How to Buy Dogecoin (DOGE)?

Dogecoin (DOGE) has become something of a cryptocurrency darling. It joined the top ten cryptocurrencies by market capitalization after a rise in 2021. Many people are interested in buying Dogecoin after seeing the price increase in 2021.

With its amusing canine mascot and endorsements from billionaires like Elon Musk and Mark Cuban, It's easy to see why investors enjoy buying Dogecoin. Since its inception as a satire of Bitcoin in 2013, the cryptocurrency has developed cult appeal, with supporters dubbing themselves the #DogecoinArmy.

In this article, we will first see what is Dogecoin, How to buy Dogecoin, and where to buy Dogecoin?

Dogecoin: Overview

Dogecoin is one of the various cryptocurrencies accessible today. It is peer-to-peer and open-source, like several cryptocurrencies. The Shiba Inu logo on the coin is very distinctive.

Dogecoin was created in 2013 by Jackson Palmer, an Adobe product manager from Sydney, Australia. It was a bit of a joke about all of the excitement surrounding new cryptocurrencies. Palmer began tweeting about Dogecoin and was surprised to receive favourable feedback. IBM developer Billy Markus believed Dogecoin was a cool idea. Markus approached Palmer to see if he could create the software needed to support the coin. As a result, the two collaborated to create Dogecoin.

Dogecoin was first introduced in December 2013. With the excitement produced before the coin even existed, it immediately acquired a community. The free and laid-back concept of a coin based on a popular internet meme contributed significantly to its appeal. Most notably, it developed a sizable and devoted following on Reddit.

In the world of cryptocurrency, the Dogecoin community is regarded to be very peculiar. Things that begin for fun or as a joke frequently create loyal groups, as is prevalent in the world of internet culture. Furthermore, the Dogecoin community is known for banding together for coordinated action, such as supporting individual athletes and sports teams.

Also Read - How Dogecoin Works?

How to Buy Dogecoin?

The process for purchasing Dogecoin is straightforward. If you've ever purchased cryptocurrency, purchasing Dogecoin will be comparable. Despite being available on the majority of the largest cryptocurrency exchanges, Dogecoin is not as widely available as some of the more established coins, and you may need to locate a different exchange or a new wallet to accept it.

If you want to acquire Dogecoin, you should first learn the basics:

• Find a wallet that accepts Dogecoin.

• Search for an exchange that accepts Dogecoin.

• Finish your first Dogecoin transaction and deposit the coins into your wallet.

Finding Dogecoin Wallet

Before purchasing Dogecoin, you must first have a wallet. If you already trade cryptocurrency, your existing wallet may suffice. However, if you are new to cryptocurrency or your current wallet does not handle Dogecoin, you will need to select a cryptocurrency wallet to complete the transactions.

A crypto wallet can be either a software program or a piece of hardware. You may even make paper wallets to store and safeguard your cryptocurrency. Whatever wallet you use, the goal is to store your private keys and facilitate transactions.

Software Wallets

A software wallet will keep your Doge's private key on your device, whether it's a phone, a desktop computer, or a laptop. Because these wallets may be infected with malware, take the required measures and only download legitimate or highly recommended wallets.

You can use a Doge wallet, such as MultiDoge. This wallet is compatible with Windows, Mac, and Linux. You might also use a multi-currency wallet like Exodus or Coinomi. Here is my whole Exodus review, and here is my complete Coinomi review.

Cold Wallets

Cold wallets, also known as hardware wallets, are physical devices that contain your crypto keys. Consider it a flash drive that stores the keys to your cryptocurrency rather than files. A criminal can only steal cryptocurrencies from a cold storage wallet by gaining access to the device as well as your pin number and seed or backup phrase.

Finding Exchanges

A centralized exchange is the most convenient way to buy Dogecoin. Because Dogecoin is one of the more popular cryptocurrencies, you should be able to locate it on most of the major exchanges. As with any cryptocurrency, make sure the platform allows you to access your own digital wallet, so you can transfer and receive Dogecoin. Some brokers may only allow you to purchase and sell Dogecoin in USD.

Dogecoin is available for purchase and sale on the following exchanges:

• Kraken

• Gemini

• eToro

• Coinbase

Dogecoin can also be found on decentralized exchanges, where peer-to-peer transactions can be coordinated. While decentralized exchanges are frequently less expensive to operate, they also demand a bit more technical know-how and should only be utilized by investors with some experience in the crypto realm.

Buying Dogecoin Payment Methods 

In general, there are two methods for Buying Dogecoin:

For investors who want to buy Dogecoin directly, exchanges will often accept fiat currencies such as the US dollar. To make a purchase, you must first open an account with the exchange of your choice and fund that account with funds from a bank account.

If you currently have cryptocurrency, you may be able to exchange some of your existing digital assets for Dogecoin. However, not all cryptocurrencies can be exchanged for Dogecoin, and each platform may have various restrictions. Before you place a deal, ensure sure the platform you're using permits you to match Dogecoin with another cryptocurrency.

How to Buy Dogecoin on Binance

Binance is one of the largest crypto exchange platforms in the world. Binance serves more than 5000 cryptos and related pairs. Below are some common steps for buying dogecoin from Binance:

1. Register for an account on Binance
2. Verify your account by providing the required personal information and completing the KYC process
3. Deposit funds into your Binance account using a supported payment method such as bank transfer, credit card, or cryptocurrency
4. Navigate to the exchange section of Binance and find the Dogecoin trading pair (e.g. DOGE/BTC)
5. Place a buy order for Dogecoin using the funds in your Binance account
6. The Dogecoin will be added to your Binance wallet once the transaction is complete

How to Buy Dogecoin on Trust Wallet

You can purchase Dogecoin (DOGE) from $50 to $20,000 using a credit or debit card immediately from the mobile app or Using your Trust Wallet. Below are the step-wise points to buy dogecoin from Trust Wallet.

1. Download the Trust Wallet app from the App Store or Google Play Store
2. Create a new wallet or import an existing one
3. Connect to a decentralized exchange such as Binance Smart Chain or Uniswap using the built-in DApp browser
4. Find the Dogecoin trading pair (e.g. DOGE/BEP20) and place a buy order for Dogecoin
5. The Dogecoin will be added to your Trust Wallet once the transaction is complete.

How to Buy Dogecoin on eToro

eToro is a social trading and multi-asset investing company based in Israel that specializes in financial and copy trading services. We've broken the procedure down into a few simple stages to help you buy Dogecoin as quickly as possible:

1. Register for an account on eToro
2. Verify your account by providing the required personal information and completing the KYC process
3. Deposit funds into your eToro account using a supported payment method such as bank transfer, credit card, or cryptocurrency
4. Navigate to the Crypto section and select Dogecoin
5. Place a buy order for Dogecoin using the funds in your eToro account
6. The Dogecoin will be added to your eToro wallet once the transaction is complete

How to Buy Dogecoin on Coinbase

1. Download the Trust Wallet app from the App Store or Google Play Store
2. Create a new wallet or import an existing one
3. Connect to a decentralized exchange such as Binance Smart Chain or Uniswap using the built-in DApp browser
4. Find the Dogecoin trading pair (e.g. DOGE/BEP20) and place a buy order for Dogecoin
5. The Dogecoin will be added to your Trust Wallet once the transaction is complete.

Conclusion

Investing in Dogecoin may be appropriate for some people, but it may not be appropriate for others. There is danger, as with any form of investing. Cryptocurrency prices can fluctuate dramatically in a matter of seconds. If you've been following market news, you've probably heard of folks who became billionaires in a matter of days and others who lost large sums of money just as quickly.

Overall, Dogecoin might be considered an investment because it has been there for a while, it has a dedicated community, and its price has risen over time.

Dogecoin FAQs

Is buying Dogecoin good for beginners?

Investing in Dogecoin may be appropriate for some people, but it may not be appropriate for others. There is danger, as with any form of investing. Cryptocurrency prices can fluctuate dramatically in a matter of seconds.

Is Dogecoin low-risk?

DOGE can still deliver good returns, but it's not the best crypto asset for risk-averse investors. Crypto assets are an unregulated, extremely volatile investment commodity.

Is it profitable to buy Dogecoin?

Is Dogecoin a wise investment all around? Even after the significant price increases in recent years, supporters of Dogecoin consider that it is still one of the most undervalued cryptocurrencies. From a fundamental point of view, it is challenging to argue that DOGE will produce returns comparable to those of 2021.

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