How to Buy Baby Doge Coin (BABYDOGE)

4.5K

What’s even cuter-sounding than Dogecoin? It’s Baby Doge. Baby Doge is a cryptocurrency with no use-case and is simply a meme-type coin. However, this hasn’t prevented traders from jumping in and taking a gamble on this cute, animal-inspired cryptocurrency. This guide will cover how to buy Baby Doge.

• Also Learn About: How to Buy Dogecoin

Disclosure: No content in this article should be taken as financial advice. Investing can be risky, so it is recommended that you consult with your accounting, legal, and tax advisors before engaging in any kind of transaction. 

What is Baby Doge (BABYDOGE)?

Baby Doge Coin is a new cryptocurrency that is being offered on the Binance Smart Chain. The coin currently has no real use case or valuable underlying technology. Traders are purchasing and trading the coin simply based on cuteness. If you are willing to take a gamble, then Baby Doge might be a good option for you!

Here’s how Baby Doge works. Each time a person makes a transaction with Baby Doge (buy, sell, or trade), they are charged a 10% fee. The 10% fee is distributed to all holders of Baby Doge, where the largest owners of Baby Doge get the biggest portion of the fee. Essentially, this is put into place to incentivize owners of Baby Doge to keep holding and to buy more.

Baby Doge claims to have a focus on charity, with a percentage of Baby Doge being donated to Paws With a Cause (which helps rescue pets).

How to Buy Baby Doge Coin on Binance

Baby Doge Coin is available on the Binance Smart Chain. This means you will need to create a Binance account and then purchase it from Pancake Swap. 

Step 1: Create and verify your Binance Account.

If you are a U.S. resident click here) to create your account and get 40% off trading fees.

If you live outside the U.S. click here to create your account and get 40% off trading fees.

Go through the guided steps to set up your account. You will be required to verify your identity in order to buy BNB to then buy Baby Doge Coin. It is a quick, and simple process.

Step 2: Deposit Fiat

You will need to connect your bank account in order to buy BNB tokens or buy with a debit/credit card. You will be able to buy BNB with your local currency. We highly recommend purchasing through connecting a bank account to avoid high fees!

Simply navigate to “Buy Crypto” on the top menu bar and choose one of the following:

• Bank Transfer (recommended for beginners + lowest fee)
• Credit/Debit Card (recommended for beginners)
• P2P Trading
• Third-Party Payment

Once you’ve chosen your preferred way to transfer fiat to your account, you’ll simply follow the on-screen instructions and move to the next step.

Step 3: Purchase BNB Tokens

Great – you’ve successfully deposited fiat into your account! Now you will need to convert your fiat (ie. USD, EUR, etc) to BNB.

Step 4: Download Trust Wallet or MetaMask

Metamask will be the easiest option to purchase Baby Doge. Metamask is simply a cryptocurrency wallet that is a Chrome extension. 

When you open Metamask, you will see that it is set to Ethereum Mainnet. You will need to switch this to the Binance Smart Chain network. Click on “Add Network” and add the below information:

Network Name: Binance Smart Chain

New RPC URL: https://bsc-dataseed.binance.org/

ChainID: 56

Symbol: BNB

Block Explorer URL: https://bscscan.com

Step 5: Purchase Baby Doge on PancakeSwap

Now, go to PancakeSwap.finance and connect Metamask to their website. You will then need to go to the exchange and buy Baby Doge by trading them for your Binance (BNB) Tokens. 

Is Baby Doge a Good Investment?

We do not recommend Baby Doge as a good investment option. Baby Doge has no real-world use-case and is risky. Baby Doge is a good option for those who want to trade based purely on speculation and take a gamble. We encourage any potential investors in Baby Doge to do their own research.

Frequently Asked Questions