Buy Dogecoin (DOGE)
Nowadays the Internet is not just a global network for entertainment, communication and information storage; it is a powerful tool that allows paying for goods and services. In conditions of fast pace of life, the speed of payment for a particular service or product is very important. The need has arisen for a reliable, fast and efficient payment system that can meet the demands of buyers and sellers. In this context, electronic money and electronic payment systems were invented.
The transformation of the types of money is due to the influence of the regular development of society. A new kind of money appears in accordance with economic necessity, when the previous kinds of money begin to hinder the process of production and exchange.
Electronic currency is a monetary obligation of the issuer to the holders, which is comparable in denomination to the real money deposited in the electronic system. The task of any electronic money is, above all, to create a universal payment environment capable of bringing together the buyer and seller of goods and services. The main difference between cash and electronic non-cash money is that electronic money is issued (emitted) by an organisation, while other money is issued by the country's Central Bank. A commercial bank, on the other hand, can be an issuer of electronic money.
Cryptocurrencies are a type of electronic money, the functioning of which is based on a decentralised mechanism of issue and circulation, which is a complex system of information and technological procedures.
In our review, we will look at one of the popular cryptocurrencies - Dogecoin. It is in demand among traders and investors due to its rising exchange rate, high liquidity and prospects for further development.
Dogecoin: a cryptocurrency worthy of attention
The cryptocurrency Dogecoin (DOGE) is one of the most recognisable coins. Its official appearance dates back to 2013 and is owned by two American programmers, Billy Marcus and Jackson Palmer. The original idea was to create a mock coin with a Shiba Inus dog as the face of the coin. This digital coin was meant to cement the popular Shiba Inu dog meme, dubbed 'Shiba', which has remained popular over the years. The image of the dog became the symbol of the cryptocurrency and made its way onto the logo.
Dogecoin has a lot in common with Bitcoin, the most popular digital currency. Like Bitcoin, Dogecoin allows peer-to-peer transactions. However, one big difference between Dogecoin and Bitcoin is that there is no limit to the amount of Dogecoin that can be issued into circulation. Bitcoin, on the other hand, has a limited supply of 21 million coins that will ever be released.
The developers aimed to move as far away as possible from all ties to bitcoin, which they saw as a shadow market cryptocurrency. Over the years, Dogecoin cryptocurrency has not only become popular and liquid, but also has a close-knit community.
DOGE has often been used for rapid tipping on Reddit and Twitter. The coin shows tremendous potential for micropayments, something that even many large cryptocurrencies do not have.
Want to take part in the Dogecoin boom? We'll tell you how to buy DOGE in Singapore and everything you need to know about this popular cryptocurrency.
How to invest in Dogecoin in Singapore
Investing in Dogecoin is all about investing your economic resource to generate returns that should exceed your initial investment. Investing as a way to earn additional, and sometimes primary, income has its advantages. Let's look at the strengths of investing in Dogecoin:
- Without much effort, you have the opportunity to generate income. All you need to do is choose which project you want to invest the available funds in.
- The opportunity to make a bigger profit. It is important to keep in mind that the potential amount of profit depends directly on the volume of investments made.
- Investing is promising. If you estimate the situation wisely, and invest in Dogecoin in Singapore, you can provide yourself with a comfortable life for many years ahead.
- Investing will protect your accumulated capital from the effects of inflation.
Every day, DOGE's reputation reaches new heights. This is driven by the increasing use of cryptocurrency and the use of digital currency by major online retailers. This allows DOGE to grow at a rapid pace. Learning about cryptocurrency, its advantages, is the main task of an investor. You can easily learn how to invest, because there are so many opportunities to do so. Almost all modern online platforms offer free educational resources - articles, mobile applications, tutorial videos, etc.
How to buy Dogecoin in Singapore?
DOGE began trading on December 15, 2013 at $0.0006. Already in 5 years, its value has increased 10-fold. From this we can conclude that buying this popular cryptocurrency is a profitable investment.
You can buy DOGE on the Crypto Exchange. DOGE is present on many exchanges: Binance, EXMO, Currency.com, Yobit, Huobi, FTX, Crex24. They also provide financial transactions in fiat, i.e. traditional currencies: roubles, dollars, euros. Available payment systems: Qiwi, Neteller, Skrill, Visa/Mastercard, Advcash, Perfect Money etc.
You can buy Dogecoin in Singapore through an online broker on the trading platform. To do so, it is worth registering and then making your deposit. Set a budget for buying digital coins - this will help you protect your savings and avoid unexpected losses.
Traders have the option of using leverage - this allows you to pay only a small fraction of the wager you want, and to borrow the rest from your broker.
You have a choice of long-term or short-term strategies. The long term strategy involves waiting for the cryptocurrency value to rise for a long time in order to increase your profits. If you choose this strategy, you can make high cash investments and have a longer expectation of profit. One of the advantages of long-term investments is that you don't have to worry about market volatility. If you are interested in a short term strategy, it is worth learning about CFDs. CFD (Contracts for Difference) is a unique way to trade cryptocurrencies online without the need to own the asset. CFDs allow you to speculate on price movements, while you get all the benefits that come with trading cryptocurrencies, but without owning them. If you are interested in short-term investments, this is a good choice. With a short-term strategy, you aim to make smaller profits but much more often. For this strategy, it is possible to make several trades in a small period of time. Dogecoin has great potential. The value of the coin can rise sharply on just one tweet. While the hype itself seems to have faded a bit, the forces that pushed Dogecoin to new record highs have not subsided.
All it might take for Dogecoin to take off again is another tweet from Ilon Musk or a new social media push.
How do I register?
Just a few steps allow you to quickly and easily register on the investment platform. First step: go to the website of the brokerage company and click on the "register" button. On the registration form please give your email, enter your password. Second step - confirm your email using the link the system will send you. To start with these details will be enough to get acquainted with the system. Then, when you want to make actual transactions and withdraw funds, the system may ask for additional information to confirm your identity (copies of your identification documents).
Once you have registered, you can choose whether to open a demo account or a live trading account.
How do I open a demo account?
Most traders start their trading with the question: should they open a demo account or go straight into live trading? What is the difference between a demo and real account? After I learn how to trade, will I be able to trade successfully on a real account?
A demo-account is a free training account, which is similar to a real one. You will be trading with virtual money. Opening a demo account is a matter of minutes, and should not be too difficult for a trader. You can use it to hone your trading skills, study the market and develop your trading strategy in comfortable conditions and without any risks.
How do I open a live account?
After having tested the features of the trading platform in Singapore, you may proceed to a live trading account:
- Login to your account on the trading platform.
- Choose the asset you wish to trade. The trading platform offers you a wide selection of cryptocurrencies, as well as good opportunities for beginners.
You can fund your account whenever you want and set a minimum monetary threshold to open an account. Everyone should be guided by their financial capabilities. If you have a desire to open an unlimited number of assets, this is a good way to maximize your profits.
How do I make a deposit?
The main advantage of the investment market is that you don't need a large initial capital to get started. Funding your trading account to invest in Dogecoin in Singapore is very easy. You can choose the payment method that suits your needs on the investment platform. This can be credit or debit cards, bank transfers, or payments via electronic platforms. To make a deposit, select the payment method. Then, choose the type of currency you will be using. Enter the desired deposit amount and fill in the details (if using a credit or debit card).
How do I withdraw my money?
Login to your personal cabinet and apply for withdrawal from your account, go through verification. Verification allows to exclude fraud and confirm that the account belongs to you. For withdrawal you may use the same methods as for depositing to your trading account. This can be through credit cards, debit cards, bank transfers or e-wallet transfers.
One of the important things you may be most concerned about is security. Know that by choosing a reliable broker and a safe online network, your investment will be safe.
Online trading platforms offer everyone the opportunity to try their hand at online trading. Pay attention to the benefits of the platform:
- training on a demo account;
- a wide range of assets;
- fast withdrawal of funds;
- 24 hour technical support.
You can also go beyond your computer and download a mobile version. Trading via mobile app means free online trading training, the ability to trade from anywhere, a simple and user-friendly interface, and the ability to download the app on both Android and iOS.
Dogecoin is an almost "immortal" cryptocurrency. Memes about it will live on forever. Although created as a joke, the cryptocurrency has become very popular thanks to its community and marketing policy. The Dogethereum project is about to launch, which will combine the two blockchains. Against this backdrop, the value of the coin is rising, despite a falling market in early autumn. Buying Dogecoin could be a good investment.