Where to Buy Dogecoin

So, you’re interested in getting into crypto. You’ve heard all of the success stories – people making millions of dollars as the prices of cryptocurrencies like Bitcoin go through the roof. Or perhaps you have friends who make a steady income by mining cryptocurrency.

Dogecoin is a well-established cryptocurrency. You can get Dogecoins by mining them. But if you are interested in getting into crypto, you probably want to know where to buy Dogecoin.

Here we’ll take a closer look at how Dogecoin works and how you can get your hands on a few Dogecoins yourself.

What is Dogecoin?

Dogecoin is a cryptocurrency***. It is a form of digital money that can be used for peer-to-peer transactions across a decentralized network. Dogecoin transactions travel directly from person to person over the internet. These crypto transactions do not pass through a centralized middleman, like a bank.

Although Dogecoin was originally founded as a joke, it has become a successful cryptocurrency in its own right. Part of this is due to the strong community surrounding Dogecoin.

Each Dogecoin used to be worth a fraction of a dollar. Over the past couple of years, each coin has dramatically increased in value. Dogecoin is still best suited to hobbyists or users who are interested in peer-to-peer transactions. It is less appealing to investors focused on long-term portfolio growth.

Dogecoin is an unlimited cryptocurrency, which means a limitless supply of Dogecoins can be mined. This makes Dogecoin less valuable as a store-of-value commodity.

3 Steps to Buying Dogecoin

There are several ways to buy Dogecoin. It is important to find a trusted global crypto exchange. Make sure to compare exchange fees and the security features of each exchange.

Get a Dogecoin Wallet

The first step when you are buying Dogecoin is to get a Dogecoin wallet. This is where your newly acquired crypto asset will be safely stored.

There’s no shortage of options when it comes to Dogecoin wallets. There are different types of wallets for you to consider, and each wallet can vary in terms of features, usability, and security.

The first choice you have is choosing between a hardware and a software wallet. 

A hardware wallet is an offline, physical device that stores the private key to your Dogecoin. A hardware wallet is one of the safest wallets available. A hardware wallet does require an initial investment – you need to buy the hardware. Most hardware wallets for sale will support not only Dogecoin but other crypto assets as well.

A software wallet is generally free to use. It will store the private key to your Dogecoin on your device, whether that be a mobile phone, desktop, or laptop computer. A software wallet is considered less safe than a hardware wallet because it might be vulnerable to malware. Make sure to take the necessary precautions and only download official or highly recommended wallets. You can choose a Doge-specific wallet or select a multi-currency wallet.

Once you have your Dogecoin wallet it’s time to get your Dogecoin address. A Dogecoin address is a long string of letters and numbers that starts with a capital D followed by a number or another capital letter.

Find a Doge Exchange

Where to buy Dogecoin? Once you have a Dogecoin wallet, you need to find a Doge Exchange. A cryptocurrency exchange allows you to deposit fiat currency, like Dollars or Euros, and get a cryptocurrency, like Dogecoin, in exchange.

Surprisingly enough, it can be tricky to find a reputable exchange to purchase Dogecoin on. Only a handful of vetted cryptocurrency exchanges offer an option for purchasing Dogecoin with Dollars or Euros. For security reasons, you must do your research on the Doge exchange you choose. Binance, Bitpanda, and Kraken are popular crypto exchanges that do support Dogecoin transactions.

Once you have chosen your crypto exchange, follow all of the instructions on the exchange’s website. Click on Buy Crypto, select Dogecoin, and choose your payment method. 

Withdraw Your Dogecoin

Safely storing cryptocurrency is no laughing matter. No matter how secure the exchange that you chose, it is always sensible to store your cryptocurrency in a wallet rather than on an exchange. This reduces the risk of your cryptocurrency being lost or stolen.

This means that you have to withdraw your Dogecoin from the exchange and transfer it to the Dogecoin wallet that you set up in step 1. 

If you keep your Dogecoins on the exchange, you’ve given up the control of the coins. If the exchange gets hacked or goes bankrupt, you may end up losing your Dogecoin.

Both hardware and a software wallet give you control over the public and private keys required to make crypto transactions. A mobile and web wallet will make transactions easy. Hardware wallets are best suited for secure, long-term storage. Make sure to choose the crypto wallet that best fits your needs.

Dogecoin FAQ

Is Dogecoin on Coinbase?

Unfortunately, if you are trying to decide where to buy Dogecoin, Coinbase is not an option.

As mentioned above, it is surprising that not all reputable exchanges support the exchange of Dogecoin. This may be because Dogecoin started as a joke, but is likely to start changing as Dogecoin’s longevity serves as a proof-of-concept.

Coinbase is one of the most well-known crypto exchanges. It is one of the only publicly traded crypto exchanges in America. It is regulation-friendly and allows users to buy cryptocurrency on Coinbase easily using a linked credit card or bank account.

At the moment, Dogecoin is not available on Coinbase. This may change soon – Dogecoin trading is expected to go live on Coinbase by July 2021. 

Can I Mine Dogecoin?

Yes, you can mine Dogecoin. Dogecoin’s mining blockchain, Scrypt, allows you to mine your blocks. This proof-of-work model allows miners to be rewarded for the work they put into mining Dogecoin. The most profitable way to mine Dogecoin is with ASIC miners.

How Can I Convert Bitcoin to Dogecoin?

Just like you can convert between fiat currency, like converting from Dollars to Euros, you can use crypto exchanges to convert between cryptocurrencies.

You can use crypto exchanges like Binance or Bitpanda to exchange your Bitcoin to Dogecoin.

Read More

• How to Make Money with Cryptocurrency
• How to Withdraw from Binance
• How to Transfer From Coinbase to Coinbase Pro
• How to Transfer from Coinbase to Binance
• How Does Cryptocurrency Gain Value?
• How to Read Crypto Charts

Conclusion

Dogecoin is a well-established cryptocurrency. You can get Dogecoins by mining them. But if you are interested in getting into crypto, you probably want to know where to buy Dogecoin.

Surprisingly, Dogecoin can not be bought at all vetted cryptocurrency exchanges. Coinbase, for example, is a popular crypto exchange that does not currently support Dogecoin. However, Binance, Bitpanda, and Kraken are popular crypto exchanges that do support Dogecoin transactions.

Once you have bought your Dogecoin, you need to transfer it to a wallet. This will keep your crypto asset safe and secure.

Frank Gogol

I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.

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