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<ul><li>Doge-INR and <keyword id="11095374" type="LOCATION" weightage="20" keywordseo="doge-usd">Doge-USD</keyword> are two different denominations of <keyword id="1985091" type="PERSON" weightage="20" keywordseo="dogecoin">Dogecoin</keyword>, denoted in Indian Rupee and US Dollar, respectively.</li><li>Buyers have the option of buying Dogecoin in either of these denominations, but sometimes there can be price differences.</li><li>There are two reasons for the difference in Doge-INR and Doge-USD prices.</li><li>Find out if you should buy Dogecoin in INR or USD.</li></ul>Disclaimer: The article is for informational purposes and should not be taken as investment advice. Dogecoin has been on a seemingly unstoppable rally upward, delivering returns of over 1000% since the beginning of April, this year. Since then, Dogecoin buyers have seen their investments multiply by nearly 12 times, with the cryptocurrency breaking all of its previous records in this time period. <div type="image" title="Dogecoin 01_04_21 to 11_05_21." msid="82544563" hostid="261" caption="&amp;lt;p&amp;gt;Dogecoin prices since the beginning of April this year&amp;lt;/p&amp;gt;"></div> However, buyers of the cryptocurrency in India have been witnessing a somewhat strange discrepancy – the prices of the Dogecoin are different in INR and USD. The explanation for this is simple – the prices are influenced by the demand and supply. In addition to this, the prevailing exchange rate of the US Dollar acts as a multiplying effect on this difference. As you can see, Doge-INR and Doge-USD are usually at similar prices. But the difference between the two was much wider during mid-April, suggesting that the gap between the demand for Doge-INR and Doge-USD was wider than usual. <div type="image" title="Doge INR USD difference 01_04_21 to 11_05_21." msid="82544587" hostid="261" caption="&amp;lt;p&amp;gt;Doge-INR and Doge-USD price comparison&amp;lt;/p&amp;gt;"></div> According to data obtained from WazirX, one of the largest cryptocurrency exchanges in India, there was a massive demand for Doge-INR in India since the beginning of May, when compared to Doge-USD, resulting in users seeing a difference in prices of the cryptocurrency in Indian Rupee as opposed to US Dollar. WazirX revealed to Business Insider that its Doge-INR volume (from May 1 to May 9) stood at 2.94 billion as opposed to just 444 million for Doge-USDT (USDT is USD Tether; the prices of Doge-USD and Doge-USDT are similar). USD Tether is a blockchain-based stable coin and has a value that is close to $1. In total, according to data obtained from crypto tracker Coinmarketcap, the total Doge-INR volume, globally, since April stood at a whopping 45,530 billion. In comparison, Doge-USD volume stood at 613 billion. The two factors that cause the prices of Doge-INR and Doge-USD to vary slightly are the difference in volume between the two, and the USD-INR exchange rate fluctuations. <cmsannotation type="cmsannotation" annotationid="Which one should I pick – Doge-INR or Doge-USD?" comment="subhead" text="Which one should I pick – Doge-INR or Doge-USD?">Which one should I pick – Doge-INR or Doge-USD?</cmsannotation> The answer to this is simple – you can pick whichever you like, as the differences are usually minimal. While all India-based cryptocurrency exchanges offer both, some US-based exchanges like Binance only offer Doge-USDT As you can see in the chart above, Doge-INR prices usually follow Doge-USD prices even after accounting for volume and USD-INR exchange rate fluctuations. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/elon-musk-wants-major-holders-of-cryptocurrency-dogecoin-to-sell-most-of-their-coins/articleshow/80920866.cms">Elon Musk wants major holders of cryptocurrency Dogecoin to sell ‘most of their coins’</a> <a href="https://www.businessinsider.in/stock-market/news/the-history-of-dogecoin-a-cryptocurrency-that-started-as-a-joke-on-reddit-years-ago-and-recently-surged-600-in-a-wall-street-bets-copycat-rally/articleshow/80592974.cms">The history of Dogecoin, the cryptocurrency that surged after Elon Musk tweeted about it but started as a joke on Reddit years ago</a> <a href="https://www.businessinsider.in/stock-market/news/ethereums-ether-pushes-past-4000-for-the-first-time-and-one-crypto-analyst-who-correctly-predicted-this-target-now-expects-it-to-hit-10000/articleshow/82521106.cms">Ethereum's ether pushes past $4,000 for the first time - and one crypto analyst who correctly predicted this level now expects it to hit $10,000</a>

Here’s why Doge-INR and Doge-USD prices can be slightly different

<ul><li>There was a snap crash in cryptocurrencies yesterday evening, wiping out $1 trillion of investor wealth in a few hours.</li><li>Bitcoin, the most widely traded cryptocurrency, plunged to $31,000, less than half of its all-time-high of $64,800.</li><li>Users of major cryptocurrency exchanges like Binance, Coinbase and WazirX were left fuming after the exchanges crashed.</li></ul>Cryptocurrencies across the board crashed yesterday (May 19), wiping out nearly $1 trillion worth of investor wealth in the process. The victims of the cryptocurrency crash were not just users and investors alone – some of the largest crypto exchanges also went down after a major spike in traffic. The list includes big names like Binance, Coinbase, and India’s WazirX, which experienced outages due to a sudden surge in traffic. Bitcoin nearly halved from its peak to touch $31,000, while Dogecoin and Ethereum also registered more than 25% decline. <div type="twitter" handle="HederaStacker" handlename="Akhil Jain" image="http://pbs.twimg.com/profile_images/1394958165569986560/OqH2sJrS_normal.jpg" favoritecount="0" retweetcount="0" status="#wazirxcrash #wazirxdown What the hell I lost money because of you guys I was not able to cancel my sell order and… https://t.co/IdrkBAKFGM" createdat="1621481904000" id="1395222348064706563"></div> WazirX, one of the largest cryptocurrency exchanges in India, was also amongst those who went down due to the massive crash. But it was not the sell-off that brought WazirX down – instead, the spike was a result of users wanting to ‘buy the dip,’ the company said. <div type="twitter" handle="world_xenon" handlename="Xenon World" image="http://pbs.twimg.com/profile_images/1395255128559538177/wh__oX2g_normal.jpg" favoritecount="0" retweetcount="0" status="What's the matter with you guys? You guys are just putting India to shame. Your exchange is a sham. Who is accounta… https://t.co/S8kxxAfaEl" createdat="1621481729000" id="1395221615693074432"></div> ‘Buy the dip’ is a concept wherein traders and investors buy an asset after a fall in its prices, because they view this as an advantageous time to either get in or add to their existing holdings. <div type="twitter" handle="deepakoffline" handlename="Đeepak Bhakoo" image="http://pbs.twimg.com/profile_images/1159148830064959494/7_Xp0KwW_normal.jpg" favoritecount="3" retweetcount="1" status="20 May 2021, 9:04am. @WazirXIndia still not working properly. Please close this exchange #nischalshetty. @ETNOWlive… https://t.co/95QJoB7AXo" createdat="1621481663000" id="1395221338621497345"></div> “We’re seeing approximately 400% more traffic than what we witnessed in the previous month,” WazirX’s founder and chief executive Nischal Shetty told Business Insider. This is not the first time that WazirX has crashed this month – earlier, on May 6, when there was a massive spurt in Dogecoin prices, the <a href="https://www.businessinsider.in/stock-market/news/wazirx-users-dogecoin-cryptocurrency-report-failed-transactions-and-delays-in-orders/articleshow/82425709.cms">platform witnessed a delay in payments</a> and transactions. <cmsannotation type="cmsannotation" annotationid="WazirX not the only one facing outages" comment="subhead" text="WazirX not the only one facing outages">WazirX not the only one facing outages</cmsannotation> However, WazirX is not the only cryptocurrency exchange that crashed during the <keyword id="6214056" type="UNKNOWN" weightage="20" keywordseo="Bitcoin-Crash">Bitcoin crash</keyword> yesterday. Many global exchanges, including Binance – the world’s largest cryptocurrency exchange, also experienced outages. <div type="twitter" handle="TalhaKh26934209" handlename="Talha Khan" image="http://pbs.twimg.com/profile_images/1347845180443873283/di81-NU5_normal.jpg" favoritecount="0" retweetcount="1" status="My future mark price on the trade and the price the market is actually going on are totally different!!! BINANCE FU… https://t.co/q2zfEolxXH" createdat="1621439696000" id="1395045314533359624"></div> Others in the list include Coinbase and Robinhood, according to Downdetector. <div type="image" title="Binance" msid="82793281" hostid="261" caption="&amp;lt;p&amp;gt;Binance on Downdetector&amp;lt;/p&amp;gt;"></div> Shetty said that his company is working on a project to address these issues. “To accommodate the rapidly growing traffic and volume, we’re working on an upgrade for the WazirX trading engine named Project Raftaar. We are on track and the first version should be ready soon,” he added. <cmsannotation type="cmsannotation" annotationid="The reasons behind the crypto crash" comment="subhead" text="The reasons behind the crypto crash">The reasons behind the <keyword id="6873772" type="UNKNOWN" weightage="20" keywordseo="Crypto-Crash">crypto crash</keyword></cmsannotation> Cryptocurrencies across the board saw a major crash after China <a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-rally-loses-steam-after-china-reportedly-bans-banks-from-cryptocurrency-business/articleshow/82745554.cms">banned</a> financial institutions and payment companies from enabling or providing any services related to cryptocurrency transactions. But that’s one piece of the puzzle. The other aspect is the impact of Tesla stating that it will <a href="https://www.businessinsider.in/international/news/tesla-wont-allow-bitcoin-payments-on-cars-anymore-due-to-the-negative-impact-on-the-environment-from-mining/articleshow/82593236.cms">no longer accept Bitcoin</a> as a mode of payment, going back on its earlier <a href="https://www.businessinsider.in/business/auto/news/elon-musk-announced-now-you-can-buy-tesla-cars-with-bitcoin/articleshow/81667459.cms">announcement</a>. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/heres-why-doge-inr-and-doge-usd-prices-can-be-slightly-different/articleshow/82544583.cms">Here’s why Doge-INR and Doge-USD prices can be slightly different</a> <a href="https://www.businessinsider.in/stock-market/news/gland-pharma-ipo-from-2020-has-doubled-its-share-price-in-6-months/articleshow/82732413.cms">A super hit IPO from 2020 has finally doubled investors' money</a> <a href="https://www.businessinsider.in/business/telecom/news/airtels-india-business-is-back-in-the-black-after-a-very-long-time/articleshow/82709100.cms">Airtel's India business is back in the black after a very long time</a>

Cryptocurrency crash brings down Binance, WazirX and other exchanges – users fume as orders fail

Crypto mining – PC enthusiast’s worst nightmare or necessary evil

<ul><li>The cryptocurrency markets witnessed a major upheaval in the week gone by.</li><li>A massive crash in cryptocurrency prices wiped out $1 trillion of wealth, reports suggest.</li><li>Check out everything that happened in the cryptocurrency market last week. </li></ul>The week gone by has seen a lot of upheaval in the world of cryptocurrencies. From China reinforcing its stance against cryptocurrencies to cryptocurrency fans turning against their former idol Tesla’s <keyword id="6355315" type="COMPANY" weightage="20" keywordseo="elon-musk">Elon Musk</keyword>, a lot has happened in the span of a few days. Here’s our weekly roundup of the best cryptocurrency news from the week gone by: <cmsannotation type="cmsannotation" annotationid="Is this the third crypto bubble that has burst?" comment="subhead" text="Is this the third crypto bubble that has burst?">Is this the third crypto bubble that has burst?</cmsannotation> <a href="https://www.businessinsider.in/cryptocurrency/news/bitcoin-rally-loses-steam-after-china-reportedly-bans-banks-from-cryptocurrency-business/articleshow/82745554.cms">China’s move to ban</a> financial institutions and payment providers from offering services related to cryptocurrency transactions tanked prices of many cryptocurrencies, including the popular ones like <keyword id="6354947" type="LOCATION" weightage="20" keywordseo="bitcoin">Bitcoin</keyword>, <keyword id="2810876" type="COMPANY" weightage="20" keywordseo="ethereum">Ethereum</keyword>, <keyword id="6359140" type="COMPANY" weightage="20" keywordseo="binance">Binance</keyword> Coin and Dogecoin, among others. And this is not the only piece of news that triggered the fall – Tesla revealed that it will <a href="https://www.businessinsider.in/international/news/tesla-wont-allow-bitcoin-payments-on-cars-anymore-due-to-the-negative-impact-on-the-environment-from-mining/articleshow/82593236.cms">no longer accept Bitcoin</a> as a mode of payment, going back on its earlier <a href="https://www.businessinsider.in/business/auto/news/elon-musk-announced-now-you-can-buy-tesla-cars-with-bitcoin/articleshow/81667459.cms">announcement</a>. Most of these cryptocurrencies are still reeling from the after-effects of these announcements – Bitcoin is down by 20% over the last 7 days, Ethereum is down by over 30%, Binance Coin is down by over 36% and Dogecoin is down by over 26%. <cmsannotation type="cmsannotation" annotationid="Crypto crash wipes out $1 trillion wealth, over 8 lakh traders liquidated" comment="subhead" text="Crypto crash wipes out $1 trillion wealth, over 8 lakh traders liquidated">Crypto crash wipes out $1 trillion wealth, over 8 lakh traders liquidated</cmsannotation> The crypto crash wiped out $1 trillion investor wealth, according to a media <a href="https://www.reuters.com/technology/bitcoin-ethereum-plunge-crypto-market-cap-losses-nearly-1-trillion-2021-05-19/">report</a>. In addition to this, over 8 lakh traders liquidated their investments, according to data from <a href="https://www.bybt.com/LiquidationData">Bybt</a>, a crypto tracker. <cmsannotation type="cmsannotation" annotationid="Bitcoin falls by over 50% from its all-time high" comment="subhead" text="Bitcoin falls by over 50% from its all-time high">Bitcoin falls by over 50% from its all-time high</cmsannotation> The biggest news, by far, is the snap fall in <keyword id="2125900" type="PERSON" weightage="20" keywordseo="bitcoin-prices">Bitcoin prices</keyword>. Triggered mainly by the China ban, Bitcoin touched a low of $31,000 this week. This is more than 50% decline over the all-time high of $64,000 from mid-April this year. As a result, Bitcoin’s market capitalisation fell under $700 billion for the first time since February, this year. <cmsannotation type="cmsannotation" annotationid="WazirX and its struggles continue" comment="subhead" text="WazirX and its struggles continue">WazirX and its struggles continue</cmsannotation> WazirX continued to feel the heat of sudden surges in traffic in a week that experienced massive buying and selling activity. Despite being one of the largest cryptocurrency exchanges in India, <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-crash-brings-down-binance-wazirx-and-other-exchanges-users-fume-as-orders-fail/articleshow/82793305.cms">WazirX witnessed outage</a> for over an hour on May 19, causing users to vent their frustration on social media. Two weeks prior to that, <a href="https://www.businessinsider.in/stock-market/news/wazirx-users-dogecoin-cryptocurrency-report-failed-transactions-and-delays-in-orders/articleshow/82425709.cms">WazirX faced another outage</a> that resulted in transaction delays and failures. The company says it’s trying to solve this with Project Raftaar, but the results will only be visible once the server upgrades are done. Apart from this, WazirX has now announced that its users will not be able to deposit INR (Indian Rupee) into their accounts. This is likely due to the reported <a href="https://economictimes.indiatimes.com/news/economy/policy/rbi-tells-lenders-to-re-consider-ties-with-crypto-exchanges-traders/articleshow/82602081.cms">informal</a> diktat from the Reserve Bank of India on Indian banking companies. As a result of this, WazirX does not have a banking partner to accept and transfer money, leading to the company not accepting deposits for now. <cmsannotation type="cmsannotation" annotationid="Polygon’s Matic token defies crypto market trends" comment="subhead" text="Polygon’s Matic token defies crypto market trends">Polygon’s Matic token defies crypto market trends</cmsannotation> Polygon’s Matic token, on the other hand, has defied crypto market trends. The token has surged by over 37% in the last 7 days – highest among the over 5,000 cryptocurrencies currently available in the market. As of May 21, Polygon ranks 17th among the world’s largest cryptocurrencies based on market value, which stands at $3.7 billion. Polygon was co-founded by three Indian software engineers – Jaynti Kanani, Sandeep Nailwal and Anurag Arjun. <cmsannotation type="cmsannotation" annotationid="Fake crypto trading apps on the rise" comment="subhead" text="Fake crypto trading apps on the rise">Fake crypto trading apps on the rise</cmsannotation> According to security research firm Sophos, there are over 160 fake apps out in the wild masquerading as crypto trading apps. These apps were found to be impersonating popular apps like Kraken, Bittrex and Goldenway. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-crash-brings-down-binance-wazirx-and-other-exchanges-users-fume-as-orders-fail/articleshow/82793305.cms">Cryptocurrency crash brings down Binance, WazirX and other exchanges – users fume as orders fail</a> <a href="https://www.businessinsider.in/stock-market/news/wazirx-users-dogecoin-cryptocurrency-report-failed-transactions-and-delays-in-orders/articleshow/82425709.cms">Dogecoin surge sends WazirX servers panting for help – users report failed transactions, delays in orders</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-says-bitcoin-can-shake-off-its-bad-climate-reputation-if-top-miners-prove-theyre-using-green-energy/articleshow/82826187.cms">Elon Musk says bitcoin can shake off its bad climate reputation if top miners prove they're using green energy</a>

Crypto roundup, 21 May 2021: Elon Musk effect, crypto crash, Bitcoin prices, $1 trillion wiped out and more

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Here’s why Doge-INR and Doge-USD prices can be slightly different

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Cryptocurrency crash brings down Binance, WazirX and other exchanges – users fume as orders fail

Rounak Jain

Crypto mining – PC enthusiast’s worst nightmare or necessary evil

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Crypto roundup, 21 May 2021: Elon Musk effect, crypto crash, Bitcoin prices, $1 trillion wiped out and more

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