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Tech & Science, Dogecoin

How to buy Dogecoin as meme cryptocurrency's price goes up

How to buy Dogecoin as meme cryptocurrency's price goes up

4/12/2021 5:30:00 PM

How to buy Dogecoin as meme cryptocurrency's price goes up

A price spike came after SpaceX CEO Elon Musk , a known Dogecoin fan, teased on Twitter that an unnamed cryptocurrency was 'going to moon very soon.'

. This is not financial advice.A number of apps, including Robinhood and Cash App, let users buy Dogecoin but not to withdraw balances to personal wallets, meaning they can only be used in-app.Here are the broad series of steps that you will need to purchase the cryptocurrency:

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Choose a"wallet" that can be used to hold the Dogecoin on your computer or phone. The Dogecoin site recommends Multidoge and Dogecoin Core.Install and configure the Dogecoin wallet using the relevant setup guide. You will have to wait up to five minutes for the wallet to fully synchronize.

Buy Dogecoin via a crypto exchange and put them into your wallet. Withdrawing Dogecoins from the dedicated exchange account and into a personal wallet can help reduce the risk of theft if the exchange is compromised or hacked.Like Bitcoin, users can get Dogecoin by"mining," which uses your computing power to process transactions by other people—and obtaining Dogecoins in return. The official website comes with the disclaimer:"Mining is intended for advanced users only, as it requires a lot of technical knowledge to do." The

full guide is published online.In this photo illustration, visual representations of digital cryptocurrencies, Dogecoin and Bitcoin are arranged on January 29, 2021 in Katwijk, Netherlands. The price of the meme cryptocurrency dogecoin rose by around 20 percent on Sunday (April 11, 2021) after a cryptic tweet from Elon Musk.

Read more: Newsweek »

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