In the modern economy, electronic money is a necessary component, since this is precisely the new type of money. Each of us has the right to independently choose the money that is the most reliable and practical among others. The constant development of electronic money has an impact on the sphere of monetary circulation and the economy as a whole. The following directions of influence on the money turnover of the use of electronic money as a means of payment can be noted:

  • reduced demand for cash;
  • an increase in the speed of money circulation;
  • an increase in the money supply;
  • reduced income of central banks from the issue of cash.

Replacing cash with electronic money affects all monetary aggregates that represent the structure of the money supply. At the same time, electronic money may not be included in its composition. The amount of required reserve requirements for funds extracted from their issue can either exceed or be lower than the average interest rate on demand deposits.

Electronic money is a relatively new form of money. Its development is aimed at creating a favorable environment that stimulates the active introduction of innovations in the field of payment and settlement technologies.

Cryptocurrencies are virtual monetary assets. Formally, this is a mathematical code that is cryptographically protected (hence the name "cryptocurrency").

Cryptocurrency does not have a material form and only expresses the costs incurred for its production, which also testifies in favor of the allocation of electronic money into an independent economic subspecies.

Popular cryptocurrency
Popular cryptocurrency

The emergence of a new asset class can be compared to the emergence of the Internet and its subsequent large role in the economy. Blockchain technologies and the cryptocurrency market have enormous potential to influence the global economy. In the modern world, where there are many restrictions and sanctions, cryptocurrencies have opened a "second wind" after the "crypto winter". To get around the various bans, the use of digital assets is good news when it comes to over-regulation of cross-border payments.

Today we would like to tell you about investing in Dogecoin in Somalia.

How to invest in Dogecoin?
How to invest in Dogecoin?

Dogecoin: the success of the cryptocurrency 

8 years ago, a cryptocurrency, amazing with its history, appeared - Dogecoin. In 2013, Japanese woman Atsuko Sato posted a series of photos of her Shiba Inu dog on her personal blog. At that time, she did not yet suspect that this photograph was doomed to become a legend. The cute dog depicted on it became famous all over the world and became a meme. The image inspired financiers to create a personal cryptocurrency.

The owner posted pictures for her friends, where the dog was sitting with a surprised face. Photos spread across popular image boards - people added absurd captions to the photo that made it even more funny. So the random snapshot became the main meme of the decade.

In December of the same year, programmer and financier Billy Markus was inspired by the snapshot and presented his own cryptocurrency, named after a dog - Dogecoin. The project began as a joke, but the coin is still traded on the stock exchange and trading floors.

After the emergence of Dogecoin, an active user community has gradually formed around the coin. Users noted the following features and technological advantages of DOGE:

  • simplicity and democracy.
  • low cost.
  • instant transactions.
  • high level of security.

After the launch of Dogecoin, in less than a couple of weeks, the price chart showed a 300% increase. The rise of the coin was caused by the ban on investment in bitcoin for Chinese banks. But such a Dogecoin course lasted only a few days. In January 2014, DOGE showed growth and until 2017 the price of the coin remained practically unchanged. In January 2021, Dogecoin rose in price by more than 800% per day as a result of the attention of Reddit users, and in February 2021, thanks to press statements and tweets from billionaire Elon Musk, DOGE entered the world TOP 10 cryptocurrencies.

Information about Dogecoin
Information about Dogecoin

How to Invest in Dogecoin in Somalia?  

The use of the Dogecoin coin is gaining traction thanks to the many useful ways to implement it. The number of users looking to invest in Dogecoin in Somalia is growing. Consider the benefits of investing in cryptocurrency:

  • Users place special trust in DOGE. Many cryptocurrencies are not in such demand. The cryptocurrency has a high capitalization, which further strengthens the currency's position.
  • The possibilities of using it in buying and selling are extensive.
  • There is no additional charge for storing coins, as is the case with deposits or bank accounts. Advantages of most cryptocurrencies: anonymity, decentralization.
  • Opportunity to get more profit. Please note that the possible amount of profit directly depends on the volume of your investments.
  • Investing is promising. By correctly assessing the situation and investing in Dogecoin in Somalia, you can get a high profit.
  • Investing will help you insulate your accumulated capital from the effects of inflation.

If you decide to invest in Dogecoin in Somalia, you should decide on the choice of a trading platform, learn about its capabilities and functionality, and then choose the right strategy for yourself. With a long-term strategy, in the presence of a large amount of money, a person buys a certain amount of cryptocurrency and waits for its price to rise. As soon as the price reaches the level that the investor has determined for himself, he can sell it. This can take a long time.

A short-term strategy is relevant for those who do not want to wait a long time to make a profit from an investment in a cryptocurrency. By investing in cryptocurrency, having a modest amount of free money, you can wisely invest and earn additional funds.

When choosing short term investing, you need to find an online broker. The online broker will offer Dogecoin CFDs (Contracts for Difference) that allow you to speculate on both rising and falling prices. When you trade CFDs, you get the advantage of low fees and leverage.

Leverage is the ratio between a trader's personal funds and the borrowed funds provided by a broker.

Dogecoin trading conditions
Dogecoin trading conditions

How to buy Dogecoin in Somalia? 

Dogecoin began trading in 2013 at a low price, but over time, its value has increased many times. If you decide to buy Dogecoin in Somalia, then we can safely assure you that this is a profitable investment.

You can make a purchase of Dogecoin both on the crypto exchange and on the in Somalia trading platform. We will tell you how easy it is to organize trading and make money on the in Somalia investment platform. At the same time, you will not spend a lot of time on it. To get started, you will need to go through a simple registration process, and then make your first deposit. Set a budget to buy DOGE. This will avoid unexpected losses.

How to register? 

If you want to start using the best and most affordable cryptocurrency trading platform, just follow these steps. Go to the broker's website, in the "registration" section. Then after that a standard registration form will open. Enter your email (or mobile phone number) and come up with a password.

A letter will be sent to the specified e-mail, where you will see the activation code. It must be entered into a special window to complete the registration of the account.

Registrating on the investing platform
Registrating on the investing platform

How do I open a demo account? 

A beginner is primarily interested in: minimum deposit, leverage, commissions and a demo account.

Demo account - a complete copy of a real account. There are no technical or software differences from a real account - if you do not know that this is a demo account, from the outside, trading on it cannot be distinguished from trading on a real account.

What does a demo account give:

  • the opportunity to get acquainted with the platform of your chosen broker and study its interface, functionality;
  • a demo account will allow you to get a basic trading experience through the use of real trading tools and mechanisms;
  • a demo account is ideal for a novice trader to understand how interesting it is to him;
  • demo gives an experienced trader a unique opportunity to try out a new trading strategy without risking real money.

To open a demo account, after registering on the platform, select trading in demo mode.

How do I open a real account? 

After exploring the possibilities of the investment platform in Somalia, you can proceed to a real trading account. To do this, log into your account on the trading platform and select the asset you want to trade.

The procedure for opening a real account is very simple. While on the trading platform, send a request to open a real account for trading real money. To do this, fill out a few simple forms: enter information about yourself, as well as provide documents that confirm your identity and address.

Choose an account
Choose an account

How to top up a deposit? 

To trade cryptocurrency online, you will need to fund your deposit. The best cryptocurrency trading platforms support debit / credit cards and even e-wallets like Paypal. Almost all investment platforms cooperate with reliable payment systems such as Visa, MasterCard, electronic payment systems WebMoney, Perfect money, Skrill and others.

The process of replenishing the deposit will take you just a couple of minutes. You can top up your account at any time convenient for you and anywhere.

How to withdraw money? 

In your personal account, you can see your current account status. Select the amount and method of withdrawal. These can be credit or debit card payments, bank transfers, e-wallet transfers. Withdrawing to a bank card is one of the most convenient and prompt ways to deposit and withdraw money from an account. After the application is formed, the money is transferred instantly. The main condition for a successful transaction is that the card must be verified by the brokerage company.

Deposits and withdrawals
Deposits and withdrawals

Cryptocurrency is a new generation means of payment; they are much more anonymous than traditional money. Trading platforms allow you to buy, sell, and trade digital currencies online. If you are anxious to start trading cryptocurrency from the comfort of your home by following the guidelines above, you will complete your first cryptocurrency trade in less than 10-15 minutes!

Some trading platforms are home to millions of active traders. All thanks to good service, learning resources, round-the-clock support, ready to help at any time.

The popular investment platforms of 2021 offer a mobile app that gives you access to all the same features and tools found in the main desktop trading platform on PC. The application is supported for both iOS and Android operating systems.

It doesn't matter if you are a beginner or an experienced trader, anyone can trade successfully and get all the benefits of trading. We hope that our advice will help you in choosing the best trading platform for investing in Dogecoin in Somalia. Test the platform by opening a free demo account now. Try it! You will succeed! We wish you profitable deals!

The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose