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Dogecoin price has seen a significant spike in its growth recently seen after breaking out of the news of Elon Musk buying Twitter
Till now, you might already have heard of the purchase of Twitter by Elon Musk and so many assumptions, deductions, expectations, and conclusions that drove the situation. One important and perhaps most notable instance that happened is the upsurge recorded in the price of Dogecoin, one of the favorite cryptocurrencies of Tesla’s CEO. People speculated after the acquisition of the social media giant; that Musk could bring a way to combine DOGE with Twitter anyhow, which will boost the popularity and acceptance of cryptocurrency and, ultimately, its price.
All other news has already been out there with details about how buying Twitter was initiated from Elon Musk’s end; the deal closed at around $44 billion. Here it will be presented to you if you are impressed with the recent performance of Dogecoin (DOGE) and want to be a part of its riding the wave or are hopeful that it will continue or can perform even better like never before. The information regarding joining the Dogecoin community and being a part of its exciting journey.
But before moving ahead with the beginner approach to move along to buy Dogecoin (DOGE) or any other crypto investment, you need to consider that crypto assets are volatile and risky. Always consider doing your research before putting your hard-earned money into any investment, be it in traditional markets or crypto, and follow the basic principle of investing enough that you can afford to lose.
In a nutshell, the basic procedure needed to follow for buying Dogecoin includes choosing a suitable exchange platform or crypto broker for yourself, then choosing a payment method; after paying, the complete buying process of Dogecoin, and finally, securely storing your purchased digital asset.
The process of buying Dogecoin (DOGE) starts with choosing a suitable crypto exchange platform. There are many options available for you on which you can start trading or investing according to your preference—Crypto exchanges like Binance, Coinbase, Huobi, FTX, Kraken, and many more. You would need to check if Dogecoin (DOGE) is available or not on the platform. At the same time, it’s also important to go through other crucial details regarding services, features, usability and after-sales support, etc. After selecting this, you would need to sync your details with the crypto exchange platform, and once completed with the account formalities; you’re good to go.
Since you have availed of the documentation and completed all the necessary formalities, your bank account has also been linked with your crypto exchange platform. Now you are ready to do the transaction where fiat currency in your account, for example, US dollars, will be deducted. The same amount of Dogecoin (DOGE) will start reflected in your crypto exchange account wallet. Finally, you come to the stage where you own Dogecoin (DOGE). You can add another security layer to your digital assets by keeping them with yourself in a hardware crypto storage wallet. Once doing that, you will have Dogecoin in your possession for the long term, or if you want crypto assets to trade frequently, you can skip storing them separately.
ALSO READ: Every Dog Has A Day, But Not Dogecoin As It Sheds 40K Holders
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
