In the crypto world, Bitcoin is no longer the currency that is always in the limelight. Now there is a new name that comes in the center of attention, and that is Dogecoin. The funny part is the cryptocurrency which currently holds a capitalization of more than $5 billion was started all as a joke. It was started in 2013 and was created by Billy Markus and Jackson Palmer. The name of Dogecoin itself is taken from a popular internet meme which had a picture of one of these dogs with multicolored, comic sans (the font) text written in a kind of broken English.
Despite being started as a joke, it didn’t take much time for Dogecoin to develop strong popularity and gained a large online following. The original plan was to limit Dogecoin to 100 billion coins. However, later on, it was decided that there would be a limitless supply of it.
And ever since one of the world’s richest man, Elon Musk, tweeted about Dogecoin, the Cryptocurrency have touched a record. This gave another reason to people to get attracted towards it. And many are in search of the “Where to buy Dogecoin?’’. In this article, we are going to resolve your all problems.
Where To Buy Dogecoin?
To purchase Dogecoin, you need to set up an account with an exchange that supports it. Here are the three steps
Step 1. Search for and register an account to buy DOGE
Firstly, search for the exchange that lists DOGE in one or more currency pairings, and then sign up with your email id and password. Also, note that most of the exchangers also require your full name, contact information, and proof of ID before giving access to you.
Step 2. Deposit funds into your account
If your exchange accepts fiat currency, then you will be able to buy DOGE coin directly in US dollars. Whereas, the other way of acquiring it is through a cryptocurrency that’s listed in a pairing with DOGE, such as ETH or BTC, and later no trade it for Dogecoin.
Step 3. Buy DOGE
Lastly, you have to navigate to the section of the market on your chosen exchange, in order to find our desired DOGE pairing. Search for the section on buying DOGE, and provide the amount of the paired cryptocurrency that you want to spend or the amount of DOGE you want to buy. After that, review your transaction details that include the amount of DOGE you’re buying and the total cost of the purchase before completing the transaction.
That’s where to buy Dogecoin in a nutshell. However, it is important to consider some important key factors before purchasing it.
Key Factors Before Purchasing DOGECOIN
Whether it be DOGECOIN or any other cryptocurrency. There is one thing that is certain about cryptocurrency, and that is the fact that it is highly complicated and speculative. If you’re planning to buy Dogecoin, here are the following things that you need to keep in your mind.
Supply: As per the CoinMartetCap, the circulating supply of Dogecoin is 125,311,597,887 till July 2020. Since there is no set limit on the number of coins produced, there is no maximum supply of Dogecoin.
Availability: The availability of DOGECOIN depends upon the popularity of a cryptocurrency. As it is listed on quite a number of cryptocurrency exchanges, making it relatively accessible in comparison to Bitcoin.
Community Support: Currently DOGECOIN holds great popularity and support by a vibrant and active community, especially on Reddit. This support has made Dogecoin survive since 2013, which is considered a long time in the world of digital currency.