What Is Baby Doge Coin?

About Baby Doge Coin (BABYDOGE)

Baby Doge says that it is, above all, the best community. This group of like-minded crypto enthusiasts is built around a cryptocurrency with a cute puppy mascot as well as a heavy reference to Dogecoin.

BABYDOGE is built on Binance Smart Chain and has a supply equal to 420 quadrillions. Because of such a huge amount, the team tries to fight inflation. For this purpose, the burn wallet holds over 45% of the supply. After every transaction, more coins are destroyed. 

A 10% tax is included in all transactions. 5% of it is redistributed among BABYDOGE holders. The other 5% provides liquidity in the tokens’ LP.

The ecosystem also includes:

1. A crypto exchange. It offers more than 20 cryptocurrencies, including ETH, BNB, and USDT.
2. An NFT collection. The team created 10,000 unique 3D dog images on Ethereum that cost 0.14 ETH each. There are also digital wearables for the Decentralands Metaverse. NFT sales are used to help dog shelters. Buyers have voting power over the charity activity.
3. A store. The project sells merchandise, and the proceeds are given to charities.

Additionally, the Baby Doge team is going to launch a credit card, a crypto wallet, and an NFT marketplace.

The project provides users with a forum to engage in discussions on a variety of topics, as well as a voting platform where proposals can be added by both the core team and community members. The project places great importance on its community, and this facet is rapidly expanding. As of April 2023, Baby Doge's Twitter account boasts a following of 1.9 million.

The project was audited by Certik and got a security score of almost 93%.

Similar to other meme coins, BABYDOGE experiences significant price fluctuations. In 2021, for instance, its value surged by 228.3% following this tweet from Elon Musk:

Where did Baby Doge Coin (BABYDOGE) come from?

On June 1, 2021, Baby Doge started operating. However, no details regarding team members are currently accessible. The team decided to stay anonymous.

The project’s main mission is charity. They aim to help dogs and spread awareness about animal adoption. The team has given over $1 mln to various causes. For example, they have helped such organizations as Best Friends Animal Society, ASPCA, North Shore Animal League, and others.

What are the advantages of Baby Doge Coin (BABYDOGE)?

1. Passive income. BABYDOGE holders are rewarded when others make transactions.
2. Charity. The project allows users to help charities.
3. Quickly growing community. The project gained over 100,000 holders in the first month of existence.

What are the disadvantages of Baby Doge Coin (BABYDOGE)?

1. The lack of innovation. Even though Baby Doge has a lot of plans, currently, it is very similar to lots of other meme coins which are often criticized for not contributing to the development of blockchain technologies because they do not introduce any fundamentally new ideas.
2. Lack of transparency. The team members are not mentioned. Furthermore, the charity work details are not disclosed (for instance, what percentage of the merchandise sales profit goes toward this goal).

How to buy Baby Doge Coin (BABYDOGE) on SimpleSwap?

If purchasing BABYDOGE is on your mind, SimpleSwap is the best place to do so. You will find all the necessary steps in this short guide:

1. Select the cryptocurrency you would like to exchange (e.g., Bitcoin). Enter the amount you want to swap.
2. Choose BABYDOGE in the second drop-down list (the crypto you would like to receive). You will see the estimated amount that you will get after the exchange.
3. Click the Exchange button.
4. Enter the Recipient's Address. BABYDOGE will be sent there. Please check that you entered the right address.
5. Create the exchange.
6. You will see the BTC deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange. After that, follow the instructions and wait for tokens to reach your wallet.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.