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How to Buy Dogecoin Guide: Steps & Exchanges

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Alexander Reed

Last updated on: 26 November 2024

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Dogecoin (DOGE) started as a Bitcoin-spinoff joke in 2013. However, it ended up becoming one of the top cryptocurrencies. Billy Markus and Jackson Palmer created DOGE without knowing that its meme-inspired branding would turn into its strength, attracting a large community. The meme coin gained support from figures like Elon Musk, with Dogecoin becoming ‘the people’s currency’.

If you’re wondering how to buy Doge, the process is quite easy. Start by creating an account on a reputable cryptocurrency exchange—many of the best Doge exchanges, include Binance, eToro, and Kraken. After setting up and verifying your account, you’ll be ready to purchase DOGE in a few more steps. Don’t worry, we’ll walk you through the entire process.

How to Buy Dogecoin Summary

Buying Dogecoin (DOGE) involves setting up a secure wallet, selecting a reputable exchange, and completing your purchase. Here’s how to buy Dogecoin:

1. Get a Dogecoin wallet: Choose a wallet that ensures safe storage (Best Wallet, Ledger).
2. Locate your Dogecoin address: Setting up your wallet will be followed by getting a unique wallet address.
3. Find the best Doge exchange: An exchange will let you buy and sell your DOGE (Best Wallet, Binance, OKX).
4. Buying Dogecoin: Choose the payment method that works for your purchase.
5. Withdraw your Doge: You can withdraw your purchase from the exchange to your personal wallet.

Our top picks for buying Doge:

Best DEX

Payment methods:

SEPA, Bank, Credit/Debit Card, Google/Apple Pay, Revolut

Visit Best DEX

Binance

Payment methods:

Credit/debit card, wire, crypto

Visit Binance

eToro

Payment methods:

Debit card, wire

Visit Site

MEXC

Payment methods:

Debit/credit card, wire

Visit Site

eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

That’s how to buy Dogecoin in quick steps. If you want a more detailed explanation about Dogecoin and how to buy it, keep reading.

How to Buy Doge: Best Exchanges

As Dogecoin has become one of the most successful and long-standing cryptocurrencies in the industry, there is no shortage of top-tier exchanges that support DOGE. The best Doge exchanges not only offer competitive fees and seamless payment options but also prioritize security and reliability. Have a look at this video to understand how to buy DOGE in 2 minutes.

If you want to buy Doge, first we will have to touch upon different types of wallets for you to consider. Since each wallet can vary in terms of features, usability, and security.

Here are the most popular Doge wallets around:

Best Wallet

Type:

Hot Wallet + DEX

Overall rating:

Read Review

Visit Site

Ledger

Type:

Hardware wallet

Overall rating:

Read review

Visit Site

Trezor

Type:

Hardware wallet

Overall rating:

Read review

Visit site

Exodus

Type:

Web wallet

Overall rating:

Read review

Visit Site

Best Wallet

Our #1 pick for the best Dogecoin wallet is Best Wallet. Best Wallet is a multi-asset wallet that not only supports the safe storage of cryptocurrencies such as Doge, but the built-in DEX aggregator also provides a seamless way to buy, sell, and swap cryptocurrencies directly within the wallet.

As a software wallet, Best Wallet will store the private key to your Doge on your devices. It includes your mobile phone, desktop computer, and laptop.

Pro tip: Software downloads might be vulnerable to malware, so be sure to take the necessary precautions and only download official or highly recommended wallets.

After reviewing dozens of wallets over the years, Best Wallet has found a place in our lineup of top picks as we found the ability to buy and securely store crypto in the same application is not only convenient but more secure as users do not need to open themselves up to third-party risks by using cryptocurrency exchanges. And the best part? It’s free!

How to Buy Dogecoin with Best Wallet

Users need to visit the App Store or Play Store and search for Best Wallet to get started. We have attached the official link so that you can download and install the app on your device directly.

1. Set Up Your Wallet
   • Open the app and sign up using your email address or Google/Apple account.
   • Best Wallet uses web3 authorization and will ask users to set up two-factor authorization at this stage to secure their accounts.
   • Set up a password and you’re done.

     

2. Add Funds to Your Wallet
   • Use your credit card, debit card, or bank transfer to add funds directly in the app.
   • Alternatively, you can swap your existing cryptocurrencies for DOGE in your Best Wallet address.

     

3. Access the Buy Feature
   • Navigate to the “Buy” section in the app that is secured through the security of Onramper.
   • Apart from DOGE, users can explore the list of crypto options available for purchase and sell.

     

4. Complete Your Purchase
   • Check that the amount of Dogecoin you want to buy is entered correctly.
   • Review the transaction fees as Best Wallet doesn’t charge any other additional fees.
   • Your Dogecoin will be available in your wallet immediately after the transaction is processed.

Apart from Best Wallet, Exodus is an another multi-currency wallet. There is also the ability to choose a Doge-specific wallet such as MultiDoge. This is a wallet available for Windows, Mac, and Linux. Hardcore Dogecoiners can also download the full client for Dogecoin on the official site, however, this is not recommended for beginners (or if you don’t know what a full client is). Let us give you a list of features that made Best Wallet our pick.

Best Wallet Key Features

Here we have summarized the key features of Best Wallet so that you have all the information you need at a glance.

Best Wallet Pros and Cons

eToro

eToro – If you’re only interested in making a profit over Dogecoin’s price changes and you’re not into actually owning the coins, buying $DOGE with eToro is probably the easiest and cheapest option. The company offers a friendly and intuitive UI to help you exchange DOGE for fiat currency (USD, EUR, etc.).

Due to their relatively complicated withdrawal process, eToro is less recommended for accessing and using the actual coins. So, if you’re using eToro for investment only you can skip step 1 of getting a Dogecoin wallet, as you won’t be using the coins you’ll buy.

From the US? Unfortunately, you can only invest in Bitcoin, Bitcoin Cash, and Ethereum. Be sure to sign up for eToro US

eToro disclaimer: This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

How to Buy Dogecoin with eToro

eToro began services in 2007 and allows trading of DOGE and almost all other cryptocurrencies in one platform. We will now explain how to use eToro to buy Dogecoin, that include details like account creation, funding, and purchasing.

• Sign Up for eToro
  • Visit the eToro website and click on “Join eToro” button. You can also download the app.
  • Register for an account using your email or link an existing account.
• Verify Your Identity
  • Complete the identity verification by entering your personal details.
  • Upload necessary documents to complete the mandatory Know Your Customer (KYC) process.

    

• Fund Your Account
  • Deposit funds into your eToro account using a debit/credit card or bank transfer.
  • Review the exchange rate in fiat currency and ensure you have sufficient balance for your Dogecoin purchase.

    

• Search for Dogecoin (DOGE) on eToro
  • Go to the trading page and use the search bar to find Dogecoin.
  • Click on the “Trade” or “Order” button to start your purchase.
• Complete the Purchase
  • Enter the amount of DOGE you wish to buy and confirm the transaction.
  • You can also use a stop loss or take profit level on eToro.

eToro Key Features

For a simple comparison, let’s look at a what features does eToro offer:

Margex

Margex established itself as a crypto derivatives trading platform in 2019. It supports perpetual futures with up to 100x leverage and minimal margin requirements. The best part of Margex is designed for both beginner and advanced traders.

The platform has a competitive trading fees and user-friendly interface. It has two apps, one for advanced trading tools like copy trading. However, it is not allowed in the US and a few other countries with tougher regulation on cryptocurrencies.

How to Buy Dogecoin with Margex

• Create a Margex Account
  • Visit the Margex website and click “Sign Up.” It is best to download the iOS and Android app from the website.
  • Enter your email and create a password, then verify your email address by accepting that the platform is not restricted in your country.

    

• Fund Your Account
  • Navigate to the “Wallet” section and click “Deposit” next to DOGE.
  • If depositing fiat currency, use a third-party provider like Changelly, ChangeNOW or Uniramp to purchase crypto with a VISA or Mastercard.
    
• Go to the Trading Dashboard
  • Click on the “Trade” tab to access Margex’s trading interface.
  • Search for Dogecoin (DOGE) and select the desired order parameters.
• Choose Your Leverage and Place an Order
  • Set your desired leverage (up to 100x) and select your order type (limit or market).
  • Enter the amount of DOGE you wish to trade and confirm the transaction.
    
• Monitor and Manage Your Position
  • Use Margex’s customizable charting tools to monitor your DOGE position.
  • Stay aware that users will be required to complete verification procedure of third-party providers for future purchases.

Margex Key Features

Let’s quickly look at the features of DOGE purchase on Margex:

Margex Pros and Cons

OKX

OKX has quickly become one of the most popular crypto exchanges in the industry thanks to their fantastic asset support, high-security measures, beautifully designed UI/UX and their innovative OKX wallet.

OKX is among the leading exchanges leading the Web3 charge and is focused on providing users with streamlined and easy access to all things decentralized, such as NFTs, GameFi, DeFi and more.

You can see why OKX is one of our favorite exchanges in our detailed OKX Review.

How to Buy Dogecoin with OKX

1. Create an OKX Account
   • Visit the OKX website, enter your phone or email to sign up
   • OKX’s native wallet is integrated with the OKX exchange, you can connect them here.

     

2. Complete KYC and Desposit Funds
   • If you plan to use fiat payment methods, complete the KYC process by uploading a valid ID and proof of address.
   • Navigate the crypto section and choose your preferred funding method. OKX brokerage supports over 90 fiat currencies.
3. Place Order for Dogecoin (DOGE)
   • OKX allows express purchase of popular crypto like DOGE in simple steps.
   • Select the DOGE trading pair (e.g., DOGE/USDT or DOGE/USD).

     

4. Place Your Order
   • Enter the amount of DOGE you want to purchase and confirm the order.
   • Be aware that OKX can have a daily withdrawal limit.
5. Store Your DOGE Securely
   • Transfer your purchased DOGE to multi-signature OKX Wallet for security.
   • Alternatively, keep it in your OKX account if you plan to trade frequently.
     

OKX Key Features

Let’s review the key features that made OKX one of our picks.

OKX Pros and Cons

MEXC

MEXC’s global presence has grown rapidly. The platform is known for its competitive fee structure and advanced trading tools with the differentiating factor being high liquidity! MEXC is a good option for both beginners and advanced traders. With features like copy trading, simple trading mode, 200x leverage in futures trading, and staking opportunities, MEXC might just be the comprehensive option. However, it faces legislative limitations in some regions, including the US and India.

How to Buy Dogecoin with MEXC

MEXC Exchange can offer a seamless process to purchase Dogecoin (DOGE) on the MEXC website or app. Here’s what you have to do:

1. Create a Free Account

Create an account on MEXC and complete the KYC verification process on the website or app.

2. Choose Your Preferred Payment Method

To buy DOGE, click on the “Buy Crypto” option on the MEXC website or app. Select a payment method that suits you best:

1. Credit/Debit Card:
   • MEXC supports Visa and MasterCard for easy and secure transactions.
2. P2P Trading:
   • Purchase DOGE directly from other users through MEXC’s peer-to-peer (P2P) trading service, secured by escrow.
3. Global Bank Transfer:
   • Deposit USDT via SEPA or other banking services, then trade USDT for DOGE on the spot market.
4. Third-Party Payment Services:
   • Utilize services like Simplex, Banxa, or Mercuryo for additional payment flexibility.

3. Store or Use Your DOGE

• Store It:
  Keep your DOGE secure in your MEXC wallet.
• Trade It:
  Use DOGE to trade for other cryptocurrencies.
• Stake It:
  Users can stake DOGE using MEXC’s earning products to earn passive income.

MEXC Key Features

MEXC has a diverse selection of offerings with robust safety. Let’s look at what makes it stand our for buying DOGE in 2024.

MEXC Pros and Cons

Binance

Binance is a leading cryptocurrency exchange that supports the purchase of over 200 cryptocurrencies. The exchange has been around since 2017, is supported worldwide and allows users to buy Doge with a variety of traditional currencies and payment methods.

All you need to do is go to the exchange’s website, click on “Buy Crypto” on the top navigation bar and choose your payment method, as shown below. Check out our Binance review to learn more.

How to Buy Dogecoin with Binance

As the largest crypto exchange by volume, Binance offers both liquidity and choice in offerings. Let’s look at how to buy DOGE on Binance. Note: New and returning users have to verify their identify and sometimes the process can take up to 15 minutes. Therefore, it is best to incorporate that time.

Binance Key Features

We made a table summarizing the features of the Binance Web3 Wallet for a comparison. Have a look!

Binance Pros and Cons

Understanding Dogecoin: The Basics

What is Dogecoin?

Dogecoin (DOGE) is a decentralized, open-source cryptocurrency that originated as a joke in 2013. However, in [cur-year], the meme coin is not considered a Bitcoin parody anymore. Billy Markus and Jackson Palmer created the Bitcoin spin-off to operate similarly to Bitcoin. It using a proof-of-work consensus mechanism and champions a Shiba Inu dog.

Why Dogecoin gained popularity

The meme coin market is now filled with DOGE spin-offs. But, Dogecoin’s USP is now its community, making it the OG meme coin. It gained traction for its simplicity and low transaction costs, making it particularly popular for microtransactions, tipping creators online, and small-scale peer-to-peer transfers.

Tesla chief Elon Musk, who is fondly called the ‘DOGEFather,’ played a major role in its popularity. His statements about DOGE prospects as a ‘people’s currency’ sparked its surge in the past. Over time, Dogecoin has now a payment method on several merchant pages, payment gateways and shops, further legitimizing its use case.

Doge Tokenomics

Bitcoin’s maximum supply is capped at 21 million coins, but Dogecoin doesn’t believe in limits.Without a maximum supply, new Dogecoin is constantly being minted. This means there’s always more Dogecoin to go around, keeping transaction costs low and making it great for everyday use, like tipping your favorite meme creator. Sure, it’s inflationary, but that’s part of its charm—it encourages spending and sharing rather than hoarding.

That said, Dogecoin is based on the Scrypt hash function while Bitcoin uses SHA256 hash.

Beginner’s Guide to Buying Dogecoin

We have detailed several exchange and wallet options for you in the list above. But to reiterate, here’s what you need to do:

• Create an Account: Sign up on a cryptocurrency exchange like Binance or Coinbase.
• Verify Identity: Complete the necessary verification by submitting documents and proving you are not a robot!
• Deposit Funds: Add money to your account using a bank transfer, credit card, or other methods that the platform offers.
• Buy Dogecoin: Search for Dogecoin (DOGE), enter the amount, and complete your purchase. Voilà!

Preparing to Buy Dogecoin

Setting up a Dogecoin wallet

A Dogecoin wallet is very essential as it will store your crypto. We listed a few software wallet options like Best Wallet and Exodus for Doge storage, which are easy to use.  Once your wallet is set up, you’ll receive a unique Dogecoin address that lets you safely receive and manage your DOGE. Always back up your wallet’s recovery phrase to prevent loss of funds.

You are going to want to store your Doge in a self-custodial wallet to take it off an exchange. Hardware wallets provide the highest level of protection for digital assets, with our top picks for Doge hardware wallets being Trezor, ELLIPAL and Ledger.

Instead of a software wallet, you can also use a hardware wallet that requires an initial investment for being one of the safest wallet types available. For comparison, software wallets are almost always free. The reason hardware wallets are considered safe is that they keep the private key to your Doge offline on a physical device.

The Ledger Nano S and the Nano X are very popular choices. They each support not only Dogecoin but over 5000 different crypto assets, you can read our Ledger Review if you want the low down on those.

Likewise, the flagship wallets from Trezor, the Trezor Safe 3 and Safe 5 are highly secure and impressive additions to the Trezor lineup. You can learn more about those in our Trezor Safe 3 Review and Safe 5 Review.

Locate your Doge address

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. Here’s an example:

DBXu2kgc3xtvCUWFcxFE3r9hEYgmuaaCyD

Choosing the right cryptocurrency exchange

As Dogecoin has become one of the most successful and long-standing cryptocurrencies in the industry, there is no shortage of top-tier exchanges that support DOGE. Buying Doge with dollars or euros is quite simple and we have listed quite a few for you. To add to them, here are more most reputable exchanges that allow you to buy Doge:

Buy Dogecoin through Best DEX

Best DEX is one of our favourite choices for buying Dogecoin and other cryptocurrencies in a self-custodial manner.

Best DEX is the built-in exchange featured in Best Wallet, one of the most popular software cryptocurrency wallets available. Through the Best Wallet mobile wallet or browser, users can access the Best DEX and either swap another cryptocurrency for it, or purchase DOGE directly via SEPA, Bank transfer, credit/debit card, Google/Apple Pay or Revolut Pay.

The reason we like this method is that users do not need to give up custody of their funds to a third-party exchange as once the purchase is complete, the coins are deposited directly into the user’s wallet. You can read more about the Best Wallet in our Best Decentralized Wallets Review.

Buy Dogecoin through Kraken

Kraken, Founded in 2011, the US exchange allows you to deposit funds via a credit card or a wire transfer. Users in Europe can benefit from the fast and free SEPA deposits. Once the funds are in your account you can easily buy Doge using the “Buy Crypto” tab in the exchange’s top navigation bar.

Kraken is one of the most secure cryptocurrency exchanges in the industry and is one of our top picks as it is the only long-standing crypto exchange to never experience a security breach. You can read our Kraken review to learn more.

Buy Dogecoin through Changelly

Changelly is one of the few places that will allow you to buy Dogecoin with almost any currency (fiat or crypto). Changelly is a conversion service that works relatively quick and doesn’t require anything more than an email to sign up. The downside is that it can take up a lot in fees (especially if you buy Doge with your credit card).

You can read Our Changelly review here.

Buy Dogecoin through Coinbase

Coinbase is a regulation-friendly US-based cryptocurrency exchange, which has been around since 2012. It is also one of the only publicly traded crypto exchanges in America.

Users can buy cryptocurrency on Coinbase easily using a linked credit card or bank account. Simply click the blue “Buy/Sell” button at the top of the dashboard, select the required coin in the dropdown menu, and enter the amount that you wish to purchase. You can read our Coinbase review to learn more about why Coinbase is the #1 crypto exchange in the US.

How to Buy Dogecoin with PayPal

There are very few cryptocurrency exchanges that accept PayPal payments. For this reason, there are no options when it comes to buying Dogecoin with PayPal. However, you can use LocalCoinSwap, which lets you use PayPal to buy Bitcoin. Then you can transfer the Bitcoin to Changelly and trade it for Dogecoin.

Withdraw your Dogecoin

It’s 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.

So don’t forget to withdraw the Doge you’ve bought out of the exchange and into your own wallet using the address you got in Step 1. If you keep your Dogecoins on the exchange, you’ve basically given up control of the coins—if the exchange gets hacked or goes bankrupt, you may end up losing them.

Is Dogecoin a Buy?

Dogecoin has performed well and remains in the top 10 cryptocurrencies by market cap. But is a good buy depends on your financial goals and the risk you are willing to take by investing in a ‘meme coin.’ Dogecoin’s adoption is on the rise and its integration into mainstream payment options would further make it an intriguing option. The only concern could be around its unlimited supply and volatility for conservative investor. Users can onsider its long-term potential before deciding if it’s the right investment for you.

If you’re interested in purchasing Dogecoin, here are a few tips to consider:

1. Choose a Reputable Exchange: Select a cryptocurrency exchange that supports Dogecoin trading and has a good reputation for security and reliability. Research different exchanges to compare fees, features, and user reviews.
2. Understand the Risks: Dogecoin, like all cryptocurrencies, is highly volatile and can experience significant price fluctuations. It’s essential to conduct thorough research and understand the risks involved before investing.
3. Secure Your Wallet: Once you’ve purchased Dogecoin, store it in a secure wallet to protect it from potential hacks or losses. Consider using a hardware wallet for added security. Whether you choose a software or a hardware wallet, be sure to backup your recovery phrase!
4. Stay Informed: Keep up-to-date with Dogecoin news and developments, as market sentiment and project updates can significantly impact the token’s price.
5. Diversify Your Portfolio: As with any investment, it’s advisable to diversify your portfolio to manage risk. Don’t allocate too much of your investment capital to Dogecoin.

Conclusion

Frequently Asked Questions

References

Alexander Reed

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including... Read More

Read Alexander Reed Articles

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