How to Buy Baby Doge (BabyDoge) in 5 Simple Steps

How to Buy Baby Doge Coin

Baby Doge is still just a pup and hasn’t been listed on any major crypto exchanges yet. But it’s not difficult to get hold of Baby Doge with the help of a decentralized exchange (DEX) such as PancakeSwap.

1. Sign up with a Regulated Exchange

Start by selecting a safe and regulated platform to sign up with. You may need a photo ID and proof of address to verify your account. See further down this page for a comparison of the best platforms, or simply sign up with our top recommendation right here.

2. Purchase BNB tokens

To get hold of BabyDoge, you will need some BNB that you can swap for it on PancakeSwap. Go to the deposit page of your platform to fund your account, find the trading pair for BNB and your deposited currency, and purchase some BNB.

3. Send your BNB/ETH to a Web 3.0 wallet

You will need to set up a wallet such as MetaMask or Trust Wallet that is compatible with Web 3.0. Find your wallet’s Binance Smart Chain address and paste it into the “Withdrawals” section of your exchange to send BNB over to your wallet.

4. Connect your wallet to PancakeSwap

Next, head over to PancakeSwap and click the “Connect Wallet” button. Follow the instructions that pop up to grant PancakeSwap permission. This allows you to connect with PancakeSwap and won’t cost you anything.

5. Swap your BNB for BabyDoge

You will need to set BNB as the input currency and BabyDoge as the output currency on PancakeSwap. You can do this here by stating that you understand the risks and click “Import”. Then enter how much you want to swap and make the swap.

What Is Baby Doge?

Baby Doge is a decentralized meme project inspired by Dogecoin. Its improved transaction speeds and rewarding token economics have seen it attract a strong following, gaining more than 250,000 holders and a market cap of over half a billion dollars in its first three weeks.

There is a 10% fee for every BabyDoge transaction, half of which is sent to PancakeSwap in the form of BabyDoge and BNB to ensure there is always sufficient liquidity for the BabyDoge/BNB trading pair.

The other half of the fee is redistributed to all BabyDoge holders, incentivizing long-term investment in the project. Also, some of the redistributed tokens are burned (permanently removed from circulation), making the token deflationary.

The project has partnered with CoinPayments.net to enable online payments in BabyDoge, and there is a dedicated BabyDoge charity wallet for supporting good causes. There are also plans for a Baby Doge credit card, a decentralized swap feature, and a non-fungible token (NFT) marketplace.

Ways to Invest in Baby Doge

BabyDoge may be suitable for both short-term and long-term investors. Which path you choose will come down to your level of experience and your investment goals. We’ll look at what each option entails below.

Buy and hold Baby Doge

As you might have guessed, this strategy involves buying Baby Doge Coin and holding onto it. The benefits are that it doesn’t require much skill, time, or effort, so anyone can potentially make a profit from buying and holding.

Another benefit of buy and hold is that the redistribution of BabyDoge means that you will accrue more tokens in your wallet simply by holding BabyDoge.

Best Baby Doge wallets

Self-custody tokens in a private wallet is a popular storage solution among long-term holders. It can be more secure than the alternatives and means you don’t have to rely on a centralized service to access your tokens.

Hardware wallets like Trezor, BitBox, and Ledger are the most secure place to store your tokens, but you will have to pay for this level of security. Software wallets provide a less secure alternative but are free, user-friendly, and can be downloaded for PC or mobile.

Trade Baby Doge

Traders can take advantage of BabyDoge’s volatility to generate more frequent profits by buying and selling BabyDoge more often. This will require a greater commitment in terms of time and effort, while skills in technical analysis would also be valuable.

If you are going to be trading your tokens regularly, a private wallet may not be the most suitable storage option as regular transfers can be cumbersome and costly. Though less secure, web wallets provided for free by exchanges may be the most convenient option.

What is the Best Payment Method for Buying Baby Doge Coin

Buy Baby Doge Coin with Cash

P2P platforms may enable easy cash purchases

Buy Baby Doge Coin with Credit Card

Convenient, quick and accepted by a large number of platforms.

Buy Baby Doge Coin with Bank Transfer

Inexpensive and extremely secure, but involves a longer processing time.

Buy Baby Doge Coin with Bitcoin

Commonly facilitated by all well-known crypto exchanges.

Buy Baby Doge Coin with PayPal

Offers a nice mix of convenience and cost, but not available on all platforms.

Should I Buy Baby Doge Now?

This is something you will have to decide for yourself once you have done the necessary research. BabyDoge has a capped maximum supply and more than 40% of it has already been burned. With every BabyDoge transaction, 5% is redistributed to all BabyDoge wallets, which includes the burn wallet. This means that the supply reduces over time, which could increase the value of BabyDoge.

The redistribution of tokens also creates an incentive to buy and hold BabyDoge for the long term. This could mean a smaller supply available on the market and could potentially drive up BabyDoge price.

BabyDoge has the attraction and strong community spirit of a meme coin, but its plans for a credit card, decentralized swapping, and e-commerce partnerships give the coin real utility and could help the project achieve longevity.

Other Ways to Buy BabyDoge

Though it’s quite easy to buy BabyDoge through an online crypto broker or exchange, you can use a few other methods to acquire the popular meme coin too.

You may check out some established peer-to-peer (P2P) exchange portals that may allow you to directly buy BabyDoge from a seller on the platform. All BabyDoge coin holders are rewarded for their loyalty by crediting them with 5% of the 10% fee levied on the BabyDoge transactions. Hence, choosing to hold on to your coins will organically earn you more of them, over a period of time.

3 Tips to Buy Baby Doge Coin

We’ve provided below 3 highly useful tips that can be immensely helpful in making a potentially profitable and safe Baby Doge Coin purchase.

Choose the Right Time and Do Your Own Research on Baby Doge Coin

Making Baby Doge Coin purchase at the right time and right price can have a major impact on your possible gains when you close your investment later. You must do all possible due diligence and look into various fundamental and technical factors that may impact its price in the near future.

Comparing Costs to Buy Baby Doge Coin

When you buy BabyDoge, you will not be paying for the market value of the coin alone. There will be additional costs like deposit fees, withdrawal fees and transaction fees that will come into play. There may be a variance in the exchange rates at different platforms too. Though all such factors are usually neglected during the buying activity, they can significantly impact your overall costs, especially if you buy or trade crypto in huge volumes.

Safety and Security when Buying Baby Doge Coin

The safety and security of the trading platform used to make BabyDoge purchases can often be the determining factor in whether you profit from your investment, or end up losing all your crypto holdings. Therefore, double check that the platform you’re signing up with incorporates leading security measures and latest encryption technologies. This is why regulated platforms are always preferred as they must mandatorily follow strict security protocols, to maintain their licenses.