Dogecoin: Should you buy Doge right now? SHIB, Safemoon on the rise

During the summer of 2020, a viral TicToc video tried to hype up DOGE. The video author said if everyone deposited $25, Dogecoin would reach $1, making each $25 investment worth $10,000. Many crypto novices don’t understand the difference between the respective price increases of bitcoin and dogecoin.

• Exchanges are prime hacking targets, so there is good reason to store your crypto yourself.
• Even amid the record rally, experts caution investors from jumping into dogecoin just to make money.
• Once your account is created, you’ll be logged-in to this account.
• Unfortunately, Dogecoin isn’t as widely available as other coins such as Bitcoin, Litecoin, or Ethereum.

“Just so you’re not making decisions every time there’s a fluctuation in price, which at this point happens every few days.” “Never invest anything you aren’t willing to lose,” said Ben Weiss, co-founder and CEO of CoinFlip, one of the largest bitcoin ATM companies in the U.S. Cryptocurrency — With this option, you trade cryptocurrency that you own with another crypto trader who owns DOGE. Fees are typically lower when you go this route, often coming in at less than 1%. However, direct trading can be a bit more complex and may be intimidating for beginners.

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A few things have factored into the price action, including high-profile support and an internet following by retail investors aiming to push the price of the coin to $1. The run is the latest leg of an epic tear that’s sent the value of the cryptocurrency up more than 600% in just a few weeks and more than 11,000% since the beginning of the year. There’s also a hunt out for the next great cryptocurrency that could spur heavy interest, so Dogecoin might soon be old news. Dogecoin hit a new peak last week before dipping down over the weekend, so questions remain about whether it’s still a worthy investment. Bank transfer — This is the slowest method and can take 2-3 days to complete.

“If you don’t like it or think it’s a fad, don’t invest in it.” An illustration of a dog bowl with coins in it, a hint at Dogecoin.

He started tweeting about Dogecoin at the end of last year and hasn’t stopped. Instead of putting your money to work into a literal joke of an asset with no true staying power, I’d suggest ditching Dogecoin and buying into the following three stocks right now. Over the long run, investing in the stock market has been one of the most-effective ways of accomplishing this feat. Zadikoff recently told CNBC he doesn’t expect the hype around Dogecoin to last too much longer, which is why he hasn’t bought into the cryptocurrency yet. There’s no doubt that Dogecoin has a serious amount of hype around it right now. The cryptocurrency has risen somewhere around 11,000% since the beginning of 2021, according to MarketWatch, and that’s a jump no one can ignore.

Dogecoin briefly surged to an all-time high of 69 cents Wednesday morning, capping a roller-coaster run for the meme-based cryptocurrency that has skyrocketed in value in recent months. Visa is a cyclical business, which is a fancy way of saying that it can struggle during contractions and recessions, but it thrives when he U.S. and global economy are expanding. However, recessions often only last a few months to a couple of quarters. A bet on Visa favors long-term investors since gross domestic product in the U.S. and globally will rise over time.

Unfortunately, Dogecoin isn’t as widely available as other coins such as Bitcoin, Litecoin, or Ethereum. Traders may be disappointed to find that many popular https://cryptolisting.org/ cryptocurrency exchanges such as Coinbase and BlockFi don’t currently support DOGE. If it did, DOGE would have had a market cap worth more than Bitcoin.

When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you’ll be logged-in to this account. Once you’ve purchased Dogecoin, you’ll move it from the exchange to your wallet. Simply supply your wallet address to get your coins out of the exchange.

How To Buy And Invest In Dogecoin

Another thing to consider is that Visa controls more than half of all credit card network purchase volume share in the U.S. — the U.S. is the No. 1 market for consumption in the world. It also has no shortage of regions to expand to which remain underbanked, such as the Middle East, Africa, and Southeastern Asia. Well, except for Adam Zadikoff, COO of BRD, a popular cryptocurrency wallet platform. Sign Up NowGet this delivered to your inbox, and more info about our products and services. “Throw some money into it and kind of let it stay in there and season for a while,” she said.

Higher GDP means more spending, and more payments to process will grow Visa’s top and bottom line. Instead, investors dropped out of the Dogecoin hype, selling their holdings and leading the price of a single dogecoin to drop, hurting the overall value. Musk has tweeted his support for the coin again, again, and again. And as long as he what is index chain keeps doing so, people are likely to keep buying it. But while following social media hype can be a smart short-term trading strategy, it doesn’t necessarily mean that DOGE will be a successful coin over the long-term. But, given that the coin doesn’t seem to have any practical use, it’s hard to envision it having a lasting future.

Reasons to Ditch Dogecoin and Buy These Stocks Right Now

But unless you’re buying lots of crypto, you probably don’t need one yet. We’re proud of our content and guidance, and the information we provide is objective, independent, and free. Since 1980, the widely followed S&P 500 has delivered an average annual total return of slightly better than 11%. This means it’s taking less than seven years, with dividend reinvestment, for investors to double their money with an S&P 500 tracking index. This joke-inspired digital currency isn’t worth your hard-earned money — but these superior stocks are.

Although the company no longer reports its average yield on invested assets, I wouldn’t be surprised if it received a complete payback on its investments in seven years or less. And, investors shouldn’t get into dogecoin just to turn a profit in a short time. “While it has gained incredible traction lately as well as celebrity endorsements, including Mark Cuban and Snoop Dogg, just like any other crypto, it’s extremely volatile. If you’re planning on investing in it, you should be ready to stomach wild swings,” according to Yahoo! Finance. Yahoo! Finance suggests you should only invest if you’re willing to deal with a volatile market that doesn’t really have stability.

Crypto wallets typically integrate into browsers or mobile apps. Wallets also come with a password which you’ll want to keep in a safe place and not forget. Hardware wallets, which cost between $70-$100, are also an option.

If you don’t already have a crypto wallet, you might want to get that first. A wallet allows you to store your crypto securely and get it off of an exchange. Exchanges are prime hacking targets, so there is good reason to store your crypto yourself. You also have full control over your crypto when it’s in your wallet.

Innovative Industrial Properties, also known as IIP, is a medical cannabis-focused real estate investment trust . This means it acquires cultivation and processing facilities in the cannabis space with the purpose of leasing these assets out for a long period of time. IIP thrives off of long-term rental income and generates modest organic growth via inflationary-based annual rental increases and management fees. DOGE is for those that are willing to take a gamble that the hype will keep driving the price higher, at least in the short-term. But, at this point, we wouldn’t really call it an investment as it could come crashing back down any day. But we do have to make money to pay our team and keep this website running!

More On Cryptocurrency

Financial experts generally advise that people looking to invest in cryptocurrencies allocate just a small amount of their portfolio. The U.K.’s Financial Conduct Authority has issued a similar warning. At the same time, Mark Cuban, owner of the Dallas Mavericks basketball team, made several posts in support of dogecoin.

Those who want to invest in different digital coins should assess where they stand with other personal finance and investing goals to determine if they have some extra money to put into a risky asset. Of course, Weiss is a supporter of investing in cryptocurrencies and dogecoin, and recommends that all investors hold some digital coins, even if it’s just a small slice of one’s portfolio. He also cautioned first-time cryptocurrency buyers from diving right into dogecoin without having invested in any other coins.

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Bitcoin has a 10-year track record at this point, which makes it a different risk level than investing in a newer alternative coin. According to CoinGecko.com, it’s currently worth about $0.45 and has a market cap of $10,383,370,714. In comparison, Bitcoin has a market cap of $832,167,825,180, or over 80X that of DOGE.

The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product’s website. Additionally, no gold stock offers a more impressive balance sheet than Kirkland Lake. What’s more, Kirkland Lake repurchased 20 million shares of its stock since the beginning of 2020, and it’s tripled its dividend. Kirkland Lake has two separate catalysts working in its favor.

Innovative Industrial also benefits from its sale-leaseback program. With marijuana entirely illegal at the federal level, some banks are unwilling to offer basic banking services to multistate operators. It proves to be a win-win, with the multistate operator receiving much-needed cash and IIP netting a long-term tenant. Even amid the record rally, experts caution investors from jumping into dogecoin just to make money. Cryptocurrencies are highly volatile, meaning that the current streak could reverse at any point. A few exchanges do offer Dogecoin, though, such as Uphold, Webull, Robinhood, Kraken, and Crypto.com.

For instance, the company’s all-in sustaining cost of $846 per gold ounce in the first quarter equates to a nearly $1,000 per ounce operating margin. Kirkland three operating mines have consistently been among the most-efficient, with respect to AISC. Though it could use economic expansions as an opportunity to generate interest income and fee revenue, not being a lender means it isn’t directly exposed to credit delinquencies during recession. Not having to set cash aside for delinquencies is why Visa rebounds so quickly from economic downturns.

Credit card — This is the easiest and fastest method for buying crypto but also the most expensive. If you’ve been following all of the excitement around the amazing stock run and collapse of GameStop , you’ve probably seen some related media coverage coming from Elon Musk. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. And Mastercardaveraged 700 million transactions daily in 2018, per the Nilson Report. An illustration of a dog bowl with coins in it, a reference to Dogecoin. “If you like Dogecoin and think it could be a viable currency in the future, or are fans of the idea and the movement, go ahead and invest in it,” he said.