Maintaining a bank account for saving money is cool, but have you ever imagined what an account would look like without bank or government intervention? Cryptocurrency allows you to do just that. It is based on Blockchain technology , a decentralized way of storing your money, for starters. Cryptocurrency is secure and allows you to gain total control over how you decide to keep or spend your money.

There are certainly many things to talk about Cryptocurrency, but in this article, let’s talk about the new kid on the block, Dogecoin cryptocurrency, where and how it emerged, and whether you should buy Dogecoin.

What Is Dogecoin Cryptocurrency?

Dogecoin is a cryptocurrency invented by Billy Markus and Jackson Palmer in 2013. The sole reason why they created Dogecoin is, they wanted to create a payment system that is free from traditional banking fees and fun at the same time.

The famous dog from the Doge meme is the mascot of Dogecoin, and it’s what led to the rise of its popularity. However, it was far from being called a “major success” compared to other cryptocurrencies like Bitcoin and Etherium.

It is very similar to Litecoin, but the only difference between the two is, there’s a limit to how much Litecoin can be mined whereas, in Dogecoin mining, there’s no limit.

How To Mine Dogecoin?

Dogecoin can be mined in two ways – in a Dogecoin mining pool or by individuals. For starters, a Dogecoin pool consists of a group of miners, and the mining is done by sharing computing resources. However, there is a fee that you’d need to pay, and the reward will also be smaller.

You needn’t pay any fee for solo mining but, due to many other people mining at the same time, mining your first block could take weeks to even months, but the reward will be greater.

Now, before you start asking “Is my PC hardware sufficient for mining” questions, if you have an older potato PC that can’t even run Windows well, you won’t be able to do it. You’ll need a PC with a dedicated graphics card and a capable processor alongside a mining application like MultiMiner .

Launched at $0.00026, its price escalated to $0.00095 after 72 hours of launch. But today, thanks to Elon Musk, one of the most famous entrepreneurs, the value of Dogecoin has grown to $0.074. Enthusiasts also expect it to grow to $1 by the end of the year 2021.

The Elon Formula

Elon Musk has been an avid Bitcoin supporter. A couple of weeks ago, he tweeted, “Bitcoin is a good thing,” and its value rose to $40,000/ Rs 30,00,000.

This is not the first time Elon has helped a firm or an entity grow by just one tweet. When WhatsApp pushed its new privacy policy, he tweeted about Signal, and right after that, Signal’s stocks skyrocketed.

How Did Dogecoin Become Popular?

Shortly after Falcon 9’s launch, he tweeted “Doge,” followed by another tweet that read, “Dogecoin is the people’s crypto.” This led to a lot of hype, and Dogecoin news has increased ever since.

What Is The Current Dogecoin Cryptocurrency Value?

Thanks to continuous tweets from Elon, Dogecoin’s market value has increased to $10 billion (Rs 73,000 crores). The current Dogecoin to USD value is $0.078/ Rs 6 but, it’s still volatile.

Is Investing In Dogecoin Cryptocurrency Worth It?

Considering that the prices have gone up because of the hype, Dogecoin’s price prediction is hard, and we can’t really say if it’ll grow above or fall below its current value. Cryptos have always been highly unpredictable, but given the circumstances of Doge, it is expected to rise for as long as the hype remains.

The chances that it will grow to $1 at the end of 2021 are very high, and it definitely makes sense to invest in Dogecoin given you already consider the worst-case scenarios.

Where To Buy Dogecoin And Other Cryptos

Here are some of the best apps that you can use to buy Dogecoin and other Cryptocurrencies.

1. Binance
2. Uphold
3. Trezor
4. Exodus
5. Coinbase

How To Earn Cryptocurrency For Free?

Until a year ago, I didn’t know what cryptocurrency was. Then I came across Brave browser, and it was offering free BAT by referrals or pushing ads that we can later withdraw for money. The browser also had a lot going for it so, I decided to try it out.

Fast forward to this day, and I think it’s among the best Chromium alternatives with a lot of extra perks. BAT, Brave’s own crypto, has allowed me to learn more about cryptocurrency and how it works while earning many rewards. Hence, one of the best ways to get started with Crypto is making BAT by using Brave.

Have you invested in Dogecoin yet? Let us know your opinions in the comments section below. Do let us know if you want a comprehensive tutorial about buying crypto using the above apps.

The post What Is Dogecoin Cryptocurrency And Why Should You Care? appeared first on Fossbytes .

Given the recent ripple on the web globally, you might be wondering how to buy dogecoin in India. In between stories of Bitcoin values soaring at a rampant rate, the dogecoin cryptocurrency has recently become the talk of the town.

Dogecoin, which is literally based on a meme, is witnessing a significant upward boost in its value after receiving endorsements from prominent figures such as Elon Musk and Snoop Dogg. In this article, we will tell you how you can purchase Digicoin in India.

Dogecoin Price In Rupees

As of writing this article, one Dogecoin costs approximately $0.08 ~ INR 5. While it’s not much, note that it was only $0.03 a week back, i.e., its price is up by more than 166 percent.

If the meme-based cryptocurrency follows the upward trend, Dogecoin could become a high valued cryptocurrency in the next few years. Note that one Bitcoin started off with $0.30 per coin back in 2011. And as of writing this article, it stands at close to $47,000.

If you feel bad for not investing in Bitcoin when the time was right, here’s how you can redeem yourself by becoming an early Dogecoins holder in India.

How To Invest In Dogecoin In India?

Just like Bitcoin or any other cryptocurrency, Dogecoin can be bought in India using cryptocurrency exchange services like Coinbase, WazirX, Bitcoin Wallet from CoinBox, etc.

On most platforms, users will have to do a KYC (Know Your Customer) which involves uploading a scanned copy of your identification documents. This can include your photo, Passport, PAN Card, etc. Once the identification process is complete, you will be able to purchase Dogecoin using INR.

We personally liked the WazirX app (available on Android, iOS, and on the web) due to the quick identification process and INR deposit and withdrawal.

How To Purchase Dogecoin Using WazirX?

Step 1: Setting up the account

Open the WazirX app on your smartphone and begin the Sign-up process. Once it is complete, finish the email verification and set up 2FA (Factor Authorization) by registering your mobile number. You will now be asked to complete the KYC.

For KYC verification, you will need to fill in your name, date of birth, and address. The app will also ask you to upload identity documents such as Pan Card and Aadhar Card (optional). Once the KYC is complete, you will receive a confirmation on your email address within 24-48 hours.

Step 2: INR deposit and Withdrawal

To deposit or withdraw money, you will first need to connect your bank account. Tap on the funds tab > Tap on INR tab > Tap on Deposit > Enter your bank account details (Account number, IFSC code, and account type) > Tap on Submit. Now, authenticate the process via entering the OTP number that will arrive on your mobile number registered with the bank account.

Once you have linked your bank account to the app, you can easily deposit money using IMPS/NEFT/RTGS.

The best part about the app is that you can also deposit money using UPI (Google Pay, PhonePe, Paytm, etc.)

Step 3: Buy Dogecoin

To buy Dogecoin in India, go back to the markets and tap on the INR market. You can also choose to buy doegcoin in the USDT market, however you will first need to convert INR to USDT.

Tap on Buy/Sell > Set the price > Enter the INR amount > Tap on Buy > Swipe right on the next screen to confirm. The number of Dogecoins bought will now reflect on the Funds tab.

So, this is how you can buy Dogecoin in India using the WazirX app. You can also use the same cryptocurrency exchange app to buy Bitcoin in India or other cryptocurrencies.

FAQ

The post How To Buy Dogecoin In India In 2021? Dogecoin Price, Platforms To Buy appeared first on Fossbytes .