Today, we’ll be looking at one of the more unique cryptocurrencies around – Dogecoin and finding out where and how to buy Dogecoin.
Step by Step Guide to Sell Dogecoin (at Coinsquare)
- Sign up on Coinsquare and verify your account. …
- Fund your Coinsquare account using Dogecoin. …
- Use Quick Trade to select DOGE from the list of currencies you want to sell.
- Sell your DOGE and receive your Euro or Canadian dollar amount on Coinsquare.
To tell you the truth, there’s one highly-recommended platform that you should check out when buying Dogecoin – Binance! Since Dogecoin is on fire right now, this might be an opportunity of a lifetime.
How to Buy Dogecoin
Buying Dogecoin can be a bit tricky if you’re not used to buying cryptocurrency. There are a few ways to do it though. Below, you’ll find instructions on how to buy Dogecoin with USD, how to buy Dogecoin with a credit card, and how to buy Dogecoin with PayPal.
How to Buy Dogecoin with USD
There are not many options to buy Dogecoin with USD directly. However, some cryptocurrency exchanges do offer fiat pairs with DOGE. The most reputable exchange for buying Dogecoin is:
- Binance (here, you can buy DOGE with a credit or debit card, in addition to other methods)
For some less-known, smaller exchange alternatives, you could check out:
- Exrates
- YoBit
- Livecoin
To buy Dogecoin with one of these exchanges, simply follow the steps below. Each exchange will be slightly different but for the most part, these steps will apply to all.
- Register at your chosen exchange. I’ll use Binance for this example. Just click “Register” at the top right-hand corner of the exchange page.
Fill in the form pictured below:
- Once registered, make a deposit. Click on “Wallet” and then “Fiat and Spot” on the top-right navigation bar of the website.
- Click the “Deposit” button. You will be presented with the below options. Click the deposit currency you want to use to send USD to the exchange.
- Follow the onscreen prompts entering in the information Binance ask for.
- After that, find the “DOGE/USD” pair. To do this type “Doge” in the search bar. Click the “DOGE/USDT” pair. USDT is a stablecoin – its price is always fixed to that of the US dollar (you’ll want to purchase USDT with a 1:1 ratio of your deposited USD, first). Finally, enter the amount of Dogecoin you wish to buy, pick the Market tab, and click “Buy DOGE”.
- After you make your trade, you should immediately withdraw your DOGE to a wallet that is not an exchange. To do this, click “Withdraw” next to your DOGE balance. You will then need to enter your secure wallet address.
Note: It’s important to withdraw your DOGE straight away to a wallet that you control the private keys of. Exchanges are not safe places to store cryptocurrency. They get hacked often. Download a multi-asset wallet such as Jaxx. Better still, use a hardware wallet such as the Ledger Nano X. This applies to all the methods to buy Dogecoin listed below.
Each of the exchanges that let users buy Dogecoin with USD accepts different USD deposit options. I’ve listed each below:
- Binance: Visa / Mastercard, wire transfer, ACH bank transfer, SWIFT, SEN.
- Livecoin: Visa / Mastercard, Payeer, Perfect Money, Capitalist, AdvCash, Qiwi.
- Exrates: Payeer, Perfect Money, AdvCash, NixMoney.
- YoBit: OkPay, Payeer, AdvCash, PerfectMoney, Capitalist.
Advantages and Disadvantages Buying Dogecoin with USD Directly
Advantages:
- Quick and easy.
- You only need to register at one exchange.
Disadvantages (related to smaller exchanges only):
- Small exchanges (like those listed above) are often completely unregulated. This means that they could disappear at any time and there would be nothing you could do about it. You’d just lose all the money you had stored at the exchange! Remember, do not leave any cryptocurrency on any exchange EVER.
- These small exchanges can charge large fees for depositing with USD directly. Some of the above methods listed will be free. Others might charge 1-2%.
- Smaller exchanges usually have less liquidity. This means if you were wanting to buy a large amount of Dogecoin, they might not have enough to sell you. The below methods are much better for larger orders.
- The exchange rates and the fees charged for trades can be very high. You should always check the rate against a website like Coinmarketcap before buying.