Why invest in Dogecoin
The Dogecoin cryptocurrency was launched in 2013 and created out of a meme theme. The asset, although, has become tradable with no social media support but with the encouragement of the investment community that covers more than 114,845 like-minded subscribers on Reddit. The reason why the followers are so passionate is that the coin is an open-source peer-to-peer digital currency implying free share and transparent publishing.
Over 125 billion Doge is currently in circulation, which tells a lot about its potential. It has been increasing in value and may reach around $0.0126 translating to a 400% uptrend in the next 5 years per its supporters’ predictions. If, for instance, 1 DOGE is shortly equivalent to $1, one would be making ROI starting with $100 worth of contribution. These prognoses make Dogecoin a long-term investment in 2020.
CoinMarketCap has declared about the 24th position of Dogecoin with a total digital asset market capitalization of $279 million. DOGE can be acquired for $0.002371, and the price is driving active trading; while growing in price, it will remain affordable.
Another cause of the attraction to the crypto coin is its normal stableness. It also has a sufficient inter-exchange relationship with such gigantic e-currencies as BTC, ETH, LTC, BCC, USDT, and with fiat like USD, GBP, EUR, CNY, INR. The blockchain including Doge serves as micropayment transaction solutions that sort out various ignored problems by payment hideaways, in particular, intermediation charges, privacy and confidentiality, and more.
One more reason is the cheaper cost in comparison to other digital currencies in the crypto market, which provides a faster return on financing. The low price means applicability for micropayment services that allow investing confidently, yet simultaneously the asset benefits the ability to double in price unlikely to the rest. The use of Doge does not require any professionalism, in fact; on the opposite, anyone can invest, contribute, and have more in return, so the commitment of big amounts of cash is unnecessary.
Dogecoin has been able to withstand the universal stock market crashes with a sharp rise in prices, which inspires trust. These unpredictable price spikes and drops were never conducted by media hype, which is a characteristic of being an important tool for its audience that boosts the usability of DOGE by user tip creativity facilitation in the entertainment industry. The coin can simply be swapped with very small fees, is truly liquid as compared with other low-priced assets, and is equivalent to larger coins in transfer utility.
How to buy Dogecoin with BTC
The procedure may be completed through Exodus. The steps consist of downloading and installing Exodus first; the platform offers an easy-managing DOGE wallet. Once done with stage one, you will have to scroll down and pay attention to the left-hand side where the crypto you would like to trade for Doge is. Open the wallet, choose the “Receive” option, and send the crypto to the address given. After the finalization of the transaction, click on the two arrows to the right of the “Receive” button. This action leads to the exchange page where you select the desired amount of Doge on the right-hand and tap on “Exchange”; no registration, sign-ups, personal information are requisite, which enables faster, more convenient, and private usage.
The additional alternative for the same purpose contains the following actions: the acquisition of a Dogecoin wallet via either Ledger or Coinomi; Dogecoin address insertion; Bitcoin deposition into the exchange; Bitcoin for Doge interchange, and the withdrawal of Doge.
How to invest in Dogecoin anonymously
The Dogecoin network is anonymous like many other blockchains, therefore the clients can utilize it without tax authorities’ awareness. The advanced encryption of an individual account and transaction details allow easy, speedy, of any volume, and with fixed-rate trades and buying-selling on 1 doge to btc. Any operation can be done with no third party involvement or getting caught.
Some of the ways of purchasing a cryptocurrency, including Doge without ID verification contain peer-to-peer marketplaces where the middleman is needless. The point is to contact the seller for the deal directly and to primarily settle for a higher price. Prepaid cards are another option, yet they are not that widely accepted and spread; time-consumption and high fees are guaranteed. The actions of customers are buying a regular card similar to a Visa gift card at some supermarket and loading the card with cash on it for trading.
Gaining a coin anonymously seems fun, yet it is pretty difficult for the reason of regulators still getting incorporated in the whole matter. Thus, US-based interchanges and buying-selling always require ID validation. The users, to avoid that and to protect their privacy, have figured several steps for keeping the processes confidential:
- Using a new address for every single transaction and business deal.
- Opening, maintaining, and applying various wallets for separate activities.
- Mixing service provides any data anonymization and combines clients’ payments into a single transaction, which makes it challenging to control.
- Hiding IP address and exploiting VPN instead to prevent being connected to one’s cryptocurrency wallet address in the course of any procedure.
Overall, obtaining crypto coins on the condition of anonymity allows financial information privacy and time saving from the long ID confirmation transaction. On the other hand, the same action may be highly complicated at times over easy and fast purchase with ID. It also can be more cost-effective; usually, the minority of crypto is available for ID-free purchases, and the risk of getting undesired and unexpected attention can be high.
