Not everyone wants to assume great risks when it comes to crypto. So, even though shitcoins on dubious decentralized exchanges produce some big results, sometimes testing the waters with a meme coin is just enough.
And for those of you who want to expand your portfolio with a few top meme coins, we will offer you a straightforward guide to getting started with Dogecoin, namely, how to buy Dogecoin and from what platforms.
What is Dogecoin? The short explanation
Dogecoin (DOGE) is a cryptocurrency that started as a meme-based digital asset and has gained significant popularity and attention in the world of blockchain and cryptocurrency. It was created in December 2013 by software engineers Billy Markus and Jackson Palmer as a lighthearted and satirical response to the growing number of serious and sometimes overly complex cryptocurrencies.
The name “Dogecoin” derives from the popular “Doge” internet meme, which features a Shiba Inu dog with broken English and Comic Sans font captions. The meme’s playful and approachable nature carried over to cryptocurrency, contributing to its early cult following.
From a technical perspective, Dogecoin is based on the same underlying technology as Bitcoin, utilizing a decentralized and public blockchain to record transactions. It initially used a proof-of-work consensus algorithm, similar to Bitcoin’s, but with some differences in terms of block generation time and the total supply of coins.
One unique aspect of Dogecoin is its tipping culture and community engagement. The relatively low value of each coin (compared to other cryptocurrencies like Bitcoin) made it ideal for small transactions and tipping online content creators and contributors, such as artists, streamers, and charities.
Recently, the project was picked up, and the website was redesigned. Also, the Dogecoin Foundation announced quite a few updates and has been more active than ever. More details are on their announcements page.
Where can you buy Dogecoin from?
The options to buy Dogecoin now vary a lot and are relatively adapted to your level of risk-taking. You now have the option to take it from an exchange (centralized or decentralized), from a trading platform, or from a banking app.
Of course, all these platforms come with different levels of risk, advantages, and disadvantages.
However, they offer the appropriate level of comfort depending on the type of user.
Next, in our article, we will show you how to buy Dogecoin from Coinbase, Etoro, and Revolut.
How to buy Dogecoin on Coinbase?
For regular crypto enthusiasts, an exchange like Coinbase is the ideal place to go when you want to buy Dogecoin or any other cryptocurrency.
Coinbase is a well-known cryptocurrency exchange and trading platform that allows quite a few operations with crypto, including depositing and withdrawing. This option is ideal, especially when you opt for storing your Dogecoin in your own hardware non-custodial crypto wallet.
However, Coinbase does have some fees.
Remember that Coinbase is an account-based platform requiring KYC before you can make most operations.
Basically, to buy Dogecoin on Coinbase, you just have to log into your account, search Dogecoin in the search bar, and write how much you want to buy. After that, you just press buy. It does not get simpler than that.
Of course, if you’re buying significant amounts to expand your portfolio after you buy Dogecoin from Coinbase, you should store it in a cold wallet.
Although Coinbase is one of the safest crypto platforms, it can be the target of a hacker.
How to buy Dogecoin on eToro?
Of course, there you may be just a regular investor that it’s looking to have a taste of those crypto profits. In this case, you don’t have to go out of your way to learn how to use a platform like Coinbase, especially if you’re already an eToro user.
On eToro, you can buy Doge like you would buy any other stock. You only have to login into your account, search for Doge, specify the amount, and click on Open Trade.
There is all there is to know about how to buy Dogecoin on eToro.
However, keep in mind that you cannot withdraw the Doge tokens from eToro. Even more, you do not buy the actual cryptocurrency but a representation of it. Perhaps this is the biggest disadvantage, but it’s just perfect for casual traders that don’t want to deal with cryptography, key phrases, and all that.
If you’re like that, you can just profit from Doge without being exposed to the risks. But, of course, the volatility risk still remains, just like on any other tradeable asset.
How to buy Dogecoin on Revolut?
Finally, if you’re neither a trader nor a crypto enthusiast but are curious about meme coins and Dogecoin, you can just get Doge tokens through the Revolut app.
Within the Revolut app, you just have to go to the crypto section and search for Dogecoin in the search bar. Once you select Doge, the dedicated page for Dogecoin will load, and you can buy right away.
However, keep in mind that you cannot withdraw from Revolut, and it has pretty high fees when it comes to crypto trading.
However, this is the best option if you just want to casually buy some Dogecoin and wait for it to grow and sell for a profit. With Revolut, you won’t have to deal with any complications that come from crypto and traditional trading platforms.
I hope that you now know how to buy Dogecoin. The process is really simple, and there are options for everyone. However, if you need more details on how to buy Dogecoin from Coinbase, eToro, or Revolut because you can’t find the option, please don’t hesitate to ask in the comment section.