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How To Buy Dogecoin (Step-By-Step Guide To Investing In DOGE)

Eleanore O HattaBy 4 Mins Read
How To Buy Dogecoin

The endorsement of Dogecoin by Elon Musk has made it one of the most popular cryptocurrencies that many are investing in. 

Early buyers and investors of Dogecoin have counted remarkable profit seasons as well as a retracement. 

Consider when Elon Musk changed the Twitter logo to Dogecoin, it witnessed an estimated 25% increase in price. 

At the time this article was written, the price of Dogecoin was sitting at 0.6609 with a 0.47% increase margin.

As the price of Dogecoin still sits on a bearish trend, you may want to buy to HODL or sell at a slight increase. 

You may be wondering how to buy Dogecoin without any hassles. Excitedly, you are reading the right article as we are going to discuss ways that you can buy Dogecoin.

Before we go right into the steps, let’s give a brief overview of what Dogecoin is.

What Is Dogecoin

Dogecoin mining

Dogecoin, a meme coin, was created in 2013 by Billy Markus and his partner, Jackson Palmer. 

Dogecoin isn’t Bitcoin or BCH but was founded to follow the trends of both. Dogecoin became even more popular since Elon Musk took an interest in it as discussed earlier in the introduction of this article. 

Since its inception, Dogecoin has experienced its highs and lows and is currently predicted to be a good buy waiting for the bull run.

That being said, let’s proceed to how you can buy Dogecoin successfully. 

How To Buy Dogecoin

The following are steps to take to easily buy Dogecoin:

One rule in crypto investment is to invest wisely, some will say “Invest what you can afford to lose” or better still “Do Your Own Research” (DYOR). 

This is to help you decide the volume of Dogecoin you need and why you want to buy it. 

Before proceeding to buy, you should understand the volume of dogecoin that you have the monetary capacity to purchase, whether you want to invest hugely or not.

You can buy Dogecoin from any secure crypto exchanges such as Binance, Bybit, Coinbase, etc. 

If you don’t have an account, proceed to open an account by visiting the exchange website and providing all necessary information that may be required. 

Proceed to verify your account with the exchange by going through the KYC (Know Your Customer) process. 

You can buy from exchanges such as Binance, Coinbase, Trust Wallet, Kraken Exchange, and any other exchange that you choose. 

The next step is to fund your account with your preferred amount of USDT or any other crypto asset

If Dogecoin doesn’t appear directly in the exchange, you can use the search button, type in Dogecoin and it will appear. 

You will find its current market price and various trading pairs, simply click on it to proceed.

Once you click on Dogecoin in your preferred exchange, you need to click on the trading pair you want, type in the amount of purchase or the volume you want to buy, and proceed. 

In a few minutes, your order will be processed and will be executed.

You need to keep your Dogecoin secure. To avoid hacking or loss of coins, you should decide whether to store them in the exchange, an external wallet, or a hard wallet especially if you are buying to HOLD for a long period.

A cold wallet is a physical wallet that is like a flash drive in that you can safely store your Dogecoin, although it is much more expensive than a hot wallet.

Cold wallets tend to be less prone to crypto thefts. Bear in mind that you must not misplace or divulge your cold wallet address so as not to lose your purchased coin.

Conclusion 

Buying Dogecoin is as simple as it is stated above and will only take a few minutes of your time. 

As a buyer or you probably want to invest, it is wise that you know the risk factors associated with buying Dogecoin or any other cryptocurrencies.  

Do not ignore safety measures when using any exchange or storage wallet to avoid loss.

Cryptocurrencies are not stable, consider the price trends of Dogecoin over the years and carry out proper research before taking a Buy action. 

In all, good luck as you buy Dogecoin. 

Hailing from the bustling metropolis of Metro Manila, Philippines, Eleanore Hatta is BizTech Africa's trusted crypto news correspondent. With over a decade of experience as a content writer, Eleanore has honed her expertise in the world of cryptocurrency, with a keen focus on issues like the FTX exchange.

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