How to Trade DOGS Token on Binance: A Step-by-Step Guide for New Users

Binance has officially re-entered the Indian cryptocurrency market, a move that marks its return to the $300 billion industry after overcoming months of regulatory challenges. Following a seven-month operational hiatus due to compliance issues, Binance secured formal registration from India’s Financial Intelligence Unit (FIU-IND), allowing the exchange to resume its activities in the country.

As part of its comeback, Binance is launching the DOGS token, a popular memecoin from the Telegram community. DOGS will be the 57th project on Binance Launchpool, with farming scheduled to start on August 23, 2024. For those new to Binance and interested in trading DOGS, here is a comprehensive guide on how to get started.

Key Details About DOGS on Binance

Users can farm DOGS by staking BNB (Binance Coin) and FDUSD in two separate pools. Out of the total 550 billion DOGS tokens, 22 billion are reserved for Launchpool rewards. Of these rewards, 85% will come from the BNB pool and 15% from the FDUSD pool. Users can expect to earn up to 25,972,222.22 DOGS per hour from the BNB pool and up to 4,583,333.33 DOGS per hour from the FDUSD pool, with rewards being updated hourly.

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DOGS will be officially listed on Binance on August 26, 2024, at 12:00 (UTC), with trading pairs including DOGS/USDT.

Step-by-Step Guide to Trade DOGS on Binance

Step 1: Install and Set Up Trust Wallet
Begin by downloading Trust Wallet from Google Play, the iOS App Store, or as a Chrome extension from the official website. Set up your wallet by following the instructions, securely saving your seed phrase, and noting your wallet address.

Step 2: Purchase BNB on Binance and Transfer to Trust Wallet
Log in to Binance, buy BNB, and then go to the “Withdraw” section. Choose the BNB Chain network, enter your Trust Wallet address, and specify the amount of BNB to transfer. Confirm the transaction and wait for the BNB to appear in your Trust Wallet.

Step 3: Exchange BNB for DOGS on a Decentralized Exchange (DEX)
Access a decentralized exchange like PancakeSwap. Connect your Trust Wallet to the DEX using your wallet address. Select BNB as your payment currency and DOGS as the token you wish to purchase.

Step 4: Locate DOGS Smart Contract (If Necessary)
If DOGS is not listed on the DEX, visit BscScan to find the DOGS token’s smart contract address. Copy the address and paste it into PancakeSwap to locate DOGS.

Step 5: Execute the Swap
Click the “Swap” button to exchange your BNB for DOGS tokens. Once the transaction is processed, the DOGS tokens will appear in your Trust Wallet.

Conclusion

Binance’s return to the Indian market and the launch of DOGS on Launchpool have generated excitement within the crypto community. The opportunity to farm DOGS by staking BNB and FDUSD, particularly with significant rewards in the BNB pool, underscores Binance’s commitment to regulatory compliance and its strategic positioning in India’s evolving crypto landscape. For new users, this guide provides a straightforward path to begin trading DOGS on Binance.

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