Baby Doge is a cryptocurrency that is currently available exclusively through decentralized exchanges, sometimes referred to as a DEX. Decentralized exchanges allow you to buy cryptocurrency with another cryptocurrency.
If you’re looking to buy Baby Doge, it’s essential to understand the steps required for a successful purchase.
- Baby Doge is a currency not available on centralized exchanges like Coinbase.
- You need an existing, compatible wallet to buy Baby Doge.
- The only way to pay for Baby Doge is by exchanging other cryptocurrencies.
- Baby Doge is a risky cryptocurrency that could lose value.
Understanding Baby Doge
Baby Doge is a meme cryptocurrency, similar to Dogecoin and Shiba Inu. It is currently held in more than 300,000 wallets. The Baby Doge founders suggest buying the currency using the PancakeSwap or Uniswap exchanges, although you may find it available through additional exchanges or wallet providers.
Baby Doge is a cryptocurrency token, meaning that it operates as a smart contract through existing blockchains. The Baby Doge smart contract makes the currency available through Ethereum and Binance Smart Chain wallets. Compatible options include MetaMask, Trust Wallet, Coinbase Wallet, and the wallet built into the Brave browser.
According to CoinMarketCap, the maximum available supply is 420 quadrillion tokens (that’s 420,000,000,000,000,000). The current total value of all Baby Doge tokens, assuming all 420 quadrillion tokens are in circulation, is $691 million.
Baby Doge transactions require a 10% fee. Half goes back to the Dogecoin holders, and the remaining half funds the PancakeSwap liquidity pool for Baby Doge, which may be burned or reinvested in the Baby Doge project.
Baby Doge Price History
The oldest available price history for Baby Doge goes back to June 2021, when it had a value of $0.000000000175 per token. Shortly after, in July 2021, it reached a peak value of $0.000000007695.
In the time since, the currency has maintained a value between roughly $0.0000000005 and $0.000000006. Note that the higher values here have one less zero than the bottom. The currency remains highly volatile.
How to Buy Baby Doge
The top markets for Baby Doge by trading volume are LBank, BKEX, and OKX. They account for well over half of all Baby Doge trades. On desktop, using the MetaMask wallet or similar is a good option. For mobile, a compatible app such as Coinbase Wallet could be the easiest to use.
These are the primary steps to buy Baby Doge using a desktop or laptop web browser:
- Create and fund a compatible cryptocurrency wallet: The first step is to create a compatible Binance Smart Chain or Ethereum wallet if you don’t already have one. It must be funded with Binance Coin, Ether, or another compatible currency supported by your preferred exchange.
- Connect your wallet to the exchange: Your next step is pointing your web browser to the exchange and connecting your wallet. Only unlock your cryptocurrency wallet and transact with trusted exchanges and websites to keep your assets secure.
- Set up your trade: Enter the details for your trade. Choose how much Baby Doge you want to buy. The official Baby Doge website suggests setting the slippage tolerance to 12% if you’re having trouble executing the trade.
- Enter your transaction: Click the exchange or trade button to execute your transaction. This sends the trade details to the Binance Smart Chain or Ethereum blockchain for processing. Depending on which blockchain you use, the transaction could be nearly instant or take several minutes to complete.
Once the blockchain confirms the transaction, you should see the new currency in your wallet, likely listed with the symbol BABYDOGE.
How is Baby Doge used?
Baby Doge is used as a meme coin, a cryptocurrency token that’s highly traded by online enthusiasts worldwide. It may be used for some payments through a partnership with CoinPayments.net, enabling any merchant to accept Baby Doge.
Is Baby Doge a good investment?
The Bottom Line
Baby Doge is a cryptocurrency token native to the Binance Smart Chain and available on the Ethereum blockchain. You need an existing, compatible wallet to buy Baby Doge.
Investing in cryptocurrencies and other initial coin offerings (ICOs) is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or other ICOs. Because each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author does not own Baby Doge coin.