Since the Covid-19 pandemic, cryptocurrency has seen new heights. Every day, millions of dollars are made in Ethereum and Bitcoin. Dogecoin, one of these cryptocurrency’s that should not be missed is Dogecoin’s upward momentum has been impressive, with more than 300% in just seven trading days. Now, we will be talking about Dogecoin and how to buy it in India.
Dogecoin: What is it?
Dogecoin is a crypto similar to Bitcoin that was invented in 2013 by Jackson Palmer, and Billy Markus, two software engineers. Dogecoin is a faster and more entertaining version of Bitcoin. Dogecoin was created by the creators of Bitcoin. They also stated that Dogecoin is a faster and more fun version of Bitcoin.
This joke cryptocurrency gained an enormous following since then. Its current value, according to CoinGecko is over 34 billion. Its current value is currently $0.38 or Rs 28.53 per piece.
Dogecoin is a remarkable cryptocurrency because of its infinite nature. There are approximately 113 billion Dogecoin coins that have been mined. This means there is no limit to how many Dogecoin can be made. Bitcoin has an upper limit of 21 million coins.
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Future worries and an unexpected boom
Dogecoin is popular despite being a funny cryptocurrency. It is because people accumulate it for many reasons. Coinbase has listed the crypto. The endorsement by famous people such as Gene Simmons, Snoop dogg, and Elon Musk is another reason.
Another reason is the popularity of SatoshiStreetBets on Reddit. The members are creating satire cryptocurrency quite a lot.
It is a very risky investment. The bubble could burst and investors are worried that people will trade for profit. This causes volatility. Because there is an unlimited supply of stocks like these, the fear factor only grows as stock prices fall over time.
Is there a better way to buy Dogecoin in India?
Dogecoin doesn’t support India. Dogecoin does not have support for India. You will need to first convert your base currency to English using your debit/credit card.
There are many ways to buy crypto on these platforms. Each step will be explained by the team via their mobile app and on-line portals.