The Dogecoin virtual currency has been on a rollercoaster ride in recent months, but it’s not the only cryptocurrency to be seeing gains.
In the last year, there have been a number of other cryptocurrencies that have seen massive increases in value. Here are seven Dogecoin knockoffs you should know about if you’re interested in investing in digital currencies.
Dogecoin-clone Coinye West went live this week, even though it’s been the target of a lawsuit from Kanye West.
What does it do? It’s basically a bitcoin clone that can be mined by people using their home PCs and with coinye as the virtual currency. The developers originally planned to launch a digital currency called Coinye West this week, but they decided to launch the currency and call it coinye instead.
A member of the development team told us in an online interview The only thing we did is make the coin look cool and fun like Kanye West.
Coinye Coin launched on January 7th and is already priced at $0.20 per coin and it has a market capitalization of $1,410,000.
Australia coin works in pretty much the same way as Dogecoin, which means that you can mine the virtual currency by having your PC run software that processes complicated math problems.
This cryptocurrency isn’t just limited to Australia though. It’s a decentralized virtual currency, so anyone from any country can mine it on their computer.
What does it do? The developers have plans for an online global directory of stores where you can spend this virtual currency.
Auroracoin is a new Icelandic cryptocurrency that works in a similar way to Auroracoin, which means that you can mine this virtual currency.
Iceland is reportedly the first country where the second generation of Auroracoins will be distributed to its citizens for free so that they have a better chance of being used in Iceland.
Firstcoin is another cryptocurrency that’s based on bitcoin and was recently launched by a developer called Sunny with no pre-mine.
What does it do? This cryptocurrency has no transaction fees and it can be traded on exchanges like bitcoin, litecoin, peercoin and darkcoin.
Is FirstCoin the new DogeCoin? I couldn’t tell you since I haven’t been following this one too closely, but it is still worth mentioning along with the other seven cryptocurrencies.
Ripple is a new cryptocurrency that’s different from the others because it works as a payment network as well as a virtual currency that you can mine.