How To Buy Dogecoin in 2022

What is Dogecoin? When it comes to currencies like Dogecoin, it’s essential to understand the basics before diving right in.

Today, the digital currency has a huge community, and the general market sentiment towards Dogecoin is becoming more and more favorable.

It’s important to remember that to invest in Dogecoin is the same as investing in any other vehicle: you need to do your research and set up realistic expectations.

Dogecoin IS at a very high value (as of this writing). It does not have the revenue of stocks supporting its market capitalization (in other words, Dogecoin is fueled purely by investor sentiment).

Before diving into Dogecoin, make sure you decide on a reasonable amount that you’re going to purchase.

To buy Dogecoin, you’ll need to open an account on a cryptocurrency exchange. This exchange is an online place where buyers and sellers meet to buy-and-sell cryptocurrencies.

If you don’t want to go through the trouble of opening an account, you can also consider using the investment platforms that you already have.

Before buying any crypto-currency or making trades, you’ll need to deposit some money in your account. Most exchanges will let you deposit money directly from a chequing or savings account.

Some people prefer to keep their coins in a cryptocurrency wallet (or blockchain wallet). These are designed to prevent thieves (hackers) from stealing your digital money like genuine wallets.

Though Dogecoin is not a fiat currency (and blockchain IS considered “untraceable” with anonymity), you’ll likely need to pay capital gains tax if you make money online when selling it.

As always, be sure to do your research before making any financial decisions. That being said, once you’ve decided on an appropriate amount to invest, don’t be afraid to dive in.

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