Five things you need to know about Baby Doge

Category: Blockchain Crypto Fintech

Baby Doge is quickly becoming one of the most popular cryptocurrencies in the world, but how do you buy Baby Doge? Will it surpass Safemoon?

In a time when crypto is becoming a popular option for many investors, new crypto tokens have appeared non-stop on the market. From Safemoon to Shiba Inu, these newcomers have proved to be extremely popular gaining millions of followers.

Baby Doge is no different as it has hit the ground running with many crypto fanatics scrambling to get their hands on the token at an early price. Due to the complicated buying process and the fact that Baby Doge is new, we thought we’d give you a run through of 5 important factors to note!

1. The purpose

First off, the most important fact to know about Baby Doge is – what is its use? It’s a brand new cryptocurrency that just hit the market (June 2021) but unlike many other coins, it has a unique goal – To save as many dogs as possible. Baby Doge is reportedly the first charity that is focused around dogs and has since donated $100,000 to dog charities. Furthermore, it is considered to be the child of the world-renowned crypto – Dogecoin.

Baby Doge rose to fame when a certain someone tweeted about them. That someone was obviously the one person who is both loved and hated by the crypto community (depending on where your money is) – Elon Musk.

Elon Musk-tweet-baby doge

Once this tweet went live, Baby Doge experienced a rally and caught people’s attention from all over the world.

Coinmarketcap’s description explains it perfectly:

“Baby Doge has learned a few tricks and lessons from his meme father, Doge Coin. A Birthed by fans of the Doge community. Baby Doge seeks to impress his father by showing his new improved transaction speeds & adorableness.

He is Hyper-deflationary with an integrated smart staking system built in so more baby doge are being added to your wallet. Simply Love, pet, and watch your baby doge grow.”

2. Buying process

The buying process is what stops a number of people from actually investing in Baby Doge. The process is not simple like other established coins as it is not available on a number of exchanges. What one must do is

Purchase it via Pancake Swap V2, the process:

Make sure to connect your digital wallet to Pancake Swap (Metamask or TrustWallet for example)

Ensure that there is BNB in your digital wallet (if not, transfer bnb from your binance account to your digital wallet)

Once you have selected the right network and selected the right slippage – you can now purchase Baby Doge and have it transferred to your digital wallet.

3. Slippage

We mentioned slippage in point 2, but what exactly is it? Slippage is the price you pay between the time you submit a payment & its execution – the higher the slippage fee, the faster the transaction happens. It is imperative that the slippage is adjusted to 12%. The reason? Baby Doge is an extremely volatile crypto and therefore, the transaction will not go through with a low slippage of 5%.

4. Sports coverage

Although it’s new to the market, Baby Doge is making waves in the sports industry. The new cryptocurrency is set to make it’s NASCAR appearance this Saturday, by featuring on driver Brandon Brown’s No. 68 Chevrolet Camaro.

Brown expressed his excitement at this partnership since he is a dog owner and lover himself which aligns his values with its initiatives. Due to Baby Doge’s goal of helping dog charities, expect the cryptocurrency to gain a high number of supporters.

5. Safemoon competitor?

Baby Doge is the new kid on the block but could it reach the levels of Safemoon? The difference between the two is that it has had public support from Elon Musk, who unfortunately, has a massive influence on the crypto market. It will take a lot from Baby Doge to reach the popularity level of Safemoon which was the most searched for crypto for a number of weeks. However, with Musk’s backing – anything is possible?

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