How To Buy Dogecoin And What Precaution You Should Take

How To Buy Dogecoin – Are you interested in investing in dogecoin? Here is everything you need to know about investing safely in Dogecoin. Dogecoin, emerged at the peak of the internet memes popularity around 2013, dogecoin has become one of the most valuable digital currencies by market capitalization. Within the first five months in 2021, it’s priced hike by 13,000% with many fervent supporters expecting it to land higher in due course.

How To Buy Dogecoin

Dogecoin upward trajectory can be linked to the fan following on Twitter and other social media platforms. The CEO of Tesla Elon musk also endorsed it on various occasions albeit with later clarifications that his statement was made in jest.

What Does It Mean To Own Dogecoin

Dogecoin is a cryptocurrency, as in the same as bitcoin and Ethereum. Dogecoin can be bought with a monetary value this value can fluctuate, depending on the dynamics of supply and demand, which means the asset can either drop or make profits just like any other commodity such A oil and gold.

As of the time of writing this article, there are over 129 billion Dogecoin in circulation. If you want to acquire a few tokens is as basic as paying an existing owner to transfer their possessions to you. This is the most fundamental part of cryptocurrency trading and is often referred to as peer-to-peer trading.

How To Buy Dogecoin

The simplest way to purchase dogecoin is by using a cryptocurrency exchange platform there are several traditional crypto trading platforms where you can buy Dogecoin easily. Here is how to buy your first dogecoin:

  • Get a Dogecoin wallet
  • Locate your dogecoin address (you will use this address to buy the dogecoin and place it in your wallet)
  • Log into your dogecoin exchange such as Binance & Bitpanda. Make a research about the dogecoin including the exchange rate of the currency, documents required for the verification process of buying dogecoin, and the payment methods.
  • Buy dogecoin from the selected platform, with your preferred payment option.
  • Withdraw the dogecoin whenever needed

Securing Your Dogecoin On Mobile

You can store your cryptocurrency on an Android device with apps such as Trust wallet or dogecoin wallet. However, with a mobile wallet, you will also have to account for the possibility of misplacing your wallet or it will end up in the hands of malicious individual. To remedy this set a secure password, enable a two factor verification and back up your wallets private key on various level.

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