Cryptocurrency service

How to Buy Dogecoin DOGE

how to buy doge

Hybrid exchanges typically use a decentralized architecture, with trades being executed on a decentralized network. However, they also have a central authority that manages the order book and provides liquidity, which ensures fast and reliable trades. Centralized exchanges (CEX) are cryptocurrency trading platforms that are operated and controlled by a central authority. They typically require users to create an account in order to trade cryptocurrencies.

You can deposit money into your cryptocurrency account through various methods, such as credit or debit cards, depending on the exchange’s policies, as well as your jurisdiction. Whichever platform you choose, consider transferring your coins off of the app. Some investors prefer to move their crypto into separate crypto wallets to protect their coins from hackers. While Dogecoin remains a wildly popular choice, it is not universally available on all crypto exchanges.

This is partly due to its unlimited supply, and also because its price is largely driven by social media movements and hype. Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. While current DOGE values are considerably lower, the all-time high for this currency reached $0.74 on May 8, 2021. Current data shows DOGE is worth approximately $0.08 as of this writing. For Android mobile devices, there’s the official Dogecoin Mobile Wallet, which generally has favorable reviews from users.

Buying Dogecoin in 3 simple steps

While there are viral stories of people who invested trivial amounts in DOGE but are now millionaires, invest with caution. Cryptocurrencies are very risky investments, and Dogecoin is uniquely volatile because it has an unlimited supply. Dogecoin has seen price surges in the past, but it typically trades at prices that are well under $1, which makes it one of the more affordable cryptocurrencies on the market. We believe everyone should be able to make financial decisions with confidence. NerdWallet, Inc. is an independent publisher and comparison service, not an investment advisor.

how to buy doge

Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors. To purchase Dogecoin, you’ll need to open an account with a cryptocurrency exchange, where buyers and sellers meet to exchange cryptocurrency for dollars. Popular exchanges include Coinbase and Kraken, which offer simple, easy-to-use platforms. You can also purchase crypto using beginner-friendly investment apps like Robinhood.

What You Need To Open a Cryptocurrency Exchange Account

Robert is a senior editor at Newsweek, specializing in a range of personal finance topics, including credit cards, loans and banking. Prior to Newsweek, he worked at Bankrate as the lead editor for small business loans and as a credit cards writer and editor. He has also written and edited for, The Points Guy and The Motley Fool Ascent. Holly Johnson is a freelance contributor to Newsweek’s personal finance team with a focus on credit cards and rewards, financial products and travel. Johnson has spent more than a decade covering financial and travel news and resides in Indiana with her husband and two children.

One of the greatest strengths of Dogecoin lies in its passionate community, who have done a great deal of fundraising. Notably, supporters raised money to send the Jamaican bobsled team to the Sochi Winter Olympics as well as to sponsor NASCAR driver Josh Wise. While it started out as a joke, it quickly gained a lot of traction and a loyal community. In this post, I’ll explain a bit about what Dogecoin is and how you can buy it online.

Find a financial planner near you to discuss your goals and investment options. Typically, you get instant access to a portion of the money of your deposit for trading. If you deposited a large amount of money—typically more than $1,000—you may have to wait a few days for the transfer to clear before you can use the entire deposit.

  1. Hot wallets are digital and connected to the internet whereas cold wallets are physical hardware that you can disconnect, making them much less susceptible to hacking.
  2. These wallets might be vulnerable to malware, so be sure to take the necessary precautions and only download official or highly recommended wallets.
  3. Remember, it’s always worth checking out reviews of cryptocurrency exchanges before signing up and buying.
  4. These fees can range from a few dollars to several hundred dollars per year, depending on the exchange and the amount of the minimum balance requirement.
  5. That’s why experts recommend investing no more than 3% to 10% of your portfolio in cryptocurrencies.

Only a handful of vetted exchanges supply an option for purchasing Doge with Dollars or Euros. With its low price and growing popularity, more and more people are interested in purchasing Dogecoin. In just three simple steps, you can start investing in this popular digital currency. Dogecoin, known as the people’s currency or underdoge, has sparked both optimism and skepticism in the cryptocurrency world. Despite gaining mainstream attention in 2021, its future remains uncertain in 2022 after the depegging of Terra. While Dogecoin has not reached its all-time high prices, reaching $1 is a possibility when the cryptocurrency market picks up again.

How to Buy Dogecoin

You will be asked to provide your personal information and verify your identity. Additionally, many cryptocurrency exchanges require users to go through a KYC (Know Your Customer) process to verify their identity. This may involve submitting government-issued identification documents, such as a passport or driver’s license, and a proof of address, such as a utility bill or bank statement. Investing in cryptocurrencies, decentralized finance (DeFi), and other initial coin offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile.

You can store Dogecoin on crypto exchanges like Coinbase and Kraken. Crypto exchanges make it easy to buy and hold the private keys to your investments on your behalf. But you may want to move your DOGE and other digital investments to a crypto wallet for safekeeping. After all, moving your crypto to a wallet gives you control of your private keys and the power to keep your crypto investments safe from hackers and thieves. There are very few cryptocurrency exchanges that accept PayPal payments.

How do I Convert Bitcoin to Dogecoin?

You can buy Dogecoin on popular crypto platforms like Coinbase and Kraken and specific investing apps like Robinhood. Make sure you confirm the platform you’re considering sells DOGE before you open a new account. This is another reason you’ll want to research and compare the best crypto exchanges to find the right fit.

A number of smaller cryptocurrency exchanges, Exrates, YoBit, and Livecoin, all have DOGE/USD pairs. and Bittylicious and Cryptomate offer brokerage services for Dogecoin via EUR or GBP. Bittrex is a US based cryptocurrency exchange that has grown in popularity in recent years.