Dogecoin (DOGE) is an anonymous cryptocurrency. The name of the currency comes from a joke on a Doge website where people would write random words on a piece of paper and then stamp it with a funny “doge” dog face. The word “dog” has become part of the vernacular, so a piece of paper with an image of a dog stamp on it would be called a doge. This explains how the word became associated with a cryptocurrency.
Dogecoin was created as an alternative currencies to Bitcoin. Both coins are mined by solving cryptographic puzzles which allow the holders to find a block of the currency. Once the block is solved the system is considered “hacked” and the currency is devalued.
Since this is a new online currency for consumers, many scammers have tried to exploit the scheme. They charge a very high buy-in for a “mining” service where they believe they can make money, but instead they lose it. To protect themselves, the Dogecoin website makes the users to sign a legal document and then for them to provide the mining details to prove that they understand the mining process.
In general, the Doge community is a good source of information on and about the currency. In fact, it’s a fun place to hang out. The pictures are always of doges doing silly things, and there is a section where you can add your own pictures of doges to the wall on your computer. You can get done in your email too!
DOGECOIN is an actual company and this is where the scams come in. The company was initially a promotion company. Their business is making money off of advertising the company.
What has happened is that the scammers have co-opted this space and introduced themselves as “community leaders “professionals” or even “founders”, but all they really are is people who are paid to put up videos, talk about “how to “how they made their money” and promote their products. No one is actually managing the Dogecoin website or even donating to the DOGECOIN foundation.
These scam artists try to convince users that they can mine doges and turn a profit. If you go on one of their “recruitment” websites you can sign up to mine and get started with the currency. Unfortunately, they don’t give you any kind of refund if you do not make a profit.
The Dogecoin is really just a way to advertise someone else’s dogecoin website. Even worse, some scammers will do these kinds of promotions for free in order to attract new customers. The most important thing to do is NOT to fall for these kinds of promotions.
Scammers will take your money and leave you with nothing. If you’re looking for an easy way to make money online, dogecoin might be a good choice. You can also purchase dogecoin from an exchange and then buy them as they rise in value.
Just because the scammers are clever does not mean that you should trust them. They may claim to give you free accounts and it is easy to make a lot of money fast, but you should really check out the sources of these claims. Some of these claims are totally untrue and just trying to make money off of you.
You can protect yourself by being careful when you’re joining chat rooms and forums and that way you can avoid becoming a victim of the scam. Once you’ve gotten into this scam, you have to figure out what the scammer is up to and go after them. Make sure that you learn as much as you can about the scammers and also make sure that you protect yourself as much as possible.
If you can help it, get a membership to a forum or blog where scammers hang out. If you have a few spare dollars to invest in dogecoin, then consider it.