Every dog has its day, and in the world of cryptocurrencies the luckiest dog recently has been Dogecoin . Everyone from Elon Musk to Mark Cuban has voiced their enthusiasm for the original meme cryptocurrency, setting it on a meteoric rise of more than 7,000% over the first half of 2021.
While its price has been wildly volatile, with a massive drop in mid 2021 from its all-time high of just over 70 cents per coin, Dogecoin continues to be a popular crypto option. If you're wondering how to buy Dogecoin, here's what you need to know.
Consider How Much You Want to Invest in Dogecoin
While there are viral stories of people who invested trivial amounts in DOGE but are now millionaires, invest with caution. Cryptocurrencies are very risky investments, and Dogecoin is uniquely volatile because it has an unlimited supply.
Here's how that works: For Dogecoin's price to increase or even remain steady, investors have to buy more coins continually. Otherwise, the supply of DOGE rises rapidly and diminishes the value of all the coins already in circulation (think inflation on steroids). In fact, the limit on the number of Dogecoins was expressly removed by one of its creators to discourage people holding onto it long term.
While its price has been wildly volatile, with a massive drop in mid 2021 from its all-time high of just over 70 cents per coin, Dogecoin continues to be a popular crypto option. If you're wondering how to buy Dogecoin, here's what you need to know.
Consider How Much You Want to Invest in Dogecoin
While there are viral stories of people who invested trivial amounts in DOGE but are now millionaires, invest with caution. Cryptocurrencies are very risky investments, and Dogecoin is uniquely volatile because it has an unlimited supply.
Here's how that works: For Dogecoin's price to increase or even remain steady, investors have to buy more coins continually. Otherwise, the supply of DOGE rises rapidly and diminishes the value of all the coins already in circulation (think inflation on steroids). In fact, the limit on the number of Dogecoins was expressly removed by one of its creators to discourage people holding onto it long term.
