Elon Musk has rocked the cryptocurrency this year. Many consider him responsible for a rapid downfall of Bitcoin. Some even believe he is behind the success of DOGE, Shiba Inu, and Akita Inu. Now Dogelon is another popular name, which is introduced as a universal currency.
Those memecoins have provided investors with radical returns. Their success might not last too long because they do not have any product to maintain their dream run. Dogelon on the other hand seems like a promising cryptocurrency. Should you invest in this crypto asset and hold it for profit? Let’s find out.
What is Dogelon (ELON) coin?
Renowned as Dogelon Mars, the ELON coin is an ERC20 token. It is based on the Ethereum blockchain, which is widely used by hundreds of fungible tokens. Ethereum’s secure network is now also responsible for a variety of non-fungible tokens, which has ERC-721 standard.
The official Dogelon Mars website guarantees radical developments in future, it currently has no product to back this coin. Therefore, many investors think it is not a viable cryptocurrency. Developers are promoting this coin as an interplanetary currency, which might draw many investors to this platform.
No, it’s not another meme coin!
Anything associated with the “Doge” name is considered a meme coin nowadays. That’s will not be the case with Dogelon. It is a fair cryptocurrency. Developers have worked hard to craft this project and they are constantly evolving it.
The Dogelon team is working tirelessly to undo the damage caused by schemers, scammers, and poor actors. It is being featured as an alternative to other ERC-20 tokens launched this year. Many people believe it can survive and offer great returns to early investors.
This token is a fork of Dogecoin
The website claims that the ELON coin is a fork of the Dogecoin. It is launched with a huge total supply, which the DOGE token lacks. It won’t be as scarce as the Dogecoin might get one day. The official website reveals Elon’s open letter regarding the future plans of this DeFi. You should check that letter before buying this crypto asset. Thus, you will have a full assurance that you chose the right digital asset to make an investment.
How did the token perform till now?
This crypto token is available on Uniswap since 22nd April. Its initial price was somewhere around $0.000000002. Now, this coin is trading at $0.0000001272. People, who had invested in this coin at the time of launch, are now in a superb position.
That’s a short history of how the Dogelon has performed till now. Experts believe this cryptocurrency will continue to draw people’s attention if it quickly launches a new product.
How to buy the ELON token?
The Dogelon Mars token is not a rare digital asset. However, it can still be tough to find it and acquire it. Only 50% tokens of the total supply are available for purchase. So, follow the below-given steps to buy it without any problem.
Build an account on a cryptocurrency exchange
The ELON coin is an ERC-20 token. You won’t find it on a fiat-to-crypto exchange. Therefore, you have to acquire a cryptocurrency first and then you can buy this new token.
Look for a top-rated cryptocurrency exchange. Beginners need to buy Ethereum so that they can swap it for the ELON coin. Pick an exchange, complete the registration process and KYC. Thus, you will get a legal crypto trading account. Now, all you need to do is deposit funds to start trading.
Ethereum or ETH is a more affordable digital asset than Bitcoin. However, it is also quite valuable and useful when it comes to buying other ERC-20 coins. Go to the exchange page to check the ETH token’s current price.
Now, decide how many tokens you want to buy and then complete the trade. It will charge certain transaction fees and take a few minutes to transfer Ethereum in your account.
Get a cryptocurrency wallet
A cryptocurrency wallet is a secure application developed for storing Bitcoins and altcoins. Trust wallet, Metamask, etc. are a few reliable options to choos from. Download the wallet, log in, and then transfer your ETH coins to the wallet.
Go to Uniswap
Uniswap is probably the most reliable altcoin exchange to buy the ELON token. This cryptocurrency is also listed on other exchanges if you don’t like to use Uniswap. Pick any exchange and then link your cryptocurrency wallet to your trading account.
Buy the ELON coin
Go to the Swap page if you are on Uniswap. Here you can swap your Ethereum cryptocurrency for the ELON coin. Pick the number of coins you want to acquire and hold and then make a trade. The exchange will complete within a few minutes and now you will have the Dogelon Mars coin on your digital wallet.
What problem does the Dogelon Mars coin solve, and what are the coin’s investment prospects?
As the website claims, ELON is going to be the first interplanetary currency in the world. Every settler and traveler will need this coin to use services offered out there. There will be quadrillion coins and all of them will be used for staking, rewards, and other projects.
This token has already become a popular choice in the crypto industry. It is a versatile crypto asset for those, who seek a reliable source of passive income. So, follow the given guide and buy it if you like the idea of owning a universal currency.