Sick of Virtual Currency Bitcoin? Meet Dogecoin

But it trades for far less than more-established bitcoin

   

Sick of Virtual Currency Bitcoin? Meet Dogecoin

If virtual currency is your thing, and Bitcoin is getting just too respectable for your tastes, you now have a new option: dogecoin.

dogecoin Sick of Virtual Currency Bitcoin? Meet Dogecoin
Source: Dogecoin.com

The new virtual currency was apparently launched as a prank, but has begun to attract followers. There is even Dogemarket, a Reddit community dedicated to trading dogecoin, TheVerge notes.

Bitcoins185 Sick of Virtual Currency Bitcoin? Meet Dogecoin
EU Banking Authority Speaks Out Against Bitcoin

While dogecoin may finally be getting some notice, it isn’t nearly as valuable as virtual currency rival bitcoin, whose value has swung widely lately. Dogecoin currently trades at $0.00023. By contrast bitcoins are trading at over $700.

Still, the dogecoin movement may be growing with websites like Dogecoin.org and an official web home looking to persuade more online users to try the virtual currency and bitcoin alternative.

While dogecoin is just beginning its rise, virtual currency bitcoin is facing opposition from some regulators. China’s central bank recently ruled that bitcoin currency doesn’t have the same legal status as other currencies and forbade Chinese banks from trading in the virtual currency, sending its value tumbling.


Article printed from InvestorPlace Media, http://investorplace.com/2013/12/sick-virtual-currency-bitcoin-meet-dogecoin/.

©2014 InvestorPlace Media, LLC

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