Dogecoin : How to buy, sell, and invest
Table of Contents
What Is Dogecoin?
Where Can I Buy Dogecoin?
How Do I Buy It?
What’s The Future Of Dogecoin?
Final conclusion
With the popular hype of dogecoin everyone will like to Buy, sell, or invest in this coin just to make a huge profit but may do not know how.
In this article i will explan what dogecoin is, how to invest in dogecoin and the future of dogecoin will be included.
If you did not know, many coin have come into existence after bitcoin which are Etherium, bnb(binance coin), sol, and many more which falls under the category altcoin(alternative coin).
What is dogecoin
Dogecoin is an alternative cryptocurrency that started as a meme token back in 2013 following the meme coin shiba inu dog token and end up to be taken serious by the community under the influence of the richest man (Elon musk).
Elon musk tweet give a large audience to the coin giving hope to the community on twitter and coin investors put their mind in a price of 1$ at the end of the year.
In 2020 a viral hype came along on social media channels, tiktok, youtube, instagram and many more that tried to hype DOGE. the hype was based on Dogecoin would reach 1$, only if investors make each 25$ investment which at the end it would worth $10,000.
the hype was a classic pump and dump. right now doge coin have not near $1, and if it did, it would probably have a market cap of bitcoin or more.
So, where is Dogecoin’s price now?
According to CoinGecko.com market capitalization, it’s worth currently is about $0.070595 and it has a market capitalization of about $9,334,396,794.
In comparison, Bitcoin has a market cap of $832,167,825,180, or over 80X that of DOGE.
Dogecoin hit a all time high of $0.63 in May 2021. It was below $0.01 in January 2021, when it started its massive rise.
Where Can I Buy Dogecoin?
You can buy Doge coin in different exchanges but it is not as widely available on all exchanges like that of bitcoin, litecoin, Etherium.
Few exchanges that offers trading dogecoin on their platform is Binance, Uphold, Webull, Robinhood, Kraken, and Crypto.com.
Many traders be surprise and disapointed if their trading platforms such as Coinbase, Blockfi did not currently support doge.
Getting a full control over your coin is the safest thing for a wise trader to do, because an exchange is always a prime target for hackers and you do not want to get yourself involve.
So if you don’t already have a secure crypto wallet, i think you should check out here.
Hardware wallet cost a lot these days, and i don’t think you need one if you are not storing a large amount of crypto. but the altarnative wallet is a mobile app wallet or a browser wallet which requires you to keep you password safe or you key phase safe from anyone.
How Do you buy dogecoin?
There are many exchanges that offers to buy with bank transfer, credit card nd cryptocurrency. all you need to do is complete registration and login to your either binance, Uphold, Webull, Robinhood, Kraken, and Crypto.com.
1. Buying crypto with Credit card
if you want to use this option to buy bitcoin or dogecoin it is quite simple and also the easiest method for buying crypto. the fee that could be charged range from under 2% up to 3%, plus a flat fee.
2. Buying crypto with bank transfer
Buying crypto with bank transfer in any country tends to be the slowest and its sometimes fustrating, but lets not forget the fact that it is also safe way to buy crypto. just make sure you are sending money to the right account provided to you by the exchange. this method can take about 2 to 3 business days to complete transaction.
3. Buying crypto with Cryptocurrency
With this option, less fees to transaction is assured considering the type of network you are using to complete transaction, the fees that you will pay on buying or selling of crypto to crypto is often less than 1% but direct trading is a bit hard for beginners.
Once you have buy your doge coin on any exchange, make sure you move it to your wallet by adding your wallet address to withdraw.
What’s The Future Of Dogecoin?
There are still many internet hype that drive the price of doge coin up and down and this is unusual to a stable investment for traders. if the hype continues it is liable to go higher but if its otherwise this you should be expecting a massive dump in the coin
final conclusion
If you are a traders and do not like a very volatile market, dogecoin is not for you at the moment and ifd you are a gambler then you are good to go.
Note: cryptocurrency market is a very risky market and you are liable to loss all money invested.
