The 6 Best Places to Buy Dogecoin in 2024
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The 6 Best Places to Buy Dogecoin in 2024:
In this article, we’ll introduce you to the Dogecoin cryptocurrency and explore the top 6 platforms through which to buy Dogecoin. We’ll cover the pros and cons of each site, explain the key features and look at fees, storage and functionality. This should enable you to make an informed choice as to the best platform for buying Dogecoin, to fit your personal needs.
Where Is the Best Place to Buy Dogecoin?
There are many platforms from which to buy Dogecoin online. We’ll now introduce our top 7 options – to determine the best place to buy Dogecoin.
1. eToro
Pros
FCA regulated
Easy-to-use interface
Copy trading available
Cons
Altcoin selection is limited
Additional exchange fees (for non-US traders)
Live chat customer support is not available to all (need a deposit)
eToro is a platform suited to both beginners and experienced traders. A copy trading function and risk management tools are useful additions, alongside analytics tools and social trading features. A demo account option ensures beginner traders can become accustomed to the interface before placing live trades.
The interface is simple to use and there are both web and mobile app options. The range of assets available to trade is wide, with over 3,000 instruments on offer.
It is free to open an account with eToro. The platform has an £8 minimum deposit, along with a 1% trading fee. The withdrawal fee is £4. The eToro Money app offers reduced foreign exchange costs.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
2. Pepperstone
Pros
No need for a digital wallet
Fast trade execution
Well-regulated
Good customer service hours
Cons
Standard account currencies only available in GBP, USD, EUR and CHF
Pepperstone is a global forex and cryptocurrency CFD broker, regulated by the FCA and many other regulators across the world. The platform offers fast execution of trades (with no dealing desk intervention) and a 99.9% fill rate. Leverage of up to 2:1 is offered.
The customer service provision by Pepperstone is very supportive, with operatives available 24 hours a day Monday to Friday and 18 hours a day over the weekend. This helps give peace of mind that any issues can be resolved rapidly.
With Pepperstone there is also no need for a separate digital wallet to store your crypto assets. There are also no additional fees on deposits or withdrawals.
3. Gemini
Pros
Good for earning interest
Rapid trading
Well regulated
Cons
Only around 100 cryptocurrencies available, less than other platforms
Fees for trading can be high
Gemini prides itself on being a simple and secure platform for cryptocurrency. Sign-up is easy and can be done in three minutes, with a valid identity document.
With tools for both beginners and experienced traders, Gemini is a solid choice. Its crypto trading platform, ActiveTrader, has multiple order types and execution options.
The platform does, however, have fairly high trading fees, particularly for small amounts of currency.
The Gemini wallet can be used to keep all of your assets secure and protected and the platform supports the UK’s Take Five to Stop Fraud Charter.
Gemini also has a well-regarded NFT marketplace, called Nifty Gateway, for diversifying your trading.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
4. Kraken
Pros
Low minimum deposit
Easy to interact with the interface
Cons
Cost for bank withdrawals
Need Kraken Pro to access the lowest fees
With Kraken, you can trade over 185 different assets with just $10 in your trading account. When trading there is a 1.5% trading fee plus a spread.
Users must pay between £1.95 and £35 for bank withdrawals, depending on the withdrawal method. There is a variable withdrawal fee for cryptocurrency.
Kraken is a good choice for both experienced traders and beginners, thanks to its easy-to-navigate interface. There are also two versions of the platform – Kraken and Kraken Pro. To access the lowest fees, however, you must be a Kraken Pro account holder.
Kraken also supports spot trading and cryptocurrency futures, which many platforms do not yet do.
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 minutes to learn more.
5. Binance
Pros
150 cryptocurrencies available in the US
Variety of order types
Fairly low fees
Cons
More complex interface
No built-in digital wallet for storage
Issues with regulation in certain countries
Binance is a platform worth considering, as it has appealingly low fees – a 0.02 – 0.10% trader fee and a 0.04 – 0.10% maker fee. FDA-regulated, it offers over 350 currencies internationally and 150 currencies in the US.
There is no minimum deposit for cryptocurrencies on Binance, but there is a 1.8% withdrawal fee for bank transfers and cryptocurrency withdrawals come with variable fees.
Binance does, however, have a more complex interface than other platforms, so may not be suitable for beginners setting out on their trading journey with Dogecoin. It offers advanced trading and analytics features for experienced traders.
Trading cryptocurrencies involves significant risk and can result in the loss of your capital. You should not invest more than you can afford to lose and you should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 81.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
6. Crypto.com
Pros
High security standards
Strong regulatory compliance
Wide range of currencies available for diversifying
Cons
Low Trustpilot score – review suggest poor customer service and raise issues with withdrawals and accounts becoming locked
Crypto.com was founded in 2016 and now has over 80m users. The platform features 200+ cryptocurrencies, one of which is Dogecoin. It prides itself on high security and compliance standards, which means it is considered a safe platform to use for investments. It offers comprehensive insurance coverage and verified proof of reserves.
Low fees are available to those who make purchases with a bank card or transfer. Sometimes 0% fee trades are offered and sales offer crypto discounts.
Features such as price alerts can assist you in tracking the price of Dogecoin, whilst you are also able to set up purchases to occur on recurring schedules. The platform offers a Crypto.com Visa card, providing 5% back on all spending.
What Is Dogecoin?
Dogecoin is a peer-to-peer and open-source cryptocurrency. It was created in 2013 by software engineers Jackson Palmer and Billy Markus, as a parody of Bitcoin.
Over the last decade, it has become one of the most popular cryptocurrencies as it is faster to access and has more affordable transaction costs than many others, making it easy to send and receive. For example, Dogecoin has a one-minute block time for transactions, whereas Bitcoin transactions require 10 minutes.
Dogecoin blockchain employs a proof of work protocol. This ensures the validity of the currency as a new block of transactions can only be added by a Dogecoin miner if all the network mining nodes agree that the block is valid. Miners earn 10,000 DOGE per block.
Dogecoin has no maximum supply, unlike Bitcoin and other cryptocurrencies. This means that it isn’t a good store of value, as an infinite number of coins can be created. It is cheap due to the fact it was designed to be abundant.
Initially, Dogecoin was created as a bit of fun – based on the ‘Doge’ meme. The currency gained unexpected traction (largely due to its association with Elon Musk) and is now considered to be a legitimate investment by many Dogecoin traders. Due to its origins though, it is often considered to be light-hearted and tends to be used for less serious purchases and transfers.
Dogecoin is not backed by any assets of cash reserves and is a speculative investment. It is important to carefully consider whether a Dogecoin investment is right for you before risking any of your money.
Tips for Finding the Best Place to Buy Dogecoin
To find the right place to buy Dogecoin, you’ll first need to consider what you are looking for from a trading platform. Here are the top aspects we would recommend considering when choosing a platform to buy Dogecoin through:
Understand Dogecoin
Before you entertain making any purchases, it is vital to understand cryptocurrencies and specifically how Dogecoin operates. You need to be confident that you are aware of how the coin works and what the associated risks with trading Dogecoin are, before you invest money into it.
Do your research and consider using small amounts of coin or a demo account to start, so you can interact with the coin and platform interfaces at low risk or risk-free.
Match Your Risk Appetite
When looking for a purchasing site, think about your personal investment risk appetite. You’ll want to select a platform that fits your trading style and risk appetite.
For example, if you are new to trading, a beginner-friendly platform is the best choice – look for a simple trading interface and features like the option to start with a practice demo account.
You don’t want to be making avoidable mistakes because you’re not sure how to navigate the platform or trading environment.
On the other hand, if you have experience in trading, you may want to opt for a platform with more complex analytics features, alongside copy trading options so you can emulate the trades of others.
It is important to understand the risks with copy trading and ensure you fully understand the mechanics of the trades you are copying, hence why this is recommended for traders with some prior experience.
Evaluate Cost
When choosing a platform, one of the key aspects to consider is the amount it will cost to use. Look up the cost of being a member of different platforms and compare what you receive for the money.
You also need to consider what your upper investment limit is – and then choose a platform that corresponds with that.
For example, if you are only looking to buy small amounts of Dogecoin, you might find platforms with lower purchase limits cheaper, whereas, if you are seeking to purchase large amounts these could be found cheaper somewhere else.
Make sure to do your research and shop around before committing to your purchases.
Ensure Your Safety & Security
Make sure you are safe when purchasing Dogecoin and trading online by using only verified platforms – in the US ensure the site is FCA regulated.
When choosing a digital crypto wallet to store your assets, a non-custodial wallet offers more protection against hacks.
The increased security of Dogecoin itself, through the adoption of Proof-of-Stake (PoS) raised the credibility of the coin and improved confidence.
Prioritise customer support
When choosing a purchasing and trading platform, consider the level and type of customer support provided. If you run into complications, you’ll want to know that these can be solved swiftly, not take weeks or months of potentially costly hassle to resolve.
Frequently Asked Questions
Who created Dogecoin?
Dogecoin was created in 2013 by software engineers Jackson Palmer and Billy Markus. It was initially created as a joke emanating from the Doge meme, but gained unexpected popularity and credence.
How does Dogecoin work?
Dogecoin is a peer-to-peer and open-source cryptocurrency. Dogecoin has no maximum supply, unlike Bitcoin and other cryptocurrencies. Miners earn 10,000 DOGE per block and the coin has a one-minute block time for transactions.
Where can I buy Dogecoin?
Many online trading platforms trade Dogecoin. First, you choose a site and create an account, then purchase your chosen amount of Dogecoin with a card or PayPal (or via exchanging other assets or currency, such as Bitcoin) and add it to your digital crypto wallet. It is important to research purchase sites so you can trade on a platform with features that suit your needs.
Where is the best place to buy Dogecoin?
The best place to buy Dogecoin depends upon your own needs and experience in trading. This article explores 7 of the best places to buy Dogecoin.
Where is the safest place to buy Dogecoin?
When purchasing Dogecoin, ensure the platform you use is regulated and has the correct security protocols in place, so your money is not at higher risk. Once purchased, many seek a non-custodial wallet to store their cryptocurrency and other assets, as this means it is secure from cyber attacks on the host platform. Dogecoin is considered a safe investment in terms of transactions as it is based on blockchain.
How much is Dogecoin worth?
Dogecoin miners earn 10,000 DOGE per block. You can sell Dogecoin for cash on cryptocurrency exchanges. As with any currency, the value of Dogecoin fluctuates with market influences.
How can I invest in Dogecoin?
To invest in Dogecoin all you need to do is set up an online account with a trading platform which trades Dogecoin. It is, however, important to understand Dogecoin and the mechanics of trading it, before investing your money into the asset.
Why has Dogecoin gone up?
The popularity of Dogecoin greatly increased following its association with Elon Musk, who advertised his use of the coin. Following his Tweets, the price of Dogecoin often surges. Recently, Musk acquired a crypto licence for X (previously Twitter). The current value of Dogecoin is around $0.062 GBP. The all-time high of Dogecoin sits at $0.74.
What will Dogecoin be worth in 2030?
As an abundant cryptocurrency with no cap, Dogecoin is not considered to be a practical store of value. Its value tends to surge around Elon Musk’s activity with the coin, so it is not considered a good choice for long-term investors looking for returns.
Where can I trade Dogecoin as a beginner?
Beginners can trade on any platform, but some platforms are more beginner-friendly – look for platforms offering demo accounts, social trading and copy trading features, as well as analytics and educational resources. Ensure you have a good level of knowledge about Dogecoin before making any investments.
How much Dogecoin is there?
Dogecoin has no maximum supply. There can, therefore, in theory, be an infinite supply of the coin. This can work to undermine its value, as there is no limit on the amount of coin that can be created. In contrast, cryptocurrencies such as Bitcoin and
Who accepts Dogecoin?
There are several well-known companies that accept Dogecoin payments, including Tesla, US tech e-retailer Newegg, Twitch, GameStop and AMC Theatres – the largest theatre company in the US.
Final Thoughts
There are many platforms to choose from to buy Dogecoin stock. Depending upon your experience level, different features will be of interest. As a beginner, a demo account and low fees for transferring small amounts of coin may be a priority, whilst more experienced traders will seek deeper analytics and tracking features.
It is important to consider aspects such as trading fees, withdrawal fees and minimum deposit amounts, alongside functionality like copy and social trading and an integrated digital wallet.
The platform you choose should always be well-regulated and have high-security standards to prevent unnecessary losses through company misconduct or cyberattack. The 7 platforms outlined in this article are all strong contenders – the best platform for you to buy Dogecoin ultimately comes down to personal preference and need. Select a platform and progress your Dogecoin investments!