Buy Dogecoin in India: The cryptocurrency market has been on the rise for the past several months. Bitcoin, Ethereum, Dogecoin, and many other cryptocurrencies have created a new record of prices. Dogecoin has the best performance among them. In April itself, its price increased more than 5 times. It was priced at Rs 5 in early April, which has now reached Rs 25. Know what is the way to buy Dogecoin in India.
Dogecoin started as a joke
Dogecoin started off as a joke but thanks to the power of social media and mimes, it is today one of the most popular cryptocurrencies in the world. Dogecoin was started as a joke in 2013 by software engineers Billy Markus and Jackson Palmer. Tesla and SpaceX CEO Elon Musk posted a photo of Dogue magazine this year showing a dog wearing a red sweater. This led to a significant jump in the price of Dogecoin.
Elon Musk Support Dogecoin
Musk made several tweets in February in support of Dogecoin. In the first tweet, he only wrote Doge. Then he wrote, ‘Dogecoin is the people’s crypto’. In the next tweet, he wrote, ‘No highs, no lows, only Doge’. Just then, the price of this cryptocurrency rose to 5 cents. It was trading at 3 cents before Musk’s tweets. This is not the first time that Musk’s tweet has led to a surge in the price of Dogecoin. Earlier on December 20, he also tweeted One Word: Doge, and its price was increased by 20 percent.
Market cap over 2.25 trillion dollars
In recent times, investors have shown interest in cryptocurrencies. This brings the market cap of cryptocurrencies to over $ 2.25 trillion. Many companies, from PayPal to Square, have facilitated bitcoin transactions on their systems. Wall Street companies such as Morgan Stanley have started giving tokens access to some of their wealthy customers.
Bitcoin’s status is decreasing
Meanwhile, the world’s oldest, largest, and most popular cryptocurrency bitcoin (Bitcoin) is losing popularity in the crypto world. Robbie Liu, an analyst at OKEX Insights, cited data from Tradingview as saying that bitcoin’s dominance in the crypto world has declined by 28 percent since the beginning of this year. Bitcoin now accounts for less than 54 percent of the crypto market cap, its lowest level in nearly two years.
How to buy Dogecoin in India
Till 2018, it was not allowed to buy and trade cryptocurrencies in India. But in 2018, the Supreme Court changed this situation. Since then the crypto industry in India has grown significantly and millions of people have invested in crypto. Buying crypto is a very complicated process but it can be easily purchased with the help of crypto exchanges. In India, Dogecoin can be invested through exchanges like Coinswitch Kuber, WazirX, CoinDCX.
Here is the whole process
Install well-known Indian crypto exchanges like Coinswitch / WazirX / CoinDCX / Bitbns / Zebpay. Before selecting an exchange, do a thorough investigation about it. Create your account after verifying KYC. Put your bank details / UPI details on the app. Once the bank details / UPI are registered, add money to the exchange. After depositing money in the exchange, you can use it to buy Dogecoin or any other cryptocurrency.