Meme coins are new types of cryptocurrencies that have gotten the attention and acceptance of many crypto enthusiasts in the last one year. They are often created with certain themes that convey humour and fun rather than having viable use cases. Some are created from an internet meme or some other characters like dogs or guerillas.
Dogecoin was the first meme coin to gain acceptance, followed by the rise of Shiba Inu and other projects. Recently, a new meme coin, Dogelon Mars, has joined the lists of popular meme coins and it has succeeded in establishing itself at the top of the meme coin space. This is due to the high returns it delivered to its early investors.
In this article, you will learn about how ELON coin works, how and where to buy ELON coin easily, and the latest news on ELON coin.
What is ELON?
Dogelon Mars is a new dog-themed meme coin that runs on Ethereum and Polygon network. It operates in a similar way to other successful dog coins like Dogecoin, Shiba Inu and Floki Inu.
Dogelon Mars is inspired by popular themes and personalities in the meme coin space like Elon Musk and Mars. Hence, Its name is a combination of Dogecoin and Elon Musk, the billionaire entrepreneur who often supports Dogecoin. It also relates its nature to that of Mars, suggesting that Dogelon will experience a massive upward movement to the moon.
Dogelon Mars coin has a total supply of 1 quadrillion and has sent half of it (500 trillion tokens) to Ethereum founder Vitalik Buterin. While it’s still unknown if Buterin will ever sell his Dogelon, there are some certain risks this has attracted to the coin. For instance, if Vitalik Buterin sells all his Dogelon Mars tokens, it will reduce the price of the token greatly.
The other half of ELON tokens were sent to Uniswap’s DEX to provide liquidity for traders. Sending the rest of the supply to Uniswap enables the market to decide the price of Dogelon Mars without any influence from the team itself.
Dogelon Mars token isn’t built on its own blockchain and doesn’t have a whitepaper or an established ecosystem. It relies on the active participation of its community members in the form of Collective jokes to drive the adoption of the token. Recently, the Dogelon team announced the upcoming addition of DeFi and staking features into the ecosystem.
How to Buy Dogelon Mars
It is well known that buying meme-coins can be quite complicated compared to purchasing high market-cap cryptocurrencies like Bitcoin and Ethereum (eth). However, we have put together a step-by-step guide on how to buy dogelon for you. Here is how to buy Dogelon Mars.
Step 1: Register on Fiat-to-Crypto Exchange
To buy dogelon, the first thing you need to do is to buy USDT on a fiat-to-crypto exchange like CryptoWallet, which you can exchange for ELON later. This process is fast and easy for new users.
You can easily set up your account by passing a quick verification check.
When your verification is successful, your account will be all set and ready for the next step.
Step 2: Buy USDT with fiat money
The next thing to do is to fund your newly created account using either your credit card, debit card, or bank transfer. This makes buying USDT as easy as shopping online.
When you have funded your account, migrate to the exchange section of the app and select USDT on the trade tab.
Choose the amount of USDT that you desire to buy.
Confirm your transaction. Your USDT will be immediately deposited in your in-app wallet.
Step 3: Transfer USDT to an Altcoin Exchange
The next step is to transfer your USDT to an Altcoin exchange that supports the ELON/ USDT trading pair.
You can transfer your USDT to exchanges like Gate.io, Crypto.com, Kucoin, OKEX, BKEX, Huobi, among others.
To transfer your USDT from CryptoWallet safely, follow these steps.
Open the CryptoWallet App and go to the wallet section. Select USDT
Choose the amount of USDT you want to send. Bear in mind that the blockchain will charge some network fees.
Enter the exchange address you want to send USDT to.
Once you have entered a compatible USDT address, confirm the transaction and your USDT will arrive at the exchange you sent it to.
From any of the supported crypto exchanges, you can buy dogelon mars with your USDT.
Last Step: Store ELON Securely
If you are looking for a secure way to store your ELON for a long time, there are different ways you can keep it safe. Storing your ELON on Hot Wallets or online wallets could expose your tokens to some security breaches. The most reliable place to store your coins is to store them in hardware wallets, where your funds are stored offline.
Hardware wallets are often USB-enabled devices that store some key information like the recovery phrase of your wallet in a more durable way. The security of the wallet is constantly maintained by their manufacturers. Ledger Nano S and Ledger Nano X are the most popular hardware wallets. They cost around $50 to $100 depending on the features they are offering.
Although hardware wallets are a good option for storing crypto, they are less convenient to use and access. CryptoWallet doesn’t store ELON but it securely stores hundreds of popular cryptocurrencies including, XRP, BTC, ETH, LTC and USDT. You can also spend your crypto assets as cash with the CryptoWallet debit card. All these make CryptoWallet a preferred online wallet for convenient trading and storage of high-cap currencies.
Other useful tools for trading ELON
Apart from wallets and exchanges, there are also useful trading tools that can be used in trading ELON. Such tools include a VPN, a charting tool, and a tool for monitoring crypto trends. While making use of a hardware wallet to store your cryptos, you need to make use of an encrypted VPN connection while you trade. This makes it more difficult for hackers to intercept or access sensitive information from your wallet, especially when using a public Wifi connection. Here are some good trading tools you can use.
NordVPN is one of the best VPN services that exist. It has been used by several individuals for almost a decade. It offers a high-level encrypted connection that allows you to opt-in to block malicious websites and ads with their CyberSec feature. You can connect to 5000+ servers in 60+ countries based on your current location, guaranteeing you to always have a smooth and secure connection wherever you are. It doesn’t have any bandwidth or data limits and it is among the cheapest VPN services right now (only $3.49 per month).
Surfshark is a relatively new VPN service that has over 3200 servers distributed in 65 countries in the world. Apart from its VPN feature, it has other useful features including CleanWeb™, which actively blocks ads and tracking pixels. It also blocks malware and phishing attempts while you are interacting with your wallet online. Surfshark allows you to connect many devices and share the services with friends and family.
Tradingview is a popular trading tool that provides live trading charts for both crypto and stocks. It has a lot of technical indicators for traders to choose from. They have both free and premium features, but their free feature is enough to give basic trading indicators for both crypto and stocks.
CoinMarketCal is a popular crypto trading tool that helps traders buy rumours and sell the news. This trading tactic is what many traders make use of today. The tool acts as a calendar that shows upcoming and current events on different coins. You can make use of it to monitor events concerning ELON coin.
Can I buy ELON with cash?
There is no direct way to buy ELON with cash. However, you can use a reliable exchange like CryptoWallet and Coinbase wallet to purchase USDT with fiat money first. Then you can complete the rest of the steps by transferring your USDT to supported AltCoin exchanges that have the ELON/ USDT trading pairs.
Are there any quick ways to buy ELON in Europe?
Yes, there are quick ways to buy ELON in Europe. Europe is one of the easiest places to buy most cryptos in general. There are even exchanges like CryptoWallet which lets you simply open an account and buy popular cryptos with fiat currencies. Afterwards, you can quickly transfer USDT or ETH to other exchanges such as Kucoin and Gate.io to buy ELON.
Are there any alternative platforms to buy ELON or Bitcoin with credit cards?
Yes. It is also very easy to buy Bitcoin with credit cards on CryptoWallet and Coinbase. CryptoWallet is an instant cryptocurrency exchange that allows you to exchange crypto fast and buy it with your bank’s credit card. It has a very easy to use interface and the buying steps are quite self-explanatory.