We’re all familiar with cryptocurrencies such as Bitcoin, Binance coin and Ethereum etc. Crypto currency is a computer programmed virtual currency which we can use to buy things. These currencies are based on computer algorithms. Nowadays, we can see a new crypto currency has become the center of attraction in the market. It’s known as Dogecoin.
People from all over the world are investing lots of money on it. The market value of Dogecoin is increasing day by day and it skyrocketed after the owner of the Tesla Inc. Elon Musk tweeted about it.
In this article we’re going to tell you every single thing that you’d know before investing in Dogecoins.
- What’s a Dogecoin ?
- Where to invest?
- What’s the market value and Why it is increasing day by day?
- How Elon Musk is involved?
- Dogecoin price in India?
- What’s a Dogecoin?
Dogecoin is also a crypto currency like Bitcoin, Binance coin and many other. Dogecoin was created by two software engineers Billy Markus and Jackson Palmer. They made it to purchase something that is free from traditional banking fee as Bitcoin is. By using dogecoin in future we can pay our hotel bills, buy home appliances, book a ticket or pay our bills as well as we can now using bitcoin. And all these payments will be tax-free all over the world. In the late 2013 Dogecoin started as a joke, but now its price is about to reach around $1 (or we’re secretly hoping so).
How can we invest? or buy a Dogecoin?
If you’re planning to bet on Dogecoin, be cautious because it’s risky and most probably you’ll lose. But the current scenario is that the price of Dogecoin is increasing sharply. You can easily invest by signing up on a crypto currency exchange (There are many…Wazirx, Robinhood, Binance etc.) and start buying Dogecoins.
What’s the market value of Dogecoin?
Well, it started as joke to cryptocurrencies. Back in 2013 when Dogecoin was actually started as a joke its value was around not more than 10 cents. But now in May 2021, it crossed the $0.71 mark and hopefully it’ll increase sharply. Seriously it has come very far. Earlier People believed it wouldn’t cross even 10 cents.
Why is it increasing day by day?
Doge is the underdog of crypto world. In December 2013 when Dogecoin was launched, many people passed comments on it. They took it as a joke and predicted it won’t go as far as ten cents but let me tell you. They were wrong. And by 71 cents I’d say.
According to a report on CNBC Dogecoin has been risen more than 26, 000% in last few months. This joke cryptocurrency got a boost after the owner of Tesla group Elon Musk tweeted about it.
Let me tell you how Elon Musk and Tesla came into picture…;
On 15 April 2021, the CEO of Tesla and SpaceX company Elon Musk just tweeted an art of a Spanish artist by editing its real title of 1926
” Dog Barking at The Moon” to “Doge Barking At The Moon” referring to cryptocurrency Dogecoin. It worked as a spark and the price of Dogecoin increased over the week. You know how people are on social media…right!
Dogecoin & India;
Many people are interested in investing in Dogecoin cryptocurrency not just from the other part of the world but also from Indian too. You see there are 1.3 Billion people here ..so you do the math. Indians are buying Dogecoins and different cryptocurrencies such as Ethereum and Ethereum classic and even Bitcoin. The cost of one Dogecoin was around 57 rupees in India few days ago. But after Elon Musk visited SNL last Saturday and called dogecoin a ‘hustle’ (isn’t everything?) It fell…like literally to 50 cents.
Well, HODL! That’s what I’m doing.