How to buy Dogecoin In India?
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| Dogecoin |
What is Dogecoin?
The Dogecoin is a
peer-to-peer digital currency or cryptocurrency based on the Doge meme and was
started as a fun alternative to Bitcoin. Its value has risen phenomenally
this week too. Its value has reached 48 million dollars this week
The digital currency
was created in the year 2013 by Billy Markus and Jackson Palmer who were
software engineers. They said that dogecoins were faster and a fun alternative
to Bitcoin.
Unlike Bitcoins the
maximum possible number is not fixed. Bitcoin has been fixed at 21 million
dollars. Dogecoin numbers do not have any upper limit and these are 100
billion in existence now. When the crypto coin first started, an online
community that was backing it, invited attention by supporting unconventional
causes like sponsoring Jamaica's bobsled team at the winter Olympics
2014.
Dogecoin: Why
in News?
Dogecoin
has been in news of late after there were multiple cryptic tweets by Tesla and
SpaceX CEO Elon Musk in the past few weeks. This indicated his support to the
most trending altcoin. It
gained popularity after Elon Musk’s tweet on February 4, 2021, in which he
wrote that “Dogecoin is the people’s crypto”.
Milky Way’s Twitter
account also joined in on promoting the meme-based cryptocurrency.
The #DogeDay420 campaign has been trending across Twitter and Reddit as crypto and meme enthusiasts hope to send dogecoin’s price to a record high of 69 cents. Dogecoin is currently trading just a few cents off its all-time high of $0.43, which it hit on Friday following an astonishing price surge. The market rally pushed dogecoin’s overall value above $50 billion, ranking it among the top five most valuable cryptocurrencies in the world. Less than a year ago, one dogecoin was worth just two tenths of a cent and its market cap was less than a quarter of a billion dollars.
How
did Dogecoin rise?
1. The major
reason behind the rise of Dogecoin is the same that has propelled Bitcoin and
Ethereum. One can mine Dogecoin on Windows, Mac, or Linux.
2. Coin base's market cap briefly hit $100 billion after it went public on 14th April, 2021.
Dogecoin is a part of the frenzy.
3. The reason
behind its current success is also said to be Satoshi Street Bets. Here members
built up an enthusiasm for the cryptocurrency so as to lead to the rise of
GameStop earlier this year. The group's name is Satoshi Nakamoto.
Doge Coin
Predictions
The sharp rise in Dogecoin’s (DOGE) price and the huge addition of subscribers in Dogecoin and other cryptocurrency subreddits last week indicate that there is an influx of novice traders who are dreaming of making easy riches.
The bulls have continued with their recovery today and are attempting to drive the price above the all-time high at $0.45. If they succeed, the DOGE/USDT pair could start the next leg of the rally that could reach $1.0.Dogecoin is the new Bitcoin. Maybe, it’s too early to say that but in the next few months Dogecoin may emerge as the cryptocurrency of 2021. It’s already on path, witnessing a massive surge since the start of the year. Dogecoin has given nearly 1900 per cent returns since January 2021. It’s a possibility that DOGE can reach to $1.
BuyUcoin is an exchange that provides buying and selling Dogecoin in India as well as other cryptocurrencies. Below is a step by step guide to buying ENJ Coin via BuyUcoin:
Step 1 — Open a Digital Wallet
A digital wallet houses your cryptocurrencies and uses blockchain technology to communicate with other citizens. It is important to do in-depth research before you decide what is best for you; however, there are several providers of digital wallets. Today, BuyUcoin’s the leading digital wallet provider.
Step 2 — Register & Open an Account
When you enter the BuyUcoin/Signup account, register and open a service account, choose your person or company form of account. Choose your country and adhere to the terms and conditions of your crypto-trading account.
Step 3-KYC
For the Indian jurisdiction, KYC and AML are compulsory. Your data are secure and encrypted and stored only in Indian data centers. To complete your KYC, you are redirected to another URL. With your last selfie, please be ready. Pictures of your pan card will be required. The mobile number connected to your Adhar is essential.
Step 4-Google 2 step Verification
To use 2FA, the Authenticator app must be installed and enabled on your smartphone or tablet. If enabled, any time you log in to your BuyUcoin account, you will be asked to include a 6- digit one-time password with your email and password. This only functions when an email and password are entered. You should set up 2FA for your social media provider settings by using Facebook or LinkedIn.
Step 5-Add Bank details
Add your name credentials, the account name of the holder and the IFSC code information.
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