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How to Buy Dogecoin
Buying Dogecoin can be a bit tricky if you’re not used to buying cryptocurrency. There are a few ways to do it though. Below, you’ll find instructions on how to buy Dogecoin with USD, how to buy Dogecoin with a credit card, and how to buy Dogecoin with PayPal.
How to Buy Dogecoin with USD
There are not many options to buy Dogecoin with USD directly. However, some cryptocurrency exchanges do offer fiat pairs with DOGE. Examples of these include:
For some less-known, smaller exchange alternatives, you could check out:
To buy Dogecoin with one of these exchanges, simply follow the steps below. Each exchange will be slightly different but for the most part, these steps will apply to all.
Once registered, make a deposit. Click on “Wallet” and then “Fiat and Spot” on the top-right navigation bar of the website. Click the “Deposit” button. You will be presented with the below options. Click the deposit currency you want to use to send USD to the exchange.
Follow the onscreen prompts entering in the information Binance ask for. After that, find the “DOGE/USD” pair. To do this type “Doge” in the search bar. Click the “DOGE/USDT” pair. USDT is a stablecoin – its price is always fixed to that of the US dollar (you’ll want to purchase USDT with a 1:1 ratio of your deposited USD, first). Finally, enter the amount of Dogecoin you wish to buy, pick the Market tab, and click “Buy DOGE”.
After you make your trade, you should immediately withdraw your DOGE to a wallet that is not an exchange. To do this, click “Withdraw” next to your DOGE balance. You will then need to enter your secure wallet address.
Note: It’s important to withdraw your DOGE straight away to a wallet that you control the private keys of. Exchanges are not safe places to store cryptocurrency. They get hacked often. Download a multi-asset wallet such as Jaxx. Better still, use a hardware wallet such as the Ledger Nano X. This applies to all the methods to buy Dogecoin listed below.
Each of the exchanges that let users buy Dogecoin with USD accepts different USD deposit options. I’ve listed each below:Binance: Visa / Mastercard, wire transfer, ACH bank transfer, SWIFT, SEN. Livecoin: Visa / Mastercard, Payeer, Perfect Money, Capitalist, AdvCash, Qiwi. Exrates: Payeer, Perfect Money, AdvCash, NixMoney. YoBit: OkPay, Payeer, AdvCash, PerfectMoney, Capitalist.
Advantages and Disadvantages Buying Dogecoin with USD Directly
Advantages:Quick and easy. You only need to register at one exchange.
Disadvantages:Small exchanges (like those listed above) are often completely unregulated. This means that they could disappear at any time and there would be nothing you could do about it. You’d just lose all the money you had stored at the exchange! Remember, do not leave any cryptocurrency on any exchange EVER. These small exchanges can charge large fees for depositing with USD directly. Some of the above methods listed will be free. Others might charge 1-2%. Smaller exchanges usually have less liquidity. This means if you were wanting to buy a large amount of Dogecoin, they might not have enough to sell you. The below methods are much better for larger orders. The exchange rates and the fees charged for trades can be very high. You should always check the rate against a website like Coinmarketcap before buying.
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