Dogecoin Madness In India, Here’s How You Can Buy One | GarimaShares
Dogecoin isn’t just a meme now, it is attracting many eyeballs around the globe. Dogecoin started as a joke. Elon Musk sent out multiple tweets about the famously known ‘meme coin’ post which there was a huge growth in its value.
In mid-April 2021, Dogecoin crossed 10 cents for the first time. And currently, its market cap is a staggering amount, over $78 billion.
Dogecoin was worth barely one cent back in January 2021.
On May 8, 2021, at 2:09 am, #Dogecoins was trending in India with over 16.4K tweets. And by 2:50 am, it crossed 17.1K.
Wow!!!!!! 41,000 more stores are accepting #Dogecoins Good Job!!!🚀🚀🚀🚀🚀🚀🚀🚀🚀 Buying more ❤️❤️❤️ pic.twitter.com/ojEv2DrVFI
- DOGE 🌙 (@Dogeto1000) May 7, 2021
How many #Dogecoins you are holding?😀 Did you think #Doge cross 1$ dollar today? pic.twitter.com/oqLQ6GvOkX
- Karan #Dogecoin🐶 (@iemkaransharma) May 7, 2021
In an interview with TMZ, Elon Musk said that “There is a good chance that crypto is the future currency of the world. Then the question is which one is it going to be? It could be multiple,” he said.
He mentions in this same video that it is not wise to invest your life savings into cryptocurrency.
If you are one of those people who have heard about Dogecoin, seen the hype that is building up but doesn’t exactly know how to buy one, you came to the right place.
Before we go any further, I just want to put this out there…
I’m not suggesting you trade and buy any kind of bitcoin currency. This post merely talks about how you can use the app to make trades if you wish to. The bitcoin market is a risky business, please trade at your own risk.
How to buy dogecoin in India
Install the Wazir App on your smartphone. The app lets you buy and sell cryptocurrency with a wallet attached to it.
First things first, you have to enter your details to create an account on the app. The entire process from signing up on the app to getting your bank details verified can take up to 1–3 days.
The delay, if you face it, will be because the app has seen a growth of 300% in the number of users registering.
You can verify your details using your PAN card and Aadhar card. You’ll also be asked to submit a picture of yourself holding the Aadhar card in your hand for verification purposes.
Also Read: 7 Apps for making catchy animated Instagram stories
Transfer funds to buy Dogecoin & other crypto instantly via IMPS/NEFT/RTGS or UPI
On the app, you essentially have to add funds/money to your app wallet. This can be done either through a bank account or a UPI id.
UPI transactions are currently unavailable (May 8, 2021)
In bank transfers, IMPS, NEFT, RTGS are supported. At the time when I was writing this post, UPI options were temporarily unavailable.
To this, the company tweeted the following:
Why is UPI not available on WazirX?
It’s because our current banking partner has removed UPI option. Any pending UPI deposits will get reverted to your bank account within 5 business days.
We’re talking to more banking partners and working hard to bring back UPI soon.
- WazirX: Bitcoin & Cryptocurrency Exchange in India (@WazirXIndia) May 6, 2021
This can happen when there is a heavy load on the app. But bank transfers are available almost all the time.
Read this if you deposited INR via UPI on WazirX 👇
Our UPI stopped on May 5, and UPI deposits made during this period got stuck.
We’ve informed our payment processor and they WILL refund it ASAP. Please have patience 🙏
Read why UPI is not working 👇 https://t.co/BjTEgSu3M5
- WazirX: Bitcoin & Cryptocurrency Exchange in India (@WazirXIndia) May 7, 2021
Q. Why are DOGE/INR and DOGE/USDT prices different?
It’s due to the difference in demand in these two markets. If demand is more than supply, then price tends to go up. When supply is more than demand, price tends to go down.
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- WazirX: Bitcoin & Cryptocurrency Exchange in India (@WazirXIndia) May 5, 2021
Limits on fund transfer
The minimum amount that can be added to your Wazir wallet is Rs. 100.
The maximum amount you can spend in a single transaction is Rs. 25,000.
A separate account will be made by the app to which you have transfer funds from your bank account.
The fund transfer doesn’t happen directly from your bank to the app wallet. Once you complete the transfer of funds from your bank to the new bank account that the app shares with you, the money will reflect in your wallet in a few minutes.
At times, when the load is high on the app, it can take longer.
As said on Twitter, by the company’s official handle, if the money doesn’t show up in your wallet in an hour it will be credited back to your bank account.
Do you have any doubts? Ask me in the comments below 🙂
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Originally published at https://garimashares.com on May 7, 2021.
