How to Buy Baby Doge Coin in the UK – Beginner’s Guide

Meme coins such as Baby Doge Coin have gained a lot of interest over the past year. With over 1.3 million token holders and a 1,124% rise from its lowest to its highest price in 2021, you can see why. 

In this ‘How to Buy Baby Doge Coin’ guide, we go through why this meme coin is so popular, the coin’s future price prediction and where to buy Baby Doge Coin with the lowest fees around.  

How to Buy Baby Doge UK – Quick Steps

Wondering how to buy cryptocurrency from the comfort of your own home? You can start investing in Baby Doge Coin in less than 10 minutes by following this four quick-step guide. 

• Step 1: Open an account with Coinbase. You can open an account in just a few minutes with Coinbase. 
• Step 3: Deposit. You can deposit funds into Coinbase  using debit card, bank transfer, PayPal, Neteller and other e-wallets with as little as $10. 
• Step 4: Buy Crypto! You can purchase a wide range of cryptocurrencies from the platform which is used by millions of people!

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Where to Buy Baby Doge Coin in the UK

When purchasing cryptocurrencies it is important to use the best cryptocurrency exchanges and platforms available. These need to have top-notch, quality services and most importantly be safe and secure with the best crypto app. 

You also want to make sure you can deposit and withdraw funds easily, as well as transfer and store your crypto coins. From our research, we found two crypto brokers that fit the bill which are both discussed below. 

1. Coinbase – Top Rated Broker to Cryptocurrency

If you’re looking for another top rated cryptocurrency broker then Coinbase fits the bill. Coinbase Inc is a public company that trades on the New York Stock Exchange and is one of the most well known cryptocurrency exchanges in the world. 

As Coinbase is a public company it offers a high level of safety and security due to its transparency and filings with the Securities and Exchange Commission. UK nationals are also offered a high level of protection not usually afforded by other exchanges. If your cryptos are stolen through a hack then Coinbase has a reimbursement value of up to £150,000. 

Coinbase’s cryptocurrency trading fees are higher than some other cryptocurrency exchanges. However, this extra cost is shown through the additional safeguards and security features offered. Also, they’ve taken time and capital to invest in their platform which is simple to use and easy to navigate. 

The trading fees include the spread and a Coinbase commission, with a $2 minimum to buy or sell. At the time of writing, there were nearly 100 cryptocurrencies you can buy, sell and convert. The list is growing exponentially as well and is likely to list more alt coins, along with its current offering. 

When doing a Coinbase review you will also find it provides a really good range of educational materials for beginners. You can learn about how to invest in NFTs, blockchain technology and the ins and outs of staking your coins too – which Coinbase allows you to do on some coins. 

One factor to take into consideration is the fact that deposit fees by debit card can be high at around 3.99%. However, this is in line with some other exchanges as payment companies generally have higher fees when it comes to crypto. 

However, UK bank wire transfers are completely free, which is great. You can also deposit through PayPal and other e-wallets. But, there is a 2% debit card fee to consider when withdrawing funds. 

Pros

• High transparency as publicly traded company on NYSE
• Excellent additional safeguards for UK users
• High level of safety and security of funds<
• Web platform is simple to use and navigate
• Tons of educational materials regarding cryptos

Cons

• 2% withdrawal fee to debit card

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

How to Buy Baby Doge in the UK – Coinbase Tutorial

If you want to learn how to buy Baby Doge crypto and other cryptocurrency coins, then follow the step by step tutorial outlined below using the overall best cryptocurrency platform Coinbase.

1. Create Your Account

You can open an account in just a few minutes. Just fill out a few personal details on the application form and you’re good to go. 

2. Verify Your ID

To comply with AML and KYC regulations, Coinbase will need to verify your identity. 

The two verification documents you will need are:

• A valid passport or driver’s licence
• A utility bill or bank account statement issued within the last three months

3. Deposit Funds

In order to buy cryptocurrencies, you need some funds to start with. Deposits are fee-free when using the platform and the payment methods include:

• Debit card
• Bank wire transfer
• PayPal
• Neteller
• Skrill

4. Buy Crypto!

You can buy a good range of different cryptocurrencies from Coinbase Search for your coin in the search box at the top of the platform and then click Trade to open a ticket and complete your order. 

Now that we’ve gone through how to buy Baby Doge Coin, let’s go through what the coin actually is and its future price prediction. 

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

What is Baby Doge?

Baby Doge Coin was launched in June 2021 and is based upon its father Dogecoin – one of Elon Musk’s (the owner of Tesla) favourite cryptocurrencies. However, Baby Doge Coin has faster transaction speeds and is hyper-deflationary. 

For each transaction done on the Baby Doge ecosystems, holders receive 5% from it. This is distributed automatically to Baby Doge Coin holders. This is what makes Baby Doge unique – the fact you will increase your supply of coins through every transaction done on the ecosystem. 

Currently, no one knows the identity of the team behind Baby Doge Coin but it was built on the Binance Smart Chain and is Ethereum compatible. The maximum supply of the coin is 420,000,000,000,000,000 Baby Doge Coins. 

The coin does have an aim to reach a $100 billion market cap but only a few cryptocurrencies have actually done this. Another goal of the coin – according to its whitepaper – is to rescue dogs in need which is why 2.2% of the total supply goes to a charity wallet. 

Should I Buy Baby Doge Coin?

Baby Doge Coin hasn’t increased in interest randomly. There are a variety of reasons on why it is becoming increasingly popular. Let’s have a look at some of these reasons. 

Baby Doge Coin has Real-World Uses in its Pipeline

One issue with many cryptocurrencies is the fact there is no real-world use for them. This is not the case for Baby Doge Coin. In its pipeline, there is a Baby Doge card that can be used for purchases and a partnership with Coinpayments. 

This partnership will help Baby Doge Coin to be included in e-commerce platforms such as Shopfiy and Magento. Furthermore, the coin is being accepted by different animal rescue organisations and shelters such as Furkids and Pas with Cause. 

The coin is also gaining traction as it starts to list on crypto exchange PancakeSwap and Okex, while its price is shown on CoinGecko, Gate.io and CoinMarketCap.  

You Can Scale Your Holdings Exponentially

One of the unique features of Baby Doge Coin is the fact every holder will receive 5% of Baby Doges from every transaction done on the Baby Doge ecosystem. This could really add up once e-commerce platforms adopt the coin. 

Essentially, you are gaining more coins without doing any work and could prove to be very useful as a compounding strategy when the price of the coin is rising in value. While 5% is redistributed to Baby Doge Coin holders, the other 5% is split 50/50 with half being traded into Binance Coin (BNB) to add to the liquidity pool. 

Meme Coins Can Out-Perform in a Bullish Crypto Trend

The best meme coins are cryptos that are inspired by jokes or memes through the internet and social media. These coins, such as BabyDoge and Shiba Inu, tend to perform well in an overall bullish cryptocurrency trend as they are talked about a lot online. 

Investors interested in cryptocurrency trading UK may use any weakness in the crypto market to build small positions and use dollar cost averaging strategies. This way, if the overall market moves higher, then the average cost of all the small investments bought while it was declining is much higher. 

Baby Doge Crypto Price

The Baby Doge Coin price action has been quite volatile since its inception in June 2021. On its first trading day, the coin performed very well but then declined significantly for the next month and a half. During this period of time from June 2021 to early September 2021 the coin declined 85%. 

However, this marked a huge turning point for Baby Doge Coin. From September to October 2021, just over one month, the coin rallied higher more than 1,000%. The bullish crypto trend was doing well here and meme coins followed. 

From October to early December 2021, the price of Baby Doge Coin fell more than 70% lower, erasing more than half of the gains it had achieved on the way up. But this date also proved to be a significant turning point as the price rallied higher all the way to a new record high in the middle of January 2022. This record a near 400% surge to the upside. 

Past performance is not an indication of future results

Over the period of time Baby Doge Coin has been trading, the Relative Strength Index (RSI, 14), has given some clues to its strength and weakness. For example, the RSI was strong in each of its bullish runs higher but turned lower during the bearish turns. 

Currently, the 14-day Relative Strength Index (RSI, 14) is closer to the zero level which was the same level the price turned higher in December 2021. However, historically when the RSI, 14 was trading at this point the price didn’t turn higher straight away so investor patience was rewarded. 

Baby Doge Price Prediction

The recent cryptocurrency sell off in major coins such as Bitcoin (BTC) and Ethereum (ETH) has taken the whole sector with it. But, this means there are now some coins that are trading at some very attractive price levels for long term investments. 

However, much of the coin’s future price movement will not only depend on the sentiment of the cryptocurrency sector but also how many e-commerce platforms will finally accept the coin. Real world use applications are key to investing in meme coins which can be very volatile. 

Past performance is not an indication of future results

The Baby Doge Coin chart (BABYDOGE/USD) shows a clear level of horizontal technical support around 0.000000002827. This was an area historically where price turned higher on 10 January 2022 and 22 January 2022. There is potential for buyers to turn up here once more. 

It is also a good sign that the RSI, 14 indicator is in oversold territory highlighting the potential for the price to push higher. However, if the sentiment towards cryptocurrencies sour, then the price could break through this technical support and could begin a down trend in price action. 

One option is to wait for sentiment to improve first. This could either be from the RSI, 14 indicator turning higher back towards the 100 level or waiting for the price to break through a previous high to create a new higher high cycle formation. 

The chart above shows a series of lower high peaks where sellers initiated short positions. If the price can break above its most recent lower high pearl from 8 February 2022, then it is a sign that buyers could be regaining control of the market. 

Best Baby Doge Wallet

One of the most important factors when buying cryptocurrency is to make sure it is held safely and securely. With crypto scams and hacks on the rise, it’s never been more important to keep your coins away from criminals. This is where the Coinbase Money Crypto Wallet comes in. 

When you buy BABYDOGE coin, you want to make sure you hold the coins in a secure wallet. Coinbase offers a great, safe and secure crypto wallet that is free to use. This wallet allows you to change crypto to crypto across 500 crypto pairs (crypto to crypto and fiat currency to crypto) without any third-party apps. 

Some of the best features of the Coinbase Wallet includes: an unlosable private key so you can easily recover access when needed, a private on-chain address that allows you to store and transfer cryptos easily across the blockchain. 

Other features of the wallet include high-level security plugins that will help prevent unauthorised access and DDoS protection. 

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Conclusion – Buy Baby Doge Coin

Baby Doge Coin is a unique meme coin in the fact that it has potential real-world uses in its pipeline. If the coin can be adopted on different e-commerce platforms its inherent value is likely to increase. 

The coin is also unique as you can earn more coins from every transaction made on the Baby Doge ecosystem which is a great way to accumulate the coin for compound returns. 

Coinbase – Overall Best Crypto Broker with Tight Spreads

Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.

Frequently Asked Questions on Baby Doge Coin