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Have you been wondering where to buy Dogecoin? This cryptocurrency has been making waves in the media, and it doesn’t seem to be going anywhere anytime soon.
Dogecoin entered the market in 2013 and quite became one of the globe’s most steadily growing and stable cryptos out there. In fact, by the beginning of 2014, Dogecoin boasted a market capitalization of over $60 million. By mid-2018, that number skyrocketed to $327 million. This type of capitalization doesn’t occur with many types of cryptos, making it worth keeping an eye on and investing in.
In this guide, we’ll explore and break down what you need to know about where to buy Dogecoin, what makes Dogecoin worthwhile, and everything in between. If you’ve been wondering, “Where can I buy Dogecoin?” you’re certainly not alone. This guide will explore what exactly Dogecoin is, its history, and where you can buy Dogecoin in different areas of the world.
Bybit, a prominent cryptocurrency derivatives exchange, provides both spot and futures trading options. The platform features competitive trading fees, with 0.10% maker and taker fees for spot trading pairs, and 0.01% and 0.06% for derivatives contracts, respectively. These fees can be further lowered by becoming a VIP member.
As a well-known crypto derivatives exchange, Bybit offers an extensive selection of several hundred perpetual and quarterly futures trading contracts. However, it is not accessible to users in the United States. Additionally, Bybit's earn platform enables users to gain interest in their cryptocurrency holdings.
Dogecoin trading on Bybit is available in three contract types: USDT Perpetual, Inverse Perpetual, and Inverse Futures. The platform also offers a live price index for Dogecoin, featuring market cap and chart data. Furthermore, Bybit's Dogecoin futures contract allows for up to 100x leverage.
Huobi Global, a prominent cryptocurrency exchange, facilitates DOGE trading across both spot and futures markets. The platform charges spot trading fees of 0.2% for both makers and takers, while futures trading fees are 0.02% for makers and 0.03% for takers. Among the several DOGE trading pairs available are DOGE/BTC, DOGE/USDT, DOGE/ETH, and DOGE/HUSD. Additionally, Huobi Global provides DOGE futures contracts with leverage of up to 20x.
Moreover, Huobi Global presents a DOGE staking opportunity where users can stake DOGE to earn rewards in the same currency. The staking period spans seven days, with a minimum individual staking requirement of 1 DOGE and a maximum limit of 10,000 DOGE. The overall staking limit is capped at 5,000,000 DOGE, and the estimated annual percentage yield (APY) is 20%. Users can expect to receive staking rewards in DOGE in their exchange account within seven working days after the activity concludes.
Your capital is at risk. Up to 75.93% of the broker’s non-professional clients incur losses when trading CFDs.
IC Markets, a regulated forex CFD broker based in Australia, provides exceptional online trading solutions via its cutting-edge platforms for traders of all levels. Contract for Difference (CFD) is a financial instrument enabling traders to speculate on price fluctuations of an asset without owning it directly. Crypto CFDs allow traders to gain exposure to cryptocurrency prices while avoiding security risks related to storage and counterparty risk from exchanges.
Trading DOGE with CFDs offers several advantages, including significant leverage for experienced traders. IC Markets provides up to 20:1 leverage for crypto CFDs, allowing traders to potentially increase their profits. Additionally, traders can go long or short without holding the cryptocurrency, enabling them to profit from both rising and falling prices.
IC Markets also features over 2000 CFD contracts on stocks, Forex, and indices, with leverage up to 1:200. The platform boasts low CFD trading fees, tight spreads, and reasonable commissions. Its competitive pricing and scalable execution make IC Markets an ideal choice for algorithmic traders. Furthermore, the platform supports social copy-trading services like Myfxbook and ZuluTrade, appealing to retail forex and CFD traders.
KuCoin is a centralized digital currency exchange supporting over 650 crypto assets, including Dogecoin. The platform provides spot trading, futures trading, and various investment products such as derivatives, margin trading, staking, lending, automated trading bots, and mining pools.
Spot trading fees on KuCoin are determined using the base currency of a trading pair. For instance, fees for KCS/BTC, KCS/ETH, KCS/DOGE and KCS/USDT pairs are calculated using KCS. The standard spot trading fee for Class A cryptocurrencies is 0.1% for both market makers and takers. For Class B and Class C cryptocurrencies, the standard spot trading fee is 0.16% and 0.24% for both market makers and takers, respectively.
KuCoin features over 1,500 spot markets and supports more than 700 cryptocurrencies, including numerous Dogecoin pairs such as DOGE/BTC, DOGE/USDT, DOGE/KCS, and DOGE/PAX. Regarding futures trading, KuCoin offers various futures contracts, including BTC, ETH, EOS, XRP, and LTC perpetual contracts.
Trading fees for futures contracts on KuCoin range from 0.02% to 0.04%, while taker fees range from 0.04% to 0.06%. KuCoin also provides staking options for different cryptocurrencies.
Binance US is a cryptocurrency exchange offering over 150 cryptocurrencies, including Dogecoin (DOGE). The platform allows users to buy, sell, and trade DOGE through spot trading, which facilitates immediate cryptocurrency delivery.
Although Binance US does not provide futures contracts for DOGE, it enables users to earn rewards by staking the cryptocurrency. Staking involves holding a digital asset to support the network and receive rewards, which vary depending on the amount of DOGE staked and the staking duration.
As a suitable option for purchasing DOGE in the US, Binance US boasts low trading fees and a wide range of cryptocurrencies. The exchange offers basic verification, permitting traders to deposit and withdraw US dollars via bank transfers and debit cards. Committed to user protection, Binance US implements stringent protocols and state-of-the-art technical measures.
The trading fee for Dogecoin on Binance US is 0.1% for spot trading, while fees for buying and selling cryptocurrencies stand at 0.5%. The precise fee amount for trading Dogecoin on the platform depends on the trading volume and the user's VIP level.
Binance US features a VIP program with varying levels based on the user's trading volume and Binance Coin (BNB) balance, where higher VIP levels correspond to lower trading fees. The staking reward percentage can reach up to 9.50%.
How to Buy Dogecoin (DOGE) in 4 Steps
Here is a more detailed step-by-step guide on how to buy Dogecoin (DOGE):
1. Choose a Dogecoin Wallet
To store your DOGE securely, select a wallet that best suits your needs. You can opt for a hardware wallet like Ledger or Trezor, which offers strong security, or a software wallet like Exodus or Atomic Wallet, which provides convenience and accessibility. It is essential to back up your wallet's private keys and ensure that your device is up-to-date and protected from malware.
2. Find a Suitable Dogecoin Exchange
Research and choose a reputable cryptocurrency exchange that supports DOGE trading. Popular exchanges include Bybit, Huobi Global, and Binance. Compare their fees, trading pairs, and available services to find the one that meets your requirements.
3. Register and Complete Your Account Verification
Sign up for an account on your chosen exchange by providing your email address and creating a strong password. Most exchanges require users to complete a Know Your Customer (KYC) process, which involves submitting personal information such as your full name, address, and a government-issued identification document.
For additional security, enable 2FA on your exchange account. This will require you to provide a second form of authentication, such as a code generated by a mobile app like Google Authenticator, each time you log in or perform sensitive actions.
4. Deposit Funds and Buy Dogecoin
After your account is verified, deposit funds into your exchange account using a bank transfer, credit/debit card, or by transferring cryptocurrency from another wallet. Keep in mind that each method may have different fees and processing times.
Navigate to the exchange's trading or purchase platform and search for Dogecoin or enter its ticker symbol: DOGE. Choose your trade type (e.g., market order or limit order) and input either the dollar amount you want to invest or the specific number of DOGE you want to buy. Review the transaction details, including fees and total cost, and confirm your purchase.
Dogecoin Price Predictions 2024, 2025, 2030
Traders Union, a reputable financial platform, features Dogecoin price predictions for 2023, 2025, and 2030 on our website. These predictions are generated through our custom price analysis model, which incorporates various factors such as historical data, market trends, and technical indicators. By analyzing this data, our model aims to offer a comprehensive outlook on Dogecoin's potential future performance. We help investors make more informed decisions about their cryptocurrency investments.
Dogecoin is a type of cryptocurrency. Like all types of crypto, Dogecoin runs via the blockchain. Blockchain can be briefly described as a digital decentralized ledger. This means that each owner of Dogecoin is responsible for maintaining the legitimacy and accuracy of the ledger, putting control into the hands of people who actually own the cryptocurrency, rather than a bank or additional centralized entity. As a result, cryptocurrency is widely considered to be very secure.
Each holder of Dogecoin has a copy of the overall blockchain ledger. This ledger is constantly being updated with new transactions and changes to different accounts. Cryptography is used to secure each transaction.
In order to produce Dogecoin and other types of cryptocurrency, individuals known as “miners” z. The motivation for taking on a miner role involves earning Dogecoin, which can be easily kept or sold via the market.
So what makes Dogecoin different from other types of competing cryptocurrencies? To start, Dogecoin was originally created as a way to make fun of Bitcoin. Other cryptocurrencies, or at least most of them, were created with clear monetary goals in mind. Just as well, Dogecoin is a lot easier to mine and take less power to do so, making it a more environmentally-friendly alternative to many other types of crypto. Dogecoin has also exploded in popularity in the last year or so, which could result in long-term growth.
There are quite a few pros to buying Dogecoin in addition to the ones we’ve mentioned thus far. Day trading Dogecoin is quite profitable in general. Just as well, Dogecoin has a substantial reach of social media and continues to pull in interest and new investors of all background on a regular basis. Trade volumes have been soaring for a while and many different market exchanges and apps have started listing Dogecoin for ease of use.
Unfortunately, as with any type of cryptocurrency, there are some downfalls to Dogecoin. While Dogecoin can be used to purchase things online, its store of value is not exactly great. This comes down to the fact that Dogecoin does not have a cap on the total volume of Dogecoins that can be generated via mining. As a result, Dogecoin can be prone to inflation. Since Dogecoin rewards miners for generating new Dogecoins every day, it is very difficult for speculative price increases to remain stable in the long-term.
Still, Dogecoin is absolutely worth investing in. But how exactly did this type of cryptocurrency come to be? Believe it or not, Dogecoin started out as a cheeky internet joke.
Dogecoin History
Dogecoin was created by Jackson Palmer and Billy Marcus back in 2014. The coin has unique branding that originally started as a joke, based on an internet meme of a Shiba Inu breed dog with a comical misspelling of “dog” as “doge.” According to its creators, Dogecoin was merely an attempt to tease Bitcoin. It’s likely that the pair had no clue that Dogecoin would become a massive success.
In fact, funds raised by the growth of Dogecoin sponsored both a bobsleigh team in the 2014 Olympics, as well as a NASCAR driver.
Dogecoin really saw mainstream popularity in 2023. Users on the popular Reddit forum WallStreet Bets became obsessed with the cryptocurrency. Just as well, in 2023 alone, the cryp gained a whopping 5000% increase in value. Even major figureheads in the tech world, such as SpaceX founder Elon Musk, discussed Dogecoin openly and furthered its infamy.
Dogecoin Profile
Ticket
DOGE
Max supply
N/A
Total supply
130,063,646,536
1-year price low
$0.0074524
1-year price high
$0.68144
Current Price
$0.16
Market cap
$0
Markets
Binance, Huobi Global, Coinbase
Top 3 Best Strategies to Trade Dogecoin (DOGE)
When trading any type of cryptocurrency, it’s always a good idea to have a strategy in place for maximum success. In general, there are three very lucrative strategies for trading Dogecoin. These include buying and holding, swing trading, and day trading.
Buy Dogecoin and Hold
Buying and holding Dogecoin is hands down the best strategy for all types of traders, especially beginners.
Essentially, this strategy involves purchasing Dogecoin and leaving it alone.
There are a number of pros to buying and holding Dogecoin as a first-time or established trader. It is an overall less emotional process. Just as well, you don’t really need any trading skills for this strategy-- you simply need to know how to buy Dogecoin and leave it alone, and ultimately how to sell it. There’s no need to constantly monitor the position your Dogecoin is in. You purchase your Dogecoin and let it sit for a long amount of time before selling.
Like any strategy, this one has a few downsides. There’s a strong likelihood of capital drawdown and the chance of lower profitability than with active trading.
Dogecoin Swing Trading
Swing trading is ideal for individuals who want to combine trading with their work. Swing trading involves taking trades that only last a few days to a few months for the purpose of profiting from a potential price
There are many pros to swing trading Dogecoin. It can be an excellent long-term strategy and offers lower intensity than other strategies due to the lower frequency of overall trades. Just as well, swing trading can be a good option if you want to trade full time but want to start small.
There are a few downsides to swing trading Dogecoin as well. There’s always the chance of an overnight risk because you are holding your positions for much longer than, say, day traders. There will be overnight swap fees to consider. Just as well, the price gaps and process of timing the market swings can be difficult.
Dogecoin Day Trading
Day trading Dogecoin is a potential option for individuals who want to devote themselves completely to trading as a possible career path.
Day trading is simply the process of speculating, monitoring, and trading cryptocurrency within the span of a day. Day traders will usually buy and sell crypto in a few hours or less and aim to profit from short-term price changes.
Day trading Dogecoin does have its advantages. The crypto market is open 24/7, which has its own benefits. Volatility is very common, too. The crypto market is largely unregulated, which is quite beneficial when you compare trading crypto to trading stock via the stock market, which is heavily regulated.
As is the nature of day trading as a career, there are a few major downsides to this strategy. There’s the issue of notoriety via news and social media when it comes to Dogecoin, which can negatively or positively influence its price changes in the span of a few minutes. Namely, it’s an unpredictable strategy with slippage issues.
Should You Buy Dogecoin in 2024?
Dogecoin has a ton of opportunities in 2023 for traders and buyers. The crypto industry is going to steadily improve and grow in the coming years, meaning more attention may be put on Dogecoin in the long term. Just as well, the project is currently really active and has been prospected as very good and lucrative by tech giants like Elon Musk.
There are some risks that come with buying Dogecoin. They are really not so different than other cryptocurrencies out there today - they are simply famous for celebrity endorsements and the meme-worthy nature of the currency itself. In addition to this, Dogecoin is highly volatile and risky, particularly for new investors.
How to buy Dogecoin (DOGE): 3-Step Algorithm
If you’ve never purchased cryptocurrency before, you might still be scratching your head thus far in this guide. Don’t worry - we understand how complicated and complex crypto can be. Keep reading to learn how to purchase cryptocurrencies like Dogecoin in just three simple steps. These steps can be applied to popular trading platforms like Webull or Binance, but we’ve used Webull as an example.
To start, open the Webull app or website and set up an account. You’ll need to enter your bank information, phone, and driver’s license information. Webull will walk you through the rest of the steps of signing up easily.
Account Funding on Webull
Be sure to select a Cash account and to apply for Crypto Trading. It will take under one to two days to be approved to buy and trade crypto.
Market Analysis
Market Analysis on Webull
Before you begin the process of buying Dogecoin, you should take a look at how the market is doing at the time of purchase. If Dogecoin is particularly high, it might be worth waiting for it to go down a bit before making a purchase. Webull features market analytics so your analysis can be simple and quick.
Funding Account
From your account approval, you will need to fund your account by depositing the amount of money you’d prefer into your Webull account from your bank. You will need your social security number to do so. The amount of Dogecoin you’d like to purchase is up to you.
Buying Dogecoin (DOGE)
Once you’ve funded your account, simply search for DOGECOIN to access the correct trading page. For beginning traders, we recommend only purchasing as much Dogecoin as you are alright with losing, as this meme crypto can be quite volatile. From here, you can execute your trade under the DOGE ticker after entering the quantity of DOGE you’d like to purchase. Hit the BUY button, and your order will show up in your account immediately. Congratulations, you’ve just bought your first Dogecoin!
Dogecoin (DOGE) Performance
While Dogecoin can be volatile, leaving many investors and prospective traders wary of buying them, the popularity of this coin is steadily growing. Dogecoin has excellent performance, even though it does remain fairly volatile.
This is where Dogecoin was at in August of 2020, according to CoinMarketCap.com.
DOGE Performance on 2020l
And this is where Dogecoin is at in August of 2023.
DOGE Performance on 2023
Top 10 Best Cryptocurrencies to Invest in
Not sure if Dogecoin is right for you? If so, there are plenty of other cryptocurrencies out there that you can invest them, though not all of them are equally as lucrative. Our experts put together a list of the best cryptocurrencies for investment based on their performance, technology use, and investor popularity. These include the following along with their industries:
If you plan on trading dogecoin, your best bet would be to buy and hold. The best places to purchase and trade dogecoin online include website and apps like Webull, Binance, Robinhood, Huobi Global, and Kraken. You have the option of swing trading or day trading, but in general, we recommend hanging onto your dogecoin, as it is extremely volatile as a cryptocurrency. To the moon!
FAQs
What platforms can I sell Dogecoin?
There are many platforms where you can sell Dogecoin, including cryptocurrency exchanges and trading platforms. Some popular options include Binance, Coinbase, Kraken, and Robinhood.
Where is the best place to sell Dogecoin?
The best place to sell Dogecoin depends on your personal preferences and needs. Factors to consider include the fees charged by the platform, the ease of use, and the availability of trading pairs. It is recommended to do your own research and compare different platforms to find the one that is best for you.
Which trading platform is best for Dogecoin?
Again, the best trading platform for Dogecoin depends on your individual needs and preferences. Some popular platforms for trading Dogecoin include Binance, Kraken, and Robinhood. It is recommended to compare different platforms and read reviews before choosing one.
How do I sell Dogecoin?
To sell Dogecoin, you typically need to follow these steps: сhoose a trading platform that supports Dogecoin, register for an account with the platform and verify your identity, deposit Dogecoin into your account, place a sell order for Dogecoin on the platform.
Is trading Dogecoin worth it?
If you adhere to the “buy and hold” or swing trading strategy, Dogecoin can definitely be worth trading. Things get a little more difficult when you consider day trading, as that strategy involves a full-day career in trading, which can be stressful and unsuccessful.
How can I sell Dogecoin?
For most trading platforms, you can sell your Dogecoin directly through the app and withdraw the funds into your bank account. Crypto ATMs are becoming a new standard and will likely explode in popularity in the next few years. These ATMs make it possible to withdraw cash from your Dogecoin via a simple ATM, which isn’t that different from traditional ATMs.
How does Dogecoin work?
Dogecoin works similarly to Litecoin, since it can be mined and it used blockchain technology to track changes. Dogecoin also does not have a cap or limit on the amount of Dogecoins that can be created.
What is Dogecoin worth now?
At the time of writing, Dogecoin is currently worth $0.1992. However, the cost of Dogecoin is constantly changing.
How was our guide to finding the best platforms to buy Dogecoin? Tell us which platform you use in the comments section below.
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
