{"id":14904,"date":"2022-08-29T10:00:00","date_gmt":"2022-08-29T10:00:00","guid":{"rendered":"https:\/\/worldscholarshipforum.com\/wealth\/?p=14904"},"modified":"2023-07-20T13:52:35","modified_gmt":"2023-07-20T13:52:35","slug":"want-to-buy-dogecoin","status":"publish","type":"post","link":"https:\/\/kiiky.com\/wealth\/want-to-buy-dogecoin\/","title":{"rendered":"Want To Buy Dogecoin? What To Know Before You Purchase","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"

Dogecoin has been making news in recent months due to its incredible returns. <\/p>\n

As of this writing, the price of Dogecoin has increased by approximately 7,000 % since the beginning of the year. It has increased by more than 15,500% in the last year. <\/p>\n

Despite the fact that it has been around since 2013, it has only recently gained popularity. Many retail investors are getting on the cryptocurrency bandwagon, and some credit Elon Musk for driving up the price of Dogecoin by tweeting about it.<\/p>\n

Cryptocurrencies have made a lot of noise in the investment world in recent months because they are the hot new thing, and some investors might make a lot of money.<\/p>\n

Check Out: How To Buy Bitcoin In Canada | Best Profitable Ways In 2022<\/a><\/strong><\/p>\n

WHAT IS DOGECOIN?<\/strong><\/span><\/h2>\n

Dogecoin was created as a joke in the first generation of cryptocurrency. Literally. <\/p>\n

The coin was launched in 2013 and has since risen to become one of the top five most valuable cryptocurrencies in terms of market capitalization. <\/p>\n

According to Dogecoin’s designers, the coin was created to provide some levity to the crypto sector, which at the time was awash in blockchain jargon. <\/p>\n

They claim that Dogecoin will serve as a stepping stone for folks who are new to bitcoin to learn about different currencies. DOGE’s meme status swiftly gained popularity among internet users, and the video quickly went global. <\/p>\n

DOGE is, however, nothing more than a Bitcoin hard fork, despite its present popularity and worth. It’s just a copy-paste of Bitcoin’s code with a few tweaks. The coin was manufactured in three hours, according to reports.<\/p>\n

This hasn’t stopped the coin from exploding in value, especially this year. The coin is mostly supported by celebrity conjecture and excitement, as well as an active online community. <\/p>\n

Dogecoin is now the world’s fourth largest cryptocurrency by market capitalization, according to CoinMarketCap.<\/p>\n

IS DOGECOIN WORTH INVESTING<\/strong><\/span><\/h2>\n

Your desire to invest in an unstable, inflationary coin with no objective other than to gain in value determines whether or not you should buy Dogecoin. <\/p>\n

It’s reasonable that, following the recent price increase, you’re worried about missing out. Dogecoin appears to be a completely profitable investment based on current numbers. <\/p>\n

However, because this is a cryptocurrency, and one that is quite volatile, you should avoid making any hasty decisions. Dogecoin has shown to be a worthwhile investment so far. <\/p>\n

If the price continues to rise, buying now could save you money in the long term. However, because it is an unpredictably valuable asset, there is a fifty-fifty probability that it will perform poorly.<\/p>\n

It is advised that you do not follow the crowd’s lead. Take your time and carefully examine the coin. If it is worthwhile to invest in, the price will continue to rise. <\/p>\n

Otherwise, you risk losing a significant amount of money if you succumb to what others are doing. <\/p>\n

The truth is that no one knows when the optimum time is to acquire any cryptocurrency; the best you can do is monitor the market because the price may be high at times, but there is a good possibility it will fall.<\/p>\n

WILL DOGECOIN CRASH ANYTIME SOON<\/strong><\/span><\/h2>\n

Dogecoin is expected to be worth 42 cents by the end of 2022, a 60 percent rise from its current value, according to a panel of cryptocurrency specialists. <\/p>\n

The panel polled 42 crypto specialists on what they predict to happen to the price of dogecoin in the future years, with 80% of them calling the cryptocurrency a bubble. <\/p>\n

The majority of people who believe dogecoin is a bubble (55%) believe it will burst this year, while 42 percent believe it will burst in 2022 and 3% in 2023. <\/p>\n

The panel average predicts that dogecoin will be worth 42 cents by the end of 2022, $1.21 by 2025, and $3.60 by 2030, while experts are split, with some believing the meme-based cryptocurrency will crash to zero shortly, and others predicting a massive rise to $10 per dogecoin.<\/p>\n

Read Also: Is Sweatcoin Legit? Is Sweatcoin Safe to Invest in in 2022?<\/a><\/strong><\/p>\n

CAN DOGECOIN BE BOUGHT DIRECTLY? \/ WHAT IS THE MOST EFFECTIVE WAY TO PURCHASE DOGECOIN?<\/strong><\/span><\/h2>\n

DOGE can be obtained in a number of ways. Any cryptocurrency exchange can sell Dogecoin to you directly. <\/p>\n

Many people, however, believe that purchasing it through a reputable global exchange is the most convenient option. <\/p>\n

To buy Dogecoin, you must first set up an account with a DOGE-accepting cryptocurrency exchange. Dogecoin is accepted by Coinbase, eToro, Robinhood, Gemini, and Webull. <\/p>\n

You can get DOGE by placing a buy order after both your wallet and your exchange account have been funded. Below are a detailed explanation of the steps to take in buying Dogecoin;<\/p>\n

1. Decide how much money you want to put into Dogecoin<\/strong>:<\/span><\/h3>\n

While there have been viral stories of people who spent small amounts of money in DOGE and became billionaires, investors should proceed with caution. <\/p>\n

Cryptocurrencies are extremely dangerous investments, and Dogecoin is particularly volatile due to its infinite supply. <\/p>\n

Consider your total financial condition, investment portfolio, and risk tolerance before selecting how much to invest. <\/p>\n

Experts advise against investing more than you can afford to lose in cryptocurrency in general.<\/p>\n

2. Select a Cryptocurrency Trading Platform:<\/strong><\/span><\/h3>\n

To acquire Dogecoin, you’ll need to register with a cryptocurrency exchange, which is a place where buyers and sellers meet to trade cryptocurrencies for dollars. <\/p>\n

Coinbase, Binance.US, and Kraken are all popular exchanges that offer a simple, easy-to-use interface with higher costs as well as a more advanced trader platform with lower fees.<\/p>\n

You can also buy cryptocurrency using beginner-friendly financial applications like Robinhood, but keep in mind that you might not be able to transfer your funds out of the app. <\/p>\n

To secure their currencies from hackers, some investors prefer to shift their crypto into different crypto wallets. <\/p>\n

While Dogecoin has recently grown in popularity, it is not yet available on all cryptocurrency exchanges. If you want to buy DOGE, be sure it’s available on any exchange you’re considering.<\/p>\n

3. Choose a Payment Method:<\/strong><\/span><\/h3>\n

You must fund your exchange or brokerage account before you can start trading cryptocurrencies. The exchangers will usually allow you to deposit money from a checking or savings account. <\/p>\n

Wire payments and PayPal transfers are accepted by some.<\/p>\n

You may buy Dogecoin and other cryptocurrencies using a credit card on a few exchanges. <\/p>\n

Keep in mind that if you use a credit card to finance your crypto purchases, your credit card company will treat the money as a cash advance, resulting in additional costs and a higher APR. <\/p>\n

This might make crypto even more expensive and risky to invest in. As a result, most experts advise individuals to avoid purchasing cryptocurrency in this manner.<\/p>\n

4. Place Your Dogecoin Order:<\/strong><\/span><\/h3>\n

You can buy Dogecoin after your funds are in your account. Search for Dogecoin or enter its ticker symbol: DOGE on the exchange’s trading or purchase interface. <\/p>\n

Then select your trade type and enter either a monetary value or the number of Dogecoins you want to purchase.<\/p>\n

When you place your order, it should be processed right away. Dogecoin, like other cryptocurrencies, has no trading hours; you can buy and sell it at any time, seven days a week.<\/p>\n

5. Take into account your storage options:<\/strong><\/span><\/h3>\n

When you acquire Dogecoin, it is automatically stored in the crypto wallet of your exchange or brokerage. <\/p>\n

Some investors prefer to withdraw their crypto from their exchange or brokerage and put it in another wallet because these are often connected to the internet.<\/p>\n

Outside of your exchange, you can store your Dogecoin in a hot wallet or a cold wallet. <\/p>\n

Hot wallets are digital and linked to the web, but cold wallets are actual hardware that may be disconnected from the internet, making them less vulnerable to hackers. <\/p>\n

Cold wallets, on the other hand, are often more expensive than hot wallets, and you risk losing access to your cryptocurrency if you misplace or forget the code to access your cold wallet.<\/p>\n

WHERE CAN DOGECOIN BE BOUGHT?<\/strong><\/span><\/h2>\n

There are various cryptocurrency exchanges that offer DOGE, which may be acquired by registering and financing an account on one of them. Here are a few sorts:<\/p>\n

1. Kraken:<\/strong><\/span><\/h3>\n
\"\"<\/figure>\n

If you already have an account with Kraken, you can fund it using Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), Qtum (QTUM), Cardano (ADA), Zcash (ZEC), and Monero (XMR). <\/p>\n

By clicking the “Acquire Crypto” option after you’ve financed your account, you can buy DOGE in under 10 minutes.<\/p>\n

2. Binance:<\/strong><\/span><\/h3>\n
\"\"<\/figure>\n

Depending on your country, Binance allows you to purchase cryptocurrency using a bank transfer, credit or debit card, peer-to-peer (P2P) trading, and third parties. <\/p>\n

Major currencies such the US dollar, the British pound, the euro, the Canadian dollar, the Australian dollar, the Japanese yen, and a variety of other currencies are available as funding alternatives for the exchange. <\/p>\n

Binance accepts a variety of cryptocurrencies, including Bitcoin, Ethereum, and its own Binance Coin, to finance your account.<\/p>\n

3. Coinbase:<\/strong><\/span><\/h3>\n
\"\"<\/figure>\n

Dogecoin enthusiasts in all countries with Buy\/Sell capabilities can now buy DOGE on both Coinbase.com and Coinbase Pro, Coinbase’s more advanced trading interface.<\/p>\n

4. eToro:<\/strong><\/span><\/h3>\n
\"\"<\/figure>\n

After you’ve registered, go to eToro’s Doge website and select the “Trade” button. Choose the amount of Doge you want to buy and complete the transaction.<\/p>\n

5. Bitpanda:<\/strong><\/span><\/h3>\n
\"\"<\/figure>\n

On the desktop version, click the “Trade” button, then “Buy” then “Dogecoin” from the drop-down menu. <\/p>\n

Go to Portfolios on the mobile app’s homepage, touch the “Buy” button, and choose Dogecoin Wallet. Choose your funding wallet and confirm payment on the next screen.<\/p>\n

6. Robinhood:<\/strong><\/span><\/h3>\n
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To purchase DOGE online, go to:<\/p>\n