Dogecoin’s market capitalization increased exponentially in the last year. As a result, Dogecoin was one of the hottest cryptocurrencies of 2021 – not least because Elon Musk endorsed the digital asset throughout the year.
If you’re wondering how to buy Dogecoin cost-effectively, this guide is for you. We’ll walk you through the process step-by-step to learn how to buy dogecoin in India. Dogecoin has beaten many popular global companies like Honda, Dell Technologies, and Colgate Palmolive Moderna in terms of valuation. Yet, Doge has quickly become the fifth largest digital currency globally amongst all the buzz.
What is Dogecoin?
Dogecoin is open-source cryptographic money. It is a digital currency or altcoin, popularly utilized for peer-to-peer transactions. With a funny and friendly brand logo, Dogecoin began as a light-hearted joke against prevalent cryptocurrencies like Bitcoin in 2013. The vision was to make the public aware of the concept of cryptocurrency in a delightful manner. Instead, however, it has received more than five thousand percent in value over the years.
Dogecoin is quite famous as an altcoin and has one of the largest communities worldwide. Dogecoin is different from Bitcoin because the former has no upper limit. As a result, currently, there might be billions of Dogecoin in circulation across the globe.
How to Buy Dogecoin in India?
You can deal with Dogecoin utilizing your local fiat currency or cryptocurrencies like Bitcoin in India. In addition, people can purchase Dogecoin through many crypto trading exchanges like WazirX, CoinDCX, Coinswitch Kuber, Bitbns, and Zebpay. Here is a step-by-step guide on how to buy Dogecoin in India.
Step 1- Install A Crypt Exchange App
Install any crypto exchange apps like WazirX, CoinDCX, Coinswitch Kuber, Bitbns, and Zebpay on your device.
Step 2- Create a Crypto Trading Account
Now, register yourself and create an account to start doing crypto trading. Utilize your email ID to start the registration process.
Step 3- KYC and AML
AML and KYC are obligatory compliance for everyone investing in crypto trading. So fill up all KYC details for account verification.
Step 4- Two Factor Authentication Details
2FA or google authenticator details is another critical step. All you need to do is click on the link to your profile page. Now, add a password and move on to Google Authenticator. Then, move on to the Security tab by clicking on it.
Read all instructions carefully, and now you will be directed towards the Google Authenticator image. It’s a QR code that needs to be scanned utilizing the scanner on your device. As you scan, insert, or enter the 2FA code when it is asked for. The 2FA setup is complete.
Step 5- Update Your Bank Details
This is the last step where you have to give bank details like account and IFSC number.
You are now ready to purchase Dogecoin in India with the help of your credit or debit card, IMPS transfer, net banking, eWallet, and BHIM.
Final Thoughts
The popularity of Dogecoin and other cryptos is on the rise. According to a Nasscom report, more than 15 million retail investors in India have invested in cryptocurrencies. Signs that the government is bringing new rules for the unregulated cryptocurrency market are undoubtedly a step forward.
The cryptos that could benefit the most is Dogecoin, owing to its popularity and relatively less volatile price point. Relishing the backing of popular public figures, Dogecoin, unlike Bitcoin, is still considerably underrated. With the possibility of blockchain tech becoming a tool for future transactions, the value of Dogecoin might be far from its peak.
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