Historically, DOGE has surged during waves of online hype and then corrected sharply. For example, in May 2021, it hit an all-time high of around $0.70, only to lose over 70% of its value within months. This section frames DOGE in market terms, so you enter with realistic expectations.

Although DOGE is now its own distinct, multi-billion-dollar crypto, it offers no unique utility in the digital currency and payments space. Before investing in Dogecoin, make sure you explore DOGE price prediction data and closely evaluate the risks. Transactions on MoonPay are fast, often completing in minutes, though fees vary depending on region and payment method. It has become especially useful for users in countries underserved by major exchanges.

So, if you choose to invest, treat it as a speculative asset and allocate only a small portion of your portfolio. Remember to research your options, avoid fees, and use the safest platforms to protect your investment. Once you buy Dogecoin, you can use it as an investment or spend it for online shopping, or even tip some How to buy dogecoin stock creators in the Dogecoin community.

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A good place to start your research is by considering DOGE’s utility. Once you’ve bought some DOGE, think about your short and long-term goals. This will help you decide whether to keep it on an exchange or move it to your own wallet. If you see colorful charts with a range of prices, you’re probably in the spot market. It should feature a simple interface that lets you enter the amount of Dogecoin you want to buy or US dollars you want to spend.

• Alternatively, if you prioritize privacy and direct transactions, decentralized exchanges (DEXs) like Uniswap allow peer-to-peer trades without intermediaries.
• Another interesting thing about Dogecoin’s origin is that the crypto itself is a fork of Luckycoin.
• The road to $1, if paved, will depend on market adoption, investor confidence, and other factors.
• Popular cryptocurrency exchanges like Coinbase, Binance, and Kraken offer easy access to Dogecoin.

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It remains unregulated and can be traded on a compatible exchange. However, despite being legal, it continues to be a volatile and highly speculative asset. However, like any other meme coin, DOGE is prone to significant volatility and should be traded cautiously.

FAQs About Buying Dogecoin

However, today, as Dogecoin pricing increased by more than 1000% percent in one month, it’s fair to say that Dogecoin was and still might be a future opportunity coin. Since its creation, Doge has also been used to donate money to charities. If you already know a little bit about Bitcoin, you’ll probably notice that Dogecoin’s description is a lot like Bitcoin.

Dogecoin vs. other cryptocurrencies

Carefully enter your wallet address; a mistake here could mean losing your Dogecoin forever. In a few minutes (or longer, depending on the network speed), your Dogecoin will arrive in your wallet. As you can see, Dogecoin is a bit different from many other cryptocurrencies we’ve covered. It hasn’t really been designed as a deflationary currency (the supply is always getting bigger).

Risks:

Dogecoin serves a useful purpose, unlike many cryptocurrencies around today. 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. Final crypto exchange evaluation conclusion based on research, expert opinions & user feedback.

• Don’t worry too much about extra features or coins for now – you can always sign up with another exchange later.
• As you can see, Dogecoin is a bit different from many other cryptocurrencies we’ve covered.
• It wasn’t just a token; it was a social experiment in internet fun.
• Like BTC, DOGE also runs on a proof-of-work consensus and is mining-reliant.

Why we chose these platforms

Buying DOGE through regulated exchanges almost always requires Know Your Customer (KYC) verification. This means providing government-issued identification and proof of address. Elon Musk has shown interest in Dogecoin through tweets and public statements, influencing its popularity. Dogecoin, often recognized by its Shiba Inu meme logo, emerged in December 2013 thanks to programmer Billy Markus from Portland, Oregon.

It started in 2013 and was created by Billy Markus and Jackson Palmer. Only specialized computer systems that have been designed for crypto mining can profitably mine Bitcoin these days. These systems are known as Application-Specific Integrated Circuits or “ASICs”, for short. The difference is that CPUs (the chips in normal computers) can still mine Dogecoin. Before you decide to buy into DOGE hype and purchase Dogecoin, looking at the previous price surges, you should consider a few angles.

Merchant adoption increases Dogecoin’s long-term value by driving real-world usage, fostering transactional demand, and embedding the coin into digital economies. This makes cold wallets the gold standard for long-term investors. They’re less convenient for daily transactions but provide unmatched security. Cold wallets are particularly recommended if you’re holding large amounts of DOGE or if you intend to store your investment for years. Hot wallets are always connected to the internet, which makes them highly convenient but also more vulnerable.

In this guide, you will learn what Dogecoin is, what Dogecoin was created for, what it is used for today, and if you should think of Dogecoin as a future cryptocurrency. In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only. BeInCrypto prioritizes providing high-quality information, taking the time to research and create informative content for readers. While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

If you’re looking for a secure platform, you can sign up for a Gate.io account and start trading Dogecoin today. To get started, choose a crypto trading platform like Public that allows you to deposit USD. Remember that owning and using Dogecoin is not without its risks. Carefully consider investing in DOGE as part of a wider strategy, and talk to a financial advisor if you have any questions.

Like BTC, DOGE also runs on a proof-of-work consensus and is mining-reliant. Secondly, select “Sell” and choose the amount you would like to sell. Go to the app store on your mobile device and search for Coinbase. Next, you’ll be prompted to enter the amount you’d like to purchase.

The coin gained much attention due to celebrity endorsements, such as Elon Musk, and because it was used in charitable efforts. It is suitable for microtransactions because of low transaction fees and fast processing times. Dogecoin operates on blockchain technology, similar to Bitcoin and Ethereum. It uses a proof-of-work mechanism for mining, which secures the network.

These non-KYC platforms may have restrictions depending on jurisdiction and transaction value. Revolut has expanded beyond banking into crypto trading, allowing users to buy DOGE directly within its mobile app. It’s particularly attractive for people who already use Revolut for daily banking, as it allows seamless integration between fiat balances and crypto purchases. Buying DOGE can be done instantly with a debit or credit card, and fees are relatively low compared to other fintech apps. Whether or not the cryptocurrency exchange accepts payments via debit or credit card. Peer-to-peer exchanges connect buyers directly with sellers, enabling private and flexible peer-to-peer transactions.

A passionate crypto enthusiast, Ethan frequently explores the intersection of blockchain technology and the gaming industry in his content. To convert Bitcoin to Dogecoin, use an exchange platform that supports both currencies, and perform the swap there. Once you have purchased your Dogecoin, it’s often a smart move to transfer it from the exchange into your wallet. Binance will execute your order using up-to-date market prices, ensuring you get DOGE promptly.