What would you think if a new cryptocurrency was developed today, and it was clear from the outset that it was meant to be ironic? Most individuals probably wouldn’t even think twice about it. On the other hand, the Internet embraced Dogecoin.
It is still a widely adopted, traded, and supported cryptocurrency today. Almost all exchanges offer it, and several well-known multi-asset wallets support it.
Read on to learn more about this absurd but incredibly successful cryptocurrency’s past, present, and future and how and where to purchase Dogecoin.
Where to Buy Dogecoin
Consider the brokers and exchanges reviewed below for a breakdown of where to purchase Dogecoin online.
Because they all accept payments in USD made with debit/credit cards and bank transfers, the platforms we have discussed for your consideration provide a secure and practical option to invest in DOGE tokens. Additionally, some of the most undervalued cryptocurrencies are available on these top cryptocurrency exchanges, allowing you to diversify your portfolio with little costs and close spreads.
(1) eToro – Overall Best Place to Buy Dogecoin in 2022
When we looked at thousands of cryptocurrency brokers and exchanges online, we discovered that eToro was the greatest option for purchasing Dogecoin and all other top altcoins. The fact that eToro is regulated by the SEC and licenced with FINRA is the most crucial factor in deciding to use them as your primary broker.
You will be happy to know that licencing agencies also govern the broker in Europe and Australia for additional security. eToro offers some of the lowest trading fees in this market, which you will appreciate whether you are a seasoned pro or a total novice.
You won’t pay any transaction fees, for instance, when you use a debit or credit card to deposit US dollars into your account. When compared to services like Coinbase, this costs 3.99% more. This no-fee deposit option is available for ACH, domestic bank wire transfers, and e-wallets like Skrill and PayPal.
Another thing to remember is that you only have to pay the spread when purchasing Dogecoin through eToro. We discovered that the spread at eToro for bitcoin transactions typically starts at just 0.75%. We admire eToro’s cost-effective structure, robust regulatory environment, and market-leading rates.
For instance, you need to risk $10 when purchasing Dogecoin or any other top shitcoin or cryptocurrency, for that matter. This remains the case no matter how much your preferred digital currency is now trading for. As a result, you only need a very modest amount of money to purchase pricey coins like Bitcoin.
The Smart Portfolios tool that eToro offers is another highly regarded service. Simply put, you can fund a diverse collection of tokens by investing in a crypto-related Small Portfolio. The eToro team will manage your Smart Portfolio, which is the best part because it encourages passive investing.
If you prefer to trade on a mobile device, eToro is the best app to buy Dogecoin because it is compatible with iOS and Android.
(2) Crypto.com – Buy Dogecoin in Under 5 Minutes With a Debit Card
When understanding how to purchase Dogecoin, you should take Crypto.com into account. Despite only being established in 2016, this platform is becoming one of the biggest exchanges in the bitcoin trading industry. It now serves millions of clients with various levels of expertise and brings in daily volumes worth billions of dollars.
The ability to form an account, upload identification, make a deposit, and then buy Dogecoin all happen within 5 minutes is one of Crypto.com’s most alluring aspects. Your government-issued ID will be verified immediately because Crypto.com uses automated verification technologies.
Additionally, Crypto.com offers real-time purchases of Dogecoin using debit or credit cards to go along with its quick KYC procedures. Even though the procedure at Crypto.com is straightforward and fast, we should point out that debit and credit card deposits will cost you 2.99%. This costs more than eToro, which does not charge transaction fees for payments made using a US-dollar Visa or MasterCard.
You can diversify across many other marketplaces for digital currencies by using Crypto.com to purchase Dogecoin, which is another fantastic benefit. Crypto.com is home to over 250 unique coins of varying forms, sizes, and market capitalizations. Additionally, Crypto.com provides full-featured savings accounts.
These crypto savings accounts let you earn interest on digital tokens you hold and own on the Crypto.com network. The particular APYs and conditions of the lock-up period will vary depending on several variables. For instance, to receive the most significant yield possible, you must invest a minimum quantity of CRO tokens and store your digital assets for at least three months.
To view the complete list of supported coins, yields, and lock-up conditions for the platform, go to the Crypto.com website. We also appreciate that Crypto.com provides services for digital lending assets. This implies that you can borrow additional digital tokens by depositing a well-known cryptocurrency like Dogecoin, Bitcoin, or Ethereum.
(3) Binance – Buy Dogecoin via a Bank Transfer
Binance is another online broker that enables you to purchase Dogecoin in a couple of minutes. With more than 100 million customers on its books, this cryptocurrency exchange is the biggest platform in this sector.
However, Binance has a platform specifically for US customers that provides access to more than 60 digital currencies. If you want to utilize US dollars, there are two ways to buy DOGE at Binance. The least expensive method is to deposit money through an ACH or domestic bank wire. This is because Binance won’t charge you any transaction fees.
The other choice is to deposit using a debit or credit card. Once your ID has been uploaded, the payment will be processed immediately, although Binance will charge you a 4.5% fee. The total debit/credit card charge will be 5% due to the additional 0.5% quick buy fee.
However, if you have cryptocurrency in a private wallet, you can transfer the money to Binance and then exchange your tokens for Dogecoin at a fee of just 0.10%. It is essential to note that Binance is not subject to any licencing requirements regarding security.
Binance provides a variety of security measures to protect your money to reduce this danger. For instance, two-factor authentication will be necessary when registering an account. On further login attempts, this will be needed.
(4) Coinbase – Easy Place to Safely Buy Dogecoin Online
While bitcoin investors with prior experience tend to utilize Binance, Coinbase targets a different market. In other words, anyone with little to no expertise trading digital currencies like Dogecoin online should use Coinbase.
You will first need to register an account with Coinbase by providing basic individual information before uploading a copy of your government-issued ID. Following verification, you can purchase Dogecoin using US dollars utilizing any of the accepted payment methods. For instance, there are no deposit fees if you want to transfer money using ACH.
What is Dogecoin?
It makes it reasonable that you fully comprehend any investment items you are considering purchasing. After all, you’ll have to put money at risk to profit from a Dogecoin buy.
In light of this, we will now delve a little more into what Dogecoin is to help you decide if it is the perfect digital asset for your portfolio.
Is Dogecoin a Good Investment?
If you have prior experience investing in cryptocurrency, you know the value of researching before investing any money.
Given how fragile digital assets like Dogecoin are, this sentiment is even more crucial.
As a result, we’re going to examine the fundamentals of this project from the standpoint of investing, giving special attention to whether we think Dogecoin is a sound investment or not in this portion of our guide on investing in Dogecoin. In addition to the data presented below, we strongly advise you to undertake your study.
DOGE Price Performance Since 2021
We briefly mentioned that Dogecoin was a sleeping giant between 2013 and 2021. That was until Tesla CEO Elon Musk began to plug the Dogecoin project into his millions of loyal followers.
- At the start of 2021, Dogecoin was priced at just $0.009 per token. By early June of the same year, Dogecoin had skyrocketed to $0.73
- This means that in just seven months, the value of Dogecoin witnessed gains of over 8.000%
DOGE Price Action in 2022
Those invested in Dogecoin at the start of 2022 are approximately break even after a correction followed by a recovery.
- The 2022 yearly open for DOGE was $0.14, and the 2022 high was hit in January – $0.214 on Binance against USDT.
- Dogecoin retraced as low as $0.0491 in June 2022 when Bitcoin crashed to its yearly low of $17,500 and Ethereum to $881
- Heading into November 2022, Dogecoin had retested the yearly open, spiking to $0.151 when Elon Musk’s Tesla engineers moved into Twitter’s head office to ‘dig into the source code
Also Read DogeCoin Price Prediction
Conclusion
This comprehensive beginner’s guide to Dogecoin investing covers every angle. We’ve outlined where to acquire Dogecoin using the top brokers and exchanges and the precise steps needed to complete your transaction with the SEC-approved site eToro.
All eyes are on the DOGE price now that it has risen above the ten-cent threshold, erasing most of its losses in 2022. Elon Musk’s acquisition of Twitter has brought Dogecoin back into the news.
The minimum deposit to start an eToro account is $10, so you can immediately add some Dogecoin tokens to your portfolio. The low-cost broker supports fee-free and immediate debit/credit card payments, so the investment process only takes a few minutes.
