On the Uniswap exchange, you’ll be able to swap Ethereum for Dogelon Mars. After you’ve tapped on the Settings icon, you’ll land on the “Manage” page. On your wallet, you’ll see a list of cryptocurrencies that you own. Once you’ve verified your recovery phrase, your wallet will be successfully created. The recovery phrase is used to access your wallet on Trust Wallet, so you cannot lose it.

After the tremendous success of Dogecoin and Shiba Inu, the ELON was finally released in 2021. Dogelon, on the other hand, claims to have loftier ambitions than the rest of the competition. The declared goal of the project is to establish an “intergalactic currency” usable by future space settlers on Mars and beyond. The principal token of the project, ELON, has very limited use cases in the actual world as of early 2022. According to CoinMarketCap, the best places to buy Dogelon Mars are Poloniex, Uniswap, Crypto.com, HotBit, and AOFEX based on their confidence indicator algorithm. This is done by comparing the reported volume and the volume on their platform.

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You will need ETH as your base currency to swap for ELON on a decentralized exchange (DEX) or a centralized exchange. ETH is the native currency of Ethereum’s blockchain and one of the most popular cryptocurrencies in the world. You can buy ETH from platforms like Coinbase, Binance, or Crypto.com using fiat money or other cryptocurrencies. Dogelon Mars (ELON-USD), another entrant in the meme token space, aims to efficiently ride the coattails of the Dogecoin (DOGE-USD) craze and leverage the star power of Elon Musk. With more than 40% of its tokens in the hands of the Methuselah Foundation, this concentration leads to market manipulation and a lack of long-term upside. Dogelon Mars is a community-driven cryptocurrency project inspired by Dogecoin and SpaceX founder Elon Musk’s vision of interplanetary colonization.

  • The most reliable place to store your coins is to store them in hardware wallets, where your funds are stored offline.
  • Like most fungible tokens on the Ethereum network, Dogelon Mars also uses the ERC-20 token standard.
  • Perhaps an even bigger concern is its centralization, significantly influenced by founder Justin Sun, which contradicts the decentralization ethos of blockchain technology.
  • With a current market capitalization of over $100 million, ELON has emerged as a leading meme coin supported by an enthusiastic global community.

Depending on the traffic, one of these will provide a swap with a lower fee than the other, so make sure to check that too. You can either buy Ethereum on Trust Wallet or from a cryptocurrency exchange like Binance. Furthermore, US residents should include their Social Security Number, home address, and a driver’s license.

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Connect your wallet, select ELON as the token to buy, input the amount of ETH, and confirm the purchase while leaving some ETH for fees. According to Dogelon Mars’ website, Dogelon is a fork of Dogecoin. However, the token has a much larger maximum supply than DOGE, making the asset less scarce.

How To Avoid Cryptocurrency Scams – Basic Guide

The cryptocurrency market recognizes Ethereum’s shortcomings — such as high costs and less-than-ideal speed — and any new project which addresses these issues has major potential. However, ICP has been characterized by rapid and erratic price swings, making it a highly unpredictable investment. Exodus is a digital currency wallet that provides a platform where blockchain assets can be exchanged. It is a software wallet that is available for Windows, Linux, and Mac operating systems. Exodus supports over 80 different digital assets, including popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, as well ass Dogelon.

While the Ellipal Titan comes in at a higher price than its competitors, the company is currently offering a $30 discount on its wallet. This makes the hardware wallet comparable to other premium cryptocurrency wallets, and the Ellipal Titan offers more premium features than any other crypto wallet on the market. The Dogelon Mars project has seen tremendous growth over the past year since launching its ERC-20 token; ELON. With a current market capitalization of over $100 million, ELON has emerged as a leading meme coin supported by an enthusiastic global community. Apart from the Ethereum fees, you will need to pay for sending Ether tokens to your cryptocurrency wallet.

How to buy other crypto assets

Now, withdraw your Ethereum to your Metamask wallet using the Metamask Ethereum address that you can find at the top tab in the Metamask wallet. After you are done with installing and creating your Metamask wallet, you have to fund it with Ethereum. The best way to buy Ethereum is through a centralized exchange. For this example, we will use Binance; however, Ethereum can be bought in nearly every exchange. Once you’ve imported Dogelon Mars to Uniswap, enter the amount of Ethereum that you want to swap for it.

It has been said that the ELON token will operate as an “intergalactic currency” in the future, allowing future space colonizers to utilize it on Mars and other planets. Despite this, the team working on the project has yet to make public either a whitepaper or a full roadmap explaining their best mt4 forex brokers 2021 metatrader 4 brokers top 10 list strategies for future development. Dogelon’s official website and Medium articles comprise hypothetical backstories concerning multi-planetary colonization. These tales are told from the point of view of a galaxy-brained canine humanoid that bears a passing resemblance to Elon Musk.

However, there are thousands of serious projects that have been doing just the opposite. As part of these projects are Cardano, Binance Coin, Elrond, and of course, Bitcoin. This is a cryptocurrency which is based on Ethereum and it relies on blockchain technology for its exchange.

After you’ve downloaded Trust Wallet, you need to create a new wallet. 50% of it is sent to Vitalik Buterin (one of the co-founders of Ethereum) and the other 50% is locked with Ethereum on Uniswap. Dogelon Mars has a circulating supply of 1,000,000,000,000,000 ELON. Investing in virtual currency has produced jaw-dropping returns for some, but the field still presents risks. There are guides to manage an unofficially supported ERC-20 token on Ledger and Trezor.

We are curious to see how Dogelon Mars will buy into the regeneration of the market this or next year. That aside, we will go over ELON’s performance ever since its release, up until today, before you decide whether to buy Dogelon or not. The price history of a token is an important part of its “journey”. This gives us an adequate idea of its evaluation – both past and present. It is also a good idea to include this part during your research on a particular token.

Published On: December 19th, 2023 / Categories: Cryptocurrency service /