Dogecoin is the talk of the town for both seasoned and inexperienced cryptocurrency investors. It is currently among the top five most common cryptocurrencies, having surpassed a number of major crypto coins. The price of Dogecoin has hit an all-time high of $0.65 at the time of writing this post. Doge is now so dominant in the market that other coins are losing ground to it. So, what’s all the fuss about? Is it wise to invest in Dogecoin in 2021? Continue reading to find out.
Dogecoin – The Meme Cryptocurrency
Shiba Inus all over the world prefer Dogecoin, an open-source peer-to-peer digital currency. It’s a joke cryptocurrency whose name is a reference to a viral Internet meme. Despite its peculiar origin story, it has become extremely famous in the year 2021. It is currently the fifth-largest cryptocurrency in the world by market capitalization. It also has a lot of similarities to Litecoin. Unlike Litecoin, however, there is no hard limit on how many Dogecoins can be created.
The Dogecoin Graph
If you had invested Rs 1 lakh in Dogecoin at the beginning of 2021, it would now be worth about Rs 1.3 crore. According to our estimates, this represents a gain of about 12,000 percent, which is exceptional for cryptocurrency investors. In contrast, other common cryptocurrencies like Bitcoin and Ether have only grown by 95 percent and 369 percent, respectively, over the same time span.
Elon Musk, the CEO of Tesla, is one of the few supporters who has helped to lift the price of Dogecoin in the market. He believes Dogecoin is the cryptocurrency of the future. He has made several tweets promoting Dogecoin from his official Twitter account, which has helped drive up its price. Musk not only referred to Dogecoin as the “people’s crypto,” but he also claimed that a physical Dogecoin token would be planted on the moon. With this, it’s clear that Dogecoin is his preferred cryptocurrency.
How to Purchase in Nepal
Do you want to buy Dogecoin but don’t know where to start? As you might have noticed, even large corporations are investing in cryptocurrencies, the time appears to be right to get ahead of the pack and own your own cryptocurrency, such as Dogecoin. Here is a basic beginners’ guide that will walk you through the process of buying Dogecoin safely and step by step.
- Step 1: Make an account and protect it. Binance is preferred because buying Dogecoin on this site is really straightforward.
- Step 2: Calculate how much Dogecoin you’re willing to spend. To get a feel for the operation, it’s best to start tiny.
- Step 3: Purchase Dogecoin using various payment methods. Simply choose your currency (in your case, Nepalese Rupee) and payment form (credit card, PayPal) from the drop-down menus.
- Step 4: From Nepal, trade or buy your first Dogecoin.
- Step 5: Continue your research into purchasing knowledge and tactics.
You must be ecstatic to purchase Dogecoin as soon as possible after hearing about its meteoric rise. However, before you buy dogecoin in the hopes of profiting from the surge, keep in mind that popularity and stability don’t always go hand in hand, and many have warned of dogecoin’s bubble potential. When it comes to a token like Dogecoin, whose value fluctuates a lot, you have to be careful about when you enter and exit the market. \