Cryptocurrencies have taken the world by storm in the past few years. One can only imagine how the early investors felt who were way ahead of the world in investing in Cryptos before it became the norm. Forget about years ago, if you even bought cryptos like DOGE, Tron, or Shiba Inu recently then you would have made a lot of money. If you convert 1 DOGE to INR or 1 Dogecoin to USD then you get the value of 4.98 rupees or 0.062 dollars respectively. Forget about Dogecoin price in INR. If you even look at the price of 1 Tron to INR and the price of 1 Shiba Inu to INR then you get a valuation of 5.28 rupees and 0.000915 rupees respectively.
How to Convert 1 DOGE to INR?
Now we understand that these amounts may seem very small and insignificant in the grand scheme of things but if we take a look at the all-time low rate of these cryptos then we get a clear picture of just how far these coins have come.
Their all-time high prices are thousands or even lakh times more than what they are currently valued at. Now that we have spoken a bit about numbers let’s take a look at what exactly Cryptos is? Why invest in them? and discuss a few Cryptos.
What are Cryptocurrencies?
Now we all know that ever since we were born that there have been currencies in the form of notes and coins that hold some value and are used to make transactions. There are hundreds and thousands of such currencies which work in different areas/countries.
Similarly, Cryptocurrencies are also currencies but they are digital currencies that though have not received a status like money as of yet they still behave like an asset and command an exchange value. The valuation of Cryptos changes based on a decentralized system and these transactions are recorded and verified using cryptography. Before we learn to convert 1 DOGE to INR, let us understand the purpose of cryptocurrencies.
Purpose of Cryptocurrency
The intention of bringing cryptocurrency into existence was for it to serve as an alternative to cash, which got taken up by Bitcoin, the leading cryptocurrency all over the world. Now that one crypto had managed to become an alternative to currency, what was the use of other coins?
- Some cryptocurrencies (altcoins) are asset-backed currencies that help you with your investments. This means their prices are connected to the movement of a certain asset like Gold, Silver, etc.
- Certain cryptos are known as stablecoins and their value is to make sure that they bring about stability to the valuation and keep the investor’s money safe.
- Then some cryptos are connected to gaming as in they are available as collectables in online games.
- Some cryptos aren’t backed by any purpose and are just there for the people to invest in them. Such cryptos are usually purchased and kept in a portfolio for years before selling them away for profit.
Why should you invest in Cryptocurrency?
Everyone has their reasons for investing their hard-earned money in one place or another. Cryptocurrency has also emerged as a lucrative investment option over the past few years, however, if you are still reluctant to invest your money in Crypto then allow us to explain why you should invest money in Crypto.
- It is always recommended that you should diversify your portfolio and if you are someone who has money in mutual funds and stocks already and are looking for further diversification then you should surely consider investing in cryptos.
- Apart from hopes of earning a profit, you should know that when we are talking about cryptos we are talking about returns that may look unrealistic. The returns you may bag from investing in cryptos may be huge and no one wants to miss out on cashing out big.
- Inflation and Recession don’t rub their effect on cryptos and that makes them a better investment compared to various other assets and options present in the market.
- Liquidation of crypto is easy and you never need to worry about having cash on you ever again.
- Crypto has been proclaimed to be the future by tons of people who surely know a thing or two about making money. A lot of countries now accept Bitcoin payments and we already have places where it is treated as legal money.
Also Read: Is Shiba Inu a good investment for long term?
Some Cryptos of Interest
While there are tons of cryptos that people can invest in today we focus on some of them, specifically, Dogecoin, Tron, and Shiba Inu. We will also look at how to Convert 1 DOGE to INR, 1 Dogecoin to USD, the current Dogecoin price in INR, 1 Tron in INR, and 1 Shiba Inu to INR.
Dogecoin
An altcoin in nature, Doge was created as a sort of joke because of which it has earned the status of a meme coin. This coin uses the image of a Shiba Inu dog as its symbol. The coin was launched back in 2013 and has gained a lot of attention in the past couple of years due to the backing from a name that needs no introduction, Elon Musk. Doge at times has also been referred to as a Bitcoin killer. Currently, one coin is worth 4.98 rupees.
How to Convert 1 DOGE to INR?
- Open any crypto app like Binance.
- Search for Dogecoin.
- Check its price in USD.
- Now convert the USD value to INR by using a calculator.
Converting 1 Dogecoin to USD
- Follow step 1 mentioned above and open Bitcoin or any other crypto app.
- In step 2 search for Dogecoin.
- Step 3 would require the user to click on Dogecoin and they would have the USD rate on their screens.
If you want to know the value of 1 Dogecoin to USD then you can simply stop at Step 3 but if you want to know the Dogecoin price in INR then all 4 steps need to be followed. It is just one step less or more that you need to follow to obtain the required result.
Tron
Founded in 2017 by a not-for-profit organization Tron is another top crypto that deserves your attention. The coin is backed by the purpose of making the global entertainment system cost-effective.
Converting 1 Tron to INR
- Open Binance or any other crypto app as demonstrated above.
- Now search for Tron coin.
- Check for the USD price of Tron.
- Use a calculator to convert USD prices to INR.
Shiba Inu
This coin goes one step ahead of Dogecoin and is also known as Dogekiller by many. This coin also started as a meme coin but in the past few years, it has gained some serious backing and momentum from around the world.
Converting 1 Shiba Inu to INR
- Open Binance or any other crypto app as demonstrated above.
- Similarly, now search for the Shiba Inu coin.
- Check for the USD price of Shiba Inu.
- Use a calculator to convert USD prices to INR.
That brings us to the point where we say now you are ready to begin your crypto journey. Now you have all the necessary details in hand to understand what crypto is and why you should invest in them. We have given you a list of some good coins that you should look at when you begin your investing journey.
You know how to convert 1 DOGE to INR, 1 Tron to INR and 1 Shiba Inu to INR. You also have learned that 1 Dogecoin to USD and Dogecoin price in INR are different which is something that you must always pay attention to or else you will end up making an amateur mistake and that may hurt your portfolio.
Keep reading Moneymint for more crypto content!
