How to Buy Dogecoin on eToro in 2024: Step-by-Step Guide

Did you know that you can now buy Dogecoin at eToro? The SEC-licensed broker has spot markets and its own crypto wallet where you can securely store and transfer your $DOGE tokens.

eToro started off as an online stock broker but has now branched off to encompass everything, from commodities and ETFs to CFDs and cryptocurrency. The trading platform has a smooth registration process, 24/7 customer support, and robust security, ensuring a seamless user experience.

In this guide, we’ll show you how to buy Dogecoin on eToro. We’ll walk you through the sign-up process all the way up to buying and hopefully selling your $DOGE token for a juicy profit. So, without further ado, let’s start trading!

How to Buy Dogecoin on eToro: 5 Easy Steps

One of the reasons why eToro is so popular is because of how user-friendly it is. The eToro platform is one of the few places where you can buy Dogecoin using a credit card without paying huge fees. But that’s not all; it also accepts e-wallets like Skrill, PayPal, and Neteller.

To learn more about this digital global trading company, check out our eToro review.

eToro boasts a straightforward trading interface where you can buy and sell Dogecoin instantly. In spite of its simplicity, you’ll still find copy trading, margin, and a range of order types, such as take profit and trailing stop loss. Do we have your attention? Follow these steps to buy Dogecoin on eToro now!

Buy $DOGE on eToro

1) Create an eToro Account

To sign up at eToro, go to the official site and hit the “Join Now” button. Create a username, type in your email address, and choose a password. Accept the platform’s terms and conditions and tap the “Create Account” button. Then, open your inbox and verify your email address.

2) Verify Your Account

To comply with regulations, all users at eToro must verify their accounts; fortunately, the whole process is quick and painless.

To verify your eToro account, snap a clear photo of your government-issued ID (e.g., a driver’s license) and a document showing proof of address, like a utility bill or a bank statement. Then, upload them to your account and wait for customer support to check your documents. Usually, it takes them 48 hours to review your information.

3) Deposit Funds 

To deposit at eToro, sign in to your account and click “Deposit Funds.” Then, enter the amount you wish to add to your account, select a payment method, and type in your payment details.

These are the available payment methods at eToro:

• Visa
• Mastercard
• eToro Money
• PayPal
• Neteller
• Skrill
• iDeal
• Klarna
• Bank Transfer
• Trustly

4) Search for Dogecoin

Navigate to the search bar at the top of your screen and enter Dogecoin. The familiar Shiba Inu-themed token will pop up, so all you need to do is tap the “TRADE” icon next to the cryptocurrency.

5) Place Your Trade

After you’ve hit the “TRADE” button, an order box will pop up showing Dogecoin’s current price. To buy DOGE, enter the amount you wish to purchase, select the order type, and hit the “Set Order” button.

Buy $DOGE on eToro

Fees for Buying Dogecoin on eToro

Now that we know how to buy Dogecoin on eToro, let’s talk about eToro fees. eToro charges a 1% fee when buying and selling Dogecoin, which is much higher than dedicated cryptocurrency exchanges. For example, OKX and Binance require as little as 0.08% and 0.1% per trade, and Coinbase fees start at 0.60% and can be as low as 0.05%.

However, unless you are trading frequently and with large volumes, it won’t make much of a difference to you. For example, if you buy $100 worth of $DOGE at eToro, you’ll pay $1, while the same trade at Binance exchange will cost you $0.10 and at Coinbase will set you back $0.60.

1% Buy/Sell Fee: It’s a flat, no-cap 1% fee that applies to all Dogecoin trades, irrespective of whether it’s a maker or taker order.

2% Transfer Fee: eToro charges a 2% fee when you transfer $DOGE from your trading account to the eToro Money crypto wallet. The minimum fee is $1, and the maximum is $100.

Things to Consider Before Buying Dogecoin on eToro

eToro charges high fees compared to other crypto trading platforms. So, if you’re a frequent trader, another exchange may be more suitable. Another disadvantage is that you can’t transfer Dogecoin from your eToro wallet to the trading platform; you’ll have to fund your account via fiat instead.

Is it Safe to Buy Dogecoin on eToro?

Buying Dogecoin on eToro is safe because you’re dealing with a US-licensed broker (SEC #8-70212/SEC CIK #0001753042).

All accounts at eToro have SIPC protection, and you can further safeguard yourself by purchasing $DOGE via e-wallets or credit/debit cards. These payment methods allow you to receive refunds if eToro is unable to provide the cryptocurrency you purchased.

Even though eToro is a secure platform for purchasing Dogecoin, we don’t recommend you store your digital assets there. Online trading accounts and wallets can be easily hacked, and cyber criminals often target crypto users through phishing scams and malware. To keep your $DOGE stash safe, it’s best to store your tokens in a special hardware wallet.

How to Sell Dogecoin on eToro

eToro makes it incredibly straightforward to close crypto trading positions. To sell your Dogecoin and realize a profit, follow these steps:

1. Log in to your eToro account account.
2. Click Portfolio in the left-hand menu.
3. Tap on Dogecoin to see the position.
4. Click “Sell” next to your open $DOGE position.
5. Tap “Sell” when the new screen pops up.

After you’ve confirmed the transaction, your $DOGE position will be converted into USD at the market price, and it will be transferred into your account. You can use the funds to open a new position right away.

If you want to sell your $DOGE at a particular price, you can create a limit sell order. Enter your price and click Set Order in the Set Rate box where it says Market. However, the order will only be executed if the market price reaches your limit order.

Conclusion

At eToro, you can trade over 20 cryptocurrencies, including DOGE. On this user-friendly trading platform, you can speculate on the price of everything from Google stock to gold and oil. eToro is loaded with features, including CFDs, margin trading, and copy trading, where you mimic the positions of top crypto traders.

If you are looking for a simple place to buy $DOGE with reasonable fees via Visa, Mastercard, PayPal, or online bank transfer, sign up with eToro and start stacking Dogecoins before the next bull run!

Buy $DOGE on eToro

FAQs

References

• How to verify your eToro account (eToro)
• The Securities Investor Protection Corporation (SIPC) protects customers if their brokerage firm fails (SIPC)
• What cryptocurrencies are available on eToro? (eToro)