How to buy Dogecoin (DOGE) - Simple Guide

How to buy Dogecoin (DOGE)

Want to buy Dogecoin? Learn how to buy Dogecoin in a few easy steps. As you might see, large companies now also invest in cryptocurrencies, making it the ideal time to stay ahead of the herd and own your own digital currency like Dogecoin.

This clear beginners guide will guide you through the process of buying Dogecoin. When you follow these steps, you'll own your first Dogecoin today! How awesome!

Step 1 - Create an account

Binance is one of the top platforms globally. A big benefit is that it’s simple to purchase Dogecoin on Binance. Just like trading fiat currency, there is a small cost for every trade, and Binance offers good rates. Once you’ve purchased Dogecoin, you can choose to store your coins online or transfer them to a secure wallet for extra security, if available for your coins.

Below in super simple steps explained, how to create a new and safe account.
1.1 Safe account
Click on this link to go to Binance Exchange to create an account.

1.2 Strong password
Enter your email & strong password, tick off I agree to the Binance Term of Use and click register.

1.3 Verify email address
After this step is completed a verify email will be send to you.
Check your inbox and confirm your email address

1.4 Secure your account
Awesome your Binance account is created! Now follow the next steps and make sure your account is 2FA secured. This is highly recommended.

What is 2FA?
With 2FA you will generate a security code every time you login with a new session. This will help to prevent other people to get access to your account. Most used 2FA authentication options are SMS and authenticator apps like Google Authenticator.

1.5 You've an account now!
You're account is ready to use and buy Dogecoin (DOGE)

Step 2 - How much Dogecoin (DOGE) should I buy?

The advantageous thing about cryptocurrencies is that you can split them and purchase just a small portion. This way, you still own a piece of Dogecoin, which you can either spend or store.

It’s a good idea to first experiment with a small amount to build confidence in the process of acquiring Dogecoin and then scale up your transactions and buy more Dogecoin. (Be aware of the charges that are involved when buying and selling cryptocurrencies)

Two SMART reasons it’s smart to be active on multiple exchanges

Demand is growing, and sometimes you’ll want to trade quickly. Since some exchanges have extended approval waiting times, which can take weeks, it’s strategic to already have accounts on multiple exchanges.

Another reason to have accounts on multiple exchanges is that not all platforms list the same cryptocurrency coins. When you find a new coin that you want to buy, you don’t want to be stuck waiting for approval; instead, you want to act before the price increases. Click here for a FULL list of popular exchanges, including our personal TOP 5.

Step 3 - Payment methods for buying Dogecoin

Binance offers over 100 payment options to deposit funds and buy your Dogecoin. Simply choose your preferred currency and the payment method you’d like to use. Naturally, they also support the most common payment choices like Credit Card, Bank Transfer, and PayPal.

Note: Payment options vary by country, so sign in and check the available methods for your region. In the cryptoworld and on exchanges like Binance, you can't buy every coin directly with FIAT currency. That’s why stablecoins, such as Tether (USDT), were created.

Stablecoins are cryptocurrencies you can buy to later convert into the currency you wish to buy. Before purchasing your preferred coin, it’s recommended to check which coins are paired with the coin you want to purchase.

Step 4 - Trade or buy your first Dogecoin

In the world of crypto and on platforms like Binance, you can't buy every coin directly using FIAT currency. This is why exchanges created stablecoins such as Tether (USDT).

These stablecoins are cryptocurrencies you can purchase and later convert into the currency you wish to purchase. The term "stablecoin" is derived from their linkage to the USD, as their price mirrors that of the US dollar. Before purchasing your targeted coin, it’s smart to check which coins are paired with the one you’re looking to buy. For instance, some coins are only paired with Bitcoin and Ethereum, while others also pair with stablecoins.

Benefits of using stablecoins
Given that some cryptocurrencies can be volatile, stablecoins are often pegged to the USD. As a result, their prices remain relatively stable, reducing the risks when trading FIAT currency into other crypto coins, and vice versa.

Step 5 - Prepare for the crypto future!

As discussed earlier in this article about purchasing Dogecoin (DOGE), preparing yourself by creating multiple secure accounts on exchanges is important. This ensures you're prepared for the future, especially when new cryptocurrencies aren’t listed on the platform you currently use.

Step 6 - More information about Dogecoin

DYOR - Do Your Own Research
When investing in Dogecoin always make sure you do your own research on the coin, technology of the coin and the team behind the coin. Before you're investing in a coin its important to do you your own research on the coin, technology of the coin and the team behind the coin.

DCA - Dollar Cost Averaging Strategy
Dollar Cost Averaging is a strategy that is popular in the investment- and crypto-world. It's a tactic where you buy systematic a certain amount of a certain coin / investment you believe in. For example every month $100. As you buy systematic it will reduce the emotional involvement and as you spread the money you invest you spread the risk of a unstable market.

• Invest small amounts
• Less stress about fluctuating markets
• Less chance on losses as you never buy full amounts on peaks

• Won't make optimal trades as you don't invest all on the bottom
• Takes longer, as you're not rich after one trade
• If you DCA on one investment you can pick a loser investment what will only go down. Better is there to spread your investments while doing DCA.

Explanation Video DCA Dollar Cost Averaging

Explanation Video How to Buy Dogecoin

Official Dogecoin DOGE sources

• Website: https://dogeonbase.org/
• Whitepaper: Click here for the whitepaper of Dogecoin
• Dogecoin Announcements
• Dogecoin Twitter
• Dogecoin Reddit
• Dogecoin Chat
• Dogecoin Explorer

Benefits of cryptocurrencies

Cryptocurrencies offer a range of opportunities that have attracted individuals, businesses, and governments worldwide. One major benefit is the potential for increased financial inclusivity. Cryptocurrencies empower individuals who are without access to traditional banking services to engage with the global economy, helping the unbanked and underbanked populations. Additionally, cryptocurrencies offer faster and cheaper cross-border transactions compared to traditional banking systems, doing away with the need for intermediaries and cutting transaction fees.

Another major benefit is the safety and privacy provided by cryptocurrencies. The use of cryptographic techniques guarantees that transactions are protected and cannot be tampered with, while also preserving the privacy of users by providing pseudonymous transactions. Lastly, cryptocurrencies provide a decentralized and transparent financial system through the use of blockchain technology. The distributed nature of blockchain guarantees that no single entity has control over the network, lowering the risk of manipulation or censorship.

• Financial Inclusivity: Cryptocurrencies enable financial services for the unbanked and underbanked, enhancing financial inclusion and empowerment.
• Fast and Affordable Transactions: Cryptocurrencies enable quick and low-cost cross-border transactions, reducing the reliance on traditional banking systems and intermediaries.
• Security and Privacy: Cryptocurrencies utilize robust cryptographic techniques to secure transactions while protecting the privacy of users through pseudonymity.

• Volatility and Risk: Cryptocurrencies are recognized for their price volatility, which can cause significant fluctuations and potential financial losses for investors.
• Regulatory Challenges: The regulatory landscape for cryptocurrencies is still evolving, creating uncertainty and potential barriers to widespread adoption.
• Scalability and Energy Consumption: Some cryptocurrencies experience scalability challenges, resulting in slower transaction times and higher fees. Additionally, the energy consumption associated with certain consensus mechanisms, such as Proof-of-Work, has raised concerns about environmental impact.

It’s important to note that the pros and cons of cryptocurrencies depend depending on the specific cryptocurrency and its implementation. Moreover, the cryptocurrency market is dynamic, and ongoing developments may affect the advantages and disadvantages associated with these digital assets.

FAQ about Dogecoin (DOGE)

How to buy Dogecoin (DOGE)?

You can buy Dogecoin on most well-known cryptocurrency exchanges like Binance, Coinbase, or Bybit. First, you'll need to sign up and then select a funding option like a bank transfer, or crypto to purchase Dogecoin.

Is it safe to invest in Dogecoin?

Investing in Dogecoin comes with the same risks as any cryptocurrency due to price swings. It's important to conduct thorough research and only invest funds that you can manage to lose. Choosing secure wallets and exchanges can help safeguard your investment.

What are the transaction fees for Dogecoin?

Transaction fees for Dogecoin vary based on the network’s load and the specific wallet you're using. Some networks have dynamic fees based on activity, while others have fixed fees. Be sure to look at the fee structure before making transactions.

Can I convert Dogecoin to other cryptocurrencies?

Yes, you can usually convert Dogecoin to other crypto coins using trading services or platforms that offer coin-to-coin trading pairs. Many exchanges support swapping Dogecoin for other popular assets like stablecoins.

How do I track the price of Dogecoin?

You can track the price of Dogecoin using a variety of platforms, including cryptocurrency market data websites like Tradingview, CoinMarketCap, or CoinGecko. Many exchanges also provide live price updates on their platform.

How do I sell Dogecoin (DOGE)?

To sell Dogecoin, you can choose a cryptocurrency exchange that supports it. Simply send your Dogecoin to the exchange, choose your preferred selling method (market or limit order), and choose to get the funds in another cryptocurrency.

How is Dogecoin different from Bitcoin?

Dogecoin is different from Bitcoin in several ways, including its use case, settlement times, and core technology. For example, Bitcoin is primarily seen as a digital gold, while Dogecoin might have additional use cases like enabling decentralized applications.

How can I keep my Dogecoin secure?

To keep your Dogecoin secure, it's important to use strong passwords, enable two-factor authentication on your exchange or wallet, and consider using a hardware wallet for long-term storage. Avoid disclosing private details and be cautious of phishing scams.

What is the best time to buy Dogecoin?

There is no exact "best time" to buy Dogecoin due to the price swings of the cryptocurrency market. Many buyers use strategies like dollar-cost averaging (DCA) to buy at regular intervals, lowering the effect of market swings.

What affects the price of Dogecoin?

The price of Dogecoin is impacted by factors such as market demand, overall cryptocurrency trends, developments related to the coin, regulatory developments, and broader global market trends. Price fluctuations are typical in the cryptocurrency market.