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4 Questions To Answer Before You Buy Dogecoin
If you’re considering putting your money into Dogecoin, there are a few things you should ask yourself first.
Not many cryptocurrencies have had a bigger or wilder 2021 than Dogecoin. From the start of the year to the beginning of May, Dogecoin’s price went up by 12,000%. Since then, It has dropped by over 50%. It’s also one of very few cryptocurrencies to become a household name. Even my grandmother has heard about it.
The price swings and the popularity of Dogecoin might have you wanting to get in on the action. But this coin is far from a slam dunk investment, so make sure to answer some important questions before you buy.
1. Why do you think Dogecoin is worth buying?
The success of Dogecoin has attracted a lot of new buyers. Many are interested because they don’t want to miss out if the price keeps going up, or because they’ve heard about this hot new money-making opportunity through word of mouth.
When deciding if you should buy Dogecoin, neither of those are good reasons to say yes. Past results are no guarantee of future results. The price skyrocketed before, but that doesn’t mean it will happen again.
There’s a popular acronym in the crypto community — DYOR, which means “do your own research.” If you want to purchase Dogecoin, think long and hard about why it’s worth buying. It was, after all, created as a joke, and there’s nothing to make it stand out from thousands of other coins. Its popularity has pushed the price up, but popularity alone doesn’t make for a sound long-term investment.
2. Have you considered other cryptocurrencies?
Cryptocurrency is full of exciting coins and projects. If Dogecoin got you interested in crypto, take some time to see what else is out there.
Bitcoin is the biggest cryptocurrency, and with its limited supply, some think it could succeed as a digital store of value. With the Ethereum blockchain and the smart contracts it offers, Ether is also very popular, and there are several reasons to buy Ether over Dogecoin. Those who value cryptocurrencies with a smaller environmental impact may like Cardano, which focuses on both sustainability and economic accessibility.
Those cryptocurrencies, and many more, have their own unique advantages that make them special. Dogecoin doesn’t, which will likely limit its growth potential.
3. What are your plans with your investment?
Cryptocurrency prices can change quickly, and Dogecoin is one of the most volatile. That’s why it’s important to have a plan. Otherwise, you could find yourself wondering whether to sell after every movement in price.
Your investment plan is the conditions when you’ll sell some or all of your Dogecoin. Let’s say you buy Dogecoin at a price of $0.34. You could decide that you’ll sell if the price drops to $0.20 or lower, or if it rises to $0.55 or higher. Another popular option is that if the price doubles, you pull out your initial investment and leave the rest.
You can also use a timeframe for your plan instead of prices. Some buyers commit to holding Dogecoin for three months, a year, or longer. This can be a good way to avoid worrying too much about short-term price fluctuations.
4. How will you buy Dogecoin?
If you’re sure about buying Dogecoin, then you need to know how to buy it. Since Dogecoin used to be much smaller and it’s so controversial, some of the major cryptocurrency exchanges don’t offer it.
A good place to get Dogecoin is the Gemini exchange. It’s one of the biggest exchanges in the United States, it’s secure, and it’s beginner-friendly. If you’re new to crypto and you don’t have an account with any exchange yet, then Gemini is probably the easiest option.
Buying Dogecoin isn’t a decision to take lightly. The hype train may be over, and if you’re expecting big gains, it’s best to temper those expectations. Spend some time going over the questions above to decide whether you’ll buy Dogecoin, what your plans with it will be, and how you’ll make the purchase. And if you decide to buy, only put in what you can afford to lose.
There are hundreds of platforms around the world that are waiting to give you access to thousands of cryptocurrencies. And to find the one that’s right for you, you’ll need to decide what features matter most to you. To help you get started, our independent experts have sifted through the options to bring you some of our best cryptocurrency exchanges for 2021. Check out the list here and get started on your crypto journey, today.
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool owns shares of and recommends Bitcoin. The Motley Fool has a
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What Are Crypto Credit Cards And Should You Get One?
This article is reprinted by permission from NerdWallet.
Cryptocurrency is the talk of the finance world, and the credit card industry wants to be part of the conversation by offering rewards in digital currencies, such as bitcoin, BTCUSD, -1.16% ethereum, ETHUSD, -0.49% Cardano, ADAUSD, +1.09% Dogecoin DOGEUSD, +0.29% and others.
The question is, should you mix credit card rewards with the crypto market? For the most flexibility, probably not. Instead, separate credit card rewards and cryptocurrency purchases.
If you want to buy crypto, use money earned from a cash-back credit card or the equivalent value you reap from redeeming airline miles, for example. That lets you buy the cryptocurrency you want on your terms and timing. You also might accumulate more rewards to invest overall.
But if you’re crypto curious and view credit card rewards as extra gambling money that you don’t mind losing, go for a crypto-rewards credit card if it appeals to you. It might be simpler to get started than researching and finding a crypto-exchange service. And it’s a rare credit card reward that has a chance to rise dramatically in value.
Here’s what to know.
Which credit cards earn crypto, and how?
Crypto rewards on credit cards are a relatively new trend, with a number of card choices becoming available. Issuers that have introduced cards or announced such plans include:
Crypto rewards come in slightly different types. For example, your credit card spending might earn rewards as a digital currency, like bitcoin or ether, the currency of ethereum. With other issuers, you earn points or cash back that you can convert into cryptocurrency or use a different way.
Also see: SEC chairman says Americans need a ‘cop on the beat’ to protect investors from crypto fraud
Arguments in favor of crypto rewards
Also read: ‘Irresponsible’ bitcoin ads banned for being misleading
Arguments against crypto rewards
More From NerdWallet
Gregory Karp writes for NerdWallet. Email: [email protected]. Twitter: @spendingsmart.
Will Dogecoin Go Up Again? Buy These 2 Growth Stocks Instead
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Global Environment Management, Compliance and Due Diligence Market Report 2021: Market is Expected to Reach $4.76 Billion in 2025 – Forecast to 2030
Dublin, June 01, 2021 (GLOBE NEWSWIRE) — The “Environment Management, Compliance and Due Diligence Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.Com’s offering. Major players in the environment management, compliance, and due diligence services market are AECOM, Tetra Tech, Strategix Application Solutions, Metrix Software Solutions, Lighthouse, Qooling, Intelex, SiteDocs, IndustrySafe, and SafetySync.The global environment management, compliance and due diligence market is expected to grow from $4.06 billion in 2020 to $4.28 billion in 2021 at a compound annual growth rate (CAGR) of 5.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $4.76 billion in 2025 at a CAGR of 2.7%. Where is the largest and fastest growing market for the environment management, compliance and due diligence ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Environment Management, Compliance and Due Diligenc market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider environment management, compliance and due diligence market, and compares it with other markets.The launch of carbon footprint management has created immense demand in the environmental management, compliance, and due diligence services market. Companies are increasingly following carbon footprint management at the vertical level due to the need to comply with carbon emissions regulations. For instance, in June 2020, SAP has launched a carbon emissions accounting system to address climate change. SAP launched the first solution in its Climate 21 program helping enterprises to perform their business operations efficiently where sustainability is an economic and strategic imperative. A carbon footprint is used as a transcript for the quantity of carbon (usually in tonnes) being discharged by an organization. It is also a significant constituent of the Ecological Footprint since it is one competing demand for biologically productive space.The environment management, compliance, and due diligence services market covered in this report is segmented by service type into environment management services, environmental compliance services, environment due to diligence services, by end-users into mining, manufacturing and process industries, energy and utilities, government and regulators, infrastructure and development, others.Increasing environmental safety concerns across the globe contributed to the growth of the environmental management, compliance, and due diligence services market. Profound public interest in the threats facing the environment, as well as accelerating claims placed on the environment by the increased population, are projected to spur demand for environmental scientists and specialists.The high cost associated with environmental consulting services is expected to limit the growth of the environmental management, compliance, and due diligence services market. The services offered by an experienced consultant in the industry are priced high with a focus on the value of the service.Key Topics Covered: 1. Executive Summary 2. Environment Management, Compliance and Due Diligence Market Characteristics 3. Environment Management, Compliance and Due Diligence Market Trends and Strategies 4. Impact of COVID-19 on Environment Management, Compliance and Due Diligence 5. Environment Management, Compliance and Due Diligence Market Size and Growth 5.1. Global Environment Management, Compliance and Due Diligence Historic Market, 2015-2020, $ Billion 5.1.1. Drivers of the Market 5.1.2. Restraints on the Market 5.2. Global Environment Management, Compliance and Due Diligence Forecast Market, 2020-2025F, 2030F, $ Billion 5.2.1. Drivers of the Market 5.2.2. Restraints on the Market 6. Environment Management, Compliance and Due Diligence Market Segmentation 6.1. Global Environment Management, Compliance and Due Diligence Market, Segmentation by Service Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion Environment Management ServicesEnvironment Compliance ServicesEnvironment Due Diligence Services 6.2. Global Environment Management, Compliance and Due Diligence Market, Segmentation by End-Users, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion Mining, Manufacturing and Process IndustriesEnergy and UtilitiesGovernment and RegulatorsInfrastructure and DevelopmentOthers 6.3. Global Environment Management, Compliance and Due Diligence Market, Segmentation by Applications can be divided into, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion GovernmentUtilitiesOthers 7. Environment Management, Compliance and Due Diligence Market Regional and Country Analysis 7.1. Global Environment Management, Compliance and Due Diligence Market, Split by Region, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion 7.2. Global Environment Management, Compliance and Due Diligence Market, Split by Country, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion Companies Mentioned AECOMTetra TechStrategix Application SolutionsMetrix Software