5 Reasons to Buy Dogecoin in India
- It has a market capitalization of more than $35 billion.
- Dogecoin is a P2P cryptocurrency with faster payments and low transaction fees.
- It has a dedicated community of 300,000+ members.
- It is used as a way to tip the Dogecoin Reddit community.
- The mining of Dogecoin (Doge) takes less computing power compared to popular cryptocurrency, Bitcoin.
What is Dogecoin?
Dogecoin (Doge), also known as meme coin, was launched in 2013 with the image of a Shiba Inu dog.
The cryptocurrency was forked from Litecoin in 2013 by two engineers that visioned it as a fun and instant mode of payment. It is also regarded as an open-source cryptocurrency that gained a lot of attention from Elon Musk. It is an ‘inflationary’ coin – there is no cap on the number of Dogecoins in existence. The block addition is pretty fast, and it takes only 1 minute to add a block on its blockchain.
3 Things to know while Investing in Dogecoin (doge)
- The block addition takes comparably less time with fast transactions making it a perfect buy.
- It works on the Proof-of-Work consensus algorithm.
- The community of Dogecoin is a lot active in donating to noble causes.
Dogecoin could be bought directly through Peer to Peer (P2P) trade. There is also an option for buying cryptocurrency from decentralized exchanges or from someone who holds dogecoins. However, decentralized exchanges are complex to understand, and it would be a worrisome task to find a trustworthy seller who can provide Dogecoin (Doge). The reason why this is only chosen by pro traders.
If you are new to cryptocurrency, you might want to take the simplified route and Download CoinSwitch Kuber!
You can buy Dogecoin in just 4 steps on CoinSwitch Kuber:
- Open CoinSwitch Kuber, click on the Market tab from the bottom navigation, and select Dogecoin.
- Click on the ‘Buy’ button.
- Enter the amount that you would like to buy Dogecoin for, say ₹100, and click on the ‘Preview Buy button
- Check all the details of your order and proceed by clicking ‘Buy.’
Congratulations, you just bought your first Dogecoin!
There is no specific price to purchase any cryptocurrency because of the changes and developments being done on a regular basis. The value may increase over a period of time and then there is only regret not buying at lower prices.
Instead, you can invest small amounts periodically and balance the opportunity and risk. Start investing in Dogecoin for as low as ₹100.
There is no available answer to invest in assets because the value increases over time. If you look for the opportunity to buy at lower prices, you may be missing the opportunity of gaining returns around this time. It’s always better to start investing from today.
You can start from small amounts and invest periodically. A better approach would be to invest a lump sum in Dogecoin (Doge) in dips, and average your portfolio for better returns.
Dogecoin is available on a variety of platforms, but it is the experience that matters. Just as some food delivery applications provide a one-click process, and some make it a 5-minute work to fill in all the details again.
The market is full of cryptocurrency apps that are too complex and can make your buying experience horrible; however, CoinSwitch Kuber allows you to buy cryptocurrencies easily and remove all the hassles.