Dogecoin, the open-source peer-to-peer internet currency. Besides the immense success of Bitcoin, Altcoins (alternative of bitcoin) are considered a more secure alternative. Though, many of the altcoins claim to be superior to bitcoin. Among the broad range of altcoin options, Dogecoin is widely famous for its amazing meme reference and handy functioning. This took us to the main point of this article- Ways to buy Dogecoin. Let’s begin!
Summary
- Dogecoin, a lighthearted cryptocurrecy is an alternative option (Altcoins) to the conventional- Bitcoin.
- Moreover, it is utilized for peer-to-peer transactions across the decentralized network.
- Dogecoin was founded in 2013 and is favored by Shiba Inus worldwide.
- Promoted as the fun and friendly digital currency, especially based on its origin from a meme over the social media.
- You can buy Dogecoin through many ways including the 7 listed in the article below.
What is Dogecoin?
We are familiar with the broad concept of Altcoins, made as an alternative to Bitcoin. Dogecoin belongs to the category of Altcoins and is also remarkably popular. The origin of Dogecoin is from a very famous and funny meme over social media back in 2013, from where the idea of the Shiba Inu logo came in! Dogecoins are way different from Bitcoin because of their abundant quantity, i.e., 131 Billion present circulating supply. And that’s not it! Over 10,000 of these are produced every minute. Sounds mind-blowing, right? That’s the enchantment of Dogecoin.
The popularity of Dogecoin has always been heightened and is maintained by the frequent mention by Elon Musk on his Twitter account.
Now as we covered the introduction of Dogecoin, it’s time to move forward to how to buy it!
Buy Dogecoin from Binance
Binance is known to be one of the best platforms to buy, trade, sell and hold Dogecoin. To know more read our Binance Review.
Here’s the step to follow:
- Buy Dogecoin with a card – You can purchase Dogecoin through a credit card on a Binance crypto account.
- Deposit Fiat & Trade Dogecoin – You can add up an extra cash balance into your Binance account using a Fiat deposit.
- Buy and Sell Dogecoin – For the smooth run, download the Binance Crypto trading application and trade up to 150 cryptocurrencies.
Buy Dogecoin with Kraken
Follow these steps to complete the signing for your account:
- Sign up for a Kraken – Create or sign in to your Kraken account by putting your email address and setting a strong password.
- Verify account – After filling in the required details, you can buy Dogecoin with USDT and BTC. Verify your account by providing the necessary details.
- Deposit Fiat currency: Deposit some amount of money as Fiat currency to your Kraken account.
- Buy Dogecoin – As your account is well funded and complete now, start your journey by purchasing Dogecoin.
To know more, read our Kraken review.
Buy Dogecoin on PayPal
- In order to transfer PayPal to Dogecoin, you need to create an account on Paypal and verify your account.
- The you can vist exchange platform’s Official website. Where you can easily convert the PayPal USD to Dogecoin.
- Thereafter, select a exchanger, and proceed to the website.
- Then, you select Paypal USD in give section and Dogecoin in recieve section.
- Finally, you specify the amount you want to exchange. The most favorable rate of the Exchange platform will be at the highest position on the list.
Buy Dogecoin Peer-to-Peer
- Buy Bitcoins in any possible currency from LocalBitcoins or any other peer-to-peer Bitcoin exchange.
- Now as you have Bitcoin in your wallet, you can trade it for Dogecoin through an exchange platform like CoinDCX, CoinSwitch Kuber, etc.
- Make sure you cover all the reviews before proceeding with the exchange. Fix the amount you want to exchange, then proceed with trading Dogecoin for Bitcoin.
Get Dogecoin on a DEX
There are various exchange platforms that help you convert 1inch to Dogecoin. In order to get Dogecoin on 1inch, you need to follow few steps:
- Select coin: Select the coin that you would want to change and specify the amount.
- Select Crypto: Now, choose the crypto you want to buy.
- Select the amount: Enter the amount of Dogecoin you wish to buy.
- Connect a wallet such as Metamask or Binance Smart chain wallet.
- Process the exchange, and you’ll recieve Dogecoin in your wallet.
Note: You must previously own some amount of ETH or some other asset before proceeding with this step.
Buy Dogecoin on Voyager
- Install the mobile application: Download the mobile application of Voyager from Google Playstore or Apple App Store.
- Create a trading account: Create an account on Voyager for trading by filling in the required information.
- Link bank account: In order to move forward, link your bank account by navigating to the user icon.
- Add Funds: On your account page, click “Transfer Cash or Crypto” & “Deposit to Voyager Account” after which select USD. Add the amount you want to fund and slide the “Slide to Deposit USD” option.
- Buy Dogecoin: Now, you are all set to purchase Dogecoin. Move to the Dogecoin page and buy Dogecoin anytime.
Buy Dogecoin with SwapSpace
- Select a pair and its best rate: The best possible way to buy Dogecoin with SwapSpace is to buy through Ethereum. You have to select the option of ETH to Dogecoin on the homepage of Swapspace. Then, enter the amount you want to exchange. Tap “View offers” and pick up the best rates in the crypto exchange service.
- Recipient address: Now, add Dogecoin wallet address. Make sure you enter the right details of your wallet.
- Transfer funds: Transfer the amount of ETH you want to provide address and receive the Dogecoin in your wallet within a few minutes.
- Wait until the exchange proceeds: You will receive the Dogecoin in your wallet within a few minutes.
Payment methods for buying Dogecoin
When it comes to various ways to buy Dogecoin, you get many options for payment. You can choose the right and most appropriate method of payment to get started with it. Through these methods, you can handily buy, sell or hold your Dogecoin in your crypto exchange wallet. These are:
- Credit card,
- Debit card,
- Bank Transfer
Why should you buy Dogecoin?
Dogecoin came out of a meme in 2013 and has been wildly popular ever since. The price of Dogecoin has fallen by over 40% recently and this seems, a pretty good time to invest in Dogecoin. The only flex that comes with it is that Dogecoin can achieve cost resilience. The reason for this is because of the enhanced number of holders in comparison to the traders. In the eyes of investors, Dogecoin does not have an appealing proposition. It certainly lacks the competitive advantage values which make it more of a joke among the cryptocurrencies.
Besides this, Dogecoin hasn’t been updated since 2015 from its v1.10. In the market where there is a wide range of cryptocurrencies with advanced features and value, Dogecoin surely lags behind the race.
Moreover, Dogecoin is also extensively being used by philanthropists. As people tend to donate Dogecoin to organizations and social causes. That’s why most of its followers keep stabilizing the crypto in the market.
Conclusion
Dogecoin is one of those coins which wasn’t even worth a dollar a few years back, but now it has made multiple value progress. Alongside, it has thrived on social media platforms like Twitter and Reddit. Established in 2013, Dogecoin has made huge progress. With the above-mentioned ways to buy dogecoin, you will get a brief idea of which platform to prefer. Being an altcoin, Dogecoin has many advantages but one needs to be careful before getting started with it!
Frequently Asked Questions
What does “decentralized” mean?
Dogecoin isn’t supervised by any company or individual. In fact, it operates on the rules made by the consensus instead of any founding community or commodity.
How to convert Bitcoin into Dogecoin?
For converting Bitcoins into Dogecoin, you can use Bitpanda or Binance for their better functionality.
Who operates Dogecoin?
Dogecoin isn’t owned by any individual or company. The developers bring out new software and the community (miners, exchangers, end-users, etc) decides on whether to use it or not. So basically, it isn’t operated under any Supreme management.
