NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. One more way of buying DOGE is by exchanging it with other forms of crypto in your wallet. For example, if you have Bitcoin or Ethereum, you can exchange them for Dogecoin on exchanges like Uniswap and Kraken. This method can be faster and more cost-effective than buying DOGE with fiat currency.
Decentralized Exchanges
Binance, is a leading cryptocurrency exchange that supports the purchase of over 200 cryptocurrencies. The exchange has been around since 2017, is supported worldwide and allows users to buy Doge with a variety of traditional currencies and payment methods. Also, despite the meme coin status, it is ranked 8th globally in terms of crypto market cap and is currently trading at a 92% discount on its all-time high. However, before you invest, it is advisable to check the volatility at the counter. It is very difficult to predict what price a cryptocurrency will reach, considering the speculative and volatile nature of this type of asset.
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Be aware that purchases with a credit/debit card usually have higher fees than with a bank transfer, but are also processed faster. If Binance doesn’t work out you can always use Kraken as another reputable option. Additionally, DOGE, unlike BTC or ETH, trades at a lower price, making it more accessible to investors interested in trading. And finally, if you want to buy Dogecoin, you can do so via both centralized and decentralized exchanges. • Binance, renowned as the largest exchange by trading volume and AUM, provides deep liquidity and a variety of products including derivatives and NFTs. The exchange even has a blockchain that is just as popular as the global exchange and hosts many popular DApps.
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- Kraken also employs a bug bounty program that utilizes the expertise of the crypto community to find vulnerabilities in software.
- Whichever platform you choose, consider transferring your coins off of the app.
- Finder.com compares a wide range of products, providers and services but we don’t provide information on all available products, providers or services.
- The exchange even has a blockchain that is just as popular as the global exchange and hosts many popular DApps.
You’ll go to your holdings on your crypto exchange or brokerage platform and enter the amount you’d like to sell. You can choose to store your Dogecoin in a hot wallet or a cold wallet outside of your exchange. Hot wallets are digital and connected to the internet whereas cold wallets are physical hardware that you can disconnect, making them much less susceptible to hacking. While this cryptocurrency doesn’t have any significant advantage over other coins, the adoption it mustered throughout the years makes it seem like it’s here to stay.
Can you make money with Dogecoin?
Typically, you get instant access to a portion of the money of your deposit for trading. If you deposited a large amount of money—typically more than $1,000—you may have to wait a few days for the transfer to clear before you can use the entire deposit. Every dog has its day, and in the world of cryptocurrencies the luckiest dog today is Dogecoin (DOGE). Recently Elon Musk has replaced the Twitter logo with the official Dogecoin mascot, a Shiba Inu dog. Good question, but the move has propelled the original memecoin back into the list of the top ten cryptocurrencies.
• OKX focuses on customer-centric features, offering NFTs, APIs, and a proprietary blockchain for reduced transaction fees. The platform even has earning features for those that would like to put their idle assets to work. OKX has both online and offline security measures to protect customers. The exchange also maintains an OKX Risk Shield and an Expiry Insurance Fund for further security of the platform and its users.
Investment rules of thumb say risky assets like these should make up no more than 10% of your investment portfolio. Similar to other digital currencies, Dogecoin operates on a blockchain network and is secured by cryptography. A promising feature is its fast transaction speed with low transaction fees, which makes it attractive for micro-transactions.
Uphold is a New York-based platform that offers trading for cryptocurrencies including Dogecoin, commodities, equities and fiat currencies. This can be a passive way to earn rewards, but it may require a minimum balance and may be subject to fees or other restrictions. Yes, you can directly buy Dogecoin from various cryptocurrency exchanges or platforms that support Dogecoin trading. Just make sure to do your research and choose a reputable and secure platform to make your purchase. Storing Dogecoin on a cryptocurrency exchange is easy but requires trust in the exchange’s security.
Some exchanges require no minimum deposit at all, while others may require a deposit of at least $10, $50, or even $100 or more. The deposit amount may also depend on the payment method you are using. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Before using a card to finance how do blue rhino vs amerigas tank prices compare your crypto purchases, keep in mind that your credit card company will consider the money to be a cash advance and charge added fees and a higher APR. That’s why experts generally encourage people to avoid buying crypto this way. Dogecoin is a digital currency introduced in 2013 as a more memorable and fun alternative to other cryptocurrencies.
It remains unregulated and can be traded on a compatible exchange. However, despite being legal, it continues to be a volatile and highly speculative asset. To buy Dogecoin in the U.S., you might want to consider Binance U.S. or the Coinbase exchange. Once done, you can make fiat or crypto deposits to purchase DOGE or convert any of your existing holdings to DOGE. If you want to buy DOGE, you will also need to choose a place to store it. The DOGE ecosystem opens doors to a wide range of wallets, including MyDoge — a wallet with built-in two-factor authentication, a tipping bot, and more.
All offer decent liquidity, collectively possess a widespread international presence, and prioritize customer protection and security features. While cryptocurrency transactions inherently carry risks, relying on these reputable choices is a sound decision. Of course, be sure to be prudent during any interaction with decentralized ecosystems.
Traders on Gemini can make instant purchases using a bank card, or deposit fiat currency using wire transfers or ACH. Changelly is one of the few places that will allow you to buy Dogecoin with almost any currency (fiat or crypto). Changelly is a conversion service that works relatively quick and doesn’t require anything more than an email to https://cryptolisting.org/ sign up. The downside is that it can take up a lot in fees (especially if you buy Doge with your credit card). Kraken, Founded in 2011, the US exchange allows you to deposit funds via a credit card or a wire transfer. Once the funds are in your account you can easily buy Doge using the “Buy Crypto” tab in the exchange’s top navigation bar.
This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed. A number of smaller cryptocurrency exchanges, Exrates, YoBit, and Livecoin, all have DOGE/USD pairs. LiteBit.eu and Bittylicious and Cryptomate offer brokerage services for Dogecoin via EUR or GBP. Bittrex is a US based cryptocurrency exchange that has grown in popularity in recent years. This means that you will need to either buy Bitcoin or deposit Bitcoin in order to exchange it for Doge.
While there are viral stories of people who invested trivial amounts in DOGE but are now millionaires, invest with caution. Cryptocurrencies are very risky investments, and Dogecoin is uniquely volatile because it has an unlimited supply. Sarah is an expert in the insurance, investing for retirement and cryptocurrency space. Dogecoin is not a scam, but it is considered by many to be a bubble. Its value comes from user adoption and utility, but investing in it should be approached with caution due to its volatile nature.