Dogecoin is an open-source, peer-to-peer digital currency that enables instant payments to anyone, anywhere in the world. It’s a member of the Litecoin family and has similar features such as low transaction fees, ease of use, security, and decentralization.
The price of Dogecoin has been on a steady rise since its launch back in 2013. The coin was initially valued at $0.0004, but it rose to $0.0011 by January 2014.
By March 2015, the price had been increased to $0.0030, which was a fivefold increase from its initial value. As of July 2016, the cost of Dogecoin stood at $0.0125.
The Dogecoin market cap currently stands at $1,828,907,715 with a circulating supply of 5,621,527,788 coins.
Dogecoin is a cryptocurrency created in December 2013 by Billy Markus and Jackson Palmer, who were inspired by the Shiba Inu dog meme. The name “Doge” comes from the popular internet meme of a Shiba Inu dog.
The creators of Dogecoin wanted to create a decentralized form of money that would be useful for microtransactions online. They also wanted to ensure that their currency could not be controlled or manipulated by any central authority.
In order to achieve this goal, they used a proof-of-work system called Scrypt. This ensures that no one can control the supply of Dogecoins because the amount will always be limited.
Dogecoin can be bought using credit cards like Visa and MasterCard in Singapore. However, you need to have a bank account in order to purchase the coin. You can then store your coins in a wallet where you can send them to other people.
You can also exchange your fiat currency into Dogecoin through the website: www.coindirect.com.sg.
How To Buy Dogecoin in Singapore?
If you are looking forward to purchasing Dogecoin in Singapore, you should first register yourself on one of the above-mentioned exchange platforms. After registering yourself, simply follow the instructions given below to complete your purchase.
Step 1: Visit the website of the exchange platform where you plan to purchase Dogecoin.
Step 2: Create your account with all the required details.
Step 3: Select the currency pair (USD / EURO) you wish to trade.
Step 4: Click on the “Buy” button.
Step 5: A pop-up window will appear asking you to confirm your order. Confirm your order by clicking on the “Confirm Order” button.
Step 6: Wait till your order gets completed. Your coins will be credited to your account within a few minutes.
Step 7: You can now withdraw your coins to your bank account or debit card.
Note: Before making any transactions on exchanges, always ensure that you have chosen the right exchange platform. Also, never deposit more than you intend to withdraw. This is because if you deposit more money than what you plan to withdraw, then you may end up losing all your money.
How to Sell Dogecoin in Singapore?
You can also sell your Dogecoins on these exchange platforms. Follow the same steps as mentioned above to complete your sale. However, instead of buying, you will be selling your coins.
Also Read: Is Dogecoin a Good Investment?
Where Can I Buy Dogecoin in Singapore?
There are several places where you can buy Dogecoin in Singapore. These include:
- LocalBitcoins: A peer-to-peer Bitcoin marketplace where you can buy and sell Bitcoins directly from each other.
- CoinExchange: An international exchange platform that allows users to trade between different cryptocurrencies, including Dogecoin.
- Coingi: A local exchange service based in Singapore that offers trading services for more than 300 cryptocurrencies.
- Coins.Ph: Another local exchange service based in Singapore allows users to trade among more than 100 cryptocurrencies.
- Bitbns: A mobile app-based exchange service that allows users to buy and sell bitcoins and other cryptocurrencies.
- CEX.IO: A global bitcoin exchange that allows users to buy, sell and margin trade bitcoin against USD and EUR.
- Binance: One of the largest exchanges in the world that trades many cryptocurrencies, including Dogecoin (DOGE).
- Huobi: A Chinese crypto exchange that supports both fiat currencies and cryptocurrencies.
- OKex: A Korean crypto exchange that supports both BTC and ETH.
- KuCoin: A Hong Kong-based crypto exchange that supports both USDT and DOGE.
- Gate.io: A US-based crypto exchange that supports various altcoins, including Dogecoin. It is one of the most liquid markets for buying and selling Dogecoin.
- CoinDirect: This Singapore-based company allows users to buy and sell cryptocurrencies like Bitcoin, Ethereum, Ripple, Dash, Monero, Zcash, Litecoin, etc.
- LocalBitcoins: This is another platform where you can trade Dogecoin against other currencies.
- Cryptopia: This is a New Zealand-based crypto exchange offering more than 50 altcoins trading services.
- Bittrex: This is a US-based crypto exchange that allows users to buy Dogecoin using USD, EUR, GBP, JPY, CNY, HKD, and AUD.
- Bitfinex: This Hong Kong-based crypto exchange supports trading services for more than 40 cryptocurrencies, including Dogecoin.
- HitBTC: This is a Malta-based crypto exchange that allows you to buy/sell Dogecoin using BTC, ETH, and LTC.
- Kraken: This is a US-based crypto exchange that supports trading for more than 80 cryptocurrencies, including Dogecoin and Litecoin.
Also Read: Dogecoin Mining Pool
Advantages of Buying And Selling Dogecoin Using The Exchange Platforms
The main advantage of buying or selling cryptocurrency using an exchange platform is that it provides a safe and secure way of exchanging money.
Since these platforms have been built with security as their top priority, they ensure that all transactions occur safely and securely. They also offer some additional advantages such as:
If you encounter any issues while transacting on an exchange platform, then you will get immediate help from customer care representatives who are available round the clock.
Low Transaction Fees
Most of the exchange platforms charge very low transaction fees, which makes them ideal for those who want to make small purchases.
Once your order has been placed, the funds will be transferred instantly into your wallet. You do not need to wait for days before you receive your coins.
No Third-Party Involvement
Unlike banks, no third party is involved when you use an exchange platform. You directly deal with the seller or buyer.
Multiple Payment Options
Many exchange platforms allow you to pay for your orders using credit.
Unlike banks, there are no limits on how much money you can transfer through an exchange platform.
All the information stored by the exchange platform is encrypted so that only authorized people can access it.
Easy Verification Process
In case you wish to verify the identity of the person you are dealing with, you can easily do this by verifying his/her email address or phone number.
There are many verified sellers on most exchange platforms. These sellers are required to provide identification documents such as passport, driving license, utility bill, bank statement, etc.
In Singapore, Dogecoin is traded at SGD 0.001346. It has a market cap of $2,939,895 and over 2,000 active traders. With its current price, you would be able to purchase 1,732 Dodge Coins at SGD0.001346.
Also Read: Can Dogecoin Reach $10000?
In conclusion, Dodge coins in Singapore are available on various exchange platforms. So, before investing your hard-earned money, make sure that you choose the best platform from which you can get maximum benefits.