Where To Buy Dogecoin (DOGE)

Last Updated June 4th 2022
17 Min Read

Investing in Dogecoin, and meme coins in general, peaked pace in 2021 when the dog-themed joke currency received public endorsement from the likes of Elon Musk and Mark Cuban. One year later, Doge has morphed into the most popular and one of the most sought-after crypto investments in 2022.

As political tensions flare up across the world and inflation threatens to crash traditional investments, waves of investors have turned to cryptocurrencies. Most of these have their sight set on the all-popular Dogecoin - drawn in by its resilience, excellent past price action, and a promising future.

But how do you buy Dogecoin today? Is the meme coin even worth buying?

Well, in this Dogecoin investing guide today, we will be teaching you how to buy Dogecoin. We will also tell you the best places to buy Dogecoin in 2022, tell you if the meme coin is worth buying, and everything else you need to know about Dogecoin.

Let's dive right in.

How To Buy Dogecoin (DOGE) – Quick Guide

Looking to get straight to buying Dogecoin? Follow this quick 3-Step guide that teaches you how to buy Dogecoin with as little as $10.

  • Step 1: Open an eToro Account – Start by registering a free crypto trader account with the eToro crypto exchange. The account creation process on the platform is straightforward and is approved fast. eToro will only ask for your personal information and request that you verify your identity.
  • Step 2: Deposit Funds – To start buying Dogecoin via eToro, you will first need to deposit funds into the account you just created. The minimum you can deposit here is $10, and the supported fiat deposit methods include PayPal, credit cards, debit cards, eWallets (Skrill and Neteller), and even bank transfers.  
  • Step 3: Search for Dogecoin – go to the search bar on the eToro dashboard and type in DOGE or Dogecoin from the dropdown menu. 
  • Step 4: Buy Dogecoin (DOGE) – Finally, decide on how much money you want to invest in Dogecoin. Then click ‘Open Trade’ to confirm. 

That’s it! By following these easy steps, you can invest in Dogecoin in less than 5 minutes.

 

buy dogecoin

Top Exchanges To Buy Dogecoin (DOGE)

The unprecedented investor interest in Dogecoin has seen the oldest joke currency list with virtually all the popular exchanges in the world.

You can now trade Dogecoin on exchanges, brokerages, and even peer-to-peer trading platforms.

In this post, however, we will be telling of the three best places to buy Dogecoin in 2022. We will also tell you how much you need to buy Dogecoin on each platform and why we recommend them.

1. eToro - Overall Top Exchange to buy Dogecoin

buy dogecoin

eToro tops our list of best places to buy Dogecoin, not just because of its beginner-friendly user interface and super low trading fees. It also makes it here because of its low deposit and trading minimums and the fact that it maintains a resource-rich trading platform. To start buying Dogecoin, for instance, you only need to deposit a minimum of $10.

It is a fiat-to-crypto exchange that supports such deposit and withdrawal options as credit cards, debit cards, bank wire transfers, and eWallets like PayPal, Skrill, and Neteller. And when buying Dogecoin on eToro, you will only have to pay a fixed commission of 1% of the trading amount.

Note that eToro started as a forex brokerage in 2007 but recently onboarded cryptocurrencies. It has since morphed into one of the most popular crypto exchanges, listing all the popular digital assets - including Dogecoin.

The exchange ranks highly among the top exchanges to buy Dogecoin for beginners because of its easy onboarding process. It also makes it here because of its easily navigable user interface with rich educational content and investing guides. This platform also features a wide range of advanced market research, trading, and analysis tools - drawing it to expert crypto investors.

We also like the fact that eToro is a multi-trading platform available both as a web trader and a mobile app. Plus, you also get to enjoy the social and copy trading features offered by the crypto trading platform.

But even more importantly, we rank eToro among the best places to buy Dogecoin because it provides users with crypto custody services. Here, you have the option of holding your assets in the exchange-provided vaults that store 90% of the assets offline. Alternatively, you could hold them in the non-custodial and free mobile wallet app provided to all eToro platform users.

buy dogecoin

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

2. Crypto.com - Best place to buy Dogecoin for Higher Instant Deposit Limits

buy Dogecoin

Crypto.com makes it to the list of best places to buy Dogecoin because of its expanded deposit limits. Unlike exchanges like eToro, which will only limit your daily PayPal deposits to $10,000 or card transfers to $40,000, Crypto.com lets you make instant deposits of up to $50,000 daily.

We also appreciate its low minimum deposit and trading limit of $20. And both deposits and withdrawals in and out of the crypto trading platform are free because the exchange doesn’t charge processing fees. When buying Dogecoin on Crypto.com, you also get to enjoy competitively low trading fees of between 0.40% and 0.10%.

Further, if you had staked 5000 CRO tokens - the native token for Cronos blockchain - you enjoy a 10% discount on trading fees. This brings the Dogecoin trading fees on the platform to between 0.36% and 0.09% - based on your 30-day trading volume on the platform.

Like most other top-tier crypto trading platforms, Crypto.com runs a straightforward client onboarding process and fast account approval. It also maintains a highly intuitive yet sophisticated trading platform. The intuitiveness helps it appeal to novice traders, while the integration of advanced trading, analysis, and research tools help it appeal to expert traders.

Additionally, the trading platform integrates a growing number of Dogecoin investing options. It. for instance, has introduced crypto staking and lending programs. This makes it possible for virtually any DOGE holder to earn passive income when they stake and save their token holdings on these platforms. Via the Crypto.com lending program, you can borrow up to 50% of the staked or saved Dogecoins.

Crypto.com also features among the top exchanges to buy Dogecoin because it is a multi-platform exchange. It is available both on the Crypto.com web-trading platform and on the crypto.com mobile app. It also makes it to this list because it provides free crypto custody services. These are provided via the resource-rich Crypto.com DeFi wallet app.

buy dogecoin

3. Binance - Best Place to buy Dogecoins for Low Trading Fees

buy Dogecoin

Binance makes it to our list of top exchanges to buy Dogecoin because of its ultra-low and massively discounted crypto trading fees. When buying Dogecoin on the exchange, for instance, you will only pay a transaction fee of between 0.1% and 0.04% - based on your 30-day trading volume. And if you settle the transaction fee with Binance Coins (BNB), you get to enjoy a 25% discount, bringing the fees down to between 0.075% and 0.03%.

But in addition to the transaction fees, there is an innumerable number of factors that make Binance one of the top exchanges to buy Dogecoin. These include the wide range of supported crypto assets, which provide you with more DOGE trading pairs. It also makes it here because of its deep liquidity - processing crypto trades worth more than $40 Billion daily. This ensures your Dogecoin buy/sell orders fill out first.

We also appreciate Binance’s user-friendly trading platform. It is easily navigable and integrates the widest range of advanced charting, trading, research, and analysis tools. The exchange also boasts of some of the fastest order execution speeds. And all these are available on their web trader as well as on their mobile trading app.

Binance also features on our list of best places to buy Dogecoin because it presents you with several investing options. These include Binance staking and savings programs that earn you passive income on your DOGE holdings by paying you interest and other rewards when you save and stake your DOGE token here.

Like all other top exchanges, Binance maintains a straightforward onboarding process and fast account approval. Binance will also store the purchased Dogecoin tokens on your behalf in its ultra-secure offline vaults. These are also insured by the largest private crypto-insurance fund - more than $1 Billion. Plus, you have the option of holding these assets in the Binance-owned non-custodial mobile wallet app - the Trust Wallet.

buy dogecoin

What Is Dogecoin (DOGE)?

Dogecoin is a digital currency - like Ethereum or Bitcoin. But unlike Bitcoin and Ethereum, which are specially designed to solve real-world problems, Dogecoin was inspired by a popular internet meme.

It is built on an open-sourced blockchain technology, forked off the original Bitcoin algorithm, and is intended to make crypto trading/investing fun. It launched in 2013 and took up a popular internet meme featuring a Shiba Inu dog as its symbol.

But even though it was built using Bitcoin’s original code, Dogecoin’s code features several tweaks that make it fundamentally different from Bitcoin and its other forks. These tweaks helped increase transaction processing and block confirmation speeds on the network. They have also ensured that Dogecoin deviated from Bitcoin’s fixed token supply and gave it an infinite maximum token supply.

Dogecoin was among the earliest meme coins ever created. Its successful launch helped inspire the launch of more meme coins, which have since morphed into a new crypto niche. Some of the most popular Dogecoin spin-offs include Monacoin, Shiba Inu, SafeMoon, and Samoyedcoin.

Today, Dogecoin is the most popular and the most valuable meme currency - with a $10 Billion market cap. It was also the first joke currency to break into the coveted list of 10 most valuable crypto assets.

Note, however, that this popularity and value accumulation came about during the early 2021 crypto market rally. In addition to the ranging crypto market, Dogecoin’s popularity and subsequent value gain can be attributed to public endorsement by the Billionaire tech investor - Elon Musk. It could also be attributed to a sweeping meme coin craze on popular social networking sites, especially Reddit and Twitter.

Dogecoin (DOGE) Price

When Dogecoin launched in December 2013, one DOGE token was selling for $0.00020. At the time, cryptocurrencies were still a new phenomenon, and there was no real incentive to investing in Dogecoin. The meme coin, therefore, had a rough welcome, and it traded around this low price level from 2014 through to mid-2017.  

Throughout this period, Dogecoin reported minimal trade activity, with its daily trade volume averaging a few thousand dollars. Additionally, its prices often fell below the $0.0002 introductory price.

It wasn’t until the late 2017 crypto market rally that Dogecoin reported meaningful trade activity. The DOGE token prices jumped 8500% up their introductory price to reach $0.017 in the first week of January 2018. This price jump was, however, short-lived as the market crashed soon after. By the end of 2018, DOGE had shed all the 2017 gains and was back to trading around the December 2013 prices.

It would take 3 more years and yet another crypto market rally for Dogecoin to recover and break above the 2018 highs. The dog-themed meme coin crossed over into 2021, selling for $0.0044 and rode on the crypto market rally, breaking above $0.1 for the first time ever in the second week of April.

By the time it was peaking in on 7th May, Dogecoin was 17000% up its January prices. This had pushed its market cap to $89 Billion, making it one of the 10 most valuable cryptocurrencies at a price of $0.74.

12 months later, Dogecoin has lost close to 90% of this peak price and market cap. But it still features among the top 10 most valuable virtual currencies.

Dogecoin (DOGE) Price Prediction

Dogecoin is yet to recover from the mid-2021 price crash. It attempted a comeback during the mini-market rally in November 2021 but could only reach $0.30 before crashing again during the early 2022 crypto market meltdown.

Nevertheless, investor interest in the meme coin has been on the rise and so are analyst opinions. Today, the majority of crypto experts are confident that DOGE can sustain its current uptrend. They also believe that Dogecoin will rebound and possibly set a new all-time high before the end of the year, if the market resumes its late 2021 price rally.

Crypto analysts at Coinquora, for instance, are massively bullish about Dogecoin’s future price action. They are confident that if the market rebounds, DOGE can hit $0.07 by the end of 2022, race to $5 by the end of 2025, and extend this uptrend past $10 by the turn of the decade.

Technical analysts at PricePrediction.net are also optimistic about Dogecoin’s future performance. Their analysis points to a value gain towards $0.18 for the meme coin by the end of the year, a break above $1 within the next 5 years, and a sustained uptrend that pushes it past $4 in the next 10 years.

Much of this optimism can be traced back to the growing investor interest in the altcoin. It could also be attributed to Dogecoin’s resilience seeing that it has already survived two massively volatile market crashes. More importantly, it is credited to Elon Musk’s continued support for the altcoin as well as a thriving online community, especially on Twitter and Reddit.

Don't Miss: Dogecoin Price Predictions

buy dogecoin

Is Dogecoin (DOGE) A Good Investment?

Dogecoin is a speculative investment whose value is driven by hype. It has an ROI of close to 14000% and is expected to continue with this uptrend in the foreseeable future.

But to best answer the question of whether it is worth investing in Dogecoin today, we need to look at both the factors that make it a good investment and the risks of investing in Dogecoin in 2022.

Reasons to buy Dogecoin in 2022                       

  • Proven resilience: You might consider buying Dogecoin because it has proven to be a highly resilient cryptocurrency - able to withstand even the most volatile crypto market crashes. You need such an investment in your portfolio.
  • Increased use cases: Dogecoin's adoption as a store of value and medium of exchange are rising. Elon Musk has also promised to allow Tesla buyers to pay in DOGE and joked about making the official crypto for Twitter. Additionally, more ecommerce stores currently accept doge payments, which helps catalyze its value gain.
  • A growing community of supporters: From endorsements by the likes of Elon Musk and Mark Cuban to a massive following on Twitter and Reddit, Dogecoin’s community of followers is growing fast. These have been instrumental in hyping the meme coin’s price action and are expected to continue contributing to its uptrend in the foreseeable future.
  • Stellar past price action: Dogecoin has already posted an excellent past price action. Moving forward, it is expected to replicate this and possibly gain more value at a faster rate owing to a growing community and rising crypto adoption.

Risks of buying Dogecoin Today?

  • Stiff competition: Dogecoin faces stiff competition from such other meme coins as Shiba Inu, Samoyedcoin, and Floki Inu. These have eaten into meme coin market dominance and are expected to continue robbing DOGE of investors who believe the Musk-backed joke coin is priced in.
  • Massive price volatility: Like all other cryptocurrencies, Dogecoin is massively volatile. Only buy the meme coin if you can stomach the massive price dips that are characteristic of the meme coin. These vary from double-digit drops in a matter of hours to 90% crashes in a few months.
  • Poor development plans: Unlike most other meme coins that have active development teams and a properly laid out roadmap, Dogecoin has no solid development team or long-term goals.

Ways To Buy Dogecoin (DOGE)

While discussing the top exchanges to buy Dogecoin, we pointed out the different ways through which different exchanges let you buy DOGE.

In this section, we look at the three most popular ways of buying Dogecoin. These are:

Buy Dogecoin (DOGE) With Credit Card or Debit Card

Credit cards and debit cards are one of the most accessible payment methods. They are supported by the majority of top exchanges that list Dogecoins. You may want to buy Dogecoin via an exchange that supports card deposits because the deposits are instantaneous.

Further, cards often carry relatively high maximum deposit limits and most trading platforms do not charge deposit-processing fees.

You only have to pay the transaction charge imposed by your card provider.

Buy Dogecoin (DOGE) With PayPal

You can also choose to buy with PayPal. Today a growing number of crypto exchanges, like eToro, support PayPal as a deposit method. You may want to buy Dogecoin via an exchange that supports PayPal deposits because these payments are instantaneous and usually free.

Buy Dogecoin (DOGE) With Bank Deposit

Virtually all crypto exchanges will let you fund your Dogecoin purchases with bank deposits. They all support bank wire transfers as it is arguably the most accessible payment option. The upside to buying DOGE with Bank deposits is that most exchanges do not have a maximum deposit limit for bank transfers.

The downside, on the other hand, is that bank deposits take long before they reflect in your exchange account - which often leads to requotes. At eToro, for instance, it takes between 3 and 8 business days for bank deposits to reflect in your trading account.

buy dogecoin

Best Dogecoin (DOGE) Wallet

The Dogecoin development provides DOGE investors with three wallet options. Multidoge and Dogecoin Core are desktop wallets for Windows, Linux, and macOS devices, though you also have the option of a Dogecoin wallet - available for Android smartphones.

But there also are a host of third-party wallets that support Dogecoins. These include exchange-provided wallets like the eToro mobile wallet app and standalone third-party wallets like Exodus or MetaMask.

For maximum security, however, we recommend that you invest in a hardware wallet that stores the private keys for your DOGE tokens offline.

How To Buy Dogecoin (DOGE): Step by Step Guide

Now that you understand everything you need to know before buying Dogecoins, we now need to look at the DOGE token buy process.

For illustration purposes, we will provide you with a step-by-step guide on how to buy Dogecoins on the all-popular eToro exchange.

Step 1: Register a crypto trader account

Open the official eToro website and click the “Join Now” tab on the user dashboard to begin the account creation process. Complete the registration form that pops up - it only asks for such personal details as your name and address as well as your trading experience.

open trading account

Step 2: Verify your identity

Verify your user identity by submitting a copy of your government-issued identification document to eToro.

fund account

Step 3: Fund the account

Log in to your approved eToro trading account and on the user dashboard, click on the “Deposit” tab. You will be presented with a list of payment options - based on your country of residence. Choose one and follow the prompts to complete the deposit - noting that you only need to deposit a minimum of $10 to start buying DOGE tokens.

Step 4: Search for Dogecoins

On the user dashboard, click the “Discover” tab, and from the list of available markets and choose “Crypto.” From the list of all the supported crypto assets, find Dogecoin.

Step 5: Buy Dogecoins

Click on the “Buy” option. A trading tab will pop up requesting you to customize the trade by entering the amount of cash you wish to spend on the trade or the number of Dogecoins you wish to buy. Click on the “Open Trade” button to complete the purchase.

Note: eToro will deposit the purchased DOGE tokens in the exchange-provided digital wallet. But you can freely move them to the eToro mobile wallet app or forward them to an offline wallet or other third-party online and exchange wallets.

buy dogecoin

How To Sell Dogecoin (DOGE)

It is simple. Start by logging in to eToro - or the crypto exchange where you purchased the meme coin. Deposit the meme coins in here, if you had moved them to an offline wallet, and open a sell order.

If you wish to sell them immediately, open a market order that sells the DOGE tokens at the prevailing market rate. You could also set the selling price for your Dogecoins by opening a limit order.

Final Word - How To Buy Dogecoin (DOGE)

Dogecoin is arguably the most popular meme coin. Investor interest in the coin and its community of supporters on the coin has been on a steady rise.

Unlike cryptocurrencies like Bitcoin and Ethereum whose value is driven by usefulness and adoption, Dogecoin's price action rides on pure investor/trader sentiment. It has no real value. But it still enjoys a massive following online and the backing of key crypto influencers like Elon Musk and Mark Cuban.

In this post, we have discussed why you might consider buying Dogecoin today. We have also discussed some of the best places to buy Dogecoin today and gave you a step-by-step guide on how to buy Dogecoin on eToro for as little as $10.

eToro – The Best Place To Buy Dogecoin

Open an account with eToro, deposit some funds with USD, and finally – buy Dogecoin from just $10.

trade crypto on etoro

Crypto asset investing is highly volatile and unregulated in some EU countries and the UK. No consumer protection. Tax on profits may apply.

FAQs On Where To Buy Dogecoin (DOGE)

Is Dogecoin worth buying in 2022?

Yes, Dogecoin is worth buying in 2022 because it has proved its resilience by surviving the most brutal crypto crash. It is also worth buying because investor interest in the meme coin is on the rise and its community is growing. These are expected to help fuel its recovery over the next few months.

Will Dogecoin ever reach $1?

It is possible that the Dogecoin price will eventually break above $1. But considering its supply of 132 billion DOGE tokens and the fact that the market is currently consolidating, it will most likely take a few years before hitting this parity with the dollar. The majority of analysts estimate that it will get here in the next 5 years.  

Can I buy Dogecoin with Cash App?

No, you currently cannot buy Dogecoin with CashApp. The platform only supports Bitcoin purchases and most crypto exchanges do not support Cash App as a payment method.

Can I buy Dogecoin with PayPal?

Yes, the list of crypto exchanges that support PayPal deposits is on the rise. Some of the perks of buying Dogecoin with PayPal is that deposits are instantaneous and exchanges like eToro do not charge a deposit processing fee.

What is the best place to buy Dogecoin?

We would recommend eToro as the top exchange to buy Dogecoin because of its highly intuitive interface, a wide range of supported payment methods, low trading fees, and affordable trading minimums.

What will Dogecoin be worth in 2022?

The crypto market is wildly volatile at the moment and Dogecoin prices unpredictable. Therefore, no one can tell with utmost accuracy what Dogecoin will be worth in December 2022, but the majority of analysts and investors are confident that DOGE token prices will rally to new highs if the market escapes the current dip. 

Read More:

Are Dogecoin (DOGE) Coins Too Cheap To Ignore?

The Battle Of The Meme Coins! Shiba, Dogecoin And Safemoon

Is It Better To Invest Or Trade Dogecoin

How To Make (Or Lose) Money With Dogecoin

What Are The Safest Ways To Store Dogecoins (DOGE)?