Before buying Dogecoin, it is worth learning more about the project. The fact is that it differs from others on the market. Several crypto community members believe that the originality of Dogecoin will help the cryptocurrency grow, while others, on the contrary, do not see anything special in the coin.
Offer to make sense of what it represents dogecoin, and worthy of your investment if cryptocurrency.
Why invest in Dogecoin
The cryptocurrency is supported by one of the most famous and influential businessmen – Elon Musk. He, among other things, is engaged in solving issues of improving the project and hints that in the future, Doge may be included in the list of assets to pay for Tesla cars.
Doge has shown good growth on several occasions. It can be assumed that Elon Musk and co will repeatedly contribute to the positive movement of the coin.
The hype around the asset is supported not only by the founder of Tesla. The cryptocurrency is also periodically pamped on other platforms. For example, in the summer of 2020, Doge took off against the backdrop of the TikTok challenge.
SpaceX accepts the coin as legal tender. Not every project can boast of such an achievement. The support of a cryptocurrency by such a large organization significantly increases its status in the digital asset market.
In the wake of the hype around Doge, which Elon Musk launched, many companies announced the start of accepting the coin as a means of payment for their goods and services. For example, there are many offers for those looking for what can be bought with Dogecoin at the Newegg online store. Coin holders can also pay for tickets to the “Dallas Mavericks” NBA sports club and even buy the Latvian airline airBaltic. The acceptance of cryptocurrency by large stores maintains its value.
Why you shouldn’t invest in Dogecoin
There is nothing special about the project from a technical point of view.
The hype around Dogecoin can fade as fast as it flared up.
The coin has become an object of speculation in the market. There are risks of falling victim to the dump.
Should you buy Dogecoin on HYIP?
In most cases, the asset price rises on the hype. Often, positive movement will drive coins to levels that are not in line with their real value. As a result, there is a price bubble that can burst. Therefore, buying cryptocurrency at the peak of the hype is an extremely risky decision.
Where can you buy Dogecoin?
One of the options for finding an answer to where you can buy Dogecoin is a cryptocurrency card on the popular CoinMarketCap digital asset market data aggregator platform. In it, in the “market” section, you can find a list of exchanges, the listing of which has a coin. You can also use a P2P Crypto exchange to buy dogecoin with PayPal from all over the world in a more privacy oriented way.
Those wishing to buy Dogecoin should study all the nuances of the project to decide based on facts, not emotions. In most cases, buying assets at the peak of the hype due to the likelihood of overpricing in the market may not be the most profitable decision.
At the same time, those who enter the market at the beginning of the first wave of the project’s popularity can make good money.