Remember, every dog has the day, and in the cryptocurrency world, the luckiest dog here is dogecoin. So, everything from Mark Cuba to Elon Musk has expressed their eagerness for the real meme cryptocurrency, putting into the meteoritic elevation of around 7,000% or more over 2021 first half. It is raise is not coming slowly in 2022.
Why did the richest man of Elon Musk push for hordes of digital Twitter followers to purchase dogecoin on various occasions? Is it best to invest in the memetic and funny Japanese dog? So let us look into it and study how to buy this famous cryptocurrency?
While the price of this currency has been extremely volatile, with the massive dip in 2021 mid, there was a dip from its peak of 70% or more/coin. Dogecoin still continues to remain on top of cryptocurrency options. If you are thinking about purchasing this currency, here you need to stay and learn.
All about DOGECOIN for Beginners
So, suppose you are new to this digital currency world, specifically dogecoin. Here you will learn about the difference among the:
- Dogecoin current fame
- Dogecoins intrinsic or inherent value
Are you beginning with this digital currency trading? If yes, then you will learn that meme dog cryptocurrency is a great chance to sharpen your trading talent
Want to know about the richest man: Elon Musk’s and its Affair with famous dogecoin dogecoin
Elon Musk is a unique character similar to your favourite Avenger characters Iron Man. He can earn more from the cryptocurrency and has become the inches man of this country, South Africa. Musk truly started his trajectory into a billionaire class soon after founding X.com. Also, alter devilish Paypal, the world’s biggest payment processor serving about or more than 3000 M merchants.
Making upon PayPal, Elon then concentrates on Neuralink and Space X.
Each one shows cutting-edge tech, bringing Elon a net amount of 200 dollars billion or more. So what does it mean? this made Musk the 2nd or 1sat riches man, relying on the Amazon and Tesla Stock
Here you must be thinking, why are we focusing on him rather than concentration on dogecoin? DO you know he might be having a notable amount of Dogecoin?
Elon is not a stranger to utilizing social media power. In fact, Securities Exchange commissions or SEC fined him around 20$ M in 2018. WHY! It was doe misleading Shareholders of Tesla with his tweet.
When you talk about Dogecoin, there are few markets that he might be in control of a notable amount of dogecoin, like his tweet from 15th Feb 2021
How to buy Dogecoin?
So for the beginner, this guide is a must to learn how to buy dogecoin and become a billionaire. So are you ready?
1. Plan how much you would like to Invest?
Indeed you have heard many stories about the individual who have invested in dogecoin, and now they are a billionaire. But remember, invest with great care. Cryptocurrencies such as bitcoin and dogecoin are risky investments. The dogecoin is volatile due to its unlimited supply.
How does it work: Whether this cryptocurrency price remains steady or rises, do investors need to purchase more coins? If not, the DOGE supply raises insanity and reduces the coin values in circulation.
So, how much to invest in the currency? It all depends on your:
- risk tolerance
- investment portfolio
- financial situation
Remember, experts never suggest you invest more than you can lose.
2. Work on Crypto Exchange
Users have to open an account with the crypto exchange to buy dogecoins. Where sellers and buyers assemble to exchange dogecoin for dollars and following are the famous exchange:
- Binance. US
They are easy to use, simple, and demand higher fees, and modern traders mean with best fees. You can also buy cryptocurrency via some beginner-friendly applications such as Robinhood.
3. Choose the payment option.
So before users start cryptocurrencies trading, they need to deposit some amount in their brokerage and exchange account. Usually, an exchange will permit you to deposit an amount from your saving or checking account. Some of them also accept PayPal and wire transfers
4. Place Order for Dogecoin
So once you have followed all the steps and the money is in the account. Users can buy dogecoins. On the purchase platform or exchange trading platform, search for this currency or just enter its ticker icons: DOGE”.
After that, pick the trade type and put the amount in dollars, especially the number of Dogecoin you like to purchase.
5. Choose the Storage
Once you purchase Dogecoin, it is in your brokerages or exchanges crypto wallet by default. It is because they are linked to the internet. Some investors like to withdraw the currency they buy from their brokerage and exchange and secure it in different wallets.