Cryptocurrency has been trending since Elon Musk, the founder of Tesla Company, promoted this through social media. It has gained its value to the highest in the past few months. The primary name in the Cryptocurrency market that gained popularity includes Bitcoin, Dogecoin, Ethereum, etc. Dogecoin started with INR 5 earlier in April and reached INR 36 by mid-May, which is almost seven times its value. Started in jest, Dogecoin, today, has become the most popular Cryptocurrency owing to memes and social media. Read this article to know more about Dogecoin Cryptocurrency and how you can buy it in India.
Two engineers named Jackson Palmer and Billy Markus started Dogecoin in 2013. It is similar to Bitcoin and was created as a fun and faster alternate to Bitcoin. As per the creators, another reason to start Dogecoin was to be sarcastic against the fraud cryptocurrencies that came into the picture when there was a massive spike in the value of Bitcoin Cryptocurrency.
Started as a joke, it had gained a large number of followers that lead its value to more than 34 billion. Presently, the price of Dogecoin is INR 36 for each coin. Moreover, Dogecoin is limitless means that it can exist in countless coins. Now more than 113 billion coins of Dogecoin had been mined, whereas Bitcoin is limited to 21 million coins.
How to Purchase Dogecoin?
There are different Cryptocurrency exchanges using which you can buy Dogecoin and many other cryptocurrencies. These exchanges include Binance, WazirX, CoinDCX, Coinswitch, etc. You can use any of these crypto exchanges to purchase Dogecoin. To buy Dogecoin using Binance, you need to buy USDT before purchasing Dogecoin. WazirX, CoinDCX, Giottus do not need any currency conversion, and you can buy Dogecoin directly in Indian currency. In this article, I will share the steps to purchase Dogecoin using Binance in India. Binance is the most popular crypto exchange that offers over 500 cryptocurrencies and other virtual coins.
Below are the steps you need to follow to buy Dogecoin Cryptocurrency in India using Binance:
Step 1: Register on Binance
Open the official website of Binance in the browser or install the mobile app of Binance. Create an account and complete KYC to start trading.
Step 2: Buy USDT
First, click on Wallet and then on the P2P option. Select USDT at the top and then select the seller to buy USDT. Enter the amount and click on buy USDT.
Step 3: Make payment for USDT
Select the payment method and get the seller details for the respective payment method. Make the payment for USDT bought using the selected payment method. Once the seller receives the money, the corresponding amount of USDT gets deposited into your account.
Step 4: Transfer USDT from P2P Wallet to Spot Wallet
The USDT is present in the P2P Wallet. To purchase Dogecoin using USDT, you need to transfer it to a spot wallet. Click on the Transfer option in front of USDT and transfer the required USDT.
Step 5: Start trading Dogecoin
Click on the Market option, search Dogecoin and click on the ‘Buy DOGE’ button at the bottom. Enter USDT amount and click on the ‘Buy DOGE’ button. You can check the same in the order history.
Other Crypto Exchanges:
You can use other crypto exchanges to buy Dogecoin if you do not want to use Binance. Other options are WazirX, CoinDCX, Giottus, and many more. Using these exchanges, you can directly buy DOGE in INR, and no currency conversion is required. You can use any of these crypto exchanges to buy Dogecoin.
WazirX is a well-known and secure crypto exchange in India. It started in 2018 and currently has become the most trusted in the Indian market. WazirX has witnessed a steep increase in the number of users and trading activity in recent times. You need to follow the simple steps to buy Dogecoin using WazirX. Create an account on WazirX and complete KYC. Enter the amount into the WazirX wallet using NEFT, IMPS, or UPI. Once the amount gets transferred, you can buy Dogecoin under the Market option. Select Dogecoin, click on buy, enter the amount and confirm the order. You can check the same in History under My Orders.
CoinDCX is another crypto exchange, which has a user-friendly interface. Using CoinDCX, you can buy Dogecoin in INR. Just create an account in CoinDCX and complete the KYC. Enter the bank details from which you want to make deposits and withdrawals in your CoinDCX Wallet. Once the account set up is complete, enter the amount into the CoinDCX Wallet using NEFT, RTGS, or Mobikwik. Then under the Market option, select Dogecoin to buy Dogecoin.
It was all about Dogecoin and how to buy it in India. It is the most valued and profitable Cryptocurrency. If you are also interested in buying Dogecoin, then you need to create an account on the platforms, such as WazirX, Coinswitch, and more. Dogecoin can be purchased using debit or credit card or any e-wallet that includes Bhim, UPI, Mobikwik, IMPS transfer, bank transfer, etc. Also, Windows, Linux, or Mac operating systems are required to mine Dogecoin. Reasons behind the increasing value of Dogecoin are its popularity through social media and the increased value of other famous cryptocurrencies, such as Bitcoin.