In February 2021, Glauber Contessoto age 33, invested all of his savings in doge, which is known as meme coin that overflowed in value this year.
After about two months later, in April, he said that he became a doge millionaire on paper.
Now, Glauber Contessoto plans to go “all in” on different cryptocurrencies.
His subsequent choice is the Cardano blockchain and its native currency ADA, which embarked in the year 2017 and later became the third-largest cryptocurrency by market cap, after bitcoin and ethereum.
Although he holds no plans to sell his dogecoin, “I’m moving to start buying up as considerably Cardano as humanely potential with every bit of money I start driving from now on,” he says.
Contessoto prepares to wait until there is a drop in the Cardano price to begin funding, he says, only as he did with dogecoin.
However, many financial experts would advise against going all-in on one investment, particularly within the crypto area. Cryptocurrency can be an extremely difficult investment in the public, and professionals say altcoins can be more so.
“Risk can be calculated in a variety of different ways,” Meltem Demirors, CoinShares chief technique officer, yet told CNBC Make It. But “many of these assets are multi risky than bitcoin and ethereum.”
It’s possible to lose your entire investment regardless of how careful you are.
However, Contessoto is still bullish on both Cardano and dogecoin.
Since Contessoto accomplished by either, the cryptocurrency native to the Ethereum blockchain, earlier on, he views Cardano as the “next best bet,” he says. Proponents of Cardano, like Contessoto, see it as a competitor to Ethereum since its inventor, Charles Hoskinson, is also a co-founder of Ether.
Cardano vs. Ethereum
However, critics of Cardano say it has a long way to go before measuring up to Ethereum.
Ethereum is known for its smart contract capabilities, which power Defi, decentralized finance, apps, NFTs, or nonfungible tokens, among additional things.
Currently, Ethereum operates on a proof of work, or PoW, model, where miners must compete to solve complex puzzles to validate transactions. But soon, Ethereum intends to relocate to a proof of stake, or PoS, model, where individuals can mine or validate transactions according to how multiple coins they hold. Proponents of PoS say it uses less energy.
5 Fascinating Facts about Dogecoin You Need to Know
Everyone understands that Doge started as a joke, but surprisingly it is gaining a lot of traction these days. Considerable people argue whether it will be the following big thing in crypto or die youthful. In this article, we’ll discover some of the most fascinating and surprising facts about this fun crypto. Enjoy your read!
Dogecoin’s Designer Sold All His Doge
Billy Markus noted on Twitter that he’s no extended a part of the Doge Project and that he traded all the crypto he had in 2015 after obtaining laid off.
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Dogecoin Was Created in about 2 Hours
Billy Markus twittered this when a user asked him how to create the coin more working. He said that he created Dogecoin in 2 hours and didn’t believe anything.
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All-Time High Price and Market Cap
The most elevated price that Dogecoin has ever had is $0.74. The coin got that point on May 8, 2021. It hit its all-time high market cap on that day too: $93 Billion.
P.S. At the moment of writing, the market cap of Dogecoin is 43B which is about as much as Ebay’s.
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The “Dog” on Dogecoins Logo Is Shiba Inu
Shiba is a hunting dog breed. Interestingly is that after the release of Doge, multiple coins with dogs were launched. One of these dog-based meme coins is Corgi Token based on the popular Corgi breed of dogs. This coin is a “decentralized community-based cryptocurrency” on the Ethereum blockchain.
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The Dogecoin Community
Amongst all the cryptocurrencies Dogecoin has one of the biggest communities. Associates of this community truly consider in the auspicious future of Dogecoin and it isn’t surprising that the slogan of shibas is “To the Moon!”. They supply huge support to make their famous crypto more widespread.
For example, in the year 2014, the community expanded $55,000 for NASCAR driver Josh Wise where in return he wrapped his entire car with Dogecoin and Reddit alien prints.
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Celebrities Who Love Doge
Dogecoin attained popularity and has numerous fans among celebrities. The celebrity can be none other than Elon Musk. Who is called “Dogefather”. Musk plays a massive role in the elevation of Dogecoin and his Twitter shows price hikes in coming days.
