Convert Dogecoin to Indian Rupee – Forbes Advisor INDIA
- December 27, 2022
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Cryptocurrency has gained significant popularity in India and has a wide range of investors worldwide. You can easily check the currency value of Dogecoin in rupees just like a normal currency converter calculator.
Visit our Forbes Advisor Currency Calculator portal and check the value with live exchange rates. You can conveniently check DOGE To INR exchange rates within seconds.
What Is Dogecoin?
Dogecoin is owned by engineers Billy Marcus and Jackson Palmer. Billy is an International Business Machines (IBM) engineer and Jackson is an Adobe engineer. They both launched DOGE in the year 2013. Dogecoin has an image of a Shiba Inu dog as its logo and is a peer-to-peer cryptocurrency. The coin got popular because of the famous Shiba Inu Dog meme and it serves as a playful alternative to traditional cryptocurrencies such as Bitcoin.
Dogecoin provides a secure environment for its users. It is an inflationary coin and the supply of DOGE is unlimited. Hence, the value of Dogecoin is low compared to other altcoins.
How To Convert DOGE To INR?
You can convert Dogecoin (DOGE) to Indian Rupee (INR) by cryptocurrency exchanges used in India to trade cryptos. The popular online platforms are CoinDCX, Zebpay, WazirX, BuyUCoin, etc. You can also convert it through the peer-to-peer exchange platform and sign up for it. Choose the location you desire and find the buyers and using the marketplace send them a trade request.
Where Can I Buy/Sell DOGE In India?
In India, Dogecoin cryptocurrency can be traded through a variety of platforms that provide buying and selling services. Cryptocurrency exchanges are one of the platforms that help users to trade DOGE. Users can make an investment as low as INR 100 in less than a minute in DOGE.
Steps To Buy and Sell Dogecoin
You can trade in cryptocurrencies like DOGE from crypto exchange platforms. For example, follow the below steps to trade from the WazirX online platform.
Step 1: Visit the WazirX portal and select the Buy or Sell Option. Choose the options according to your convenience whether you want to sell or purchase DOGE.
Step 2: Enter the value and rate at which you want to trade DOGE. For instance, while executing your order to purchase you can select the lowest price choice and when you want to sell you can select the highest price choice and then place the order.
Step 3: For buying, once your order is executed, you will receive bitcoin in your funds.
Step 4: You will receive INR in your funds, once your order is executed and later you can withdraw it to your bank account.
Exchange Rate Of DOGE In India
The current live value of 1 DOGE as of Dec. 21, 2022, is INR 6.01. If you wish to purchase 5 Dogecoin it would cost you INR 30.06. Inversely, INR 1.00 would let you trade for 0.17 DOGE while INR 100.00 would convert to 16.67 DOGE, without including any platform or gas fees.
In the past week, the exchange rate of DOGE has increased by 20.32%. On the other hand, in the last 24 hours, the rate has changed by 1.96%. That means the highest exchange rate of 1 Dogecoin to Indian Rupee was INR 0.07566 and the lowest value of 1 Dogecoin was INR 0.07135. The value of 1 DOGE was INR 6.28 last month which is an increase of 4.21% from where it is today. If we look back a year, DOGE has changed by INR 8.15. The value of DOGE in a single year has decreased by 57.56%.
DOGE To INR Conversion Table
The below conversion table from DOGE To INR is as of Dec. 21, 2022
INR To DOGE Conversion Table
The below conversion table from INR To DOGE is as of Dec. 21, 2022
Taxation On DOGE In India
Dogecoin is a cryptocurrency and taxation on cryptos can be a confusing aspect in India. There was no Goods and Services Tax (GST) or Income Tax Act that defined cryptocurrencies. The Finance Minister in the Union Budget 2022, proposed a tax regime for cryptocurrencies that fall under the virtual assets category. All cryptocurrency holders are required to maintain and report the profits and losses as a part of their income.
- A 30% tax deduction will be charged on the salaries from the transfer of virtual assets.
- A deduction of 1% tax deducted at source (TDS) on the buyer’s payment if it stretches across the threshold limit.
- If cryptocurrency is received as a token of gift or transferred by any means, it is subjected to be taxed at the receiver’s end.
- The loss from any digital asset investment is not balanced against other income.
DOGE Price History In India
The year 2021 was indeed a favorable year for Dogecoin since its opening. In 2021 DOGE had a massive hit of over 3100%. The initial price was INR 0.43 at the beginning of the year. The cryptocurrency reached INR 2.58 by February and rose to INR 56.03 in the first half of May. Even with the increased value, the trend of positivity did not work for DOGE. At the end of the year, DOGE closes its price at approximately INR 14.
To trade cryptocurrencies it is required to do proper research and have a knowledge of ups and downs in the crypto world. Check the exchange rates while crypto conversion. Choose the platform that provides the best exchange rate and has minimal transaction charges.
Frequently Asked Questions (FAQs)
Can Dogecoin be exchanged for INR?
Yes, you can exchange DOGE for INR. You have to simply sell your Dogecoin for Indian Rupee on a crypto exchange platform.