When cryptocurrency is changing the concept of finance, Dogecoin is making noise as one of the leading altcoins. Read on to know how Dogecoin can be a viable investment option and how you can buy it on ZebPay.
Cryptocurrency is changing the face of money. Without a doubt, digital currency is the future, and there is a high chance that physical wallets would be rendered useless. And, taking the crypto world by storm is Dogecoin.
What is Dogecoin?
Dogecoin is an open-source, peer-to-peer digital currency with a fun brand picture of a Shiba Inu, a Japanese dog breed, and a viral meme. What started as a ‘joke’ cryptocurrency by Billy Marcus, an Oregon programmer, Dogecoin is already making waves in the crypto universe. It has become the predecessor for various other ‘meme coins.’
Created in 2013, Dogecoin shot into prominence in 2020 due to endorsements from celebrities and entrepreneurs like Tesla CEO Elon Musk, rapper Snoop Dogg, and rock star Gene Simmons. The altcoin is increasingly gaining popularity, with Dogecoin sub-Reddit at 2.2 million “subscribers” on its page. Following Elon Musk’s tweet – ‘Doge barking at the moon’, numerous people bought plenty of Dogecoins (DOGE), and the Dogecoin price skyrocketed. Although Dogecoin is nowhere near the scale of Bitcoin, according to CoinMarketCap, its market cap has risen to $47 billion from more than $1 billion in January 20213. In addition, Dogecoin gave over 8000 percent returns between January and April 2021.
One of the critical reasons for the price increase can be attributed to the growing value of other cryptocurrencies such as Bitcoin and Ethereum, which have boosted Dogecoin’s value. Another reason propelling Dogecoin is that it has no upper limit, meaning there are, in fact, more than 100 billion Dogecoins in circulation.
How to invest in Dogecoin?
Dogecoin is great for crypto beginners, and investors looking to get into the crypto game might want to consider Dogecoin as a great option. Holding Dogecoin for a prolonged period can give investors insights into what crypto investing is all about. No matter how many viral stories you have heard of people becoming millionaires by investing trivial amounts in DOGE, it is advisable to invest with caution. When deciding how much to invest, people should consider their entire financial situation, investment portfolio, and risk tolerance. Experts advise not to invest more than you are willing to lose with cryptocurrencies in general.
To purchase Dogecoin, you will need to open an account with a cryptocurrency exchange in India, where buyers and sellers exchange crypto for money. While Dogecoin has become much more popular recently, it is not universally available on all crypto exchanges. Therefore, you should ensure that any exchange you are considering has DOGE available for purchase. In India, accounts can be opened on any of the Dogecoin-supporting crypto exchanges, such as ZebPay.
How to buy Dogecoin at ZebPay?
Crypto investors can buy Dogecoin using UPI or RTGS,NEFT, IMPS transfer, bank transfer from the existing platforms. Any cryptocurrency wallet or online platform can be used to buy Dogecoin. These platforms require a PAN Card and a Know Your Customer (KYC) process, verifying the customer’s information. The current DOGE price in India is ₹20.265, although it keeps changing.
If you have decided to trade some of their money for the opportunity to be part of a revolution, you can visit ZebPay and invest at the level they are comfortable with. With ZebPay, it’s fast, easy, and secure. Follow the below mentioned process:
- First, create an account. You would need to register with your phone number and submit your KYC documents.
- Second, make a deposit. You can add Dogecoin to the ZebPay wallet or link your bank account to buy Dogecoin for the first time.
- You are all set to start trading.
Cryptocurrency is indeed the future. However, before investing in Dogecoin, finding the right cryptocurrency exchange in India is advisable while exercising caution. That said, to start your crypto journey, getting a small share of Dogecoin along with other cryptocurrencies in a well-diversified portfolio is the right move.