Baby Dogecoin: Where to buy Elon Musk's new favourite cryptocurrency in India?

A random tweet comprising of the 'Baby Shark' song by Tesla co-founder Elon Musk saw the stakes of the Baby Doge, a sequel to the larger parent Dogecoin, rise up to a whopping 80%. Baby Doge is more of a pyramid scheme than a tech investment. Although, unlike its antecedent, Dogecoin, whose supply can be infinite, in theory, Baby Doge is deflationary in nature, meaning that it values scarcity. 

Whenever a transaction with Baby Doge is complete, users are charged a 10% transaction fee. This fee is further redistributed to token holders, and the earliest investors get the largest portion of these rewards. So, as time goes on, the rich get richer, and those at the bottom of the pyramid scheme make pennies from this “smart staking system”. 

Although Baby Dogecoin primarily focuses on charity and donates to “Paws With a Cause”, a foundation focused on helping sheltered dogs.

Where and how to buy dogecoin in India?

From India, you can buy Dogecoin from Indian exchanges like BitBnS, WazirX and international exchanges like Binance. To deposit and withdraw the money you can use your UPI app like GooglePay or Phonepay and Bank Transfer for withdrawing money from the exchange.

The most secure way would be to open a Binance Account The token is listed on Binance Smart Chain, you’ll need to first open a Binance account to get started. While Baby Doge isn’t listed on any centralised exchanges, you can buy it on PancakeSwap, Binance’s DEX. Before using PancakeSwap, you’ll need

The need to have BNB tokens in your crypto wallet before using PancakeSwap is essential.

Once that is done you can visit PancakeSwap.finance and connect your wallet to the website. After your wallet is connected, go to the exchange, and then you can buy Baby Doge by swapping your Binance tokens on the platform.

The credibility of Baby Doge

With not more than a month of its existence in the crypto market, Baby Doge happens to be the new gossip among crypto enthusiasts and not because of its technical capabilities but for its sheer 'adorableness'. Yes, you read it right. This got the entire Reddit community to further discuss whether Baby DogeCoin is actually a deal-breaker or Elon Musk is incessantly hyping up its value to keep its bigger daddy, the Dogecoin relevant. 

Unlike its antecedent, Dogecoin, whose supply can be infinite, in theory, Baby Doge is deflationary in nature, meaning that it values scarcity. The lower supply/higher demand dynamics are also driving the price higher, if only for the short term. 

Image courtesy - Unsplash