eToro Exchange Starts Supporting Dogecoin due to High Demand
eToro started supporting Dogecoin on May 3. The crypto reached an all-time high price of $0.41 amidst significant growth.
The recent weeks have been filled with news related to Dogecoin. Tesla's CEO, Elon Musk, recently tweeted about the cryptocurrency stating how a new Dogecoin skit will be launched on Saturday Night Live on May 8. The tweet soared the value of the crypto even higher. Resulting from the success, investors are looking for ways to buy the currency.
eToro, one of the leading exchanges in Europe and the USA, has started offering the service because of the constant pressure from investors. The high demand has also raised the value of the currency to an all-time high price of $0.41, which is expected to increase even more. Investors are now wondering whether DOGE will grow to the ranks of Bitcoin and Ethereum.
With the crypto community going abuzz with the news about Dogecoin, traders may be wondering how they can buy DOGE on the eToro exchange. To get started on the process, follow these detailed and straightforward steps:
How Can I Buy Dogecoin with eToro?
Before buying Dogecoin, it is essential to state that Dogecoin is a cryptocurrency and not a stock. Cryptocurrencies are very volatile in nature, and if you are just getting started on the hype, you need to be cautious with your investments and conduct market research.
Now that you know that, let us get started on the process of buying Dogecoin:
Step 1: Create an Account with eToro
eToro is one of the leading trading platforms in Europe. The exchange has managed to retain its reputation over the years to become one of the most outstanding online brokers. eToro offers user-friendly features and a large variety of trading tools from which you can choose. This aspect has made it the perfect solution for those who want. Register to create your trading account and start buying Dogecoin.
Step 2: Add funds to your account
The second step towards buying Dogecoin is to add funds to your eToro account. The funds added can be in the form of a fiat currency. The process is relatively easy because you can select your source of funds and select the amount of money you want to spend. One of the best things about eToro is that users do not charge a deposit fee.
Step 3: Buy Dogecoin
Now that you have created your account and added funds, the next step is to buy Dogecoin. To purchase, find the right currency pair that you can use for the purchase. For example, if you are using USD, the currency pair to use is marked 'DOGE/USD.'
Once you have chosen your pair, select the amount of Dogecoin you want to buy and complete your transaction. After this, you will be the owner of the most talked-about crypto by Elon Musk.
The process of purchasing Dogecoin is easy, but the process of trading can be complex. If you are having trouble understanding what Dogecoin is all about, go online and find credible materials to help you. Better still, follow some of the most reputable investors on Twitter and learn more about crypto trading.
What is Dogecoin?
Dogecoin, which is also known as DOGE, is a cryptocurrency that is increasing in popularity. The crypto is also known as the meme coin, given that it was created after the meme frenzy.
Dogecoin was created in 2013 by Billy Markus and Jackson Palmer, two software developers. While the currency was initially designed to show humor regarding altcoins' growth, it can rise past the joke to become highly popular.
DOGE is also made with features that give it great value in the market. It is also a popular digital currency used by online content creators, and it goes beyond the scalability issues reported on other blockchain-based currencies such as Bitcoin. After setting its position as one of the reputable altcoins, Dogecoin's popularity and value will shoot even higher.
Will Dogecoin's Price increase?
When investing, you are never sure about your returns or, worse, losses. The possibility of loss is even higher in the crypto market because their values keep fluctuating. To this end, you can never be entirely sure about the future value of Dogecoin.
However, it is safe to say that the value of Dogecoin will most likely increase in the future. Governments worldwide have been looking into blockchain and ways they can leverage this cutting-edge technology to derive value. Besides, with a loyal Dogecoin community being headed by Elon Musk, more growth for the coin is expected.
With Dogecoin's immense popularity among users and high surge in price, it has the potential to be a good investment opportunity. Well, according to experts, Dogecoin could explode in the coming years and its price could hit another all-time high.
eToro – Best Exchange to Buy Dogecoin
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.