How to invest in Dogecoin and why

The Doge community is a powerful force of change. It funded various charity projects across the world, helping to cure cancer in America as well as build water supply systems in Africa. Doge is not based on a unique technology; in fact, it is a Litecoin spin-off.

Although the coin itself traded for less than a penny for years, its quantity successfully compensated for the lack of quality, so to say. In case with Doge, community is the source of value.

Potential investors noticed Doge (and started to take it a little bit more seriously) after Elon Musk proclaimed himself “Dogefather” and started to pump the price of the previously insignificant coin.

Here is how to invest in dogecoin:

  • Don’t buy during the high. Doge prices skyrocketed at the start of May 2021: traders almost believed that it would hit $1 per coin giving the owners crazy profits. Yet it fell as rapidly in the following weeks, after Elon Musk expressed concerns about energy inefficiency of crypto. We hope you understand that buying at this point is anything but a good investment.
  • Don’t sell during the low. So the market is in the FUD stage right now. It is extremely hard to predict when we should wait for the next all-time high, and the price can keep plummeting as likely as flying to the moon overnight after another tweet. So what do you do?
  • Follow the news. Keep an eye on tweets of a particular person we mentioned in this article a couple of times. “China bans crypto”, “Mastercard announced bitcoin integration”, and the other crypto-related headlines indicate the upcoming change in the market.
  • Join a local community. Who else can teach a fellow doge-believer how to invest in dogecoin if not a fellow old-timer? Community will provide you with all the necessary tips and tricks. Some general Doge-related chat or forum will do, if it is impossible to meet in person.
  • Increase your economic literacy. There is always a way to enrich one’s knowledge regardless of the domain in question. Yes, it will turn into higher profits and lower losses overall. You can see experienced traders review the insights of their colleagues all the time – let’s take their example!

This general advice is true for all kinds of investments and cryptocurrencies. One question remains though: where can I invest in dogecoin?

Where to invest in Dogecoin

We guess that there are hundreds of cryptocurrency exchanges on the Internet and that you have already heard about the most popular ones. If you already looked for places where to invest in dogecoin, you must have noticed that Coinbase is going to add it anytime soon. In order to scatter the assets across multiple accounts, you’ll eventually choose a few exchanges for regular trade.

Of course, the list of great online exchanges is not limited to the ones we just mentioned. This is not a promo and not a financial advice.

As for the safe storage with an ability to withdraw the balance as fast as possible, with the best offer on the market, Trustee cryptocurrency wallet for iOS and Android is perfect. It allows you to sell and buy crypto for fiat money and swap it back and forth between available pairs.

Another place where to invest in dogecoin is Github. This way, you’ll invest personal time rather than money to facilitate the development of the Doge ecosystem.

We have also noticed our audience asking around, ‘How do I buy dogecoin stock?

Same rules apply: choose an exchange that appeals to you (or better, a few exchanges, to distribute the assets).

How to invest in dogecoin stock

Speaking of a “dogecoin stock” we mean all the Doge coins in existence, right? A cryptocurrency stock is not like a company stock, it is impossible to buy a share of a cryptocurrency because the latter is not a company.

This is why a person who asks, ‘How to invest in dogecoin stock?’ is putting it the wrong way. It is absolutely possible to buy some coins on one of the exchanges (e.g. the ones we listed above), and the effect is going to be basically the same as if you bought a company share.

Buy some doge in hopes that the demand for it will rise so much, its price will go even further up. It couldn’t be any simpler.

Why would the demand rise? Because the Dogecoin community introduces more initiatives and services or because the whole underlying technology sees a major productivity update, for example. We all know that dogecoin is a subject of Mr. Musk’s attention, so anything may happen.

If you believe that the mutual effort of all dogecoin contributors is enough to pump its price forever then finding a way, how to invest in dogecoin stock, is merely an expression of that belief. And, as we know, all currencies are held up by public trust.

Where can I invest in dogecoin

The lucky owners of Doge who acquired it sometime before 2021 have made a fortune by now – unless, of course, they chose to keep holding it.

On the other hand, Billy Markus and Jackson Palmer, the co-founders of Doge who stepped away from its development, think that the rise of prices is ridiculous. They didn’t benefit from Doge much themselves.

So what do you think, is Doge worth attention? Anyways, we have plenty of altcoins to choose from for you.

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