Opinion: The days of the Doges are over. You’ve invested in Dogecoin, what now?

This column does not necessarily reflect the opinion of the Benzinga editorial board.

Anyone familiar with traditional investing knows that penny stocks are full of frauds and scams.

Still, with the recent attention to cryptocurrencies due to the huge growth of Bitcoin and social media interest in Dogecoin, it’s worth taking a quick lesson on how we can define value. cryptocurrencies.

Doge and Bitcoin are easy ways to get into cryptoland, but don’t expect these assets not to move under your feet like a massive earthquake as the whole industry is still in its infancy.

I am the founder and CEO of a crypto company that helps Crypto users to HODL their assets, earn interest, and take out loans.

Nonetheless, while we appreciate the attention and growth that these moments bring, we also need to be careful to educate new users about the risks of assets with little or no value or utility.

See also: How to buy Dogecoin (DOGE)

Instead, if you are reading this because Dogecoin interested you in the investment potential of digital assets, let me help you understand how to determine value through use cases, teams, etc.

Believe me. There are coins in this industry that are just a Doge-worthy meme, without the same risk.

Why is Dogecoin so popular?

The simplest answer is that it has been around since 2014 and became MOON thanks to Elon Musk.

The CEO of Tesla has taken a liking to the coin for no particular reason.

It all started on January 28, when he tweeted a cover of “Dogue” magazine. Since he has consistently prompted investors of all types to rush into the room, this has coincided with the events of the Reddit Group Wall Street Bets’ Monumental overvoltage of Gamestop (GME).

People were listening more than ever to the tendency to invest directly on the Internet.

Dogecoin is no stranger to the benefactor of a trend, as it had just been the subject of a TikTok Challenge in July 2020.

Why shouldn’t we invest?

I can’t give anyone investment advice, but what I can say is that there are over 15,000 projects in crypto, so you need to do some homework before choosing what is worth investing in. being tracked, the time, money, and effort to invest in a piece like Doge being the third most talked about asset in our industry is too similar to the issues we had with illegitimate projects in 2017.

Jackson Palmer and Billy Markus created Dogecoin in late 2013 as a fork (copy) of Litecoin (itself a copy of Bitcoin) and an insider joke.

As an industry, there’s no need to draw attention to a meme anymore – we have real value that no one can match.

Do not worry; there are memes worth investing in!

I understand that one of the attractions of crypto is the punk-rock attitude mixed with the culture of trolling and memes.

I have been the recipient of some great myself. If the allure of holding a currency that not only makes you money but matches your sense of humor is something you prioritize, I’ve broken these groups down into Memes, Low cost, and Amusing projects.

Meme-value: I assure you that the Decentralized Finance (“DeFi”) segment of crypto has no shortage of quality projects that have solid fundamentals, great teams and real use cases behind them and can deliver the same level to you. of same value as Doge. Projects like UniSwap, Compound and AAVE all deliver value that goes beyond great branding.

Low cost parts: Dogecoin pumping fractions to a whole dollar is an attractive concept, and for many it seems much more possible to invest in with real weight compared to a Bitcoin that currently exceeds $ 50,000.

However, the idea of ​​a 100x growing crypto project is not exclusive to Doge (who has over 128 billion coins in circulation, or 16 Dogecoin for every human on the planet), nor so rare.

Cardano, Algorand, Polkadot, Binance Coin, and CEL tokens have all seen huge profits for investors over the past year.

New projects are developing at the moment with real potential to pump from nothing to a dollar and then to the moon.

Amusing: If your intention is to have fun and explore the exciting sub-plots in the larger world of crypto, then there are so many projects that can give you that experience while giving you the added value of utility and Resource.

Projects like My Business that deliver a high return on your paid cryptocurrencies every week, NFTs like NBA Top Shot that let you own great basketball moments, and apps like MyEtherWallet let you access great moments. hundreds of fun projects right from your mobile phone.

Crypto has come a long way from the early days of unnecessary coins that can be pumped and dumped on unsuspecting newcomers.

Doge’s days come and go, and there are real horses (no, unicorns) crossing the crypto landscape of 2021.

Today it is a place of exciting and dynamic projects that offer new financial independence and new ownership to investors themselves.

It’s a place that believes in responsibility, anonymity, and the occasional name of the asinine project.

But ultimately, if you got into cryptocurrency because of Dogecoin, I urge you to keep going because beyond the hype, there is a real revolution going on, and we would love you to be a part of it all. .

Through Alex Mashinsky, CEO and Founder of Celsius Network