Investors in the cryptocurrency Dogecoin continue to gain silver as it is out performed by other cryptocurrencies in terms of returns. Dogcoin has a return of 8000% and Bitcoin has a return rate of about 92%.
As cryptocurrency started as a joke, investors in Dogecoin are constantly getting silver. Dogecoin has been in the news for the past few days and its value has risen 45% and is heavily overshadowed by cryptocurrencies such as Bitcoin. Dogecoin has now become the fifth largest cryptocurrency in the world by market cap.
The market cap of Dogecoin has surpassed Honda
The insanity of investors about Dogecoin can be gauged from the idea that its market cap has reached around $86 billion and has surpassed even a giant like Honda. Honda has a market cap of Rs.54.42 billion. Robinhood, one of the world’s most popular trading platforms, has crashed, prompting investors to speculate on Dogecoin. Due to this the WazirX the largest cryptocurrency exchange in India was also down for some time.
Start as a joke
Dogecoin started as a joke but thanks to the power of social media and mimes, it is now one of the most popular cryptocurrencies in the world. Dogecoin was started in 2013 as a joke by software engineers Billy Marcus and Jackson Palmer. Elon Musk, CEO of Tesla and SpaceX, posted a photo of a Dogue magazine. This led to a significant jump in the price of Dogecoin.
Musk has been assembled
Musk tweeted several times in support of Dogecoin in February. In the first tweet, he just wrote Doge. He then wrote, ‘Dogecoin is the people’s crypto’. In the next tweet, he wrote, ‘No height, no low, only doge’. Just then, the price of this cryptocurrency rose by 5 cents. It was trading at 3 cents before Musk’s tweet. This is not the first time that Musk’s tweet has raised the price of Dogecoin. Earlier on December 20, he tweeted One Word: Doge and increased its price by 20%.
How to buy dogecoin in India
Until 2018 it was not allowed to buy and trade cryptocurrencies in India. But in 2018, the Supreme Court changed that situation. Since then the crypto industry in India has grown significantly and millions of people have invested in crypto. Buying crypto is a very complicated process but it can be easily bought with the help of crypto exchange. In India, investments can be made through exchanges like Dogecoin CoinSwitch Kuber, WazirX, Coindex.
Here is the whole process
Install well-known Indian crypto exchanges like Coinswitch/WazirX/CoinDCX/Bitbns/Zebpay. Do an in-depth investigation before choosing an exchange. Create your account after verifying do KYC. Put your bank details / UPI details in the app. Once the bank details / UPI is registered, add money to the exchange. After depositing money in exchange, you can use it to buy Dezcoin or any other cryptocurrency.