A lot of investors are wondering what exactly renDOGE is. Is it a pretender to the meme crypto crown? Is it a new form of Dogecoin? This renDOGE vs Dogecoin (DOGE) comparison explains all of the differences.
What’s the difference between renDOGE and Dogecoin (DOGE)?
renDOGE is an exact representation of Dogecoin on the Ethereum blockchain. Enabled by the Ren Project, renDOGE lets investors trade DOGE on decentralized exchanges. This allows reDOGE owners to trade independently, without aiding big businesses, and also anonymously.
Most people shouldn’t need to worry about utilizing renDOGE. Many that do choose to trade renDOGE make the decision based purely on principle; investing via centralized exchanges can fund large corporations, which is the antithesis of what many cryptocurrency investors want. Keeping currency decentralized, independent, and anonymous is arguably the very reason for crypto’s existence.
Everyone that doesn’t really care about that side of things can safely stick with Dogecoin. For anyone that doesn’t wish to aid established systems and businesses, however, switching to renDOGE is the way to go. Of course, it’s worth noting that users may also need to switch to using decentralized apps. This could require learning a new UI and/or transferring funds, but that’s probably a small price to pay for those inclined.
DOGE — and, by extension, renDOGE — has been back on the up and up recently. Not long ago Dogecoin took a tumble due to Tesla CEO Elon Musk’s appearance on Saturday Night Live. While hosting SNL, Musk made a disparaging DOGE joke that made the market value tank.
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