We all know Elon Musk as the biggest DogeCoin promoter. Now, he has a new surprise for fans-Baby Doge.
Elon has been tweeting about baby doge for a while now. You can find the coin on Binance Smart Chain.
What is Baby Doge?
According to the project’s social media accounts, Baby Doge is about three weeks old. As they announced, they are currently growing and have 195K holders, including 25K new users, added after Elon Musk’s Twitter post: “Baby Doge, doo, doo, doo, doo, doo…”
In essence, Baby Doge is a deflationary token, which means it values scarcity. This is the main difference from Dogecoin because it’s father’s token supply is unlimited.
Today there is a coin burning plan involving 30 million coins. Lower supply or higher demand dynamics also push prices up but in the short term.
A brief history of Baby Doge
Baby Doge is the sequel to the project’s larger parent company Dogecoin. The baby version strives to be faster, “super deflation.” It has a built-in betting system that allows users to earn more coins.
The website stated that the mortgage system is designed to incentivize users. The coin “holders will automatically charge a 5% fee from every transaction that occurs on the Baby Doge network.”
One of the critical use of it cases is to rescue dogs. It cooperated with Paws with Cause, which collaborated with dozens of American shelters to make the first donation along these routes. The coin outlines the multi-stage roadmap of the project. The plan includes expanding the user base, airdrops, NFTs, and Tesla giveaways.
Based on the tone of comments made by Reddit members, cryptocurrency investors seem to be divided. The bottom line is whether Baby is worth trading, or it is created only to help DogeCoin.
So far, the coin has been listed on the LBank exchange on the BABYDOGE/USDT trading pair on July 1. It will also be listed on XT.com.
How to buy
- Open Binance account-Open a Binance account to get started. Although Baby Doge is not listed on any centralized exchange, you can buy it on Binance’s DEX PancakeSwap.
Before using PancakeSwap, you need to have BNB tokens in your encrypted wallet.
- Download Trust Wallet or MetaMask–After receiving BNB tokens on Binance, you need to send them to an encrypted wallet connected to PancakeSwap.
The most straightforward crypto wallet to use with PancakeSwap is MetaMask, because it has a Google Chrome extension that makes it easy to interact with the exchange.
- Make Your Purchase–After setting up the wallet, buying cryptocurrency on PancakeSwap is a relatively simple process.
Go to PancakeSwap.finance and connect your wallet to the website. After clicking on the wallet, go to the exchange and exchange Binance Coin on the platform to buy the coin.