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How to buy Baby Doge Coin on Trust Wallet with PancakeSwap

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Source: Pixabay

Baby Doge was launched in June 2021, and it proved to be an instant hit as it saw a massive soar in its price within the first two weeks (up to 1,000 per cent!). However, this rise was followed by a nearly substantial fall, it is all ready to set out again, all thanks to a tweet by the cryptocurrency lord, Elon Musk, that implied that Baby Doge coin may have a potential to become scarce and valuable in the near future. In this article we will guide you on How to buy the Baby Doge Coin with Trust Wallet and PanCakeSwap.

Guide to purchase the token

Following the trend, many people can be seen rushing to buy the Baby Doge coin, however, the process to purchase is not that plain and simple specially if one hasn’t dealt with smaller cryptocurrency before. Thus, here is everything that you need to consider prior to buying Baby Doge coin.

  1. Do your research:

It is highly important to do proper research before investing in Baby Doge coin since it is of a highly volatile nature and the risk of loss is always very significant.

  1. Pick the right crypto exchange:

Many buyers make this mistake of picking the wrong crypto exchange to buy Baby Doge coin because it is not yet listed in cryptocurrency exchange and apps due to being small and new. Right now, PancakeSwap is the best exchange to purchase Baby Doge Coin. It is a decentralized exchange where the users contribute the crypto that is intended to be traded.

Although PancakeSwap is quite different as compared to the other exchanges, however, the procedure is not very complicated. Buyers must connect a crypto wallet and then make a trade from the exchange page.

  1. Don’t expect to buy it with cash:

PancakeSwap does not allow its users to buy the coins using cash. Using a crypto wallet is a must to make a Baby Doge coin purchase. The user can select which crypto they want to use. Binance coin (BNB) is one of the most popular choices.

  1. Set the slippage tolerance to 12%:

Slippage can be termed as a price change between the time of submitting a trade and its execution. The recommended slippage tolerance while buying Baby Doge coin is up to 12 %.

  1. Limit your spending:

The future of Baby Doge coin, no matter how promising it appears, is still shaky like its other counterparts. The experts recommend to plan the investments wisely and look at it as a lottery. It means investing a small amount of money without high expectations of returns.

VIDEO: How to Buy baby doge coin on Trust Wallet with PancakeSwap on iPhone

VIDEO 2:

About the author

Jike Eric

Jike Eric has completed his degree program in Chemical Engineering. Jike covers Business and Tech news on Insider Paper.




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