Dogecoin is a crypto currency created by software engineers Billy Markus and Jackson Palmer, who decided to create a payment system as a joke, making fun of the wild speculation in crypto currencies at the time. Dogecoin is a crypto currency, like Bitcoin or Ethereum—although it’s a very different than either of these popular coins. Dogecoin was originally created as a lighthearted joke for crypto enthusiasts, and took its name from a once-popular meme.
ORIGIN: In 2013, software engineers Billy Markus and Jackson Palmer launched the satirical crypto currency as a way to make fun of bitcoin and the many other crypto currencies boasting grand plans to take over the world. They called it dogecoin – pronounced “doje coin” with a soft “g” sound – after the once-popular “doge” shiba inu meme. Its purpose? To be a faster but “fun” alternative to bitcoin.
WHY IS DOGECOIN VALUE GOING UP?
Dogecoin, which began as a joke, has gained celebrity support from people like Elon Musk and Snoop Dog, rock musician Gene Simmon driving up the price. The key explanation for the price increase is said to be the rising value of other crypto types such as Bitcoin and Ethereum, which has propelled the value of Dogecoin. The DOGE run seems to be unstoppable. Now as the prices reached a new peak, the meme crypto currency briefly replaced the payments-focused XRP as the fourth-largest crypto currency by market capitalization.
Despite this unusual origin story, it has exploded in popularity in 2021—as of writing, Dogecoin has become the fifth largest crypto currency by market cap.
HOW TO INVEST IN DOGECOIN FROM INDIA?
Buying crypto can be a complicated process, but there are crypto exchanges that make buying crypto fairly easy for a layman. Crypto exchanges are apps/websites that allow regular people not familiar with trading to invest in crypto in a fairly easy manner by investing their fiat currency. In India, crypto investors can open accounts on any of the Dogecoin-supporting crypto exchanges including WazirX, BuyUcoin, and others. Interested individuals can buy Dogecoin using a debit or credit card, bank transfer, IMPS transfer from the available platforms.
The following steps can be great help for owing your Dogecoin currency in India:
1. Install a reputed Indian crypto exchange such as Coinswitch/WazirX/CoinDCX/Bitbns/Zebpay. Make sure you do your research before you settle on choosing an exchange
2. set up your account by registering and verifying your KYC. Make sure you enable 2 Factor authentication to make your app super secure.
3. add your bank details/UPI details to the app. You can add money to the exchange once your bank details/UPI are registered.
4. once the money has been deposited into exchange, you can use it to buy Dogecoin, or any other crypto currency available for purchase.
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