What is Eloncoin (ELON)? How to Buy and Store Eloncoin Explained

Eloncoin, also known as Dogelon Mars (ELON), is a meme-inspired cryptocurrency that draws inspiration from tech mogul Elon Musk, famous for his ventures like Tesla and SpaceX, as well as his prominent presence in the crypto world. 

Launched in April 2021, Eloncoin is one of the meme coins that has gained attention due to its playful branding, aligning itself with the growing "to the moon" meme culture.

In this article, we'll explain everything you need to know about Eloncoin, including how to buy it on Bitrue, and how to store it securely in your crypto wallet. Let's get started!

What is Eloncoin (ELON)?

Eloncoin is a community-driven token built on the Ethereum blockchain, with additional deployments on Polygon, BNB Smart Chain, Solana, and Cronos. 

It combines elements of popular meme coins like Dogecoin and Shiba Inu, but with a unique branding that reflects the influence of Elon Musk. 

This connection to Musk's ventures and his vision for space exploration, particularly Mars colonization, helps create a narrative that attracts enthusiasts from both the crypto and space exploration communities.

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Key Features of Eloncoin:

• Community-Driven: Eloncoin is largely shaped by its community, with little formal oversight or a whitepaper guiding its development.
• Meme Coin: Similar to Dogecoin and Shiba Inu, Eloncoin thrives on social media culture and memes, making it a fun investment for meme lovers.
• Huge Total Supply: The total supply of Eloncoin is capped at 1 quadrillion tokens, with half of the tokens initially locked in a Uniswap liquidity pool and the other half sent to Ethereum co-founder Vitalik Buterin. He burned most of these tokens, further reducing the circulating supply.

While Eloncoin may not have a significant technical roadmap or intrinsic utility, it has become part of the meme coin ecosystem and enjoys a strong following.

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How to Buy Eloncoin on Bitrue

Step-by-Step Guide to Purchasing Eloncoin

If you're looking to buy Eloncoin (also known as Dogelon Mars), Bitrue is a great exchange to start. Bitrue is known for its secure trading platform and offers easy access to a wide range of cryptocurrencies, including Eloncoin. Here's how you can buy it:

1. Create and Verify Your Account
   First, sign up on Bitrue and complete the identity verification process (if required). This ensures a secure trading experience.
2. Deposit Funds
   Deposit USDT (Tether) or any other supported stablecoin into your Bitrue account. USDT is often preferred for trading because of its stability against the US dollar.
3. Navigate to the Trading Section
   Once your funds are deposited, head to the Trade section of Bitrue. Search for the ELON/USDT trading pair to find the Eloncoin market.
4. Place an Order
   Decide how much Eloncoin you want to purchase. You can place either a market order (buy immediately at the best available price) or a limit order (set your preferred price to buy).
5. Confirm and Complete the Purchase
   Review the details of your purchase, confirm, and finalize the transaction. Once confirmed, the ELON tokens will be added to your Bitrue wallet.

Alternatively, you can use Bitrue Alpha, a decentralized exchange (DEX) platform, to buy Eloncoin directly from your wallet. This method allows you to avoid KYC (Know Your Customer) verification.

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How to Add Eloncoin to Your Wallet

Once you’ve purchased Eloncoin, you'll want to store it securely in a compatible crypto wallet. MetaMask and Trust Wallet are both popular choices. Here’s how to add Eloncoin to each wallet:

Adding Eloncoin to MetaMask:

1. Open MetaMask and select the Ethereum network.
2. Click on Add Token and choose Custom Token.
3. Enter the Eloncoin Token contract address : 0x69420e3a3aa9e17dea102bb3a9b3b73dcddb9528.
4. The token symbol and decimals should auto-fill, then click Add Token to complete.

Adding Eloncoin to Trust Wallet:

1. Open Trust Wallet and select the Ethereum network.
2. Tap the + icon to add a new token.
3. Search for Dogelon Mars or enter the contract address manually.
4. Enable the token to add it to your wallet.

Both wallets provide secure storage options for Eloncoin, ensuring your tokens are kept safe.

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Important Considerations When Buying Eloncoin

While Eloncoin has gained popularity, it’s important to consider some key factors before buying:

• Community-Driven Project: Eloncoin is largely shaped by its community, and its development path is often influenced by social media trends rather than a formal roadmap.
• High Token Supply: With 1 quadrillion tokens in circulation, the vast supply could limit the token's ability to experience significant price growth, making it a highly speculative investment.
• Speculative Nature: Like other meme coins, Eloncoin lacks inherent utility and should be viewed with caution. It’s mostly driven by memes and pop culture, rather than technical advancements or use cases.

Eloncoin can be a fun investment if you're into memes and the crypto culture, but it’s important to approach it with care, especially for those new to the crypto space.

Bitrue: A Secure Platform for Trading Eloncoin

If you're looking for a secure platform to buy and trade Eloncoin, Bitrue is an excellent choice. Bitrue offers a user-friendly interface, high security standards, and access to a wide range of cryptocurrencies, including Eloncoin. Whether you are new to crypto or an experienced trader, Bitrue provides a safe and efficient trading experience.

Sign up on Bitrue to start trading securely today!

Conclusion

Eloncoin (ELON), or Dogelon Mars, has emerged as a fun and popular meme coin in the crypto world. Inspired by Elon Musk’s ventures and the broader space exploration culture, this token brings humor and engagement to the cryptocurrency space. 

While its value and market potential are driven more by community and meme culture than by utility, it still remains a popular choice for many crypto enthusiasts.

By following the steps outlined above, you can easily buy and store Eloncoin using platforms like Bitrue, MetaMask, and Trust Wallet. However, keep in mind that Eloncoin is a speculative investment and should be approached with caution.

FAQ

What is Eloncoin?

Eloncoin (also known as Dogelon Mars) is a meme coin inspired by Elon Musk’s ventures, designed to combine space exploration culture with cryptocurrency.

How do I buy Eloncoin on Bitrue?

To buy Eloncoin on Bitrue, sign up, deposit USDT, search for the ELON/USDT pair, place an order, and confirm your purchase.

How do I store Eloncoin?

You can store Eloncoin in MetaMask or Trust Wallet by adding the token using the contract address: 0x69420e3a3aa9e17dea102bb3a9b3b73dcddb9528.

Is Eloncoin a good investment?

While Eloncoin is popular in the meme coin market, it lacks inherent utility and should be viewed as a highly speculative investment.

What is the total supply of Eloncoin?

The total supply of Eloncoin is capped at 1 quadrillion tokens, which significantly affects its price potential.