Where to purchase Dogecoin (DOGE)
Where to purchase Dogecoin in a few easy steps explained. As giant companies now also invest in cryptocurrencies, this is the time to own your own crypto-valuta like Dogecoin.
This easy beginners guide will take you safely and step-by-step through the process of buying Dogecoin. When you follow these steps, you'll own your first Dogecoin today! How thrilling!
TIP! Before starting with the article below, make sure you create an account (within 1 minute) so you can follow the steps below directly.Where to acquire Dogecoin (DOGE) for beginners
- Step 1 - Create & secure an account
- Step 2 - How much Dogecoin (DOGE) should I buy?
- Step 3 - Payment methods for buying Dogecoin
- Step 4 - Trade or buy your first Dogecoin
- Step 5 - Prepare for the crypto future!
- Step 6 - More information about buying Dogecoin
Step 1 - Create an account
Binance is one of the biggest platforms in the world. A big benefit is that it is very easy to get Dogecoin on Binance. As with normal currency trading, you pay a small fee on every trade you make, and Binance has competitive rates. Once you've bought Dogecoin, you can choose to keep your coins online or send them to a hardware wallet if available for your cryptocurrency.
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 Terms of Use" and click register.
1.3 Verify email address
After this step is completed, a verification email will be sent to you.
Check your inbox and confirm your email address.
1.4 Secure your account
Great! Your Binance account is created! Now follow the next steps to ensure your account is 2FA secured. This is highly recommended.
What is 2FA?
With 2FA, you'll generate a security code every time you log in with a new session. This will help prevent unauthorized access to your account. The most used 2FA authentication options are SMS and authenticator apps like Google Authenticator.
1.5 You've got an account now!
Your account is ready to use, and you can purchase Dogecoin (DOGE).
Step 2 - How much Dogecoin (DOGE) should I purchase?
The good thing about cryptocurrencies is that you can divide them and purchase just a small piece. This way, you still own your part of Dogecoin and you can spend it or keep it.
To gain your confidence, it’s wise to try with a small amount first to get familiar with the process of purchasing Dogecoin. After that, you will know the process and can easily expand your transactions to get more Dogecoin. (be aware of the fees involved when you purchase and sell cryptocurrencies)
Two SMART reasons it's good to be active on multiple exchanges
It's smart to create multiple accounts at once. The demand for trading is increasing rapidly, and sometimes you need to trade immediately. Therefore, it's good to have accounts on multiple exchanges.
Another reason to have an account on multiple exchanges is that not all exchanges list the same cryptocurrency coins. When you come across a new coin that you want to get, you don't want to end up waiting—you want to take action before the price rises. Click here for a FULL list of popular exchanges, including our personal TOP 5.
Step 3 - Payment methods for purchasing Dogecoin
Binance has over 100 payment options to deposit money and purchase your Dogecoin. Conveniently select your preferred currency and the payment option you want to use. Of course, they also provide the most common payment methods, such as Credit Card, Bank Transfer, & PayPal.
Note: every country has different payment options, so just log in and check the payment methods for your country. In the crypto world and on exchanges like Binance, you can't buy every coin directly with FIAT currency. Therefore, they created stable coins like Tether (USDT).
These are cryptocurrencies you can purchase to later trade for the currency you want. Before buying your preferred coin, it's helpful to research which coins are paired with the one you want to get.
Step 4 - Trade or get your first Dogecoin
In the crypto world and on exchanges like Binance, you can't get every cryptocurrency directly with FIAT currency. Therefore, they created stable coins like Tether (USDT).
These stable coins are cryptocurrencies that you can buy to later swap for the currency you want. The name "stable coin" comes from their linkage to USD, as the price of these coins tracks the price of the USD. Before geting your preferred coin, it's helpful to check which coins are paired with the one you want to get. For example, some coins only pair with Bitcoin or Ethereum, while others also pair with stable coins.
Benefit of using stable-coins
Since some cryptocurrencies can be volatile, stable coins are often linked to the USD. Therefore, their price remains steady, which minimizes the risk while trading fiat currency into other crypto coins and vice versa.
Step 5 - Prepare for the crypto future!
As noted earlier, this guide is all about purchasing Dogecoin (DOGE). Prepare yourself by creating multiple secured accounts on exchanges. This way, you'll be prepared for the future when you want to buy new digital assets that aren't listed on the platform you're using.
Top 5 - Help yourself
List of exchanges including our TOP 5 to get Dogecoin (DOGE) or other alt-coins. Most of these exchanges have large trading volumes.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, the technology behind it, and the team supporting it. Before investing in any coin, it’s smart to conduct thorough research on the coin, its technology, and its team.
DCA - Dollar Cost Averaging Strategy
Dollar Cost Averaging is a well-known strategy in the investment and crypto world. It's a tactic where you get a systematic amount of a coin or investment you believe in. For example, $100 every month. As you get systematically, it reduces emotional involvement and reduces the risk of a unstable market.
- Invest small amounts
- Less stress about changing markets
- Lower chance of losses as you never get full amounts during peaks
Cons of DCA
- Won't make optimal trades as you don’t invest everything at the bottom
- Takes longer since you don't get rich off one trade
- If you DCA into one investment, you could pick a bad investment that only declines. It’s better to diversify your investments while using DCA.
Explanation Video: DCA Dollar Cost Averaging
