How To Buy Dogecoin On Gate.io | Buy Dogecoin
Dogecoin is the first meme coin developed as a sarcastic dig at the world of cryptocurrencies. However, with time it became a serious investment entity for people across the globe.While many talks have surrounded Dogecoin in the last few months, there have been speculations about it reaching $1 or $10 or $100. Most experts said that the coin could reach $1 in the next few years and perhaps even $10 in the next decade, but $100 is pretty implausible.
Before we get into how you can buy Dogecoin with Gate.io, let’s look at the price history, trends, and digital currency’s market cap.
Dogecoin Market Cap, Price History, And Current Price Trends
Dogecoin was first launched in 2013, and today, its price is about $0.2. The volume of Dogecoins in circulation is 131 billion, and hence the market cap is about $31 billion.
The all-time high price of Dogecoin is $0.7376, and the cryptocurrency reached this value in May after Elon Musk mentioned that he would talk about Dogecoin at Saturday Night Live in his tweets.
However, he didn’t do so, and the price came crashing down; currently, the price of the digital currency is around $0.2.
Like most significant cryptocurrencies, you can buy Dogecoin on Gate.io. Here’s a simple process for you to follow to buy the crypto asset.
Steps To Buy Doge on Gate.io
1.Once you sign up for the platform, click on the trade tab on the Home page.
2.This tab displays the list of available trading pairs, so you select the one you require.
3.Mention the amount of Dogecoin you want to buy and the price you want to buy it for.
4.Type in your fund password and then place the order.
5.Once your order is completed, you’ll find the previously specified Dogecoin in your wallet.
Is Dogecoin Legit?
Lately, experts are seeing Dogecoin as a pump and dump type of cryptocurrency. After all, the cryptocurrency doesn’t have any purpose, and it doesn’t solve any real-world problems. Hence, in the long run, people do not have a reason to use the coin.
Furthermore, even if the cryptocurrency was legit, its distribution is pretty risky, with most of the current circulation volume being Hodl by one mysterious whale. This means the whale can dump their coins into the market at a moment’s notice and crash the price.
What doesn’t help Dogecoin’s case is the unlimited supply. The more the supply, the higher the deflation.
With factors such as these, Dogecoin does seem like a risky investment even if the cryptocurrency is legit. So do your research about the cryptocurrency and choose to invest in it wisely.
*This article only represents the views of observers and does not constitute any investment advice.
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