Calling itself “the head of the doge family,’’ the meme coin Daddy Doge (daddydoge) is a more recent addition to the doge-themed altcoin community. Trying to create a circular system of a deflationary value system, daddydoge likens itself to an energy drink for cryptocurrency. In this article, we will be talking a bit about this altcoin, discussing how it works, and providing you with a helpful guide on how to purchase some daddydoge.
What is daddydoge?
Operating on the BEP20 Binance Smart Chain (BSC), Daddy Doge is yet another doge-themed meme coin. Sometimes referring to itself as DD, this later addition to the dogecoin community markets itself as the “good ole boy,” designed to be loyal to its family. This design choice hopes to mirror elements of the daddydoge use case.
Essentially, daddydoge is a deflationary coin that charges a high fee of 9% per transaction. Then this high fee is spread out at 3% for holders, 3% for maintenance, and 3% for marketing. The goal here is to create a feedback loop of positive press, leading to more usage, leading to more fees, and therefore more positive press. While not exactly a unique business model and certainly not brimming with broader utility, daddydoge doesn’t market itself as anything more than a memecoin with a bit of staying power.
While certain aspects of the daddydoge token are mysterious, with both its developer/s and country of origin being something of a mystery, this coin has been quite proactive in terms of engagement with its community and auditors, such as Rugscreen and Desert Swap. With a decent social media presence, daddydoge coin claims to be in partnership with various extreme sports organizations and esport communities and aims to one day sponsor a SpaceX launch.
Dadddoge makes the bold claim to be “unrugpullable,” and while its business model seems sound, it’s always a good idea to research potential coin investments diligently. We here at CryptoWallet are not authorized to provide you with financial advice, but we can still stress the importance of recognizing the potential for coin volatility and the need for a thoughtful and deep approach when making any kind of investment.
So with all of that in mind, let’s take a look at how you can get some of your very own daddydoge coins.
Step 1: Register on Fiat-to-Crypto Exchange
Daddydoge works a bit differently than other conventional tokens, so you’ll need to take a few extra steps to get some of your own. But don’t worry, just follow along and you’ll have your daddydoge in no time.
Typically, mainstream cryptos like bitcoin (BTC) or Ethereum (ETH) are used in these sorts of trades. However, being on the BNB Smart Chain, for our convenience, we’ll be utilizing Binance. (BNB)
To begin, open an account with a Fiat-to-Crypto Exchange. We’ll be using TrustWallet for this guide, which may also function as a crypto wallet for holding your cryptocurrencies once you’ve completed the procedures below. The Apple App Store and Google Play Store both have TrustWallet available for download. Follow the on-screen instructions to send/link a fiat account to your TrustWallet account after you’ve completed the download. Simply deposit the required amount of fiat cash into your own TrustWallet account.
When looking for a wallet system that best suits you, it’s always a good idea to shop around. Different exchanges will provide various pricing and services. For example, CryptoWallet provides a friendly atmosphere for newbies and crypto aficionados alike, with its high security, clean design, and simple-to-use interface! While it does not presently accept BNB, it is worth keeping an eye on for future cryptocurrency and financial requirements.
Step 2: Buy BNB with Fiat Money
You may trade your fiat currency for BNB Token at any time after your sent fiat funds appear in your TrustWallet. To begin with, open the TrustWallet app and select the “Trade” tab. Choose BNB SmartChain as your trading choice, then enter the amount you want to buy and hit the ‘trade’ button.
Several cryptocurrency exchanges, such as TrustWallet, CryptoWallet, or Metamask, will provide you with a whole array of asset price charts, trading tools, and live market data when you use these types of crypto financial services. It’s a good idea to get familiar with and pay close attention to these helpful tools since they may enable you to make more efficient financial decisions if you use them appropriately.
There will be a little confirmation wait after you’ve finished the transaction, which normally takes approximately 30 minutes but might be a bit longer depending on traffic variables. The quantity of BNB SmartChain in your TrustWallet app will be shown on the screen, as well as any other remaining funds soon after.
Step 3: Transfer BNB to an Altcoin Exchange
For your next step, you’re going to have to find an altcoin exchange platform that handles the trading pair BNB/DADDYDOGE. This process might be a little different from other exchange platforms due to daddydoge’s being on Smart Chain, but worry not, with a few steps you should have some daddydoge in no time.
So firstly, take a look here at Pancakeswap (V2) as this service will allow you to trade some BNB for daddydoge. Next, link your new TrustWallet to Pancakeswap by looking at your TrustWallet app. Find the browser tab in your app. Via this tab, search out Pancakeswap and link your wallet. Next, import the address for DaddyDoge into Pancakeswap. This can be found here on Coinmarketcap or on Daddy Doge’s official website. Now copy the contract address, paste it into the Pancakswap (V2) token, then select BNB and select 12% for slippage.
Finally, select the amount of BNB to DADDYDOGE you wish to trade and select “Trade.”
Last Step: Store daddydoge Securely
If you’ve followed along thus far, you should now have your very own daddydoge.
However, now that you’ve obtained some daddydoge, you may be unsure of what to do with it. So, first and foremost, you’ll need to consider a wallet system. Although your selections are limited when it comes to daddydoge, it is still worthwhile to look around. Your main alternatives will be TrustWallet, MetaMask, and Binance Chain Wallet.
On Pancakswap, click the “Connect to a Wallet” icon in the upper right corner of your screen (V2). Select TrustWallet from the drop-down menu, then click Next and then ‘Next.’ Then, as instructed by Pancakswap, follow the onscreen instructions. You should now be able to seamlessly link funds from Pancakswap (V2) to your TrustWallet account.
CryptoWallet, as previously mentioned, provides a number of wallet services as well as a high level of security; while it does not presently host daddydoge, it does host a variety of other coins and financial services. As a result, it’s something to keep an eye on in the future.
Other Useful Tools for Trading daddydoge
While we are not licensed to provide you with trading or financial advice, we can give you a short summary of some of the many trading tools available on most exchanges that, when understood and used correctly, may assist you in making the best financial decisions with your assets.
The On-Balance-Volume (OBV) indicator is a straightforward instrument that displays both positive and negative volume movement, as well as the trend’s value direction.
The Average Directional Index (ADI) is a simple indicator that informs traders about the strength of a supply or demand trend. The entity’s movement intensity might help you figure out how often extended motions occur.
Traders use a Stochastic Oscillator to watch the price of an asset over time and in relation to a certain event.
Can I buy daddydoge with cash?
Unlike other cryptocurrencies, daddydoge tokens cannot be purchased using fiat currency. Instead, you might purchase an existing cryptocurrency such as BNB, Bitcoin, or Ethereum, and then swap it for the altcoin you desire on an altcoin exchange. Look at the directions above to figure out how to do it.
Are there any quick ways to buy daddydoge in Europe?
When compared to other crypto deals, purchasing daddydoge may appear to be a bit more difficult. However, if you read through our offered instructions, we can lead you through each step that is suitable for the EU.
Are there any alternative platforms to buy daddydoge or Bitcoin with credit cards?
Unlike other cryptocurrencies, daddydoge cannot be purchased using fiat currency. Instead, you might purchase an existing cryptocurrency such as BNB, Bitcoin, or Ethereum, and then swap it for the altcoin you desire on an altcoin exchange. To discover how to achieve this, go to the instructions above.
Bitcoin, however, may be purchased using a credit card by registering with a crypto exchange that does so. eToro, for example, is a provider of this service.