How To Buy Dogecoin – The Ultimate Guide To Buy DOGE
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. It would help if you considered whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Buy Dogecoin Now
Editor’s Pick: Best Platforms to Buy Dogecoin
? Social Trading Platform
✅ Zero Commissions
?? US Clients Allowed
? Different Trading Pairs
⭐️ Crypto Staking
✅ Great Support
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company
2022 Guide on How to Buy Dogecoin
Over the years, the price of Dogecoin in US dollars has remained relatively stable. However, in reality, Dogecoin is one of the space’s biggest success stories, having risen from a price of ten-thousandths of a penny to around sixty-three cents to its highest in the last five years in May 2021. That marks a 1,4218% increase to its highest price! Since then, many of our readers have been asking if they should buy Dogecoin and include it into their investment portfolio?
Compared to other long-standing cryptos, Dogecoin has proven to be more resilient in times of market volatility, making it one of the top coins that investors like to invest in this crypto. So, is Dogecoin a scam or legit? Should you buy Dogecoin, and if so, how much? How much money can I make by investing in Dogecoin? To answer this and many other questions, please read this guide.
Why Should You Buy Dogecoin in 2021?
There are several compelling reasons to buy Dogecoin.
✅ Dogecoin demonstrated tremendous price growth and made significant returns for buy and hold investors.
✅ Dogecoin can be a good entry point for beginner traders who want to invest in crypto with low risk.
✅ Dogecoin can be mined, but unlike Bitcoin, without costly ASICs. Doge for everyone!
✅ It’s entertaining! Cryptocurrencies are becoming increasingly popular. By joining the Dogecoin community, you can add a little Wow to your life.
✅ The acceptance of Dogecoin by people like Elon Musk and companies like Tesla demonstrates that this altcoin is here to stay for a long time.
FREE Demo
? Largest Online Broker
? Social Trading Platform
✅ Zero Commissions
?? US Clients Allowed
How much Dogecoin should I buy?
When deciding on how many dogecoins you should buy and include in your portfolio, you need to remember that the price of this altcoin has been highly volatile and can be a risky investment. However, with high risk comes high investment return potential, and we have seen long term holders of Dogecoin demonstrating great profit potential.
We are not providing any recommendations as to what investment decisions you can make. Still, our team of cryptocurrency experts believes that you should include Dogecoin in most investment portfolios. That is because you can diversify the risk among different altcoins, such as Bitcoin, Ethereum, Ripple and many others. But Dogecoin became one of the largest cryptocurrencies by capitalisation over a short time, and it is here to stay. Many crypto traders allocate between 10% to 20% to Dogecoin in their buy-and-hold portfolios. Dogecoin is also an excellent currency for speculation, and many traders make decent returns day-trading this altcoin.
Different ways how to buy Dogecoin
There are different ways to buy Dogecoin, and it depends on your investment goals and the terms of your investment.
CFD Brokers
Unfortunately, if you are based in the US or UK, you won’t trade crypto CFDs unless you are a professional investor. However, if you are not based in these two countries, two online CFD brokers allow Dogecoin trading for most other jurisdictions. These brokers are Avarade and FOREX.com. CFDs are very popular among day-traders, but unfortunately, recent regulations made this type of financial instrument unavailable for crypto investors.
Crypto Exchanges
So if you want to buy Dogecoin, you will need to use one of the crypto exchanges such as Coinbase, Bitfinex or CEX.io. These exchanges offer good Dogecoin liquidity with sizeable daily trading volumes and the potential to leverage your investments.
Trading Robots
You can also get exposure to the upside from this altcoin by using automated trading software and crypto trading robots such as HaasBot, Ethereum Code, Bitcoin Evolution, and Algo Signals.
Many investors report that they can generate substantial profits by trading Dogecoin on autopilot, which doesn’t come as a surprise given its price volatility. The exchanges and robots also offer many options to trade Dogecoin against other altcoins like Ethereum and Bitcoin. Such a trading strategy is less crowded than trading against fiat currency pairs and offers excellent trading profit potential.
While you can’t buy Dogecoin with one of the CFD brokers, we have some good news for you. eToro, one of the leading online brokers, offers its clients access to Dogecoin. As a result, investors can buy Dogecoin with eToro and not derivative contracts like CFDs. eToro stores your cryptos in secure cold storage and its crypto exchange wallets. With eToro, you can actively trade Dogecoin or use it for your buy and hold strategy.
How to buy Dogecoin in 5 easy steps for UK and US customers with eToro
eToro is one platform that offers to purchase and sell cryptocurrency quickly for both UK and USA citizens. It is acting as a CFD broker and Exchange, especially for USA clients. See below how easy it is:
- Sign up for a free account with eToro by filling out the necessary fields.
- Please fill out the questionnaire; it will benefit both you and eToro.
- When you click ‘Deposit,’ you’ll be asked to choose the preferred option to fund your account.
- Please select your preferred payment method and add it to your account using the easy steps below.
- You’re good to go once you’ve entered the amount you want to deposit.
? Largest Online Broker
? Social Trading Platform
✅ Zero Commissions
?? US Clients Allowed
Where can I buy Dogecoin stock?
Dogecoin is a cryptocurrency; that is why you can only buy or sell it similarly to fiat currencies, but you can not buy or sell Dogecoin stock.
Stock represents ownership in a company listed on the stock exchange and available to invest in. Many investors trade and invest in stocks, and the stock market is the second largest after the forex market by trading volume. However, unlike forex, the investment universe in the stock market is vast, with hundreds of thousands of companies available to invest in.
The stock market also presents much higher return potential, with some companies increasing in price thousands of times. As a result, we have seen many success stories such as Amazon, Alibaba, Apple, Stripe and many other companies making their early investors millionaires. In addition, many online brokers offer online trading via Contract for Difference (CFDs) or by investing in the underlying asset.
So, while you can’t buy Dogecoin stock, thanks to online broker eToro, individual investors can now buy Dogecoin as quickly as any other company stock. While trading on the crypto exchange might look complicated to some beginner investors, eToro makes investing easy where you can buy any altcoin or stock with just one click.
How to buy Dogecoin with Coinbase Crypto Exchange
If you want to buy Dogecoin on the crypto exchange and are looking for the best trading platform, we recommend Coinbase as the best possible option.
Coinbase is one of the largest and most popular crypto exchanges that has been around for years. If you are interested in learning more about the company, you can read our Coinbase review, but here we will show you how you can buy Dogecoin with Coinbase.
The great thing about Coinbase is that it makes investing in crypto very easy. So while professional traders might want to take advantage of the professional crypto exchange Coinbase Pro, beginner investors can use Coinbase App.
In addition, the company keeps adding more and more altcoins to its investment universe so that you can create an excellent well-diversified crypto portfolio in a matter of minutes. With Coinbase, you can also buy Bitcoin, Ethereum, Ripple, and over 30 other cryptos and secure your digital assets in a separate Coinbase Wallet.
So, let us quickly show you how easy and fast it is to open an account with Coinbase if you want to start investing in cryptocurrencies.
Up to $132
? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company
Creating a Coinbase account to buy Dogecoin
As we mentioned before, Coinbase is one of the best crypto exchanges, and it is ideally suited for beginner investors /
Step 1: Create an account at Coinbase.com, just as you would with Facebook, Gmail, or other services. Choose a unique login and password, then do something that only humans can do.
Step 2: Open the Coinbase verification email and click the link in it. That will associate your email with your Coinbase account, allowing you to log in for the first time.
Step 3: Make use of two-factor authentication (2FA). That adds another layer of security to your valuable financial account. You’ll get a phone app that will show you a new six-digit code every 30 seconds. You’ll need to enter this code in addition to your password when logging into your Coinbase account to buy Dogecoin. Then, even if a hacker steals your password, they won’t be able to access the code on your computer, making you less vulnerable to being hacked and having your Doge stolen.
Step 4: Return to your inbox and click the link in the validation message that appears. This enables all basic trading features. Then, you’re all set to go. To the moon and back!
Depositing Funds to Buy Dogecoin with Coinbase
Step 1: Log in to your new Coinbase account and go to the “Trade” section. Select which cryptocurrency you want to buy. In our case, let’s go with Dogecoin.
Click the “Add Payment Method” to choose how you would like to deposit funds. You can use a debit or credit card or transfer money directly from your bank account. Please keep in mind that bank transfers can take up to a few days, while if you deposit funds with a debit card, you can start trading almost immediately.
Step 2: Once you select your preferred method of payment, click on “Deposit.” With the money cleared on your account, you will be able to buy Dogecoin and make your first trade.
How to place buy Dogecoin order with Coinbase
So, are you prepared to make the trade and invest real money? Great!
Step 1: Select “Trade” on the right side of the page. In the text window, search for “DOGECOIN.” in the list of cryptos available for trading.
Step 2: There is a lot of information on this computer. You will see a graph that shows how the Dogecoin price has changed over time. You can see the highest current Bid price (the top price at which some buyer is currently offering to buy 1 DOGE) and the lowest Ask price on the right (the lowest price at which the seller is offering to sell 1 DOGE). You’ll find interfaces to buy and sell Dogecoin at the bottom of the page. Put the price you want to pay for 1 DOGE in the “Bid” section of the Buy Dogecoin trading interface.
You may want many more DOGEs than one, but this method calculates your price by first learning how much you’d pay for one and then asking how many you’d like. Next, place the amount of DOGE you want to buy above that. Select “Max” if you only want to buy as much as you can with the Bitcoin you have. You can now see how much this order costs at the bottom of the screen. If you choose “Buy Dogecoin”, your order will be sent to Coinbase, which will attempt to match your Bid with an open Ask.
Your order would be complete in seconds if you asked for a close price to the current Dogecoin price. If you requested a lower price for Dogecoin, hoping that the price will fall quickly (how thrifty! ), the system would fill the order if and when the market price falls to that level.
Best platforms to buy Dogecoin in the USA
If you are based in the USA and looking to buy or trade Dogecoin, you have several options. Unfortunately, CFD trading is not allowed in the USA, so you don’t have many CFD brokers available. But luckily, US clients have access to the eToro platform where they can buy Dogecoin in the USA.
So, if you are a US client and looking for an online broker platform, the only option you have is eToro that allows you to buy and sell Dogecoin as an underlying asset. But, of course, you can also use one of the crypto exchanges, with Coinbase and CEX.io being the most popular among individual investors.
Our recommended platforms to buy Dogecoin in the USA
FREE Practice
- 15m+ Active Traders
- US Clients Allowed
- CopyTrader™ technology
Up to $132
- Most Trusted Crypto Platform
- Coinbase Card
- Earn Free Crypto
2000 XLM Giveaway
- Instant Buy Option
- Spot & Merging Trading
- Crypto Loans & Saving Products
Best platforms to buy Dogecoin in the UK
For those of our readers based in the UK, there are more trading options available. You can trade Dogecoin via CFDs with some of the most popular CFD brokers, AvaTrade and CityIndex. Investors also have an opportunity to buy Dogecoin with eToro or some of the largest crypto exchanges.
Our recommended platforms to buy Dogecoin in the UK
FREE Practice
- 15m+ Active Traders
- US Clients Allowed
- CopyTrader™ technology
0% Commissions
- Regulated in 5 Jurisdictions
- Zero Commissions
- Options Trading
FREE Practice
- FCA Regulated
- Multi Asset Platform
- Tight Spreads
Best apps to buy Dogecoin USA and UK – iPhone and Android
Today investors expect to be on top of the market 24/7, so if the trading platform doesn’t have an app, it won’t get any traction with its investors. Several mobile crypto apps are available, but we consider the Coinbase App and Coinbase Wallet one of the best on the market.
Coinbase is the largest crypto exchange in the world and has very advanced technology and top-level security. It also makes buying and selling cryptos very easy, even for beginners. So if you are looking for the best iPhone App to buy Dogecoin in the USA or UK, we can recommend Coinbase as the best available on the market.
Best iPhone App to Buy Dogecoin
Up to $132
? World Largest Exchange
? All Major Cryptocurrencies
✅ Protected by insurance
? Publicly Listed Company
And the top place in the nomination The Best App to buy Dogecoin in the USA or UK, on Android goes to eToro. This online broker has been on the front of the Bitcoin revolution and combines the online broker and crypto exchange features.
Best Android App to Buy Dogecoin
FREE Demo
? Largest Online Broker
? Social Trading Platform
✅ Zero Commissions
?? US Clients Allowed
How to buy Dogecoin (DOGE) – Frequently Asked Questions
Can I buy Dogecoin on Robinhood?
If you are located in the US, you can buy Dogecoin on the Robinhood and Forex.com platform. You can also day-trade cryptocurrencies on your Robinhood account. However, there are several things you need to remember if you want to use Robinhood for cryptocurrency trading:
- You can only buy and sell Dogecoin on your Robinhood account
- Robinhood will not provide access to your Dogecoin Wallet
- You will not be able to send or receive Dogecoin on Robinhood
- Robinhood will not allow you to send Dogecoin to another wallet
Can I buy Dogecoin on eTrade
eTrade is one of the largest online brokers, but it has not adopted cryptos on its platform. Unfortunately, that means you can not buy Dogecoin on eTrade right now.
Can I buy Dogecoin on TD Ameritrade?
Investors can’t buy Dogecoin or any other cryptocurrency such as Bitcoin or Ethereum on TD Ameritrade. Instead, we recommend using alternative online broker platforms such as eToro.
How much Dogecoin should I buy?
There is no right or wrong answer as it depends on how much you believe in cryptocurrencies in general and in this particular altcoin. But many professional cryptocurrency investors say they allocate between 5% to 20% to Dogecoin in their investment portfolios.
Can I buy Dogecoin on Webull?
Webull trading platform supports nine cryptocurrencies, including Dogecoin. So the answer to your question is yes, you can buy Dogecoin on Webull.
Can I buy Dogecoin on Fidelity?
Right now, Fidelity does not offer access to cryptocurrencies to its investors. So the answer is no, you can not buy Dogecoin on the Fidelity platform.
Should I Invest in Dogecoin?
The Short answer is yes. If you believe in the Dogecoin project and think that the price will increase, you should buy Dogecoin, even investing a little.
Can I buy Dogecoin with Credit Card? Can I Buy Dogecoin with Paypal? Can I Buy Dogecoin with USD? Can I Buy Dogecoin Instantly?
Unfortunately, the answer to these questions is NO. You can buy Dogecoin only with Bitcoin. First, buy Bitcoin through the usual channels, then send it to an exchange that handles DOGE.
Can I Buy Dogecoin With Bitcoin?
Yes, you can only buy Dogecoin with Bitcoin. Check our guide to learn how to do this.
What if I want a Different Dogecoin Exchange?
You have your options. Other than the Coinbase option introduced in this guide, you could go with Bitfinex, Cryptopia, Binance, CoinExchange, Gate.io, CEX.io, Koineks, YoBit, and a bunch of other exchanges. You can check which crypto exchanges support trading in Dogecoin on the popular website CoinMarketCap.com.