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Home » Buy Cryptocurrency » How To Buy Dogecoin (DOGE)
Dogecoin is a world-famous cryptocurrency that curiously started life as a meme. The coin was inspired by a Shiba Inu dog named Doge. This dog was, and continues to be, a very popular mascot for online memes. However, what was originally created to explore the possibilities of cryptocurrencies in their early years eventually transformed into something much greater.
A widespread misconception around Dogecoin is that it was created as a joke. In reality, DOGE came to life to give its creators an opportunity to personalise and customise blockchain technology. By 2014, Dogecoin became a famous cryptocurrency, and fame helped to propel its value.
Dogecoin is mainly used to pay online freelancers, such as content creators. It is also the base currency for various crowdfunding campaigns. It owes most of its success to the energetic community that supports it and uses it over its competitors. However, part of its fame comes as a result of influential individuals, including Elon Musk, who hinted that it could eventually replace Bitcoin.
Even though such a seismic transition seems unlikely, at least for now, Dogecoin continues to have a purpose and practical use. Since thousands of people pay with Dogecoin to buy online goods or services, or to play at Dogecoin casinos, the coin retains and grows its value. This makes it an attractive investment for traders, and this has led to the creation of Dogecoin CFDs.
You can invest in Dogecoin CFDs on the following platforms:
In the last couple of years, DOGE grew its popularity immensely. Comments by influential entrepreneurs have made it a so-called, mainstream coin. This means that you can buy it easily at a number of cryptocurrency exchanges and online brokers.
If you wish to start buying Dogecoin but don’t know where to begin, the following steps should help you:
Choosing certain payment methods, such as bank transfers, may be a cheaper option. However, transaction times may be longer. This means that you won’t be able to buy DOGE instantly with a bank transfer, and will have to wait until your funds reach the broker or exchange.
Most people who buy Dogecoin do it for one of two reasons. Users can use Dogecoin to pay for goods and services online. With DOGE, transfers are very quick and do not cost much. Other users, meanwhile, invest in Dogecoin in order to sell it at a later date for a profit. DOGE trading is extremely popular since the coin is particularly volatile.
Before you choose which cryptocurrency exchange to use, you need to consider which payment method you’ve got at your disposal. Different brokers and platforms accept different methods, so it might not always be possible for you to use cards or eWallets.
If you wish to buy a small amount of Dogecoin and want to use a specific payment method, you may want to consider P2P platforms. These websites are designed to put you in direct contact with Dogecoin sellers and allow you to negotiate directly with them. As a result, you can discuss the price and method of payment with complete liberty.
When you use a debit or credit card, such as Visa or Mastercard, to buy Dogecoin, you can get hold of your cryptocurrency instantly. In fact, there are several other benefits to using cards to buy DOGE online. This method is extremely safe and gives you the opportunity to raise a chargeback claim in case of fraud.
When you buy Dogecoin with a debit card, you can pay using your base currency. It doesn’t matter which fiat currency is accepted by the online platform since your card issuer will be able to convert your currency automatically.
If you choose to pay for DOGE with a credit card, you should keep an eye out for additional charges charged by the exchange.
To start buying Dogecoin with a debit or credit card, you can use one of the following platforms:
PayPal is one of the world’s best-known eWallets, providing a fast and secure way to pay online. It is accepted by millions of stores and businesses around the world, however, unfortunately, it is rarely accepted by reputable exchanges.
The reason for this is simple – PayPal can be expensive for merchants.
If you’re looking to buy DOGE with PayPal, you’ve got two options. The first involves you finding a seller on a P2P platform who is willing to accept PayPal. Alternatively, you can trade Dogecoin with PayPal using a reliable platform for trading Contracts for Difference (CFDs).
CFD trading platforms, such as eToro, give you access to a vast selection of cryptocurrency derivatives, including DOGE. You can buy and sell these using a number of convenient payment methods, including PayPal.
Here are some of the best CFD trading platforms that allow you to buy DOGE with PayPal:
When you think of cryptocurrencies and the future of payments, you don’t normally think of bank transfers. Known to be slow and inconvenient, they are not a favourite amongst crypto users. However, since exchanges and brokers do not need to pay high fees to support bank transfers, they are widely accepted.
Be warned, however, that buying Dogecoin with a bank transfer can be slow. Whilst SEPA payments might only take up to three working days to arrive, SWIFT transfers can take up to 10.
Some of the most reliable cryptocurrency exchanges and DOGE CFD trading platforms that accept bank transfers include:
Most of the exchanges and online brokers we’ve mentioned so far require you to register an account before you start using their services. If you’re looking to buy Dogecoin anonymously, your options are fairly limited.
Changelly is an online exchange that lets you buy DOGE without needing to create an account. Instead, you can trade Dogecoin whilst only providing basic details. No identification documents or verification is required.
Alternatively, you could use a P2P trading platform to buy DOGE anonymously. Even if you need to register an account on the platform, your details should not be shared with the seller without your consent. However, buying cryptocurrency in this manner carries certain risks, including the possibility of being scammed.
You can buy Dogecoin online at various cryptocurrency exchanges and brokers. These provide you with a fast and secure way to buy DOGE without having to meet anyone in person.
Some of the best-known and top-rated exchanges that support Dogecoin are:
We highly recommend that you use one of the exchanges or brokers listed in this guide when buying Dogecoin or DOGE CFDs. These platforms are trustworthy, and, in some cases, have operating licenses issued by competent jurisdictions. By using these platforms, you are much less likely to be scammed or cheated.
If you wish to buy Dogecoin with cash or cheques, the best option is to use a P2P trading platform. When browsing through such a website, you will be able to filter Dogecoin sellers by their accepted payment methods.
Be warned, however, that buying DOGE with cash carries certain risks. Ensure that your cryptocurrency has been deposited in your wallet before paying the seller. Unlike cards or other payment methods, you cannot claim a chargeback with cash in case of fraud.
Buying Dogecoin with USD, EUR, or another mainstream fiat currency is a popular way to get hold of the cryptocurrency. Another way is to trade one cryptocurrency, such as Ethereum, for DOGE.
Binance is considered to be one of the best platforms to trade Dogecoin. Since it supports over 1,000 coins and tokens, you are almost definitely going to find a way to convert your existing crypto to DOGE. Moreover, Binance has some of the lowest trading fees on the Internet and is amongst the safest platforms available.
Here are other reputable platforms that allow you to trade Dogecoin:
You can buy, sell, and trade Dogecoin in most countries. However, DOGE is forbidden in countries or regions where cryptocurrencies are outlawed. Due to such laws, most reputable exchanges will not allow users who live in certain countries from opening an account with them.
If you live in the United States, for example, you will not be allowed to register an account with BitMEX or ChangeNOW. Furthermore, since CFD trading is banned in the US, platforms such as XTB and Plus500 are also forbidden.
If you intend to buy or trade Dogecoin in order to sell it at a later date for a profit, you may wish to consider a more convenient instrument. DOGE CFDs let you invest in Dogecoin without needing to buy the coin. Instead, you simply purchase a contract whose value fluctuates based on the volatility of the underlying asset.
You can trade Dogecoin CFDs at a number of top-tier platforms. These include:
When trading DOGE CFDs you need to be aware of the risks. This advanced financial instrument allows you to trade on margin or with leverage. In this way, you can significantly increase potential profits. However, if the asset does not behave as you’ve predicted, you may experience equally significant losses. You should only trade Dogecoin CFDs if you understand the risks and can afford potential losses.
Dogecoin is a popular cryptocurrency and is supported by a variety of hot and cold wallets. If you’re looking for a cost-effective way to store DOGE securely, we recommend Trezor or the Ledger Nano S. Free hot wallets that let you store Dogecoin include Trust and Guarda.
Storing cryptocurrency to use in high-frequency trading can become a headache. This is why DOGE CFD trading is so popular. Instead of owning the coin, CFDs let you profit from the coin’s price volatility without needing to worry about safely storing your assets. Furthermore, CFD trading is normally faster and cheaper than buying and selling Dogecoin.