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The know-how of buying Dogecoin in India

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Shivangi Mujumdar Follow


May, 18 2021

May, 18 2021

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Dogecoin is a form of cryptocurrency that is frequently popular with celebrities such as Tesla Inc, CEO Elon Musk and Snoop Dogg. They have taken the imagination of people around the world. It is very well known that the cryptocurrency has run up 4,204.38% from the year initiated hitting an all-time high of $0.43.


In the release, dogecoin has traded 27.23% lower at $0.21. Investors in India might need to handle the action. It is unpredictable due to volatile market conditions. An action-packed cryptocurrency can do so by buying it in a local or foreign exchange.


The highlights to buy dogecoin explained below-


Buying DOGE In India: There are several ways to fund DOGE procurements. At the minute, it is thinkable to acquire a DOGE by paying for it through a credit or debit card. As well as by the multiple electronic wallets and bank transfers. Also, it needs hardware or a software wallet to store purchased coins. All these things help in the smooth going of the transaction.


The WazirX exchange offers the DOGE/INR duo along with DOGE/Tether (USDT) and DOGE/Wazir X (WRX) pairs. In the release, a single DOGE was on sale on WazirX for INR 17.30. The token related to Wazir X — WRX traded 18.77% lower at $2.43 at press time. DOGE is also obtainable from exchanges such as CoinSwitch and BuyUcoin in India. At the press release on BuyUCoin, DOGE was selling in value of INR 16.69.


Buying DOGE From India: An alternate option for Indian investors is to use stable coins such as USDT or USD Coin (USDC) or Bitcoin (BTC) and other cryptocurrencies. It assist to fund their purchases from international exchanges such as Bittrex Global, Binance, or Poloniex.


Investors can secure their cryptocurrencies on these exchanges and then buy DOGE. This of course welcomes more transaction costs and fees. Investors can contact Bitcoin purchases through peer-to-peer exchanges such as through local exchanges or localbitcoins.com.


BTC traded 6.95% lower at $49,890.36, though Ethereum(ETH) traded 6.42% lower at $2,254.82 at press time. Its legal implications can be guessed; there are almost 7 million Indians that hold over $1 billion in cryptocurrencies.


To sum up, Indian citizens should be conscious that the country’s federal government is considering a blanket cryptocurrency ban. It will penalize investors must it become law of the land. Still, a delay to the introduction of the bill increases hopes that the government is learning the issue further, as per the local Indian media.


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Shivangi Mujumdar

CBW - External Analyst


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