How to buy Dogecoin in Australia

A Beginner’s Guide to Buying Dogecoin Cryptocurrency in Australia

6 Min Read
Last Updated July 23rd 2021

If you’re based in Australia and wish to buy Dogecoin  – the process is very straight. All you need to do is find a regulated exchange that offers competitive fees, deposit some funds with a debit/credit card, and decide how many DOGE tokens you want to buy.

Dogecoin is digital money that is denoted as DOGE. Just like Litecoin and Bitcoin, Dogecoin is a peer-to-peer, decentralized cryptocurrency that is increasing in popularity.

Dogecoin is a popular cryptocurrency that started as an online joke (a meme) has managed to grow to be among the most widely accepted digital assets in the world. 

Dogecoin has a market capitalization that is over $12 billion as of April 2021. Dogecoin is now among the leading cryptocurrencies in the world, and it is widely traded all around the world. Investors looking to buy Dogecoin in Australia can easily do so using their Australian dollars (AUD).

What's in this guide?

This is a comprehensive guide about trading with Dogecoin in Australia. This is a complete guide that clearly explains all the steps involved in the buying (and selling) of Dogecoin in Australia. Moreover, the guide also lists several essential facts and tips on fast-growing digital money. The guide also describes the storage and critical things to note before buying the coin.

  1. QUICK GUIDE: HOW TO BUY DOGECOIN IN AUSTRALIA
  2. Where to buy Dogecoin in Australia
  3. A Step-by-Step Guide to Buying Dogecoin in Australia
  4. How to sell Dogecoin
  5. Which wallets can I use to hold Dogecoin?
  6. How Dogecoin Works
  7. Things to consider before you buy Dogecoin in Australia 
  8. FAQs

QUICK GUIDE: HOW TO BUY DOGECOIN IN AUSTRALIA

  1. Open an account with a cryptocurrency exchange.
  2. Verify your account.
  3. Go to the deposit section
  4. Go to the platform and select Dogecoin.
  5. Enter how many Dogecoin tokens you want to buy.
  6. Check the details and confirm your purchase.

buy dogecoin

Where to buy Dogecoin in Australia

The easiest way to buy Dogecoin in Australia is through an exchange that trades in cryptocurrencies. This is a type of broker for cryptocurrencies. These crypto exchanges act in the same way as stock market and offer a suitable/safe platform for crypto buyers and sellers to trade or hold their digital assets.

Using an exchange for your crypto transactions is usually best for beginners in the market.

Check Out: Should You Buy Dogecoin?

A Step-by-Step Guide to Buying Dogecoin in Australia

Essentially, you can easily buy Dogecoin through the use of fiat currencies. You can also buy Dogecoin by using another cryptocurrency, like Bitcoin or Ethereum.

Buy Dogecoin with a Fiat currency.

The following steps list the process that you need to follow to buy Dogecoin with fiat currency.

 1). Open an account that supports Dogecoin

One of the first steps to buying Dogecoin in Australia is to open an online account. You will need to carefully choose the exchange that you want to use for this coin. Then again, ensure that this exchange supports trading in Dogecoin. This exchange has to list Dogecoin (DOGE) in the form of either just one or more pairings of currency. Sign up with your details.

 Most exchanges will ask you for your complete name, contact details, and verification of your ID. This is done before you are allowed to trade.

 2). Deposit some money into your account

The next step is to fund your new account by depositing funds into your account. If the exchange lists DOGE/AUD, you can then directly buy the Dogecoin by using your Australian dollars.

 3). Buy Dogecoin

After depositing your money, you will now move to buy your Dogecoin. 

buy dogecoin

Buy Dogecoin with another cryptocurrency.

There is also another option used to buy Dogecoin. This is buying with another cryptocurrency.

 1). Purchase Bitcoin or Ethereum

To buy Dogecoin with another cryptocurrency, you can use either Bitcoin or Ethereum. Dogecoin is paired with these two currencies. This means that you should have either the ETH or the BTC ready before the trade.

 2) Open an account

Dogecoin can be traded on many accounts; therefore, it is essential to consider the different features and the fees of the platforms.

 3). Deposit money into the account

Choose the money you want to buy the Dogecoin and deposit the funds into the account.

 4). Buy DOGE

Soon as you have the funds locked in your account, you can click on the exchange tab. To proceed, you will need to look for different currency pairs like "DOGE/BTC," "DOGE/TRX," "DOGE/ETH," and so on.

Choose the amount of DOGE you need and cross-check your trade details before clicking to checkout with your sales.

Don't Miss: Buy Dogecoin With eToro

How to sell Dogecoin

Selling your Dogecoin is easy. All you need to do is follow the steps outlined in the third step when buying Dogecoin with fiat currency.

All you need to do is to choose the amount of Dogecoin that you are looking to sell. You will then confirm the sale of DOGE. Soon as somebody accepts to buy the DOGE, the sale will be completed.

After the sale, this will instantly be converted to fiat currency in a matter of minutes.

Which wallets can I use to hold Dogecoin?

After buying your Dogecoin, you will need a wallet to store it in. Unless you are looking to trade off the Dogecoin, it is not good to store your cryptocurrency in your account with your exchange. It may become susceptible to hackers. You will need a wallet to store the Dogecoin. Keeping your Dogecoin in a wallet is much safer.

How Dogecoin works

Dogecoin was created by Jackson Palmer, an Australian, and Billy Markus, a software developer for IBM. The cryptocurrency started first as a joke. However, for some reason, it has been adopted as an actual crypto coin. The coin features a dog – which is the Japanese Shiba Inu dog breed.

However, Dogecoin is a very popular cryptocurrency. It has been designed to deliver affordable and fast transactions. It is an open-source digital currency that is useful to be used as a kind of payment for goods and services. Dogecoin can also be traded for different other currencies. The LuckyCoin protocol powers dogecoin.

 The crypto coin has a current market capitalization of about $74 million. The value of Dogecoin has steadily risen and fallen in the past with no fixed price.

Read More: Dogecoin Price Prediction

Things to consider before you buy Dogecoin in Australia 

Cryptocurrencies are highly speculative and very complicated in the sense that numerous factors determine their values. It is essential to know the risks that come with cryptocurrencies before buying decisions are finalized.

People looking to buy the Dogecoin can consider the following factors:

Availability

One of the essential determinants that influence the acceptance of a particular crypto coin is whether it is available. Dogecoin is available on many exchanges, which means that it is a relatively available digital coin.

Community Support

Dogecoin enjoys massive support from an online community of dedicated followers. This means that Dogecoin is here for the long haul and is a relatively safe digital money to buy.

Used to be a Joke

Jokes apart, the Dogecoin started life as a joke. And industry experts have pointed out that this is a considerable aspect of their survival. People looking to invest in the coin and are looking for some seriousness might be met with funny jokes about crypto investment. This is not to say that the digital coin is not a profitable venture to invest in.

 eToro – Best Exchange to Buy Dogecoin in Australia 

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.

FAQs

How can I buy Dogecoin?

The best and convenient way of buying the Dogecoin is to use a cryptocurrency exchange. These exchanges offer a fast, safe, and convenient way of buying (and selling) Dogecoin.

Is Dogecoin worth buying?

Most price analysts are positive that the price of Dogecoin will increase. Experts believe that Dogecoin is worth buying because it is considered as a fair-risk investment with huge potential for a great reward. However, before you start investing, making sure to do some research to make a more educated decision. 

Should I invest in Dogecoin in 2021?

Dogecoin is among some of the best trending cryptocurrencies in 2021, currently among the hot-listed coins by industry insiders. Dogecoin is looking to be the default cryptocurrency for payments for goods and services this year.

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