Dogecoin has quickly become a fan-favorite cryptocurrency. If you’re looking to buy dogecoin, here’s what you need to know.
While it was started as a joke, Dogecoin is today the 10th biggest cryptocurrency with a market cap of $29 billion. People all around the world have been looking to get in on the Bitcoin competitor’s action ever since Elon Musk endorsed Dogecoin.
But, how on earth do you buy Dogecoin? And what’s the best way to buy Dogecoin?
Well, fear not. If you’re an aspiring cryptocurrency magnate looking to start Dogecoin trading, look no further than this quick guide on how to buy Dogecoin.
Let’s head to the moon!
Why Buy Dogecoin?
Crypto can be confusing: you’ve heard all the Elon Musk Bitcoin stuff and you’re asking yourself, ‘What does Dogecoin trading offer me?’ as you try to make sense of all this crypto stuff.
It’s a good question, and it has a good answer, too.
While Bitcoin and lots of other currencies have a finite amount that can ever be in circulation, Dogecoin has a completely unlimited supply. There’s no point at which new Dogecoins will stop entering circulation, meaning supply is ever-expanding, and price — theoretically — is always eventually doomed to trend downward.
So why does Dogecoin keep surging in the price? Because people keep buying it. So long as people keep buying it and generating hype for it, there’s no real limit to how high that price can go.
It also means people like, yes, Elon Musk have a lot of power because they can trigger buying frenzies by tweeting.
So, really, the answer to ‘Why buy Dogecoin?’ is ‘Because Elon Musk keeps talking about buying Dogecoin’.
Head to the Exchange
The big exchanges are where a huge amount of cryptocurrency trading happens, not just Dogecoin. There’s good reason for that: they’re safe, secure, and have been around for years at this point, which means traders can reasonably expect them to be around for years to come, too.
The biggest exchanges are the ones you might already have heard of Binance, Coinbase, Kraken, and so on. They might lack the frisson of a smaller exchange or some other method of trading, but they’re reliable. If you’re dipping your toes into the wild and woolly world of Dogecoin trading, opting to use a sizeable exchange is a pretty sound move.
How does it work? It’s pretty simple. Make an account as you would on any other website and you can start trading pretty much right away (you might have to verify some ID if you want to trade in large amounts, though).
And there you have it, your very own Dogecoin!
The Best Way to Buy Dogecoin
So there you have it, a brief intro on how to buy Dogecoin in 2021. We can’t tell you where the meme-coin will go from here, it depends on which celebrities decide to start tweeting about it.
But we can tell you this for certain, it’s gonna be a wild ride.
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