As the concept of cryptocurrency becomes more mainstream, new cryptocurrencies emerge on the market, one of which is Dogecoin. If you’re considering buying or investing in Dogecoin, keep reading to learn more about the cryptocurrency and how to buy it in India.
What is Dogecoin?
- What is Dogecoin?
- How to Buy Dogecoin in India?
- Alternate Method to Buy Dogecoin in India
- Frequently Asked Questions
A Dogecoin is a type of cryptocurrency. By definition, cryptocurrency is a type of digital money that doesn’t exist physically but is only electronic and can be used just like actually money for buying and paying.
Dogecoin is a cryptocurrency designed to be entertaining for its users. It’s meant to be more supportive, and because it’s based on a recent meme, it’s also known as the joke currency or meme currency.
Billy Markus and Jackson Palmer came up with this idea.
Dogecoin, like any other cryptocurrency, can be purchased, sold, or traded.
Cryptocurrencies like Dogecoin are getting more popular these days due to the incredible rise in demand for cryptocurrencies like Bitcoin.
How to Buy Dogecoin in India?
Dogecoin can be purchased in India using a variety of methods. Now, if you’re interested in buying Dogecoin and live in India, here’s how you may do it.
Step #1: Install Crypto Exchange App
- Install a crypto exchange application. For this, you have to make sure that the crypto exchange does support Dogecoin.
WazirX, BuyUcoin, CoinSwitch, CoinDCX, Bitbns, Zebpay, and other applications can help you buy Dogecoin.
Step #2: Setup Account and complete KYC
- Complete the registration and KYC process on a Crypto Exchange to open an account.
Step #3: Add bank deatils and money in account
- As needed, enter the bank and other UPI details into your account.
- After that, put in the money you’ll need for cryptocurrency purchases and exchanges.
Step #4: Buy Dogecoin
- Once you’ve deposited funds into your account, you may use them to purchase Dogecoin directly from the app.
To buy Dogecoin in India, you can use methods like a credit card, debit card, e-wallet, etc. The e-wallets include MobiKwik, Bhim, IMPS Transfer, etc.
Recommended: Explanation of Cryptocurrency’s Future
Alternate Method to Buy Dogecoin in India
Potential Dogecoin purchasers have another option for funding their purchases.
Other stable coins, such as Bitcoin, USDT, USD Coin (USDC), and other cryptocurrencies, are used to fund the purchase of Dogecoin. It may be done on platforms like Bittrex Global, Binance, Poloniex, and others that support international exchange.
These exchanges allow investors to deposit their cryptocurrency and then use it to purchase Dogecoin.
Recommended: Will Dogecoin Surpass $100?
Frequently Asked Questions
Why is Dogecoin Popular?
Dogecoin has acquired a lot of celebrity backing from people like Elon Musk, Snoop Dog, and Gene Simmon since it originated as a meme.
These celebrities have made statements that have drawn a lot of attention to this cryptocurrency, which has made it extremely popular in recent years.
Should I Buy Dogecoin in India?
Although Dogecoin is a decent cryptocurrency and is currently cheaper, that doesn’t imply you should buy it without doing some research and understanding. This coin is still dangerous, and if not handled properly, it could result in a loss.
Be sure you understand it and its basics before deciding whether it is a smart long-term investment option.
Is it too late to buy Dogecoin in India?
Certainly not; Dogecoin can still be purchased in 2021. It is not too late to purchase Dogecoins if you have the patience to wait for them to develop in value.
Yes, it is a little late to make a lot of money from this coin because it has already served its purpose, but it is still possible to profit from it.
How long will it take for Dogecoin to reach $1?
Dogecoin has the potential to reach $1.
The price of Dogecoin is expected to climb to $0.57 by the end of 2022 and $0.76 by the end of 2023, according to predictions.
In April 2025, the coin is expected to be worth $1.
How is Dogecoin better than Bitcoin?
There are several factors to consider when comparing the two cryptocurrencies, Dogecoin and Bitcoin. These factors suggest Dogecoin as a superior cryptocurrency to Bitcoin.
The network of this currency is not controlled by Chinese miners, and it also features a system to counteract the effect of lost coins.