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How to Buy Dogecoin

This guide will provide you with a detailed guide on how to buy Dogecoin in 2024. We tell you where to buy the all-popular meme coins, look at the pros and cons of investing in Dogecoin, and provide you with a step-by-step guide to buying DOGE from one of the most popular crypto exchanges.

We will also provide a brief history of Dogecoin’s past price action, talk about the best Dogecoin wallets, and how to sell the dog-themed joke currency.

How to Buy Dogecoin – Quick Steps

Looking to get straight to buying Dogecoin? Follow this a quick 4-step guide on how to buy Dogecoin on the all-popular eToro crypto exchange.

  • Step 1 – Create a crypto trader account – Start by creating an eToro trader account via their official website or mobile trading app. The process Is easy and straightforward, and the exchange will only ask for basic personal information. Note that it also involves verifying your identity by submitting a copy of your government-issued identity document.
  • Step 2 – Fund your account – You will then need to deposit the cash needed to buy crypto into this account. The minimum deposit limit starts from $10 (depending on the country of residence), and popular supported deposit methods include PayPal, credit cards, debit cards, e-wallets, and bank wire transfers.
  • Step 3 – Search for Dogecoin asset – In the search box, enter ‘Dogecoin or DOGE’ and click on the ‘Trade’ button to process to the final step of buying DOGE.
  • Step 4  Buy Dogecoin – Enter the total amount that you would like to invest in Dogecoin and click on ‘Open Trade’.  Once you confirm your order, eToro will debit your deposit cash balance and add your newly purchased Dogecoin tokens to your portfolio.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

The quick-fire guide below showed you how to buy Dogecoin in the US right now. If you need a more detailed explanation of how to invest in Dogecoin with eToro – you’ll find more detailed step-by-step guide further down.

Where to Buy Dogecoin Best Exchanges

Over the past few years, hundreds of crypto trading platforms have sprouted – with many of these going ahead to list Dogecoin and offer multiple DOGE trading pairs.

While this presents you with a healthy number of crypto marketplace options, finding the best crypto exchange to buy Dogecoin could also be overwhelming – especially for novice and intermediary investors.

To help you get started, our analysts have reviewed tens of the most popular and most reputable altcoin exchanges. They eventually settled on the following as the best places to buy Dogecoin today. Here is a brief overview of what makes them the top Dogecoin exchanges.

1. eToro – Overall Best Place to Buy Dogecoin (DOGE) in 2024

For a decade now, eToro has been offering crypto investing services on its platform. Throughout this period, it has extended its support for all of the best crypto and popular digital currencies – including Dogecoin.

eToro is a popular trading platform that was launched in 2007 and now serves over 25 million clients. You can buy Dogecoin with eToro with low fees and you can then store your DOGE coins in the eToro money crypto wallet.

eToro has also maintained a relatively high uptime and proved its ability to keep client funds by being one of the few crypto exchanges that have never been hacked. Further, eToro has maintained one of the user-friendly and highly navigable crypto trading interfaces that appeal to both beginner and pro investors.

But these aren’t the only reasons making eToro one of the best places to buy Dogecoin today. We also like its transparency and affordability when it comes to account minimums and trading fees.

Buy Dogecoin via eToro

At the time of writing, for example, you only need $10 to start buying Dogecoin on eToro. The exchange doesn’t charge a commission, and you will only have to part with a fixed transaction fee of 1% of the Dogecoin trade amount.

We also liked the fact that eToro provides all its platform users with ultra-secure custody services. Upon creating a crypto investor account with the exchange, you will automatically be given a free exchange-based crypto wallet that holds 90%+ of your digital assets offline.

You will also be provided with a free and equally secure mobile crypto app and wallet that encrypts and stores the private keys for your crypto assets on the root storage of your mobile device.

Buy Dogecoin etoro

Lastly, we liked that eToro makes it possible for its platform users to earn passively through its copy and copy portfolio tools. Note, however, that you need a minimum account balance of $200 to start copy investing on the platform.

All those points have made eToro a great option when thinking about where to buy Dogecoin with fiat money. Once you have made a deposit, you can then buy cryptocurrency. But it’s not just limited to cryptocurrencies, eToro also allows users to invest in stocks, trade currencies and invest in best crypto ETFs on the market.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Binance – Best Dogecoin Exchange for Low Fees and Deep Liquidity

Binance launched in July 2017 and went on to become the most popular as well as the most liquid crypto exchange in the world within the first six months of operation. It has held on to this position ever since, and this can be attributed to a host of factors. When it comes to buying Dogecoin , Binance supports debit/credit card deposits. You will be charged a pricey fee at 4.5% of the transaction amount.

First is its affordability – with crypto trading fees on the platform ranging between 0.1% and 0.02%. The second has to be its deep liquidity and reliability, which means that even the largest Dogecoin buy/sell orders will be fulfilled without delay.

Buy Dogecoin on Binance exchange

Binance also lists among the best crypto exchanges because of the many Dogecoin buying options it provides its users.

These include the instant buy feature, the free ‘Convert’ feature, and its open marketplace. And if you wish to buy Dogecoin with fiat, you have the option of using a third-party medium like Moonpay or Simplex or simply buying it via the Binance peer-2-peer trading platform.

The exchange then provides Dogecoin investors with multiple passive income-generating programs. These include Binance Save, liquidity farming, Auto investing, Dual investing, and staking. In addition to these, Binance is committed to keeping its clients’ assets safe.

Like all popular exchanges, it stores more than 90% of client cryptocurrencies offline. But unlike most other exchanges, it has established a $1 Billion insurance program (SAFU) to be used in compensating its clients should they ever lose their crypto on the platform to hackers or other breaches.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Coinbase – Good Place to Buy Dogecoin as a Beginner 

If you’re wondering where to buy Dogecoin in the easiest way possible, Coinbase is beginner-friendly platform and one of the best crypto exchanges in the US. Established in 2012, Coinbase is one of the oldest and most reputable crypto exchanges around. It, however, makes it to our list of the best Dogecoin exchanges primarily because of its beginner-friendliness.

This is evidenced first by its quick and straightforward account opening process. This then extends to its highly navigable and easy-to-use trading interface and multiple Dogecoin investing options – including the instant buy feature.

Buy Dogecoin on Coinbase

Further, you only need $2 to start buying Dogecoin on Coinbase. And this deposit can be made using a host of popular fiat payment options, including credit cards, debit cards, bank transfers, and eWallets like PayPal.

Coinbase also has a comprehensive range of educational resources – including the Learn-to-Earn program that rewards individuals with free crypto when they learn about different crypto/blockchain subjects.

In addition to its beginner friendliness, Coinbase features on the list of best Dogecoin exchanges because of its deep liquidity and support for a wide range of digital assets. This means that even large Dogecoin buy/sell orders get filled fast, and you also get to interact with a decent range of DOGE trading pairs.

Like most other popular crypto exchanges, Coinbase is committed to the safety of client assets. For starters, it provides all its platform users with an exchange-based wallet to store your Dogecoin tokens that holds 98% of their crypto in ultra-secure offline vaults while insuring the remaining 2%. You will also have access to a free mobile wallet app.

Additionally, Coinbase supports a wide range of digital assets which means you can buy Bitcoin, Shiba Inu and other popular best altcoins from your smartphone device.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Crypto.com – Best Crypto Exchange for Passive Investing

The final platform to consider when thinking about where to buy Dogecoin is Crypto.com. This online crypto exchange has been one of the fastest-growing exchanges in the last few years. It has significantly grown its ecosystem and expanded the number of supported cryptocurrencies – which have gone a long way in growing market cap.

Buy Dogecoin via Crypto.com

But it makes it here primarily because it provides its platform users with multiple passive income-generating opportunities. These include crypto staking with rewards up to 12.5% p.a.

We also liked Crypto.com’s user-friendliness and appeal to both beginner and pro crypto investors. Like all the popular crypto exchanges, it, too, maintains a quick and straightforward account opening process.

You are then ushered into a highly navigable and easy-to-use trading platform that features a range of educational resources to help novice investors. It also integrates a wide range of advanced trading, risk management, and analysis tools needed by expert crypto traders.

In addition to buying Dogecoin on Crypto.com, you will have access to 200+ more cryptocurrencies and hundreds of both fiat-to-crypto and crypto-to-crypto trading pairs.

The exchange also maintains highly competitive DOGE buying fees – ranging between 0.075% and 0%. And if you have staked more than 50,000 CRO tokens – you don’t pay maker fees and get to enjoy a 12% discount on taker fees – bringing the cost of trade to between 0.066% and 0.044%.

Other factors that help Crypto.com stand out among the best places to buy Dogecoin include the fact that it provides users with a free exchange-based wallet and a mobile wallet app. It is also committed to the safety of user funds and data.

It doesn’t share sensitive client information with third parties and publicly shares its proof of reserve audit report.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

What is Dogecoin (DOGE)?

Dogecoin is the most valuable and one of the most popular meme currencies. It was created and launched in 2013 as a joke and was meant to poke fun at the wild cryptocurrency speculations taking place within the programming communities at the time.

Its logo features a popular meme (at the time) of a Shiba Inu dog.

The meme currency only started gaining fame and worldwide recognition during the meme coin frenzy of late 2020 to early 2021. This saw Dogecoin’s value and online community grow tremendously.

This growth was further fueled by the adoption of the meme coin by renowned entrepreneur – Elon Musk. It sent DOGE’s price to an all-time high and grew its online following by more than 5 million – across multiple social media platforms.

Dogecoin’s (DOGE) Historic Price Performance

According to CoinMarketCap, Dogecoin’s earliest market price – in mid-2014 – was $0.0002. The altcoin traded around this price throughout 2015 to early 2017. During this time, its daily trade volumes rarely broke above $100,000.

During the 2017 crypto bull run, however, Dogecoin mimicked the crypto market’s fast uptrend. It rallied more than 5000% above its 2014 prices to reach $0.015.

In obedience to changing market trends, Dogecoin’s value started to drop as soon as bears started dominating the market in 2018. The crypto community was, however, already drawn to Dogecoin’s lucrativeness.

This went a long way in cautioning it from a free fall, seeing that between 2018 and early 2020, DOGE traded for between $0.0019 and $0.004. Its daily trade volumes also shot to between $2 Million and $200 Million.

Dogecoin hopped into 2021, selling for $0.004. By the end of January that year, however, the meme currency had rallied by more than 1000% to reach $0.04.

This was followed by three more months of its most aggressive gains yet – which culminated with the setting of the current all-time high price of $0.74 on 8th May 2021. This means that if you had invested in Dogecoin in early 2014 and HODLed, you would have grown this capital by more than 350000%.

The meme coin’s price started correcting in the latter half of 2021 before being crushed by the bear market that ruled 2022. Throughout the first half of 2023, the top joke currency’s price has been ranging between $0.09 and $0.06.

Is Dogecoin (DOGE) a Good Investment?

dogecoin a good investment

When it comes to crypto, there is usually no guarantee that an asset with a history of stellar performance will keep replicating this performance.

When deciding if a Dogecoin – or any other crypto – is a good investment for you, you will want to consider a number of factors – such as your risk tolerance, experience in crypto investing, and investing goals.

Dogecoin is often widely considered to be the best meme cryptocurrency to invest in. However, If you’re wondering whether to buy Dogecoin right now – your investment decision should be based on deep independent research.

An important thing to consider is that Dogecoin, or any other crypto asset, is extremely volatile, so you are likely to experience rapid pricing swings. On that note, if you have a high risk tolerance then you might be interested in copay top Dogecoin Traders via eToro Copy Trade.

You will also want to weigh the pros of investing in Dogecoin against possible drawbacks when making this decision. To help you get started, we look at the key benefits and demerits of investing in the top meme coin.

Benefits of Investing in Dogecoin (DOGE) Today

Before you learn the ropes of how to buy Dogecoin, you should consider whether or not this meme asset class is right for your portfolio goals.

In the sections below, we discuss top key reasons why so many investors in the world are looking to gain exposure to Dogecoin.

Highly attractive ROI

Throughout its history, Dogecoin has proved to be a highly lucrative digital asset. Moving forward, as crypto investing goes mainstream, we expect DOGE token prices to sustain its current uptrend. This would translate to unimaginable gains for DOGE investors.

Volatility makes it good for active trading

There is an upside to investing in one of the most volatile cryptocurrencies, especially if you are an active day trader. It means that you get to constantly profit from Dogecoin’s price action – both the uptrend and downtrend.

Use for payments

Owing to Dogecoin’s massive popularity, it has been adopted as a payment method by different brands and enterprises. Today, you can use DOGE to pay for goods and services online, pay for tickets to events and festivals, and or settle payments among friends, family, and acquaintances.

Diversification

You may also consider buying Dogecoin if you are looking to diversify your investment portfolio by including cryptocurrencies.

Buy the Dip

Perhaps the best way to buy Dogecoin is when the overall cryptocurrency market goes through a dip. This happens when the price of top crypto market caps go through a downward trend.

Although this often cause stress and panic to inexperienced investors away, buying the dip will allow you to buy DOGE coins and enter the market at a discount.

For example, we mentioned above that Dogecoin hit $0.75 in 2021. However, in 2023, the digital token has hit lows of $0.05. This is a decrease of around 80% from all-time highs.

There are plenty of opportunities to buy the dip in the crypto marketplace, as Dogecoin and other popular cryptocurrencies regularly go through volatile pricing swings.

Earn Interest

Top crypto platforms now offer crypto accounts for a wide variety of coins and tokens, including Dogecoin, allowing you to earn passively from your cryptos. If you’re looking for the best Dogecoin interest account, all those above exchanges offer a variable interest rate on DOGE deposits.

Risks of Investing in Dogecoin (DOGE) Today

Here, we look at some of the reasons why you may not want to invest in Dogecoin.

Highly volatile

Even though it is currently one of the 10 most valued cryptocurrencies, Dogecoin remains one of the most volatile digital assets. This means its value may slip sharply over a short period of time, effectively exposing you to serious losses.

Over-Reliance on hype

Dogecoin – unlike popular cryptocurrencies like Bitcoin and Ethereum, whose value is derived largely from their use cases – is overly reliant on hype. This means that it is not a good long-term investment.

How to Use Dogecoin (DOGE) in 2024?

As Dogecoin’s popularity grew, so did its adoption and use cases. Today, the meme coin has acquired multiple use cases, and at the time of writing, we found these to be some of DOGE’s most common use cases:

Investment

You may want to view Dogecoin as an investment instrument. While it does have the qualities of a good long-term investment – like Bitcoin or Ethereum – the meme coins have proved their resilience and sustainability. This, and its lucrativeness, make it a good short to medium investment.

Pay for goods and services

You may also consider buying Dogecoin to use in settling payments. Today, a growing number of online businesses and enterprises accept DOGE payments. A growing number of individuals will also accept Dogecoin payments.

Active trading

You may also consider active trading the meme currency. We have already mentioned that while its untamed volatility makes it a bad long-term investment, it makes a viable trading instrument as you get to monetize both its up-trending and down-trending price action.

Save/Liquidity Farming

Leading crypto exchanges and trading platforms have introduced several crypto earn programs that feature Dogecoin. These passive investment programs include crypto saving, liquidity mining, and dual investing.

The return on investment for most of these programs is higher than the rates provided by some conventional investing programs.

Methods of Buying Dogecoin

Once you have researched Dogecoin from top to bottom and made the decision to proceed with an investment, you then need to think about which payment method to opt for.

Today, the majority of crypto exchanges and trading platforms have oversimplified the Dogecoin buying process. They have introduced multiple ways of investing in the leading meme currency.

Below, we are going to discuss the best ways to buy Dogecoin in the US and the UK.

Buy Dogecoin With Credit Card or Debit Card

Credit cards and debit cards are one of the most popular online payment options. Today, they have been embraced as a crypto purchase option by virtually all the popular crypto exchanges.

Some of the factors that make credit card and debit cards a top choice for Dogecoin investors include the fact that card transactions are processed instantaneously, they charge relatively low fees, are convenient, and have relatively high daily transaction minimums.

 Buy Dogecoin with PayPal

Buy crypto via PayPal

A growing number of crypto exchanges and trading platforms will also let you buy Dogecoin with PayPal. Like cards, PayPal is also a good option when buying crypto because of its ultra-fast transaction processing speeds, low cash transfer costs, and decent transaction minimums.

You can buy Dogecoin with PayPal directly on some of the best crypto trading platforms or indirectly via third-party fiat-to-crypto onramps or associated Peer-to-peer trading platforms.

Buy Dogecoin with Bank Wire Transfer

Virtually all the leading crypto exchanges and trading platforms will let you buy Dogecoin with a bank transfer. There, nevertheless, are two downsides of buying crypto using bank deposits. First, banks charge a relatively high cash transfer fee. Secondly, the process is rather bureaucratic, and it may take days before the deposit reflects in your crypto trading account.

The upsides to using bank deposits when investing in Dogecoin, however, include the fact that most exchanges do not have a maximum deposit limit for bank transfers. Secondly, it is one of the most accessible payment options.

Buy Dogecoin (DOGE) with eWallets like Skrill and Neteller

A number of leading crypto trading platforms will also let you buy Dogecoin with eWallets like Skrill, Neteller, Google Pay, Apple Pay and more. You can invest in DOGE using these payment options directly, via third-party onramps, or through their p2p trading platforms.

On the Binance p2p trading platform, for example, you can buy Dogecoin and other leading cryptos using 700+ payment options – the majority of whom are eWallets.

Cryptoassets are a highly volatile unregulated investment product

What is the Best Dogecoin Wallet?

eToro Wallet

There are two broad classifications of cryptocurrency wallets – hot wallets and cold wallets. Hot wallets, in this case, refer to wallets that store the private keys for your crypto online or on internet-enabled devices.

These aren’t safe and expose you to the threat of hacks or malware attacks. Cold wallets, on the other hand, refer to wallets that hold your private keys in ultra-secure offline devices.

Most exchanges will provide you with a free hot wallet in the name of an exchange-based wallet as well as a free mobile wallet app. And while most claim to hold 90%+ of your coins in offline vaults, we advise our readers to avoid holding their coins in exchange-based or third-party hot wallets.

We encourage you to invest in a reliable, safe, and highly reputable hardware wallet where you can hold Dogecoin private keys.

When to Buy Dogecoin (DOGE)?

The best time to invest in Dogecoin or any other cryptocurrency is after a price crash while it sells at a heavily discounted price. This investing strategy of waiting for a crypto’s price to crash before investing is often referred to as timing the dip.

However, its effectiveness has been constantly questioned since the volatility of Dogecoin and the unpredictable nature of the crypto market makes it impossible for anyone to determine when a coin’s price has hit the floor.

In place of timing the dip, we encourage you to use the Dollar Cost Averaging (DCA) investing strategy. This involves buying small quantities of Dogecoin regularly.

For example, you may opt to decide to buy $100 worth of Dogecoin every month, week, or on a bi-weekly basis. In fact, a lot of popular crypto exchanges have embraced this investing strategy and even integrate tools to help you automate your investments.

How to Buy Dogecoin (DOGE) on eToro – Step-By-Step Guide

Now that you know what Dogecoin is as well as the benefits and drawbacks of investing in meme currency, we now need to look at the crypto-buying process. Here, we will teach you how to buy Dogecoin from the all-popular eToro crypto exchange.

Step 1: Create a Dogecoin investor account on eToro

Open Dogecoin account

On your browser, open the official eToro website or simply download the eToro mobile trader app. Hit the ‘Jon Now’ button and complete the user registration form that pops up. This only seeks to capture your basic personal information.

Step 2: Verify your identity

Given that eToro is a regulated crypto exchange, it is required to subject all its clients to KYC/AML checks. Achieve this by submitting a copy of your government-issued identification document, such as a passport or driver’s license.

Step 3: Fund the account

Deposit funds

After the account is approved, log in and hit the ‘Deposit Funds’ tab. From the funding tab that pops up, choose one of the supported deposit methods and follow the prompts to deposit at least $10 in this account.

Step 4: Search for Dogecoin

Search for Dogecoin

Once the deposit reflects in your trader’s account, hit the ‘Discover’ icon on your user dashboard. Then from the list of supported trading instruments, choose ‘Cryptos.’

Step 5: Buy Dogecoin

Buy DODE

From the list of supported cryptocurrencies, choose Dogecoin and hit the ‘Buy’ option. A trading tab will pop up. Use it to customize the trade by indicating how many DOGE coins you intend to buy or how much you wish to invest in the digital asset. Hit ‘Open Trade’ to execute this trade.

Note: The crypto you just put based will be deposited into the exchange-provided custody account. To transfer them to a third-party wallet or exchange, you will first need to move them to the eToro mobile wallet app.

Cryptoassets are a highly volatile unregulated investment product

How to Sell Dogecoin

Selling dogecoin is easy. You first need to log back into the crypto trader account. If you had transferred the DOGE out to third-party storage, move the coins back to the exchange-provided wallet.

There are two options for selling Dogecoin on most exchanges. First, some exchanges will let you use the instant sell/convert feature that allows you to convert your Dogecoin to fiat or another cryptocurrency instantly and at the prevailing market price.

Alternatively, you may choose to open a sell order on the exchange’s marketplace. The upside to this is that it lets you decide the price at which you wish to sell the altcoin and not necessarily the prevailing market price.

Once the transaction is complete, you can easily withdraw the fiat or any other cryptocurrency to your preferred fiat or digital currency wallet.

Conclusion – How to Buy Dogecoin Today

In this how to buy Dogecoin guide, we have explained what Dogecoin is and where to buy Dogecoin. We also provided you with a brief overview of the best places to buy Dogecoin or any other populary digital assets and told you about the most popular ways of buying Dogecoin today.

We have also touched on the best time to invest in Dogecoin and how to store your DOGE private keys and discussed whether it is a good investment by looking at the benefits and demerits of buying the top meme coin.

Want to jump straight to buying Dogecoin today? For the step-by-step guide to buying crypto that we have outlined above. You can buy your first DOGE token on eToro with just $10 deposit funds into your account.

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Cryptoassets are a highly volatile unregulated investment product.

Author Checked Reviewed and Fact Checked by Joshua Downes, Fintech, Blockchain Writer and Investment Analyst.

FAQs on Buying Dogecoin

How do I buy Dogecoin?

It is simple, start by creating a crypto investor account on eToro. Fund this account by depositing at least $10. Choose to trade cryptos and hit the 'BUY' option against Dogecoin from the list of supported cryptocurrencies.

Yes, Dogecoin has proved to be a good and reliable crypto investment through its resilience and obedience to crypto market trends. Dogecoin has also maintained an overall uptrending price action while enjoying a massive following by the online crypto community. All these are expected to continue driving up its value, which makes it a good investment.

Dogecoin is currently listed with virtually all the most popular exchanges and crypto trading platforms. You can buy it on such popular exchanges as eToro, Coinbase, Crypto.com, and even Binance.

Forecasters, crypto investors, and analysts are optimistic that the Dogecoin price will eventually break parity with the dollar. The majority are confident it will teach this price level during the next bill market, while a few can only see it getting here at the turn of the decade.

No one can tell with utmost accuracy whether the Dogecoin price will rebound before the end of the year. This is because the Dogecoin crypto asset is massively volatile and dependent on investor hype and also because the larger crypto market is wildly unpredictable, and no one can tell the direction it will assume over the next few months.

The minimum required to invest in Dogecoin will largely depend on such factors as your risk tolerance, investing goal, and disposable income. It will also depend on the deposit and trading minimums set by your preferred crypto exchange - though most will let you buy Dogecoin with as little as $1.

If you’re looking for a fully regulated exchange that allows you to buy Dogecoin with no deposit fees then eToro is overall the best place to buy crypto assets. The minimum investment requirement to buy Dogecoin is just $10.

The best place to buy Dogecoin is through a low-cost broker or exchange. eToro, for example, allows you to deposit fiat currencies fee-free. After you’ve made the deposit, you can then buy Dogecoin on a spread-only basis – which starts from just 0.75%.

eToro broker, allows you to buy Dogecoin with Paypal fee-free if you’re based in the US.