General

How to Buy Dogecoin | Will dogecoin reach $1

Will Dogecoin reach $1

We have seen a huge blow-up in the cryptocurrency market over the past couple of months. Several other cryptocurrencies such as Bitcoin, Dogecoin, Ethereum have given their record high, which has attracted so many people to invest in cryptocurrency, especially in Dogecoin which has given 6,438.75% YTD return. So in this article, we will have some analysis and talks about Dogecoin and how to buy Dogecoin and check Will the Dogecoin reach $1. So Let’s see first what is Dogecoin?

What is Dogecoin?

dogecoin

Dogecoin was a cryptocurrency that was originally formed in 2013 and was formed as a meme-based coin. The face in the Dogecoin was the Dog Shiba Inu that became popular as a Dog meme, but nobody thought that it will become so much popular as it is now.

However, Dogecoin gained so much popularity after Elon Musk supported Dogecoin and now it’s among the most popular cryptocurrency in the world. The price of the Dogecoin in April 2021 was $0.053655 or Rs 3.93 and by the time of writing the article, the price is around $0.302536 or Rs 22.10.

How to Buy Dogecoin?

However, with so much popularity Dogecoin isn’t much available in various popular crypto-wallets. If you are interested then you can buy cryptocurrency through other crypto-exchange platforms easily such as Wazix, Coinswitch Kuber, WazirX, CoinDCX, GEMINI.

Below are mentioned few step on how to buy dogecoin:

  • First of choosing a reputed crypto-exchange that has listed Dogecoin such as Wazix, Coinswitch, GEMINI, etc. Make sure you have done proper research about the platforms.
  • The next thing you have to download their application and create an account on the platform and verify your KYC details and for security purposes enable two-factor authentication.
  • The next thing you have to do is to add proper bank/UPI details so that you can deposit money in your crypto wallet.
  • Once the registration process is finished the crypto-exchange wallet will verify your details this process might take few days and after that, you can deposit money and buy Dogecoin or any other cryptocurrency.

Should You invest in Dogecoin or Will Dogecoin reach $1?

Nowadays there is so much hype about Dogecoin that has started after Elon Musk started tweeting about the Dogecoin and after that, it is consistently in an uptrend but if we check its fundamentals then we find that there no practical use of the coin. It is very difficult that the coin has a long-term benefit. One thing about Dogecoin is that there is no cap to the number of Dogecoins that can exist.

Like other cryptocurrencies, Dogecoin is so much volatile so if you invest in Dogecoin then you should be ready to bear that much loss also.

Will Dogecoin reach $1?

will-dogecoin-reach-$1

However, I am not a financial advisor you should do the proper research before investing in any cryptocurrency. There are 35 billion Dogecoin and each year 5 billion dogecoin are added by the miners so some people say that Dogecoin will lose interest in few years due to its unlimited supply.

But if we think on the positive side the global market cap is around $1.53T and Ethereum market cap is around 280 billion dollars and Dogecoin market cap is 39.593B and to reach $1 the market cap should be more than $135B. There are some chances that Dogecoin will reach $1.

Conclusion

Hope you have enjoyed the article on how to buy dogecoin and you all doubt would have been clear and your questions will be clear that will Dogecoin reach $1.

What’s your Reaction?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0

Related Articles

Leave a Reply

Back to top button