How to Buy Dogecoin in India?

The correction, however, has proved to be an entry point for a range of Dogecoin investors. While the naysayers are of the opinion that the government could announce a ban on private digital currencies, such as Dogecoin, cryptocurrency enthusiasts view regulations positively. Before we delve into how to buy Dogecoin in India, let’s look at what Dogecoin is and why it is so popular among the crypto community.

What is Dogecoin?
Dogecoin is a peer-to-peer cryptocurrency that was started as a joke by two software engineers Billy Markus and Jackson Palmer in 2013. A cryptocurrency is essentially a digital currency that is secured by cryptography which makes it difficult to counterfeit. In Feb 2014, Palmer removed the supply cap of Dogecoin, making it infinite in supply. This was in a bid to encourage tipping and discouraging holding by people. This means that dogecoins are minted every minute. In contrast, Bitcoin has a hard cap of 21 million units.

Rising Popularity of Dogecoin
The popularity of Dogecoin reached new levels owing to Elon Musk’s tweets on the digital token Dogecoin is the people’s crypto.” It has also had other popular backers such as Mark Cuban and Snoop Dogg. Apart from Musk’s numerous tweets in support of Dogecoin, he had once also changed his Twitter bio to “Former CEO of Dogecoin.” This week too, Elon Musk, the father of Dogecoin, ignited a spark when he announced that his company Tesla was eyeing to make some merchandise buyable with Dogecoins. The meme token zoomed 22% to $0.195 from $0.156 within seconds after the disclosure.

Use Case

Among the most important use cases that you should be aware of Dogecoin is its utility in transactions. The meme-coin offers fast transactions. Also, the transaction fee is very low, making it a good candidate as a future digital currency. However, a Dogecoin enthusiast must be aware of the fact that the digital coin is infinite, unlike Bitcoin. Therefore, Dogecoin will continue to be produced annually and will be in unlimited supply. Dogecoin can hence be bought at a considerably lower price than say a Bitcoin. While the cryptocurrency was never meant to be used as a form of payment, it’s value today is at par with companies such as Ford Motors or Volvo.

How to Buy Dogecoin on WazirX

If you wish to buy Dogecoin in India you will need to set up your account on crypto exchanges that support Dogecoin. WazirX, is one such platform that allows its users to buy, sell or trade in Dogecoin. Once you decide to invest in Dogecoin, you need to find an exchange that has a track record of providing a safe and smooth platform for trading in cryptocurrencies.

In this regard, you need not look any further than WazirX which offers a slew of cryptocurrencies to trade in. To begin with, you need to install the WazirX application or access it via its web page.

The next step involves setting up your account which would require your bank account number. As soon as you complete your KYC, WazirX will verify your registration, paving the way for your first investment in cryptocurrencies.

The primary requirements of a KYC are a pan card and a valid address proof. Your bank account would then be linked to the exchange and the verification process will come to an end. As soon as the account is set up, your digital wallet can be seen on the website. With the funds in your account, you can start buying cryptocurrencies by clicking on the ‘exchange’ tab. Finally, you can choose the number of cryptos you want to purchase and press ‘Buy’. Your Dogecoin purchase would be always visible on your digital wallet, making your trading experience smooth and seamless. With the WazirX app, you can track the price of Dogecoin real-time. Besides, you will get access to technical charts which can help you in identifying attractive entry points into the cryptocurrency market.

Ease of trading with WazirX
What makes trading via WazirX smooth and user friendly is that a user can begin investing in Dogecoin with just Rs 100. Besides, the application is easy to use so that users can not only check the current rates but also benefit from the technical charts so as to make better trading decisions.

Bottom Line
The popularity of Dogecoin and other cryptos are on the rise. According to a Nasscom report, over 15 million retail investors in India have invested in cryptocurrencies. Signs that the government is moving towards bringing new rules for the unregulated cryptocurrency market is certainly a step forward.
Among the cryptos which could benefit the most is Dogecoin, owing to its popularity and relatively less volatile price point. Enjoying the backing of popular public figures, Dogecoin, unlike Bitcoin, is still considerably undervalued. With the possibility of block chain tech becoming a tool for future transactions, the value of Dogecoin might be far from its peak.
FB: Dogecoin has become one of the most popular cryptocurrencies today being backed by celebrities from Elon Musk to Mark Cuban. While the naysayers are of the opinion that the government could announce a ban on private digital currencies, such as Dogecoin, cryptocurrency enthusiasts view regulations positively. If you’re wondering how to buy Dogecoin, here’s what you need to know.
Twitter: While buying cryptos is complicated, crypto exchanges like #WazirX make buying them an easy affair. Read to know how to buy dogecoin in India.

https://indianexpress.com/article/technology/crypto/elon-musk-talks-up-dogecoin-again-in-response-to-high-ethereum-fees-in-defi-7656053/
https://www.fortuneindia.com/investing/will-cryptocurrency-bill-ban-bitcoin-ethereum-dogecoin-experts-take/106263
https://www.moneycontrol.com/news/business/personal-finance/should-you-invest-in-bitcoin-and-dogecoin-why-is-crypto-so-volatile-and-other-questions-answered-6951721.html