New to Binance? step-by-step guide to trade DOGS token

As a seasoned cryptocurrency investor with over a decade of experience in this wild and ever-evolving digital frontier, I must say that Binance’s re-entry into the Indian market is not just a significant event but a testament to the resilience and adaptability of the crypto industry. Having navigated through numerous regulatory hurdles myself, I can appreciate the efforts Binance has made to ensure compliance, paving the way for more legitimate and regulated trading opportunities in this space.


Binance, following successful navigation of regulatory obstacles, has now formally re-established its presence within the massive $300 billion Indian cryptocurrency market. The exchange was given official approval by India’s Financial Intelligence Unit (FIU-IND), signaling its resumption of operations in India after a seven-month hiatus due to compliance concerns.

Additionally, we’re thrilled to share that Dogs (DOGS) will be joining our platform as well. Originating from the Telegram community, DOGS is set to become the 57th project featured on Binance Launchpool, with farming commencing on August 23, 2024.

Are you a newcomer to Binance and seeking guidance on how to start farming DOGS? Here’s a comprehensive guide on getting started with trading DOGS.

Binance Lists DOGS: What you should know?

As a crypto investor, I am currently participating in the process of “farming” DOGS tokens. To do this, I’ve staked my BNB and FDUSD in separate pools. Out of the total 550 billion DOGS tokens, a significant portion, approximately 22 billion, has been set aside for rewards through Launchpool. Interestingly, around 85% of these rewards come from the BNB pool, while the remaining 15% is sourced from the FDUSD pool.

Users stand to gain a maximum of approximately 25,972,222.22 DOGS every hour from the BNB pool and around 4,583,333.33 DOGS per hour from the FDUSD pool. These rewards are updated every hour.

On August 26, 2024, at 12:00 UTC, it has been announced that Dogs will be available for trading on Binance, featuring the trading pairs Dogs/USDT.

New to Binance? step-by-step guide to trade DOGS token
New to Binance? step-by-step guide to trade DOGS token

How to trade DOGS on Binance?

Step 1: Install and Set Up Trust Wallet

1. Option: Get Trust Wallet via Google Play, the iOS App Store, or directly from the main site as a Chrome extension. Follow the setup guidelines and remember to safeguard your recovery phrase and jot down your wallet’s address.

Step 2: Buy BNB on Binance and Transfer to Trust Wallet

As a researcher, I’ll guide you through the process of moving Binance Coin (BNB) from Binance to my Trust Wallet. First, I log into my Binance account. After that, I buy some BNB tokens. Then, I navigate to the “Withdraw” section. Here, I select the BNB Smart Chain network, enter my Trust Wallet’s address, and decide on the amount to transfer. Once confirmed, I patiently wait for the BNB to appear in my Trust Wallet.

Step 3: Trade BNB for DOGS on a Decentralized Exchange (DEX)

Step 4: Locate DOGS Smart Contract if Necessary

As an analyst, when I discover that a certain token like DOGS isn’t explicitly mentioned, here’s what I do:

Step 5: Execute the Swap

As a researcher, I invite you to click the “Swap” button, initiating the process of exchanging your BNB for DOGS tokens. Upon successful completion of the transaction, you’ll find your newly acquired DOGS tokens securely stored in your Trust Wallet.

And yes! You’ve successfully bought DOGS tokens using Binance and Trust Wallet.

Conclusion

To summarize, the crypto community has shown tremendous excitement about Binance’s return to the Indian market and the arrival of DOGS on Launchpool. Users are looking forward to the chance to cultivate DOGS by depositing BNB and FDUSD, with attractive rewards offered in the BNB pool. This action not only underscores Binance’s dedication to adhering to regulations but also emphasizes its influential position in India’s vibrant cryptocurrency scene.

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2024-08-21 16:20