How to Buy Dogecoin (DOGE): Steps to Take in 2024

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Mileva Stankovic, Ramsha Naushad

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Intro

Are you prepared to plunge into the thrilling realm of cryptocurrency and learn how to buy Dogecoin?

You are right where you need to be. Within this guide, I will lead you through the process of purchasing Dogecoin on the best cryptocurrency exchanges. Additionally, our team will share valuable information to help you get the best possible DOGE experience. We’ll also give you some trading and investment strategies.

Now is the moment to delve deeper into this famous meme coin and unlock profit potential.
 

Best Sites

1.

Kraken

Exchange Rating 9.5
Available in
Available in United States
9.5
Description: 

Kraken is one of the oldest exchanges out there, having been around since 2011. They offer many trading interfaces and are extremely trustworthy.

General Information

Year founded: 
2011
Coins Available: 
Dogecoin
Ethereum
Tether
Polkadot
Chainlink
Cardano
Bitcoin Cash
Litecoin
Uniswap
USD Coin
XRP
Aave
Stellar
Tezos
Curve DAO Token
Algorand
Monero
Synthetix
Dai
Filecoin
Compound
EOS
The Graph
Cosmos
Keep Network
ICON
yearn.finance
TRON
Qtum
Dash
Basic Attention Token
Zcash
Kusama
OMG Network
Waves
Nano
Bitcoin
Enzyme
Decentraland
Kava.io
Ethereum Classic
Orchid
Kyber Network
Storj
Siacoin
Lisk
Aragon
PAX Gold
Gnosis
Balancer
tBTC
Augur

Anonymity

Kraken is a registered US exchange, so they must follow strict KYC & AML laws. These laws prohibit anonymous accounts from being generated.

Reputation

Kraken has one of the best reputations in the crypto industry. They are the only crypto company in the world to secure an SPDI banking license. 

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5.

Coinbase

Exchange Rating 7.7
Available in
Available in United States
7.7
Description: 

Coinbase, a major player since its inception in 2012, is a user-friendly cryptocurrency exchange offering a secure platform for buying, selling, and managing a variety of digital assets.

General Information

Anonymity

Committed to regulatory compliance, Coinbase adheres to strict KYC and AML protocols, necessitating user identity verification and preventing the establishment of anonymous accounts.

Reputation

With a solid reputation, Coinbase is widely recognized for its reliability, ease of use, and regulatory adherence. As a publicly traded company, it holds a position of trust in the cryptocurrency market.

Pros and Cons

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Why Trust Us

When it comes to buying Dogecoin, trust CryptoManiaks for accurate and reliable guidance. Our team conducts thorough research and actively engages with the Dogecoin purchasing process on various platforms, ensuring we provide you with practical insights and up-to-date information. 

With a commitment to transparency, our unbiased guidance empowers you to make informed decisions, making CryptoManiaks your go-to source for a seamless and trustworthy Dogecoin purchase.
 

Key Takeaways

 

  • Binance and Kraken are recommended for varied cryptocurrencies and trustworthiness
  • Prioritize security, understand fees, and consider wallet quality and storage options
  • You can purchase DOGE with e-wallets, bank transfers, cards, and other cryptocurrencies
  • Register, deposit, locate Dogecoin, choose order type, and confirm
  • Safely store DOGE in hardware, software, or paper wallets; avoid exchange storage for enhanced security

 

Dogecoin: Exploring the Friendly Cryptocurrency


Dogecoin is like many other cryptos, only with a long and quite interesting history. It was made in 2013 and started as a joke. 

You might wonder why it was named "Dogecoin"? 

Well, it features a cute Shiba Inu dog from a popular meme, and that's where its name comes from!

Today, people use Dogecoin for different things. Some keep it as a type of investment, hoping that its value will grow over time. Others use it to buy stuff online, just like you'd use your regular money to shop. Like other cryptos, Dogecoin can be sent to anyone in just a few seconds, as it has a faster block time compared to other crypto. 

Finally, Dogecoin is stored in digital crypto wallets. Just download and install a wallet on your computer or your smartphone, and you’ll be set to purchase DOGE. Once you get it, the coin goes into your crypto wallet, and use it whenever you want.
 
 

Pros and Cons of Dogecoin: The Simple Scoop


While Dogecoin has many advantages for its customers, it also has some drawbacks: 
 

Pros and Cons of DOGE
Pros Cons
Dogecoin started as a joke and has a friendly dog as its symbol. It's likable and many altcoin lovers own it Historically, Dogecoin has had limited development activity
Dogecoin has a vibrant and active online community. It’s known for its friendliness and charity initiatives, which have supported various causes The value of Dogecoin can go up and down quickly
Dogecoin has a fast block time of approximately 1 minute. This means quick transaction confirmations This can be exciting but also risky if you're not careful
The transaction fees for Dogecoin are typically very low Dogecoin's mining is often concentrated in the hands of a few large mining pools
Dogecoin's origin as a meme cryptocurrency has contributed to its popularity Dogecoin's popularity is driven in part by speculative trading
Dogecoin often has a lower entry cost compared to some other cryptocurrencies  

 

Remember, this meme coin can be a fun and interesting way to explore the world of digital money. Still, it’s good to be cautious and make sure you understand what you're doing before you dive in.

 
 

Selecting the Right DOGE Exchange

You will find many crypto exchanges where you can engage in buying, selling, and trading Dogecoin.

However, these exchanges often differ in trading functionalities, supported coins, and regulatory frameworks. So, it is essential to opt for an exchange that aligns with your preferences. 

Our team has reviewed many platforms, and we’re here to provide the best recommendations based on unbiased opinions.
 

Our preferred options


Binance stands as our favored choice for several reasons. Firstly, Binance ranks among the largest and most renowned global cryptocurrency exchanges. It boasts an extensive array of cryptocurrencies available for trading, all at competitive fees. This makes it particularly appealing for new investors.

Furthermore, the platform presents advanced trading tools tailored for proficient users and even features its native cryptocurrency, known as Binance Coin (BNB).

While Binance claims our top spot, alternative exchanges such as Kraken also present compelling attributes. Notably, Kraken is esteemed for its robust security protocols and exceptional customer support.
 

Security

Choose an exchange with strong security like two-factor authentication and regular audits to keep your funds safe. Check if the exchange is regulated in its jurisdiction. Research the exchange's reputation. Keep in mind that exchanges that implement AML procedures are often more secure.
 

Fees

Different exchanges have varying fee structures. Compare them to find the best deal for your trading costs and profits. Explore discounts, deposit/withdrawal fees, and added trading costs. Be aware that some exchanges charge inactivity fees.
 

Supported cryptocurrencies

Ensure the exchange offers the cryptocurrencies you want to trade, along with any fiat currencies you might use. Ensure that the cryptocurrencies you intend to trade have enough trading volume and liquidity on the exchange. Verify if the exchange supports popular stablecoins.
 

Wallet quality

Reputable exchanges provide secure wallets for storing your cryptocurrencies. Opt for one with robust security features and a reliable track record. Ensure that you have full control of your wallet's private keys. Additionally, .ook for wallets that use strong encryption methods.
 

Storage and custody

Look for exchanges that offer safe storage solutions, including features like cold storage and insurance coverage for added protection. 
 

Centralized vs. decentralized exchanges

Centralized exchanges (CEXs) are regulated, providing a somewhat higher level of security than decentralized exchanges (DEXs). However, recent events like the FTX collapse in 2022 highlight that regulatory oversight may not always prevent internal fraud.
 
 

Selecting Your Payment Method


Having settled on your chosen exchange, the subsequent step involves account creation and funding. Premier Dogecoin exchanges offer an array of payment methods. Here are some well-known options:
 

E-wallets

User-friendly e-wallets such as PayPal and Skrill are widely used on many exchanges. They offer a quick way to fund your account.
 

Bank transaction

A time-tested and secure choice, bank transfers enable you to link your bank account directly to the cryptocurrency exchange for seamless fund transfers. Be mindful that such transfers might take a few business days to finalize.
 

Credit/Debit cards

Swift and extensively utilized credit and debit cards are supported across most exchanges. At leading DOGE exchanges, Visa and Mastercard stand as the prevalent credit card options.
 

Alternative cryptocurrencies

Certain exchanges let you use other cryptocurrencies you own to buy Dogecoin. This is ideal if you hold cryptos like Ethereum (ETH), Litecoin (LTC), Cardano (ADA), or Bitcoin and seek portfolio diversification.
 
 

Executing Your Purchase Order on the Exchange

Now it’s time to purchase DOGE. You have several options, including a market order and a limit order. 

Opting for a market order implies you want to buy DOGE at its current market rate, while a limit order lets you set the price at which you want to make the purchase. Follow these steps:
 

Step 1: Registration and verification

Create an account on your desired exchange and successfully complete the verification process. This measure guarantees the security of your account and ensures you adhere to regulatory guidelines.
 

Step 2: Depositing funds

Once your account's verification is finalized, proceed to deposit funds using your preferred payment method. Like with other purchases, first, you must have money on the exchange so you can buy DOGE. 
 

Step 3: Locating Dogecoin

Find Dogecoin (DOGE) within the exchange's trading platform. Type in the ticker in the search bar to see available trading pairs.
 

Step 4: Determining order type

Decide on the type of order you wish to place: a market order or a limit order.
 

Step 5: Review and confirmation

Check all the details, including the amount of Dogecoin you wish to purchase, and confirm your order.
 
 

Best Ways to Get Dogecoin

Here are some popular ways to instantly buy DOGE and have it in your wallet within seconds: 
 

Buy with a bank account

Many exchanges in the US support free and quick bank transfers.

Some also allow other methods like wire transfers, but check if there's a deposit fee.
 

Buy with a debit card

Link your debit card to your exchange account. This may involve providing your card details and verifying it by making a small transaction or providing a code sent by your bank. Some exchanges may let you make instant purchases, but know that you might pay a higher fee.
 

Buy with a credit card

Buying Dogecoin with a credit card is similar to purchasing it with a debit card. 

Some exchanges take credit cards for instant buying, but know that credit card fees are high. Additionally, some credit card companies might block crypto buys and you may face issues with your bank. 
 

Buy with cash

Buying DOGE with cash isn't common in the US, but it's possible.

There are two ways to do it:
 

  • Dogecoin ATMs: Special ATMs in big cities let you use cash to get DOGE. You'll likely need an ID check
  • Peer-to-peer (P2P): Use a platform to find someone who sells DOGE for cash. But be careful, there's a risk of fraud. Go for a platform with good security and try to meet with the person to handle the transaction

 

Buy with another crypto

You can buy Dogecoin (DOGE) with another cryptocurrency by using a cryptocurrency exchange that supports DOGE trading pairs. Create an account, deposit the cryptocurrency you own, and place an order of your preference. 

Cryptocurrency prices can be highly volatile, so stay informed about market conditions and make informed trading decisions. Always exercise caution when trading DOGE and consider your risk tolerance and investment goals.
 
 

Easiest Ways to Buy Dogecoin on a Budget

Getting Dogecoin doesn't need to cost a lot of money. The minimum amount of DOGE that you can buy depends on the exchange you use and its specific trading policies. Many exchanges allow you to start with just $5 or even less. Typically, you can purchase very small amounts of DOGE, sometimes referred to as "microtransactions."

Some places have one way to buy Dogecoin, while others give you different options. There are mainly two common ways to get DOGE: the "spot market" or an "instant buy" option.
 

Instant buy

If it's your first time, this is the quickest but pricier way to get Dogecoin.

Look for "Buy now" on the platform you're using. You'll see a simple page where you type how much Dogecoin you want or how many US dollars you want to spend.

Usually, it's the only choice if you're using a credit or debit card. 
 

Spot market

Once your account is funded, go to the exchange's trading section and select the "Spot" or "Basic" trading interface. In the spot trading interface, search for the DOGE trading pair you want to use. For instance, if you're trading Bitcoin (BTC) for DOGE, select the BTC/DOGE trading pair. Now, place an order:
 

  • Market order: This type of order will execute immediately at the current market price. You specify the amount of DOGE you want to buy, and the order is filled instantly at the best available price.
  • Limit order: You choose the price and get Dogecoin when your price matches and the order executes. 

 

How to Keep Your Dogecoin Safe

Now that you have your Dogecoins, you'll need a secure wallet to store them.

You've got a few choices for Dogecoin: hardware wallets, software wallets, and paper wallets.
 

  • Hardware wallets: These wallets are super safe. Hardware wallets are physical devices that hold your cryptocurrencies offline. Since they’re not connected to the internet, they guard against hacking and malware, which is great for long-term holding
  • Software wallets: Also called “hot” wallets, these are applications you can install on your computer or phone. They're easy to use, but not as secure as hardware wallets
  • Paper wallets: A paper wallet is a piece of paper with your public and private keys on it. It's totally offline, so it's super secure, but you have to print it and keep it safe from potential hazards (floods, fires, etc.)

Remember to keep your wallet's private keys secret and make a backup in a safe place so you don't lose your holdings.
 
 

Is it advisable to keep your Dogecoin on an exchange? 

While it's true that many cryptocurrency exchanges offer the convenience of storing coins within the platform, it's not the most secure method for holding your Dogecoin.

The technology behind exchanges means there are potential factors. You may face security breaches or even compromise your own account. This could lead to the loss of all your coins. Once coins are lost, it becomes extremely challenging to recover them.

That's why I  suggest transferring most of your Dogecoin to a secure storage option after making a purchase. Online wallets, though offering some safety, can still be vulnerable. On the other hand, storing coins in a hardware wallet is the safest option. 

However, with a hardware wallet, the responsibility for the custody of your purchased DOGE rests entirely on you. Therefore, it's important to thoroughly research how to operate such a device to avoid any potential loss of funds.
 
 

Types of Cryptocurrency Exchanges

If you’re looking for the right crypto exchange for yourself, make sure you know the following types.
 

Centralized exchanges (CEX)

Centralized exchanges, or CEXs, are platforms for trading cryptocurrencies that are managed by a central authority. Users need to create an account to engage in trading. CEXs are favored for their wide range of trading pairs, high liquidity, and advanced trading tools. 

They also prioritize security, implementing robust measures to safeguard user funds. Additionally, CEXs often have dedicated customer support teams to assist users with various issues, deposits, and withdrawals.
 

Decentralized exchanges (DEX)

Decentralized exchanges, or DEXs, are cryptocurrency trading platforms that operate on a decentralized blockchain network. This means they are not governed by a single central authority. 

Instead, they utilize smart contracts and blockchain technology to facilitate direct trades between users. DEXs are popular among cryptocurrency enthusiasts who highly value privacy, security, and decentralization. 

One of their key advantages is the heightened level of security and privacy they offer. Since DEXs do not hold user funds or personal information, they are less susceptible to hacking attacks compared to centralized exchanges. 

Moreover, DEXs do not require users to undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, allowing for cryptocurrency trading without disclosing personal information.
 

Hybrid exchanges (HEX)

Hybrid exchanges are cryptocurrency trading platforms that incorporate elements from both centralized and decentralized exchanges. They provide the security and privacy advantages of decentralized exchanges while also offering the liquidity and user-friendly interface found in centralized exchanges. 

Hybrid exchanges usually employ a decentralized framework, executing trades on a decentralized network. However, they maintain a central authority responsible for managing the order book and ensuring quick, reliable trades.
 
 

What's Required to Create a Cryptocurrency Exchange Account


When setting up a cryptocurrency exchange account, you'll typically be asked to provide the following documents and details:
 

  • Full legal name
  • Date of birth
  • Home address
  • Phone number
  • Email address

Furthermore, many cryptocurrency exchanges mandate users to undergo a KYC process to confirm their identity. This might include submitting government-issued identification documents like a passport or driver's license, along with proof of address, such as a utility bill or bank statement.
 
 

Using Your Dogecoin

Here’s how you can use Dogecoin today:
 

  • Investing: Like other cryptocurrencies, you can hang onto your Dogecoin and hope its value goes up over time. Just know that the crypto market can be wild, so do your research beforehand
  • Gambling and gaming: People use DOGE for online gambling and games. Lots of websites let you use this crypto to play
  • Trading: If you are one of the traders and want to take advantage of quick price changes, you can pick Dogecoin to trade. But be careful, trading is risky, so have a good strategy in place
  • Holding: If you think Dogecoin will be valuable in the long run, you can hold onto it and wait for the price to change in the future
  • Online shopping: Some online stores take Dogecoin as payment. So if you like shopping online, you can use your DOGE to buy stuff

Remember, cryptocurrencies can be fun, but they can also be unpredictable. Make sure you understand what you're doing before you dive in.
 
 

Conclusion

Getting Dogecoin is pretty easy, if you follow the steps I mentioned above. Just find a good and safe exchange to buy it, deposit funds, and decide how you wish to purchase DOGE. Remember, you can choose between making an order or going with an instant buy option.

After you get your DOGE, you can keep it in a wallet or use them to shop online. No matter what you decide, make sure you know about possible risks that come with using and holding crypto

Frequently Asked Questions

When did Dogecoin start?

Dogecoin began in 2013 as a funny idea from software folks Jackson Palmer and Billy Markus. Palmer later said it was just a "hobby project." Billy Markus shared in 2021 that he wanted to create a happy and fun crypto community, different from the more "serious" one that was around back then.
 

What's the difference between Bitcoin and Dogecoin?

Bitcoin, often referred to as the first cryptocurrency, was created in 2009 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. Dogecoin was created in 2013, and started as a meme coin. 

Both Bitcoin and Dogecoin are on a digital list called a blockchain. They both use a "proof-of-work" system, where "miners" work to solve tricky math puzzles to check transactions and earn new coins. Unlike Bitcoin, there's no limit to how many Dogecoins can be made. Bitcoin has a fixed supply cap of 21 million coins. Dogecoin does not have a fixed supply cap.

What are the best alternatives for Dogecoin?

You can buy many alternative cryptos such as Litecoin, Cardano, Ripple, Solana,  Binance Coin, Tron, and others. You should make smart choices and stick to altcoins that suit your needs.

Is It possible to get free Dogecoin?

You can get a bit of free DOGE in a few different ways. You might play games online, use a crypto faucet, or even use a special credit card that gives you crypto rewards. Check out our guide on how to get free crypto for more ways to earn some DOGE without spending money.

What Is the relation between Dogecoin and Elon Musk?

Elon Musk has tweeted about Dogecoin numerous times, often in a playful and humorous manner. His tweets have had a significant impact on DOGE's price and popularity, causing it to surge at times. Musk also talks about Dogecoin in interviews and on social media, which makes his followers curious about it too.

Is it safe to buy Dogecoin online?

Yes, buying Dogecoin online is generally safe. Choose a reputable, regulated exchange with strong security measures like two-factor authentication and encrypted transactions. Research the platform's reputation and user reviews to ensure a secure purchase. Always exercise caution and follow best practices in the cryptocurrency market.

Written by

Mileva Stankovic

When Mileva invested in Bitcoin at the end of 2017, she never believed she’d end up becoming so focused on crypto. Today, she's investing in various coins and playing Texas Hold 'em with passion. 

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