Trade Dog$ Token on Binance

So are you new to Binance and looking for steps to farm Dog$? We present to you an all round explainer on how to trade Dog$ token on Binance.

After months of resolving regulatory difficulties, Binance has resumed its official entry into the $300 billion cryptocurrency market in India. After a seven-month operational restriction due to compliance difficulties, the exchange was finally able to return to India after receiving formal registration from India’s Financial Intelligence Unit (FIU-IND) to signify its comeback.

Additionally, Binance is thrilled to announce that Dog$ has been added to its platform, which coincides with this significant achievement. On August 23, 2024, the farming of Dog$, a memecoin that originates from the Telegram community, is scheduled to begin. This will be the 57th project that will be introduced on Binance Launchpool.

Binance Lists Dog$: What you should know?

In order to farm Dog$, users must stake BNB and FDUSD in different pools. There are 550 billion DOGS tokens in total, with 22 billion designated for Launchpool awards. 85 percent of these tokens come from the BNB pool, and 15 percent from the FDUSD pool.

Hourly updates bring the maximum Dog$ awards for the BNB pool to 25,972,222.22 and the FDUSD pool to 4,583,333.33.

On August 26, 2024, at 12:00 (UTC), Dog$ will formally be launched on Binance. Notable trading pairs will include Dog$/USDT.

How to trade Dog$ on Binance

Step 1: Install and Set Up Trust Wallet

Download Trust Wallet from Google Play, the iOS App Store, or as a Chrome extension from the official website. Set it up by following the instructions, and make sure to securely save your seed phrase and note your wallet address.

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

Log in to Binance, purchase BNB (Binance Coin), and then navigate to the “Withdraw” section. Choose the BNB Chain network, input your Trust Wallet address, and specify the amount to transfer. Confirm the transaction and wait for the BNB to arrive in your Trust Wallet.

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

Access a DEX like PancakeSwap. Connect your Trust Wallet to the DEX using your wallet address. Select BNB as the payment currency and Dog$ as the token you want to buy.

Step 4: Locate DOGS Smart Contract if Necessary

If DOGS is not listed, go to BscScan to find the Dog$ token’s smart contract address. Copy this address and paste it into PancakeSwap to find Dog$.

Step 5: Execute the Swap

Click the “Swap” button to exchange your BNB for Dog$ tokens. After the transaction processes, DOGS will be in your Trust Wallet.

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

Conclusion

Finally, the crypto community is quite excited about Binance’s return to the Indian market and the launch of Dog$ on Launchpool. Staking BNB and FDUSD will allow users to farm Dog$, and the BNB pool has substantial returns, so users can’t wait. This decision further emphasizes Binance’s strategic position in India’s ever-changing cryptocurrency market and demonstrates the company’s dedication to regulatory compliance.

Frequently Asked Questions (FAQs) on Trading Dog$ on Binance

Q: What is Dog$ token?

A: Dog$ is a memecoin that was launched on the Binance Smart Chain.

Q: When was Dog$ added to Binance?

A: Dog$ was added to Binance on August 23, 2024.

Q: How can I buy Dog$ on Binance?

A: To buy Dog$, you can trade it against USDT on Binance.

Q: What is Dog$ farming?

A: Dog$ farming involves staking BNB or FDUSD on Binance Launchpool to earn Dog$ tokens as a reward.

Q: How much can I earn by farming Dog$?

A: The amount of Dog$ you can earn depends on the amount you stake and the overall farming performance.

Q: When does the Dog$ farming event end?

A: The duration of the Dog$ farming event is typically announced at the start.

Q: What is a decentralized exchange (DEX)?

A: A DEX is a platform where users can trade cryptocurrencies directly with each other without intermediaries.

Q: How do I connect my Trust Wallet to a DEX?

A: You can connect your Trust Wallet to a DEX like PancakeSwap using your wallet address.

Q: What is a smart contract?

A: A smart contract is a self-executing contract with the terms of the agreement directly written into code.

Q: Why was Binance previously restricted in India?

A: Binance faced regulatory challenges in India and was temporarily restricted from operating.

Q: What does Binance’s return to India signify?

A: Binance’s return to India indicates its commitment to complying with local regulations and its interest in the Indian cryptocurrency market.