Dogecoin was created in 2013 and started as a joke adapted from the Doge internet meme. The cryptocurrency gained popularity through social media platforms, which raised funds quickly, accelerating the production of DOGE. In less than two years following its launch, over 100 billion coins were in circulation.
Investors should note that cryptocurrency investments continue to be risky, as the volatility of prices are high, and the storage of digital assets could be tricky for some. Dogecoin remains susceptible to quick market movements, including Elon Musk’s support for DOGE, which pumped prices up by 32% following his tweet about the meme-based crypto asset in April 2021.
This article will take you through the simple steps of how to buy Dogecoin.
Investors that are interested in exploring how to buy Dogecoin can easily purchase and sell the digital currency on cryptocurrency exchanges. Users can choose to either store their dog-themed token on an exchange or in a DOGE wallet.
Popular exchanges that support Dogecoin trading include Binance, Coinbase, Gemini, and Kraken. Other applications including Robinhood also support DOGE trading, but the platform does not allow users to transfer the cryptocurrency off of the brokerage. For those who are trading the meme-based digital currency on Robinhood, users must sell the assets and then repurchase them on an exchange to move them to a separate wallet.
Steps to buy Dogecoin
Select a cryptocurrency exchange and deposit fiat. Some exchanges may also allow users to buy crypto assets and DOGE directly, but there may be added fees in the transaction.
Find Dogecoin under the ticker symbol DOGE, which could be typically traded against stablecoin pairs including USDT, USDC or with fiat based on the availability at the exchange.
Select the “Buy” tab on the exchange and enter the amount and price at which you would like to purchase DOGE.
Complete the order by confirming the trade, which will be executed according to your instructions.
Once you have purchased your Dogecoin, the assets are held at the exchange wallet. This means that you do not have access to your own keys to your DOGE, therefore, many investors prefer to store their tokens in a wallet elsewhere by withdrawing them from the exchange.
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