The current exchange rate of Dogecoin is $ 0.238015. Here are the steps for “How to Buy Dogecoin”
Dogecoin, also known as People’s Currency, is a controversial cryptocurrency that was created as a parody of Bitcoin. However, Dogecoin is now worth money. Like other cryptos, Dogecoin can serve as a way to transfer money between people, either as payment for goods or services, or simply to send cash. It works on a decentralized network of computers using a distributed ledger called a blockchain.
How To Buy Dogecoin: Some Facts About Dogecoin
- Dogecoin was developed by software engineers Billy Markus and Jackson Palmer.
- It was introduced in December 2013 and shows the face of the Shiba Inu dog from the “Doge” meme as the logo and namesake.
- Dogecoin.com advertises the currency as “fun and friendly internet currency” and refers to its origins as a “joke”.
- The first major theft of Dogecoin occurred on December 25, 2013 when millions of coins were stolen during a hack on the online cryptocurrency wallet platform Dogewallet.
- In January 2014, the trading volume of Dogecoin briefly exceeded that of Bitcoin and all other cryptocurrencies combined.
- Co-founder Jackson Palmer left the cryptocurrency community in 2015 with no plans to return.
- Dogecoin started with a supply limit of 100 billion coins and in 2015 the 100 billionth Dogecoin was mined, with an additional 5 billion coins being put into circulation every year.
Read: Dogecoin Stock Price And Forecast
How To Buy Dogecoin: The Easiest Way
Dogecoin can be obtained from several websites including online brokerages as well as online exchange websites. However, before making your first trade in Dogecoin, there are a few steps that you need to follow that are common to almost all crypto purchases. Here are the steps for “How to Buy Dogecoin”:
- Opt for a cryptocurrency exchange
- Create your account with the exchange
- Confirm your identification
- Choose a payment option and fund your wallet
- Make a purchase
- Save your purchased Dogecoin
Opt for a cryptocurrency exchange
You can buy Dogecoin from multiple crypto exchanges, but be aware of the risks and rewards. Hence, it is of the utmost importance to choose a crypto exchange. You should also make sure that the exchange is equipped with a built-in wallet. In the wallet, add the amount for the trade. Otherwise, you will have to use an external wallet to trade Dogecoin.
Create An account with the stock exchange
The next step would be to register with the crypto exchange. To register, the exchange needs your personal data such as your name, telephone number, e-mail and bank details.
Confirm your identification
Verifying your ID is the next step after you’ve created your account. To verify identity, make sure you have your identification documents ready before you begin. In most cases, acceptable ID will include a passport or driver’s license.
Choose the payment option and fund your wallet
Once your ID is verified, your account will be activated. The account activation period depends on the exchange. When your account is activated, you can deposit fiat currency. It can be the US dollar or any of the other fiat currencies that they accept. There are several methods to fund your accounts, such as: B. Bank transfers from a checking or savings account, PayPal, wire transfers, a cryptocurrency wallet or even a credit or debit card.
Make your first purchase
Now that you’ve funded your wallet, trading will be next. You can buy Dogecoin depending on your wallet balance.
Storage of Dogecoin
After your Dogecoin purchase has been processed, you will need to save your cryptocurrency. While some platforms save it for you, some people choose to save their investments themselves to reduce the chance of losing their crypto to a hack.
Where can you buy DogeCoin?
Dogecoin is available on Coin base, eToro, Robinhood, Twins, SoFi, Binance.US and Webul. Each platform has its own fee for each transaction.
How to buy Dogecoin: forecast for 2021
Forecast for the end of 2021