One of the hottest topics in town, Dogecoin has taken the world by a storm. Currently, a number of individuals are wondering how to buy Dogecoin in India. Not long ago, the meme cryptocurrency touched the highest value ever and has been creating new records ever since. No wonder people are so attracted to it and are investing in this meme crypto.
From Rs. 5 at the beginning of April to the current price of Rs. 40, the Dogecoin price has varied a lot. Recently, it hit the highest price of Rs. 58 and created a new record.
Driven by the power of memes, social media, and tweets from Elon Musk, the CEO of Tesla and other celebs, DOGE has become one of the most popular cryptocurrencies in the world. Read on to know more about Dogecoin price history and how to buy Dogecoin in India.
According to Statista, the price of Dogecoin soared to new heights at the beginning of the year 2021. Believe it or not, the growth rate of the meme crypto exceeded that of Bitcoin.
After comments from Elon Musk, Dogecoin’s value between January 28 and January 29, rose by around 216% to 0.023535 U.S. dollars. Dogecoin quickly became the talk of the town; not necessarily for its price but for its growth.
In some of his tweets, Elon Musk said,
Dogecoin is the people’s crypto.
In his recent tweet, he also mentioned
SpaceX is going to put a literal Dogecoin on the literal moon.
It's pretty obvious why people can’t stop themselves from indulging themselves in this meme crypto, Dogecoin.
Note: The prices of Bitcoin, Ripple, Ethereum, and various other digital currencies are much higher than that of DOGE.
Given below is the graph demonstrating the price history of DOGE from 2019 to May 12, 2021.
Did you know how to buy Bitcoin in India? Do check out our blog on the same. It's quite difficult to buy but possible. One can buy bitcoins in parts or fractions. Unlike bitcoin, the Dogecoin price in India is quite affordable, i.e., Rs. 40 at the time of writing this blog.
To buy Dogecoin in India, you need to set up your account on any of the trusted crypto exchanges that support Dogecoin. A cryptocurrency exchange will allow you to sell or trade, invest in or buy cryptocurrencies.
A few apps such as BuyUcoin, WazirX, CoinSwitch Kuber, etc. can be trusted for buying digital currencies in India.
Now to know more about how to invest in Dogecoin in India, you must follow the steps listed below:
Step 1: Firstly, download and install a trusted and reputed crypto exchange such as CoinSwitch Kuber or CoinDCX, etc.
Before deciding on choosing any crypto exchange, you must make sure that you have done your research quite well.
Step 2: Secondly, you need to set up an account on that exchange by registering and verifying your KYC. Do set up two-factor authentication for the app. It will make your application safe and super secure.
The following screenshot shows the sign-up window for the popular crypto exchange CoinDCX.
Step 3: Enter your UPI or bank details into the app. Once you have registered your bank or UPI details, you will be able to add money to the exchange.
Step 4: Once you have deposited the money into the exchange, you can start using it to buy Dogecoin, or any other cryptocurrency that is available for purchase.
Note: You can buy Dogecoin in India through a Credit or Debit card, BHIM App, Bank Transfer, MobiKwik wallet, and IMPS Transfer.
As of now, yes!
It is completely legal to buy Dogecoin in India. In March 2021, there was news about cryptocurrencies being banned in India as they tend to target miners and traders. However, currently, there’s no such legal framework in place that stops you from buying or investing in DOGE or any other crypto in India. Therefore, you can invest in this cryptocurrency without any hesitation.
We call it the RUMINATION method. Buy it, think of it. Enjoy it. Keep it with yourself. But don't sell it soon. It's a long-term game.
Before you take any action, become financially aware. If you are only reading this blog, this is not enough. Go through our other blogs on Cryptos, get profound insights and then do some practices and then invest. Start with a small amount.
Remember, a financially aware India is a warrior, just like you, the CONVEY WARRIORS!
Note that it is just an opinion, not financial advice.