functions as a portal for people to join the cryptocurrency world.

Dogecoin Creator’s Perspective

Recently, somebody tweeted at Markus regarding how Dogecoin should not be viewed as a “gateway drug” into cryptocurrency. Notwithstanding, Markus replied that it is an educational tool for folks.

As per his tweet:

He also added that,

“What they do after that is up to them! But it’s not a threat to the space, it’s quite the opposite, it’s helped the space tremendously.”

This echoes what Dallas Mavericks owner Mark Cuban described to Ellen DeGeneres during her show when he tried to explain Dogecoin. Cuban mentioned that he lets his son invest in Dogecoin to understand the markets of cryptocurrency.

  • “So the question everyone wants to know, is Dogecoin a good investment? And here’s the reason I got Jake into it. It’s not necessarily the best investment you can make, but you can buy it on Robinhood, and signing up and trading on Robinhood is free. So that’s one thing,” Cuban mentioned on “Ellen.”
  • “The second thing is it’s about 26 cents per Dogecoin. So if you go and spend $5, $10, $15, that’s a better investment than buying a lottery ticket. And you know what? It could go up,” he added. “It’s also becoming a digital currency, which is crazy if you think back to its origins.”

Should you invest in Dogecoin?

Jordan Awoye, the managing partner at Awoye Capital, a financial service company, addressed in an opinion piece for CNBC that folks who want to make money fast probably should avoid Dogecoin because it has a volatile market. There’s also a lot of risk with such a fast-moving market that could cost you a lot of money.

Yet, he stated one of the advantages of Dogecoin is that it needs a low investment. It’s worth less than $1 in value — hovering in the $0.40 to $0.70 range in recent weeks — so there’s not a massive risk if you invest a little bit.

  • “I explain to clients that they need to determine how much risk they can handle, especially when it comes to cryptocurrency. And since every individual is different, the conversation will be focused on that person’s goals before deciding how much risk to take,” he wrote for CNBC.

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