Dogecoin has grown a lot in the past few years, from a joke coin ‘to the moon’. According to the official website the price of this “open-source, peer-to-peer digital currency,” has surged by almost 2,900 percent since the start of 2021. Additionally, the market value of the eighth biggest crypto coin is at $39.1 billion as of August 24. If you’re wondering how to buy Dogecoin, read and find out!
Dogecoin: Now accepted by all
The rise of this crypto coin was spearheaded by a couple of high profilers like Elon Musk and Mark Cuban. The Tesla and SpaceX founder created a lot of buzz in the crypto market. SpaceX’s Doge-1 satellite launching to the moon in 2022 is very special. This SpaceX mission is not only paid for in Dogecoin but will also be the first meme and crypto going to space. Additionally, he also released a Dogecoin song titled ‘To the Moon’.
The Shark and owner of NBA’s Dallas Mavericks not only accept Dogecoin for payment but also offers a special sale for users of the coin. “Where the organization allows people to use any crypto, 95 percent of sales in are DOGE,” tweeted Mark Cuban. Cuban believes that it is ‘the people’s way to pay’.
“Dogecoin is truly a ‘meme coin. Tension to a digital currency that was created as a joke to mock the silliness of Bitcoin. And that reveals so much about cryptocurrencies generally. Their price is driven by speculation and traders, not by some fundamental value or that they’re backed by assets,” explained Hames Royal. After all the crypto coin gained cult status with the new generation of investors who are active on Twitter and Reddit.
Here’s how to buy Dogecoin
Just like other cryptocurrencies, you can buy Dogecoin on various online crypto exchanges. Coinbase, Gemini, and Kraken are just a few among many others. You can sign up for an account and fund the account to buy the crypto. However, some applications only accept bank transfers while others accept credit cards. Unfortunately buying cryptocurrencies with plastic is slightly pricy due to the additional fees associated with it.
Moreover, a digital wallet to store cryptocurrency is vital for all investors. They are very secure and one can store it on a special device or the hosted wallets offered by exchanges. The ‘wallet’ is similar to a savings or checking account. Additionally, the wallet also acts as a lost and found password since it aids in retrieving lost passwords stored.
