Dogecoin Mexico: Discover how this altcoin works and how to invest in it in Mexico

Dogecoin (DOGE) is a cryptocurrency that was born in 2013, more out of comic inspiration than out of a particularly strong need to fulfill a case. 

The origin of Dogecoin lies in the meme “Doge” which shows the image of a Shiba Inu, a Japanese dog breed, sitting with its paws together. Although initially a joke, Dogecoin has gained popularity and become an interesting part of the cryptocurrency world.

With the help of leading trading platforms, such as Libertex, you can access the investment opportunities offered by these assets. Continue reading to understand how this altcoin works and which investment opportunities it offers to successfully navigate the Dogecoin landscape in México.

How does Dogecoin work?

Before diving into the Dogecoin landscape in Mexico, you need to understand what this cryptocurrency is and how it works.

Dogecoin uses blockchain technology, just like other cryptocurrencies like Bitcoin. Its network of decentralized nodes validates transactions and maintains the integrity of the system.

Despite not having many notable features that may suggest it could become a dominant currency or store for value worldwide, Dogecoin can serve as a form of currency for tips or online payments due to its lower unit price as compared with other cryptocurrencies.

Dogecoin, one of the most popular altcoins

Altcoins, or alternative currencies, are cryptocurrencies that are not Bitcoin. Although they share similar principles, they are based on different blockchain platforms, with different characteristics.

There are more than ten thousand altcoins in the market, each with its own characteristics and specific use cases, and Dogecoin is one of the most popular ones.

Key features of Dogecoin

As one of the most popular altcoins in the market, this cryptocurrency stands as a viable instrument for investment for anyone interested. Yet, it’s necessary to consider the following key features unique to this altcoin before starting to invest:

• Unlimited supply: Unlike Bitcoin, Dogecoin does not have a maximum limit on its supply. Every day, 14 million more Dogecoins are mined, which impacts its value due to inflation.
• Transactional use: DOGE is currently a popular option for small transactions due to its lower unit price. It can be useful for paying tips or for online payments, among other things.
• Active community: The Dogecoin community is enthusiastic and shows active participation, which has contributed to its success.

Dogecoin Mexico: Investing through CFDs

Did you know that it is possible to operate with Dogecoin without actually holding the cryptocurrency? The main difference between buying Dogecoin and trading Dogecoin CFDs (Contracts for Difference) lies in the nature of the investment.

By opting to trade Dogecoin CFDs, you do not own DOGE, but instead, you trade a financial derivative that moves according to DOGE price movements, which offers

flexibility by allowing you to profit from both upward and downward movements in the price of the altcoin.

Learning about Dogecoin and how it works is key to starting to invest in CFDs or any related transaction. It’s equally important to choose a recognized and reliable platform, like the Libertex online broker, and keep your access codes in a safe place.

In short, buying Dogecoin implies direct ownership of the cryptocurrency, while trading CFDs allows you to invest in its price movements without directly acquiring it.

Both options have their own benefits and risks, so consider your goals and risk tolerance before deciding.

Libertex, a market-leading and award-winning platform

During a ceremony held on April 19th at iFX Expo LATAM 2024, Libertex was recognized as the Best Broker LATAM by the Ultimate Fintech Awards.  These awards recognize the top brands in the fintech and online trading fields in Latin America.

Additionally, before the end of Q1 2024, Libertex was also recognized as the Best Broker with CFDs of the year, by the renowned international financial publication PAN Finance, after a rigorous evaluation process conducted by experienced editorial and research teams.

Libertex strives to provide an increasingly advantageous and rewarding experience for its client base. This multifaceted approach includes expanded CFDs offerings, with underlying assets such as cryptocurrencies, and it allows the building and maintaining of strong partnerships.

A different investment possibility

In sum, Dogecoin is a peculiar cryptocurrency with an interesting history. Although it’s not a traditional kind of investment, its active community and transactional use make it a relevant option in the crypto world.

Remember that Libertex offers CFDs with underlying assets such as cryptocurrencies and ETFs, among other instruments, that allow you to trade Dogecoin in México without the need for a specific wallet, as CFDs do not require direct ownership of the cryptocurrency.

If you want to explore investment options, Libertex is the most reliable and outstanding alternative to consider. For more information on the world of crypto investments, you can read Libertex’s crypto guide for beginners, where you will find all the information you need to know to explore different options to participate in this dynamic market.