Dogecoin On Webull. A Complete Guide

How do you buy Dogecoin (DOGE) on Webull?

Webull Review

After gaining approval for crypto trading, you can start buying and selling Dogecoin (DOGE/USD) on Webull. Simply search for Dogecoin and access its quotes page. Below is a step-by-step guide to help you get started.

Step 1. Download the app and register your account

The Webull trading platform is available as a web platform, desktop app, or mobile app. For this tutorial, we’ll be looking at the web version.

Webull makes it easy to open a trading account in just a few steps. When you visit their homepage, simply click the “Get Started” button to begin.

Start registration on Webull

Even without fully opening your account, you can access the trading view and technical analysis charts.

Webull Trading Platform

However, if you want to fund your account and make DOGE trades, you’ll need to click “Open Account” in your account dashboard.

Funding Account on Webull

Before signing up, be aware that you are required to provide some identification documents such as a driver’s license or passport. You must also meet the following criteria to register:

• Be 18 years of age or older.

• Possess a valid Social Security Number (SSN).

• Occupy a legal residential address within the US or US territories.

• Be a US citizen, permanent resident, or hold a valid US visa.

Verification on Webull

After verifying your identity, you’ll be asked what kind of account you’d like to open. There are two options: cash accounts or margin accounts.

Since you cannot use a margin account to trade cryptocurrency, you should choose the cash account option if you’re interested in trading DOGE. Also, don’t forget to tick the box “Apply For Crypto Trading”.

Account Types on Webull

Next, you’ll need to provide some information regarding risk disclosure. First, answer some basic regulatory questions, such as whether you are a politically exposed person (PEP) or connected to a financial institution. Then, fill out a short questionnaire regarding your investment profile – your experience, expectations, and financial means.

After you’ve completed this step, you can sign and submit your application! Most accounts are approved within 1-2 business days or sooner. You’ll receive notification about the status of your application via email.

Submitted account on Webull

Step 2. Fund your Webull account

To fund your account, first make sure that your bank can perform ACH transfers. Then, transfer directly to your Webull account.

Step 3. Determine your entry point

Webull has a wide range of technical analysis tools at your disposal. Please do your own research before using these tools to make any trades. As a general rule, you should never invest money that you can’t afford to lose.

For this tutorial, we’ve selected three of the most frequently used technical indicators to appear on the chart, but there are many more to choose from in the menu.

Trading Indicators on Webull

Another available function is the ability to draw on the charts directly. If you select the pencil icon in the top right, you’ll find an extensive list of drawing tools. Use these tools to place trendlines or notes directly onto the chart.

In the example below, we’ve used the trend channel tool to highlight a chart section.

Technical Analysis on Webull

Technical Analysis on Webull

After completing your technical analysis and feeling confident in your entry position, you can place an order.

Step 4. Buy Dogecoin (DOGE) on Webull

For buying cryptocurrency, Webull offers both market and limit orders. As far as time-in-force (TIF) goes, both day and immediate or cancel (IOC) are available.

Market orders allow you to execute a buy or sell order at the current available price. In the example below, placing a market buy order for 100 DOGE at the current price would cost an estimated $18.68.

Market orders are preferred if you want to make an immediate trade at the current market price. Click open now, and your order will be executed immediately.

Buying DOGE on Webull

Limit orders allow you to buy or sell at a specified price. The order will only be executed once the price reaches your set limit. In the example below, the limit sell order for 100 DOGE will only occur once the price of DOGE reaches $0.20.

Buying DOGE on Webull

What is Dogecoin (DOGE)?

Dogecoin made its debut in December 2013 as an open-source, peer-to-peer digital currency. Initially created as a lighthearted joke, it was inspired by the popular “Doge” meme featuring a Shiba Inu. Despite its humorous beginnings, Dogecoin quickly gained traction on platforms like Twitter and Reddit, experiencing notable spikes in popularity and value over the years.

Key features of Dogecoin:

• Proof-of-work model. Utilizes a proof-of-work consensus mechanism.

• Unlimited supply. Unlike many other cryptocurrencies, there is no cap on the total supply of DOGE.

• High mining rate. New coins are issued at a rapid pace through mining.

• Social media tipping. Frequently used as a tipping currency for rewarding content creators online.

Elon Musk, a well-known proponent of Dogecoin, was humorously voted as the coin’s CEO in a Twitter poll in 2019. Thanks to Musk’s vocal support, Dogecoin witnessed a meteoric rise in 2023, reaching an all-time high of $0.7376. While the broader cryptocurrency market has faced a slowdown since then, Musk’s tweets continue to influence DOGE’s value significantly.

Should you buy Dogecoin (DOGE) on Webull? Webull simplifies crypto trading by consolidating all assets in one platform and providing advanced analytics. While Dogecoin has shown remarkable growth, it remains highly volatile and heavily influenced by public sentiment, especially endorsements from figures like Elon Musk. This unpredictability can lead to substantial gains or losses.

Top 3 reasons to trade DOGE on Webull:

• Trading commission - 0%.

• User-friendly trading platform.

• US-regulated broker.

Reasons to buy DOGE on WeBull

The decision to invest in DOGE is personal — always conduct thorough research and only invest what you can afford to lose, particularly in the cryptocurrency market.

When can I buy Dogecoin on Webull? Trading hours

Whether you’re a night owl or an early riser, you’ll be able to trade Dogecoin around the clock. Unlike the traditional stock market, crypto trading on Webull occurs 24/7. The only off hours are between 5:30 pm – 6:30 pm ET when the platform conducts account settlements and maintenance. Any outstanding orders that are still pending will be canceled at 5:30 ET.

Transferring Dogecoins (DOGE) from Webull

At this time, Webull only supports buying and selling Dogecoin directly on the platform. Transferring DOGE into your Webull account is unsupported.

Top 4 Dogecoin alternatives on Webull

There are several alternatives to Dogecoin available on Webull. Here, we’ve presented the top 4 alternatives as rated by our experts.

Our team considers many factors to develop these ratings, including the underlying technology, practical application, price action, and more. Click on review to learn more about each of these cryptocurrencies.

Conclusion