How to Buy Dogecoin

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Despite humble beginnings as a satirical meme token, Dogecoin is now seen by market commentators as a legitimate payment solution. To buy DOGE tokens, it’s best to join an upstanding brokerage.

To get started, study this guide on how to buy Dogecoin and sign up with a broker. You’ll also find reviews covering the best places to access digital assets in safety.

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  • 100% commission-free platform with tight spreads
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    How to Buy Dogecoin in 10 Minutes or Less – Fast Track Guide

    It’s not the most complicated task to learn how to trade crypto on a basic level. However, it’s important to opt for an ethical and licensed broker, where you can buy Dogecoin in safety. See a quickfire guide below, showing you how to sign up.

    • Step 1: Create an Account With a Trustworthy Cryptocurrency Broker – The best platforms tend to be approved by regulatory bodies, such as the FCA or ASIC. After some fact-finding, sign up with the broker of your choice. Enter some basic information to identify yourself. This will invariably be your date of birth, home address, full name, and nationality. You will also be prompted to input a safe password and username, to access your account from here on in.
    • Step 2: Complete the KYC Process – Regulated online brokers follow KYC guidelines, and therefore must confirm your address and ID. This is easier than it sounds. Attach copies of your passport and a bank statement or bill. The latter will need to display your name, address, and an issue date within 3 months. The best platform to buy Dogecoin will complete the validation process quickly.
    • Step 3: Make a Deposit – When you are looking for the most suitable place to buy DOGE tokens, the more supported deposit methods, the better. For instance, some brokers accept a plethora of types – from credit and debit cards to e-wallets and wire transfers. Others can only support cryptocurrency deposits. Complete all necessary information, such as the amount to fund your account with, and confirm to move forward.
    • Step 4: Buy Dogecoin – A user-friendly broker will provide a built-in search bar on its homepage. Type Dogecoin in and you will see a list of related assets. Click the one you wish to access, and fill in the subsequent order form to buy DOGE tokens. This will include the amount you wish to allocate to the digital currency. After verifying your order, you will find Dogecoin listed in your portfolio.

    That is the gist of how to buy Dogecoin in a few clicks. As you can see, it’s a simple process. All that remains is to select an approved broker. See our reviews next.

    76.25% of retail investor accounts lose money when trading CFDs at this provider

    Best Broker to Buy Dogecoin

    We discovered an abundance of platforms that allow you to buy/trade Dogecoin, and we’ve reviewed the best in full.

    Below, we have listed some of the factors we consider in pursuit of the best place to buy Dogecoin:

    • Are trading costs low to buy Dogecoin?
    • Do regulatory bodies watch and provide a license to the space?
    • Does the broker support a range of alternative cryptocurrencies?
    • Is the website easy to navigate, and is there a mobile app available?
    • Does the platform offer a variety of payment types to choose from?
    • Are DOGE CFDs available to avoid ownership?

    What works for you might depend on your level of experience, and whether you want to adopt a short, or long-term strategy to buy DOGE tokens. See the best brokers to buy Dogecoin below.

    1. AvaTrade – Overall Best Broker to Buy Dogecoin

    AvaTrade is the overall best broker to buy Dogecoin via CFD instruments. You will not take ownership of the underlying digital currency, and will therefore not need to open or secure a crypto wallet. Numerous tier 2 and 1 bodies regulate AvaTrade, so there is no doubting that this is a legitimate trading space. Moreover, many clients can access leverage when trading derivatives.

    Let's hypothesize you allocate $200 to Dogecoin, with 1:2 leverage. Your position would double to $400. Leverage is similar to a loan and should be used with wariness. Digital markets here include Ripple, Stellar, Dash, Litecoin, and others. If you predict a price increase, you can place an order to buy Dogecoin. Alternatively, if you foresee DOGE tokens falling in value in the future, you can open a sell position.

    AvaTrade charges 0% commissions to trade Dogecoin. You will need to pay the spread, which is competitive. To get the ball rolling, you can fund your account with one of many payment types, with no deposit fees. Deposit methods comprise Visa, Maestro and Mastercard issued credit/debit cards. You can also select a wire transfer, which might take days. Another route is to opt for an e-wallet, such as PayPal.

    Android and iPhone users can download the free mobile app. Furthermore, if you would like to try mirroring the buy orders of someone else, check out AvaTrade's partnered platforms. This includes DupliTrade and ZuluTrade. Beginners might find the learning section useful. This features concept guides, economic indicators, strategies, and more. Note that via regulated brokers such as this, crypto derivatives are prohibited for US and UK Clients as per CFD rules.

    Our Rating

    • 0% commissions to buy Dogecoin CFDs with tight spreads
    • Regulated by bodies keeping the space clean include ASIC, the FCA FSCA and more
    • Plenty of crypto CFDs to trade in safe conditions
    • No US clients and inactivity fee following a 12 months no trading
    71% of retail investors lose money when trading CFDs with this provider

    2. Capital.com – Best Dogecoin Trading Platform for Newbies

    Are you a complete newbie looking to access the Dogecoin market in a flexible way? If so, CFD broker Capital.com is a good place to begin. Like at AvaTrade, you can speculate on both falling and rising markets. As mentioned, there is no need to store tokens in a wallet when you trade Dogecoin CFDs. Moreover, for safety, the FCA, CySEC, ASIC, and NBRB tier-1 organizations, license and regulate this platform.

    Capital.com offers 0% commission and leverage up to 1:2 to buy DOGE tokens via CFDs. The spread is tight across tons of digital markets, which makes this broker suitable for newbies. In addition to Dogecoin, there are 207 cryptocurrencies. This includes Ethereum, Chainlink, Bitcoin, SushiSwap, and more. As such, you can create a diverse basket of digital currencies under one low-fee platform.

    There are over 4,000 assets listed at this brokerage. Furthermore, the platform covers all withdrawal and deposit fees. When it's time to fund your account, you can choose between credit and debit cards, wire transfers, or e-wallets like Skrill. Check what is available in your locality first. For instance, US clients cannot make a deposit at Capital.com. This is due to regulations surrounding crypto CFDs.

    The minimum deposit is $20 at Capital.com. However, if you elect to fund your account using a wire transfer, you will need to deposit $250 or more. Note that you will not be able to buy Dogecoin CFDs for at least 3 working days if opting for the latter. If you would like to trade and view your account on the move, you can download and install the free app for iPhone and Android.

    Our Rating

    • Dogecoin CFDs with 0% commission fees
    • Newbie-friendly minimum deposit of $20 for credit/debit card and e-wallet deposits
    • Regulated and licensed by the FCA, ASIC, CySEC, and NBRB
    • Not suitable for seasoned crypto traders
    78.77% of retail investors lose money when trading CFDs with this provider

    3. LonghornFX – Trade Dogecoin With High Leverage

    This broker offers high-leverage CFD trading. As such, you can profit from the price movements of Dogecoin without taking ownership. You can trade a plethora of assets with leverage up to 1:500. This means you could potentially increase your buying power 500-fold. So a $100 order could become $50,000. It is only advisable to use high leverage once you have grasped the finer details of how to buy Dogecoin.

    This is because your losses might also be increased if you speculate incorrectly. We checked out the variety of assets and found that there are 33+ crypto pairs to trade at LonghornFX. This is inclusive of DOGE/USD. You will also find pairs that include Tron, Litecoin, Dash, OMG, IOTA, Ripple, and more. This broker prefers Bitcoin deposits but facilitates other payment types to buy Dogecoin via CFDs.

    For instance, you can select credit/debit cards or wire transfers. To do this, go to 'Transactions' and click 'Deposit Funds'. Click Mastercard or Visa, select your currency, and add the amount. The third-party payment provider allows you to purchase crypto tokens to deposit your LonghornFX account. Would you rather add funds using your preferred bank? You may be better with AvaTrade or Capital.com.

    This isn't a commission-free broker, but the fee is competitive, with the equivalent of $6 charged for every Bitcoin traded. If you would like to access trading tools to help you predict the Dogecoin market, look no further than MT4. You can connect your broker account with the third-party trading platform to view indicators, charts, and much more. There is no official minimum deposit, but you should add $10 or over.

    LT2 Rating

    • Tight spreads and low commissions on Dogecoin CFDs
    • Low commission and high leverage up to1:500
    • Same-day withdrawals and wide range of crypto CFDs
    • Platform favors crypto deposits, which might be inconvenient for newbies
    Your capital is at risk when trading CFDs with this provider

    4. Currency.com – Best Platform to Buy Tokenized Dogecoin

    Currency.com lists numerous tokenized assets, so offers something different to those looking to buy Dogecoin. Instead of CFDs or buying direct, when you access DOGE at this platform, you are purchasing a digital token, pegged to the underlying price of Dogecoin. However, in a similar way, this enables you to speculate on a range of markets, without outright owning them.

    Clients can trade Dogecoin to US dollars with a 1:10 margin. Another advantage of buying and selling DOGE.cx, the tokenized exchange-traded version of Dogecoin, is that you don't need to consider storage. The commission fees are competitive here. When it comes to adding funds to your account, you should note this platform prefers Bitcoin, Litecoin, and Ethereum deposits. The minimum in this case is $10.

    Furthermore, let's say you don't hold any cryptocurrencies and wish to fund your account to buy tokenized Dogecoin with Visa or Mastercard. In this scenario, you will need to pay a rather expensive 3.5% fee. The minimum deposit when opting for this method is $20. Bank transfer deposits are free of charge but can take days to land in your account. Furthermore, the minimum deposit when opting for the latter goes up to $50.

    Other markets include UniSwap, Ethereum, Ripple, Bitcoin, Binance Coin, and many more. As such, constructing a mixed bag of digital assets is easy enough at Currency.com. There is also a mobile app for people who want to buy and sell tokenized Dogecoin on the go. On the main platform, there is a learn to trade section whereby newbies can brush up on their skills with trading guides and online lessons.

    LT2 Rating

    • Sell and buy tokenized Dogecoin with low commissions
    • Trade Dogecoin to US dollars on 1:10 margin
    • Same-day withdrawals and plenty tokenized markets to buy and sell
    • Bitcoin deposits are preferred by this platform
    Your capital is at risk when trading tokenized assets with this provider

    How to Buy Dogecoin – Step-by-Step Walkthrough

    To buy Dogecoin in a legitimate environment, you should ideally choose a tier-1 regulated broker.

    For the following guide, we explain in detail how to sign up with a regulated broker. The best platform to buy Dogecoin will make the whole process timely and stress-free, from start to finish.

    Step 1: Open a Crypto Broker Account

    Head over to your chosen platform and click the link to create a new account. If you are yet to make your mind up, you can revisit the earlier broker reviews.

    Once you’ve decided, you can start by devising a username and password to use moving forward. Next, add your name, date of birth, contact details, nationality, residential address, and any other information needed by the broker.

    Hit continue to proceed to step 2 of signing up with a broker to buy Dogecoin.

    76.25% of retail investor accounts lose money when trading CFDs at this provider

    Step 2: Complete KYC

    When researching the ins and outs of how to buy Dogecoin, you will notice many platforms mention KYC. To complete this process, the broker will prompt you to upload a photo ID, like a driving license.

    To validate the home address that you entered in step 1, you can attach a letter or document. This will need to show an issue date, as well as your name and address.

    Step 3: Deposit Funds

    The chances are that you already have an indication of which payment method you wish to use to buy Dogecoin.

    The best Dogecoin platforms will support a plethora of methods, such as the following:

    • e-wallets. This can include Skrill, PayPal, Neteller, and many others
    • Credit/debit cards. The most common are issued by Mastercard, Maestro, and Visa
    • Wire transfers. This is the slowest way to access the cryptocurrency markets and buy Dogecoin, taking anywhere between 3 and 10 days

    Select your preferred type from the list. Next, add the amount you wish to deposit and confirm to proceed.

    Step 4: Search for Dogecoin

    Using the search bar feature, you can begin your journey to buy Dogecoin tokens by locating the relevant market.

    Here, we began typing Dogecoin at a top-rated brokerage and discovered DOGE/USD CFDs.

    Click the Dogecoin market of your choosing. This will confirm your selection and advance you to the next step, where you can create a trading order to buy Dogecoin.

    Step 5: Place Buy Order

    If this is your first time placing an order to buy Dogecoin, there is nothing to worry about. The best brokers, such as the ones we reviewed today, will make this achievable in a few clicks.

    Start by checking the top of the order box, to make certain it’s the Dogecoin market you want to access.

    As well as creating an order to buy Dogecoin, you will need to enter the amount you want to allocate to the position. For instance, if you were willing to risk $50, enter this figure in the appropriate box and confirm all.

    Step 6: How to Sell Dogecoin

    When you have educated yourself on how to buy Dogecoin, you should know that you can just as easily sell it when you foresee some gains.

    Here we are going to assume that you chose to buy Dogecoin at an online brokerage by following steps 1 to 5:

    • Sign in to your broker account using the password and username you initially entered in step 1
    • You will need to head over to your portfolio to find DOGE tokens
    • Locate Dogecoin in your invested markets, and click it to proceed
    • Create a sell order to confirm you want the broker to buy the tokens back off you

    You should find that the revenue from the sale of your DOGE tokens is now available as trading funds. If you have a complete account, having finished the KYC process, you can request a withdrawal. Alternatively, you might elect to allocate the funds to another market, such as Shiba Inu coin, for instance.

    Best Dogecoin Wallets

    The best Dogecoin wallets offer you a safe haven for your digital assets. It’s important that you choose a storage solution that is appropriate for your level of knowledge on digital currencies.

    Ledger Nano  – Best Dogecoin Wallet for Security

    Crypto wallets come in various forms. The Ledger Nano is a hardware offering.

    • The Ledger Nano is a tangible wallet that resembles a flash drive
    • This DOGE wallet comes with a range of security protocols, such as funds being kept in cold storage
    • You will be given a unique passphrase and private keys, the latter will remain in the wallet
    • Hardware wallets often require firmware updates to keep them secure

    If you feel confident enough to buy Dogecoin, and secure the digital assets yourself, you should note this may cost between $50 and $199.

    Trust Wallet – Overall Best Dogecoin Wallet

    The Trust wallet is a software storage solution to store DOGE tokens. If you buy Dogecoin, you can store it here and access your assets on your phone.

    • The Trust Wallet app can be downloaded on iPhone and Android devices
    • You can buy Dogecoin via the app, allocating anywhere from $50, all the way up to $20,000 to DOGE tokens
    • Trust Wallet uses a third-party payment platform called MoonPay, among others. This allows you to buy Dogecoin using credit and debit cards via the app

    Crucially, if you decide to trade CFDs, you will not own anything, so won’t need a crypto wallet at all. In this scenario, you are free to speculate on the underlying value of Dogecoin.

    What is Dogecoin?

    Dogecoin is a cryptocurrency that started life as a lighthearted token, based on a meme that went viral. DOGE tokens have experienced increased popularity amongst crypto investors, traders, and celebrities around the world.

    Elon Musk played a large part in shining the spotlight on this digital asset. The Tesla billionaire has tweeted about Dogecoin on multiple occasions. At one point this caused a 30% increase in value and the CEO crowned it ‘the people’s cryptocurrency’. At its all-time lowest value, you could buy a DOGE token for $0.00008. The highest price of Dogecoin, to date, is $0.73.

    Mining Dogecoin

    For those unaware, crypto mining is a process that entails multiple transactions being verified and added to the blockchain ledger. This is also a way for new cryptocurrencies to be created.

    • Some cryptocurrencies, such as Ripple, for instance, can’t be mined
    • To mine Dogecoin, you will need to have access to powerful hardware
    • Many DOGE token miners also install sophisticated software, such as CPU Miner or EasyMiner
    • Some people opt to join a pool, whereby many miners club together, allowing each person to contribute to the processing power needed. As such, the rewards are shared accordingly

    Interestingly, thanks to Dogecoin and Litecoin using the exact same script hashing algorithms, a phenomenon called merge mining has appeared. In other words, DOGE tokens can be mined at the same time as LTC, you can also buy Litecoin via most online brokers as it is a well-known altcoin.

    Dogecoin Investment Risk

    When you are learning about the finer details of how to buy Dogecoin, you should be conscious of the risk of doing so. DOGE tokens are likely to rise and fall in value without much (if any) warning, so there is every chance you could lose money rather than making it.

    • Many seasoned traders create a varying portfolio that includes DOGE tokens, as well as other digital currencies
    • You may also diversify with more traditional assets, such as stocks
    • This way, you are not putting all of your eggs in one basket when you buy Dogecoin

    If you are new to buying and selling cryptocurrencies, you might be more comfortable signing up with a regulated broker. This sort of platform is often able to facilitate fiat deposits such as credit/debit cards, and won’t require you to buy or download a wallet.

    How to Buy Dogecoin – Conclusion

    Dogecoin has gained a good deal of media attention this year. To buy Dogecoin from a legitimate source, you are best accessing it at a brokerage with a license. You will also need to consider how cost-effective the trading fees are, and how you might store your DOGE tokens, if at all.

    Capital.com holds a license from various regulatory bodies, including the FCA. This is a CFD broker, so you can speculate on the rise or fall of Dogecoin and still make gains if correct. You can buy Dogecoin via CFDs with 0% commission and fund your account with $20+. Deposit options include bank transfers, credit/debit cards, and e-wallets.

    Eightcap - Regulated Platform With Tight Spreads

    Our Rating

    • Minimum deposit of just $250
    • 100% commission-free platform with tight spreads
    • Fee-free payments via debit/credit cards and e-wallets
    • Thousands of CFD markets including Forex, Shares, Commodities, and Cryptocurrencies
    Start your journey towards reaching all your financial goals right here.

     

    FAQs

    How do you buy Dogecoin with Paypal?

    To buy Dogecoin with PayPal, you will have to do some homework and find a platform able to support this type of payment method. AvaTrade and Capital.com both accept PayPal and offer 0% commission. Neither will charge a deposit fee.

    How do you buy Dogecoin with a credit card?

    To buy Dogecoin with a credit card, you must ensure the broker lists it amongst its supported payment types. Both Capital.com and AvaTrade support this payment method and won't charge a deposit fee.

    Can you buy Dogecoin on Coinbase?

    Yes, you can buy Dogecoin on Coinbase but should be mindful of the fees. To give you an example, if you want to add funds to your account with a debit/credit card, the exchange will take 3.99% of the amount. In other words, for every $1,000, you would be charged $39.90. AvaTrade and Capital.com do not charge a deposit fee.

    How do you buy Dogecoin with a bank transfer?

    Many of the brokers that list Dogecoin also accept bank transfer. However, if you want to access the digital markets and buy Dogecoin today, you are better off opting for an e-wallet or credit/debit card. When the time comes to make a deposit, these payments will clear much sooner.

    How do you sell Dogecoin?

    The most timely and uncomplicated way to sell Dogecoin is to sell the tokens back to the broker you bought them from. Open the portfolio page on your account and select DOGE tokens. Next, place an order to sell the asset to the broker. Shortly after, you will see the proceeds added to your available equity.