Dogecoin, among all various cryptocurrencies, is a digital or virtual currency. It is created in 2013 by two software programmers, Jackson Palmer and Billy Markus. Something that began as a joke has recently held a lot of traction, making it one of the market’s fastest-growing currencies. Considering India-specific exchanges and worldwide options, buying Dogecoin in India has never been simple. We’ll show you how to buy Dogecoin (DOGE) from any location in India in this article.
Why to Invest in Dogecoin?
Dogecoin has a market cap of 19.84 billion dollars as of March 2022. Dogecoin is now the world’s 12th largest cryptocurrency project. Apparently, there are 132 billion Dogecoins in circulation worldwide. The above figure also indicates the total amount of Dogecoins in use or publically available. When we examine the overwhelming amount of coins, Dogecoin’s future is bright. According to CNBC, Every minute there are approximately 10,000 new Dogecoins. This works out to 15 million DOGE each day and over 5 billion DOGE per year.
What to think before buying Dogecoin?
Below mentioned things are crucial in assisting you in selecting the appropriate time and service before buying Dogecoin.
Market:
Of course, when investing in any asset, this is a critical consideration. This is far more true when purchasing Dogecoin. It is subject to more significant price fluctuations than, say, stock investing. In that scenario, you should be completely informed of the market price at the time of purchase.
Fees:
Depending on the service you select to get your Dogecoin, they can range from extremely low to incredibly high. Before making a purchase, double-check for all fees and charges.
Exchanges/Platform:
It’s always advisable to check the platforms for trading Dogecoin. One should be aware of the reputation while dealing with sales platforms to avoid scams. Not all platforms are trustworthy.
Also Read : Dogecoin Review – Just a Meme Coin?
Where and How to buy Dogecoin in India?
You can buy and sell DOGE using Indian Rupees (INR) directly on Indian crypto trading sites. You can transfer Indian Rupees from your bank account to the in-app wallet and swap DogeCoin for INR.
Furthermore, you may also utilize P2P services to buy USDT (Tether) with INR on numerous platforms and worldwide crypto trading exchanges. After that, you can purchase DOGE with USDT.
Hence it appears that Indian investors have a variety of options for purchasing DogeCoin. Let’s look at three popular platforms to trade Dogecoin.
Wazirx
WazirX is a top-rated Indian cryptocurrency exchange. It allows you to easily transfer Indian rupees from your bank account to your WazirX wallet. Furthermore, It’s a secure platform with reasonable trading fees.
- You can start by downloading the WazirX app or visiting the wazirx.com website on your computer.
- Create your account and complete your KYC verification on the platform.
- Then, add a bank account or UPI ID and make a Rupee transfer. Then, to convert Dogecoin for Indian Rupees, go to the DOGE / INR pair and place a Buy order.
Binance
Binance is the most popular cryptocurrency exchange in the world, with the biggest trading volume. Binance’s trading interface is excellent on both mobile and desktop platforms. Remember that signing up for a Binance account is completely free. However, there may be fees to anticipate after you begin your transactions.
To purchase DOGE Crypto, you must first purchase USDT via Binance’s P2P service.
- Create an account with Binance by going to binance.com or downloading their app from the Google Play Store or Apple App Store.
- Go to the P2P area and purchase Tether in Indian Rupees. You have the option of selecting a seller and purchasing USDT from them via UPI or NEFT.
CoinDCX
CoinDCX is a Mumbai-based Indian cryptocurrency exchange. The CoinDCX platform is simple to use, download the app from google play/apple store and create an account and you can effortlessly transfer funds from your bank account using UPI.
Conclusion
Although there are a number of crypto exchanges available to choose from, these three are the most popular among users. Any of the exchanges listed above can be used to purchase cryptocurrency. All operations are entirely safe and secure with the exchanges. Nevertheless, you should be aware that crypto investments are vulnerable to market volatility, and the crypto market’s price fluctuates a lot.
