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Memecoins have been the rave of the crypto market in the past year. Although still a fairly new meme coin, Baby Doge Coin has since grown into one of the top meme coins in the crypto market. This rapid growth has led investors rushing to buy Baby Doge UK.
This guide will show you how to buy Baby Doge UK and the best place to invest in the meme coin for low fees.
You can buy Baby Doge Coin if you reside in the UK. Simply follow these quick steps to buy Baby Doge Coin from recommended crypto broker eToro.
Baby Doge Coin is named after Dogecoin, the foremost meme token. Baby Doge is regarded as the baby token of Doge Coin, with Dogecoin being the father token.
Baby Doge aims to improve what Dogecoin has been known for by facilitating improved transaction speeds and adding a touch of cuteness that babies come with.
The meme token was launched in June 2021 and has set its sight on becoming the preferred digital currency for pet charity, creating non-fungible tokens (NFTs) and other ventures.
Holders of Baby Doge get to earn more of the token by simply holding the token. Every time a Baby Doge Coin is traded, a 10% fee applies. 5% gets distributed proportionately to all holders of the token, while another 5% is split and used for a liquidity pool with Baby Doge Coin and Binance Coin (BNB) on PancakeSwap.
Thus, you can decide whether to get rewarded by keeping your Baby Doge Coin or you lose 10% for trading the token. With this, holders of the token will keep accumulating more and more of the token without lifting a finger.
Baby Doge is already seeking a strategic partnership that will see some real-world application added to the meme token in the days to come.
According to the whitepaper of Baby Doge Coin, the memecoin has set out to achieve a couple of milestones which include launching a decentralised exchange (DEX) for crypto swap (Baby Doge Swap), offering credit card crypto payments on the Baby Doge Coin website, creating a wallet for holders to track their rewards, and also starting an NFT marketplace.
There are quite a few pertinent reasons why you should invest in Baby Doge UK. Some of these are:
Baby Doge can process transactions at lightning speed. The puppy-themed crypto asset can process transactions 10 times faster than Doge Coin. This scalability that Baby Doge offers is one of the reasons why you should invest in the token.
Another area where Baby Doge Coin is viewed as an upgrade to Dogecoin is in the aspect of transaction fees. Baby Doge does not just process transactions quickly, but it also does so for extremely low fees reported to be less than a penny in value.
Some renowned crypto exchanges like Pancakeswap, Okex, and Uniswap have continued to list Baby Doge Coin as the digital asset that continues to gain massive adoption. Much like Shiba Inu, Baby Doge is already becoming a darling among crypto investors.
NFTs have been a revelation so far this year, with several of these unique digital collectibles selling for huge amounts of money. Baby Doge has plans in the pipeline to create its marketplace for NFTs. This innovation will surely influence the token price to rally once the digital marketplace is up and running.
Baby Doge Coin has been on the rise, presenting investors with a good opportunity to buy Baby Doge Coin and ride with the market.
The asset's price rally is coming on the back of the broader crypto market, trying to turn the corner and shake up the massive downtrend that has engulfed the market in recent weeks.
At press time, Baby Doge Coin is trading at $0.000000001496, up 3.09% in the last 24 hours. On the weekly margin, the baby currency of Doge Coin has gained 9.27% in the last 7 days.
The market cap of Baby Doge Coin stands at $393.87 million. The 24-hour trading volume of the digital asset is $3.6 million, up 16.63% in the last 24 hours.
The tokenomics of the crypto asset shows that Baby Doge Coin has a total supply of 420 quadrillion tokens while the circulating supply is currently pegged at 125 quadrillion tokens. However, the network protocol has succeeded in burning about 30% of the total supply.
Baby Doge Coin is trading below the 20-day moving average(MA) support price of $0.000000001569, indicative of a bearish run.
The 14-day relative strength index (RSI) of 100 shows that the asset is trading in the overbought region; this points to investors rushing to buy Baby Doge Coin.
The moving average convergence divergence (MACD) shows the green trendline indicator soaring above the orange trendline, signaling a strong buy order.
On fundamentals, the world's largest no-kill animal rescue, and adoption organisation, North Shore Animal League America and Baby Doge Coin recently announced a partnership on December 15. This partnership seeks to fund animal rescue and promote awareness.
Baby Doge donated an initial $150,000 but will in the future also add Baby Doge wrapped mobile rescue units, interstate animal transports, and other exclusive merchandise that will help raise awareness and save animals from going into extinction.
Baby Doge Coin has also been listed on the leading digital assets exchange, MEXC Global. The exchange categorised the puppy-themed crypto asset in the innovation zone. This is great news for the Baby Doge community, as this will further bring growth and expansion to the community.
Baby Doge Coin has done impressively well since its launch earlier this year. We can expect the digital asset to continue to rally as meme tokens continue to garner major traction.
On the back of this, forecasts on the digital asset have been bullish, with leading crypto prediction website, Wallet investor, is projecting the price of Baby Doge Coin to rally and attain the $0.000001 mark at the end of 2021. However, the prediction site does not see Baby Doge Coin price mooning beyond this pegged price next year and in 5 years to come.
Digitalcoin Price, another popular prediction website, was not too bullish on Baby Doge Coin, expecting the puppy-theme crypto asset to be worth $0.0000000023 by 2022, and rally to $0.0000000040 within the next 5 years.
Head over to the eToro homepage and click on 'Join Now" to open an account. Fill out the blanks requesting an email address and mobile number, choose a username and password. You can also sign in via your Facebook or Google account to fast-track this process.
You will need to complete the know-your-customer (KYC) process by submitting a driver's license or official ID. You will also need to provide a recent copy of your utility bill or bank statement.
Click on the 'Deposit funds' tab at the bottom of the left-hand navigation. Type in the amount in fiat currency you want to deposit. Select your preferred payment method and insert how much you want to deposit. eToro has a set minimum deposit of ($50) 37 for residents of the UK.
Type the preferred crypto asset into the search bar and click on the first result that pops up. You can click on the 'Feed' section to know more about the asset and how other investors feel about it. When you are ready to invest in Baby Doge UK, click on the 'Trade' button to purchase the crypto asset. Insert how much you want to invest and click on 'Open Trade'.
There are several platforms where you can buy Baby Doge; however, we have selected the best platforms available on the market. These platforms fulfil the most important aspects of choosing a broker to buy crypto.
The eToro platform is one of the best crypto brokerage platforms as it offers trading to anyone at an affordable rate.
eToro was founded in 2007 by Yoni Assia, Ronen Assia, and David Ring and has up to 23 million verified users.
The platform is secure and is regulated by several top regulatory bodies including the Australian Securities and Investment Commission (ASIC), the Cyprus Securities and Exchanges Commission (CySEC), the Financial Conduct Authority (FCA), and the Securities and Exchange Commission in the US.
eToro is regarded as the most reliable crypto exchange platform in the UK as the platform ensures the security of user details and funds. Using Secure Socket Layer (SSL) encryption, the platform guards the details of users.
eToro also helps users earn more from their investments and trades; the platform employs the CopyTrade feature, allowing users to imitate more experienced traders' trade strategies.
The platform offers up to 43 standard cryptocurrencies for trades, conversions, and transfers. Payments and fees on the eToro platform are minimal as there is only a minimum deposit of $50 (£37.7) only, and withdrawals cost $5 (£3.7). eToro charges are spread on trades, ranging between 0.75% to 5% depending on the crypto asset.
The social trading leader accepts PayPal, debit/credit cards, Skrill, Neteller, and bank transfers as valid means of payment.
ByBit is a derivative exchange platform that specialises in handling crypto assets. Many crypto exchanges are available on the market; however, ByBit is considered one of the best platforms to invest in Baby Doge UK.
This is because ByBit is focused on anonymity and allows users to register and transact crypto without providing any KYC details.
The platform is also great for buying Baby Doge because ByBit offers up to 100x leverage trading on four out of the 112 cryptocurrencies offered on the platform.
Bybit was founded in 2018 by Ben Zhou and has since garnered over 3 million registered users on its platform. The platform is not regulated and has its headquarters in Singapore.
When trading on the ByBit, two parties are usually involved: the maker and the taker. The maker places orders before trades, and the taker places a trade that matches the maker's order.
Makers are usually paid -0.025% in rebate when trading perpetual contracts on the exchange platform, but takers are charged 0.075% for every trade. For spot trades, makers are not charged fees, whereas takers will pay a 0.10% fee.
ByBit accepts crypto transfers, e-transfers, Visa/Master debit/credit cards, and cash deposits as valid means of payment. When using cash deposits, the platform will allow you to choose from over 59 fiat currencies, provided you purchase only BTC, ETH, and USDT.
Taking the plunge into crypto can be nerve-racking. However, you should consider a few things before investing in Baby Doge.
Crypto exchange platforms are the bridges that connect potential investors to their preferred cryptocurrencies. The platform an investor decides to use has a lot of influence on the investment and could yield substantial yields or great losses. When choosing a platform, it is important to use secure, fully regulated platforms that are not susceptible to hacks.
When choosing a platform to buy Baby Doge, an investor needs to acquaint themselves with the fees related to the platform and weigh the cost vs rewards. Some platforms charge hidden or additional maintenance fees, inactivity fees, and monthly subscription fees.
When making investments into the crypto space, there are several ways one can realise gains depending on the hold time. The hold time is the duration an investor or trader is willing to hold on to the investment. Since crypto assets have a habit of appreciating over time, some traders buy Baby Doge at low prices and sell within a day or a few hours when the asset leaps in price, and some prefer to hold until the asset makes substantial gains in a few years.
The crypto space has opened up several opportunities for people to derive wealth. One of these opportunities is the holding and trading of meme-coins. Meme-coins are driven by internet sentiments and are very volatile. Their volatility has helped those who held significant meme tokens become millionaires in the last few months.
Before investing in crypto, it is important to consider the most important factors affecting the expected yields. When trying out new investment options such as meme-coins, it is best to research the various products and platforms vital to the investment plan. It is advisable that when investing in Baby Doge, investors should only consider reliable platforms such as eToro.
Yes, there are several ways one can invest in Baby Doge. You can buy and hold Baby Doge or trade the crypto asset against a stablecoin. Either way, you stand a chance to realise good gains, provided you leverage on a good entry and exit point in the market.
There are a lot of platforms available on the market that offer Baby Doge as a crypto asset; however, eToro is recommended as the best platform to use to buy Baby Doge.
Crypto assets are volatile by nature. Baby Doge is a meme-coin considered more volatile than regular crypto assets. Before investing in Baby Doge, it is advised that a proper study of the asset is conducted.
Buying or trading crypto in the UK is legal; however, the nascent industry is not regulated at large. Her Majesty's Revenue Customs (HMRC) has passed bills that make crypto taxable. Certain conditions make crypto taxable and are fully spelled out in the HMRC's guidelines.
