Note: This article is not an investment guide. It is just an educational blog and not financial advice.
I am shocked after seeing the Doge Coin price going all up.
The DogeCoin which was a meme it went upto 17,176.78% in just one year.
Hard to believe right?
I love how everyone is reading about it and a lot of people are planning to buy Dogecoin for themselves but they don’t know how to get started.
Well!
Today on Instagram I took a poll where I asked my followers if I should buy the Dogecoin when it was at Rs 21.
A lot of people asked me how they can also buy Dogecoin for themselves.
Well! A lot of people don’t know how they can get started and what do we need to do if we want to buy doge coin for ourself.
There are chances you might not know anything about Dogecoin.
Don’t worry let me explain you.
What is DogeCoin?
Dogecoin is a cryptocurrency that was created as a joke – its name is a reference to a popular Internet meme. It shares many features with Litecoin. However, unlike Litecoin, there is no hard cap on the number of Dogecoins that can be produced.
Now, I want you to read the the last line once again.
There is no hard cap on the number of Dogecoins that can be produced.
Anyone can mine unlimited DogeCoin and there is no limit or cap. That makes Dogecoin very volatile and quite scary too.
There are a lot of people who are going all crazy after listening that Dogecoin is going up.
They think that this can be the next bitcoin but there is a cap on the number of Bitcoin that can be mined and will be there in the world.
From January 2021 to April 2021 the value of DogeCoin increased by a whopping 1900%.
Yes! Yes! Yes!
You heard it right and even I was shocked when I heard this really big number when I was reading an article by IndiaToday.
That’s what DogeCoin is and I think now you know everything you need to know about DogeCoin.
Let’s talk about how you can buy DogeCoin.
Buy DogeCoin In India?
There are a lot of apps which allows you to buy CryptoCurrency. For example you can buy it using Binance or WazirX.
Here in this article we’re going to talk about WazirX.
I recently came across WazirX and it supports UPI payments.
If you have seen the stats in India a lot of people make the payment using UPI.
That makes easy for anyone who wants to get started and buy a bitcoin or dogecoin for themself.
That’s the reason we’re going to talk about the app WazirX.
It’s an app where we can do trading of cryptocurrency and if we wish to buy Bitcoin or DogeCoin we can also do that it’s simple.
If you wish to do trading then you can also do that with the help of Dogecoin.
Now, you know the app which helps you to buy Cryptocurrency if you’re from India.
Now, let’s try to understand how you can buy Dogecoin for yourself.
How to Buy CryptoCurrency or DogeCoin
- Firstly, signup with WazirX from here: Register to WazirX (My affiliate link)
- Click on the signup button.
- Enter your personal information like your email address and password.
- The app will ask you to complete the KYC.
- After the KYC is done then only the app will allow you to deposit the money in your WazirX account.
- You need to add the funds to your WazirX account.
- You can select the Crypto you want to purchase. Then select the amount of DogeCoin you want to purchase.
- That’s it! Congratulations you have purchased your DogeCoin for yourself.
About WazirX
WazirX is a nice app which allows you to buy the cryptocurrency in India.
But there are some issues with the app and the website.
I want to talk about it.
WazirX sometimes goes down multiple times in a day and that’s an issue.
Sometimes it takes a lot of time to deposit the fund in your account. It’s not like Zerodha or Upstox where you can add the money in a few seconds and get started.
Sometimes the app shuts working and a lot of people take it on Twitter. They face issues in depositing funds or sometimes withdrawing the money.
But you don’t need to worry about the money because the app is safe.
Just make sure some money is already deposited in your account before doing trading.
Sometimes, the website randomly goes down, which also means that there are chances you might end up losing money because while trading a few seconds of downtime can change everything.
That’s all about the app and my honest feedback about the WazirX app.
It’s a good app but there are issues with the app. That’s why they always say it’s in Beta.
What are my thoughts on DogeCoin?
A few days back when Dogecoin was at Rs 3, I was planning to purchase it but then I was like let’s not do it because it’s quite scary to invest in something which is just a meme.
Apart from that there is no limit in DogeCoin there is no cap which makes this Dogecoin very scary.
What is the worst part when it comes to Dogecoin?
Dogecoin is controlled by Redditors and our famous Elon Musk.
He always posts about DogeCoin and the prices of Dogecoin goes up.
I will never invest in something like this because his one tweet always changes everything.
Let’s say you hold Dogecoin and one day he announces that he is selling all his Dogecoins and after seeing his tweet everyone starts selling the dogecoin.
What if you’re sleeping at that time when he announces that using his twitter.
A person like me or you what can we do when something like this happens?
Nothing.
I am the kind of person who will always read about a company and do my study before investing in any company.
I will also invest my money for a longer time in Mutual funds, Equity, and sometimes in FD.
If you’re some who loves to do trading and make a quick buck. Go ahead and buy the dogecoin and do the trading.
If you’re someone who is interested in keeping things longtime I will suggest you to invest in something else.
Dogecoin : Explained by MKBHD
Frequently Asked Question
Can we buy Bitcoin using WazirX?
Yes! You can buy bitcoin.
How much time will WazirX KYC verification take?
It takes around 24 to 48 hours.
I have deposited money but it is not showing up in my account
I will suggest you to wait for sometime because the app takes time.
Conclusion:
Well! This was a short article where I wanted to share what are my thoughts on Dogecoin.
Let me know your thoughts on Dogecoin and I want to know if you purchased Dogecoin for yourself.
I repeat this article is not an investment guide. It is just an educational blog and not financial advice.
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