Cryptocurrency is an encrypted digital asset. It doesn’t have any physical form and only exists in the electronic network as data. Exchange via cryptocurrency is carried out much as an email exchange, that is why processing time of operations is short in comparison with banks, commissions are minimal and there is no mediators. The world’s first cryptocurrency was Bitcoin — its network was launched in 2009 and is driven by mining of coins. Transactions in the BTC network are happening on the peer-to-peer principle, which means that funds are transferred directly from one client to another, without involvement of third parties and supervisory authorities such as banks, government etc. Bitcoin cryptocurrency operates on blockchain technology, which makes it fundamentally different from all electronic currencies and payment systems created before.
Concepts such as blockchain and cryptocurrencies slowly but surely began to win their position in modern world. In over a decade as a result of the launch of different blockchain-projects a lot of other cryptocurrencies joined Bitcoin. One of such altcoins is Dogecoin. It was made by an American software engineer Billy Markus and named after the popular internet meme “Doge”. The aim of its creator was to launch a fun and close to the broad population digital coin and to differentiate it from BTC with its doubtful reputation. Dogecoin is based on Litecoin and in contrast to other digital currencies, it had a quick initial coin production schedule.
- Sign up on the Quickex website. In order to be registrated every user has to provide an email address.
- Cryptocurrencies supported by the platform are listed at the foot of the page. Find the title “Popular exchanges” and make a selection by clicking on the “DOGE to BTC” button.
- Then you will get on the page of exchange. In the box you will find a space for amount input. Type in the quantity of dogecoins you decided to swap and push the button “Exchange”.
- Turn your attention to the order details. Verify data carefully, confirm the quantity of coins and ensure the other conditions are appropriate for you. Insert the two of your wallet addresses (DOGE and BTC) in the text fields.
- Here the process of exchanging begins. It is comprised of three stages, namely:
- Reassurance. The service starts to exchange DOGE to BTC when validation in the blockchain is received.
- The exchange itself. It is usually done by Quickex in around 12 minutes, but it may vary in the range of 5 to 30 minutes.
- Now the service dispatches funds to your BTC wallet, you should review it when the transaction is finished.
Congratulations! The process has been concluded, now pull up your destination wallet. Don’t forget that sometimes it may need further confirmation to show money that you received. Give it time, your money will soon be displayed.