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How to Buy Dogecoin in Australia – Beginner’s Guide

Want to get involved with 2021's hottest cryptocurrency? Learn how to buy Dogecoin with low fees today!

Based in Australia and thinking about buying Dogecoin? If so, you’ll need to find a regulated online broker that not only supports DOGE investments – but at competitive fees and commissions.

In this guide, we show you how to buy Dogecoin in Australia in the safest and most cost-effective way and at reputable, regulated exchanges.

eToro - Our Recommended Australia Crypto Platform

eToro exchange
  • CySEC, FCA & ASIC regulated
  • Millions of Users Trading Crypto, Commodities, Stocks, Forex, ETFs
  • Zero Commission Fees, only Spread
  • Deposit via Debit or Credit card, Bank wire, Paypal, Skrill, Neteller
  • Free Copytrading of Professional Crypto Traders - 83.7% Average Yearly Profit
eToro exchange
67% of retail investors lose money when trading CFDs with this provider.

How to Buy Dogecoin in Australia – Quick Guide

In a rush and wondering how to buy Dogecoin in Australia right now? Follow the quick and easy step-by-step guide outlined below to buy Dogecoin in less than 10 minutes!

  1. Open an account: You’ll first need to open an account with an ASIC-regulated crypto broker like eToro. Simply enter your personal information and contact details to register.
  2. Upload ID: As eToro is licensed by ASIC, the broker needs to verify your identity. Simply upload a copy of your government-issued ID and a utility bill or bank account statement.
  3. Deposit: You will need to deposit funds into your eToro account so that you can proceed to buy Dogecoin. eToro supports debit/credit cards, bank transfers, and e-wallets like Paypal and Skrill.
  4. Buy Dogecoin: Now that your account is funded, you can search for ‘DOGE’ and click on ‘Trade’ Once you see an order box appear, enter the amount of DOGE you wish to buy (USD $25 minimum) and confirm the order.

The above example has illustrated how easy it is to buy Dogecoin in Australia when using an ASIC broker like eToro.

How to Buy Dogecoin in Australia – eToro Tutorial

If you are looking to buy cryptocurrency online for the first time, you might need a little bit more in the way of guidance. If so, this section of our guide shows you a full tutorial on how to buy Dogecoin in Australia.

Step 1: Open an Account and Upload ID

Your first port of call is to open a brokerage account with eToro. In a similar way to share trading platforms or forex brokers sites – this will require you to provide some personal information.

eToro sign up

This will include your:

  • First and Last Name
  • Home Address
  • Date of Birth
  • Tax Identification Number
  • Mobile Number
  • Email Address

You will also need to enter a username and a strong password, as well to verify your mobile number and email address.

67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Upload ID

As you likely know, ASIC requires all of the brokers that it regulates to verify the identity of its traders. This means that eToro will now ask you to upload a couple of identification documents.

This includes:

  • Passport or driver’s license
  • Utility bill or bank account statement

eToro typically verifies the documents within a couple of minutes – so you’ll be ready to buy Dogecoin in Australia in no time at all.

Step 3: Make a Deposit

You will now need to deposit some funds into your eToro account. Take note, the platform operates in US dollars – so there will be a small 0.5% FX fee charged on your deposit. This is significantly lower than other brokers in this space, with the likes of Coinbase charging 3.99% to buy Bitcoin and other digital currencies with a debit card.

Nevertheless, eToro allows you to deposit funds with a debit/credit card, e-wallet (including Paypal), and a bank transfer. The minimum first-time deposit for Australian traders is USD$200 – which is about AU$250.

Step 4: Search for Dogecoin

You can now search for ‘Dogecoin’ and click on the ‘Trade’ button to go straight to the respective investment page.

Step 5: Buy Dogecoin

To complete your Dogecoin purchase, you will need to enter the amount that you wish to invest. This can be any amount above the minimum of $25.

dogecoin etoro

Finally, click on ‘Open Trade’ to buy Dogecoin. In doing so, the funds will be added to your eToro portfolio.

Step 6: How to Sell Dogecoin

Assuming that you completed your Dogecoin purchase through eToro, you can sell your tokens at the click of a button. Simply head back over to your portfolio and click on the ‘Sell’ button next to Dogecoin. As soon as you do, the funds will be added to your eToro cash balance.

Where to Buy Dogecoin in Australia

If you’re wondering how to buy Dogecoin in Australia in the safest and most convenient way – you’ll need to choose a top-rated broker or exchange. There are dozens of such platforms that give you access to Dogecoin – so make sure that you select one that meets your needs.

To save you from having to perform countless hours of research, below we have listed the best platforms to buy Dogecoin in Australia.

1. eToro – Overall Best Way to Buy Dogecoin

etoro logo

eToro is an online broker that offers a number of innovative social trading features. This includes the ability to ‘copy’ other traders that use eToro. As such, the Copy Trading tool permits a 100% passive investment experience – as anything that your chosen trader buys and sells will be mirrored in your own eToro portfolio.

In terms of how to buy Dogecoin, the process could not be easier at eToro. All you need to do is open an account, make an instant deposit, and then search for DOGE. Then, it’s just a case of entering the amount you wish to buy and confirming the order. You only need to meet a minimum investment of $25 per Dogecoin trade, which is great for risk-management purposes.

where to buy Dogecoin

In addition to Dogecoin, eToro also allows you to choose from a selection of other cryptocurrencies. This includes Bitcoin, EOS, Ripple, Ethereum, Uniswap, Cardano, and more. All markets come with tight spreads and competitive fees. There is no ongoing platform charge, so you can keep hold of your Dogecoin investment for as long as you wish. eToro also offers a popular digital wallet that allows you to store over 120+ different tokens – including Dogecoin.

On top of cryptocurrencies, eToro offers a wide range of other asset classes. This includes everything from shares and forex to commodities and ETFs. In terms of getting funds into the broker, eToro supports Paypal, Skrill, Neteller, debit cards, credit cards, and bank transfers. When it comes to the safety of your capital, eToro is regulated by ASIC. The platform also holds licenses with the FCA (UK) and CySEC (Cyprus).

Past performance is not an indication of future results.

Pros

  • Buy stocks and ETFs commission-free
  • Over 2,400 global shares and 250 ETFs
  • CFD markets also offered
  • Social network with copy trading tools
  • Top-rated trading app
  • Regulated by the FCA, CySEC, and ASIC
  • Registered with the SEC and FINRA

Cons

  • Withdrawal and inactivity fees

67% of retail investor accounts lose money when trading CFDs with this provider.

 

2. Capital.com – Trade Dogecoin CFDs Commission-Free

new capital.com logo

Capital.com is an online CFD trading broker that is regulated by ASIC. The platform offers thousands of financial markets across shares, ETFs, forex, metals, energies, and of course – cryptocurrencies. In fact, Capital.com has one of the largest crypto CFD marketplaces in the online space.

When it comes to trading Dogecoin, you won’t own the underlying digital tokens as you are speculating on a CFD instrument.  However, this does allow you to apply leverage of 1:2 on your position – which essentially doubles the amount of capital that you have available. Trading Dogecoin CFDs at Capital.com also permits a long or short position, so you can attempt to profit from both rising and falling prices.

trade dogecoin

In terms of fees, Capital.com is a 100% commission-free platform, so it’s only the spread that you need to cover. We also like the fact that you only need to meet a minimum deposit of USD$20 – or about AU$25. As such, Capital.com is great if you are trading leveraged CFDs for the first time. Capital.com also offers a demo account facility that allows you to trade in a risk-free manner.

Pros:

  • Educational app for new traders
  • Commission-free trading
  • Tight spreads
  • Leverage offered
  • AI assistant identifies your weak points
  • Excellent charting and analysis interface
  • $20 minimum deposit

Cons:

  • Cannot build custom investment strategies
  • CFDs only

71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.

 

3. Binance – Top-Rated Cryptocurrency Exchange to Buy Dogecoin

Binance Logo

Binance is another option worth considering in your search to buy Dogecoin in Australia. The cryptocurrency exchange offers hundreds of tradable pairs – so it’s one of the most popular platforms for short-term speculators. You can, however, also buy Dogecoin in the traditional sense with a debit or credit card.

For this, you will need to open an account and upload a copy of your government-issued ID. The fees on debit/credit card deposits seem to vary – as Binance regularly offers promotions. In most cases, this averages 2-3% in Australia – which is much more expensive than eToro at 0.5%. Nevertheless, you can also deposit funds via PayID – which is considerably cheaper.

binance buy dogecoin

The other option you have is to buy Dogecoin by depositing another crypto asset – such as Bitcoin or Ethereum. If you take this route, you will only need to pay a trading commission of 0.1%. Plus, you won’t need to provide any personal information or upload ID documents – as you are not using fiat currency. Once you have purchased Dogecoin at Binance, you can withdraw the coins to a private wallet or leave them on the exchange.

Pros

  • Largest cryptocurrency exchange in terms of trading volume
  • Hundreds of cryptocurrency pairs supported
  • Trading commission of just 0.1%
  • Supports debit/credit cards and PayID
  • Great reputation in the cryptocurrency scene
  • Ideal for advanced traders that seek sophisticated tools and features

Cons

  • Not great for newbie investors
  • Expensive if using fiat currency to deposit funds

Your Capital is at risk.

Dogecoin Brokers Price Comparison

Fees and commissions should play an important role when choosing an online broker to buy Dogecoin. As such, check out the fee table below.

Deposit Fee Standard Commission Spread
eToro 0.50% 0% From 0.75%
Capital.com None 0% Variable
Binance Averages 2-3% 0.10% Variable

When it comes to the spread, this will vary throughout the trading day. The most competitive spreads can be found when trading volumes are high. This is why you might want to avoid buying Dogecoin over the weekend.

What is Dogecoin?

Dogecoin LogoDogecoin is a digital currency that operates on blockchain technology. The project was first founded in 2013 by Jackson Palmer and Billy Marcus as a joke.

Dogecoin carries a distintive logo that resembles a Shiba Inu dog – which is a play on a popular meme at the time of the cryptocurrency’s launch.

  • As a digital currency, you can send and receive Dogecoin tokens from wallet to wallet.
  • Transactions typically take just 1 minute to confirm – which is considerably faster than that of Bitcoin.
  • Although there is much to like about Dogecoin as a payments network – it should be noted that this is a highly speculative crypto asset.

In fact, it was until early 2021 that the project came back to life, with the value of Dogecoin remaining flat for many years prior. Many would argue that Dogecoin’s recent success in the market is due to Tesla CEO Elon Musk – which on several occasions has positively plugged the digital token through Twitter, as well as TV.

Why Buy Dogecoin in Australia? Dogecoin in Australia Analysis

If you choose to buy Dogecoin in Australia, you are likely doing so because you want to make money. In order to do this, you need the value of the digital coin to increase. If you are able to sell your Dogecoin tokens for more than you originally paid, then you will make a profit.

However, there is no guarantee that this will happen – so never invest more than you can afford to lose. If you’re still undecided on Dogecoin, below we discuss some of the main reasons why you might decide to take the plunge.

Dogecoin Price Action in 2021

Dogecoin entered 2021 at a price of $0.004. Like all financial instruments, this price will rise and fall on a second-by-second basis. Fast forward to May 2021 and Dogecoin breached an all-time high of $0.71. This means that in just five months, the value of Dogecoin increased by over 17,000%.

Gains like this in such a small amount of time are why so many people are looking to buy Dogecoin in Australia. However, it is important to remember that what goes up can always come crashing straight back down – especially in the case of cryptocurrencies like Dogecoin.

dogecoin price

At the time of writing, Dogecoin has since retracted to $0.48 – which is a 32% from its prior highs of $0.71. However, even at $0.48 per token, that’s year-to-date gains of almost 12,000%.

You can Buy Small Amounts of Dogecoin

When you look at the value of cryptocurrencies like Bitcoin – which has since surpassed $60,000 per coin – you might be put off by this. However, Dogecoin still carries a super-low value, meaning that you can buy a lot of coins without needing to invest large sums of capital.

For example, at the time of writing, you will pay just $0.48 per token. This means that with an investment of $480, you would get 1,000 Dogecoin tokens. With that said, you can invest even less when using an ASIC broker like eToro – as the platform requires a minimum trade size of just $25.

No Issues Cashing Out

In a time not so long ago, being able to cash out your crypto assets was not an overly simple process. This was, and still is in some cases, because of liquidity. That is to say, smaller cryptocurrency projects are unable to attract a large amount of trading volume and thus – you will often find it difficult to find a buyer that is willing to purchase your coins.

how to buy dogecoin in australia

However, Dogecoin is now a multi-billion dollar project that until a few days ago, was the fourth largest in terms of market capitalization. As a result of this, you will never struggle for liquidity. This means that you can sell your Dogecoin back to Australian dollars whenever you see fit.

Dogecoin Price

The Dogecoin price, as of May 17th 2021, is trading at $0.48 per token.

Dogecoin Price Prediction

Like many cryptocurrencies, Dogecoin price predictions can be found all over the internet. However, in truth, being able to predict the future value of Dogecoin based on fundamental and technical data is somewhat difficult. This is because many would argue that the digital currency is overly speculative.

how to buy dogecoin in australia

After all, much of the success that the Dogecoin price has experienced in 2021 is due to Elon Musk. It’s clear to see that when Dogecoin has enjoyed a rapid upward trajectory – this is in response to a positive mention by Musk – either through Twitter or in a TV interview.

Dogecoin to AUD

You might have noticed that throughout the above sections – we have discussed the Dogecoin price in terms of US dollars. This is the case across all digital assets – as USD is the global reserve currency. Nevertheless, if you are wondering how much Dogecoin is worth in AUD – then at current prices of USD$0.48, this amounts to AUD$0.62.

Investing in Dogecoin Stock vs Trading Dogecoin

A lot of inexperienced cryptocurrency investors are in the hunt for Dogecoin stock. However, there is no such thing as Dogecoin stock – as the asset is a digital currency.

With that said, the value of Dogecoin operates in a similar nature to traditional stocks, insofar that prices are dictated by market forces. In other words, if more people are buying Dogecoin than selling, naturally, its price will increase.

Best Dogecoin Wallets

When thinking about how to buy Dogecoin in Australia, you also need to consider how you intend on storing your digital tokens. As you might well know, all cryptocurrencies must be kept in digital wallets. This can come in the form of a mobile wallet, desktop wallet, web wallet, or hardware wallet.

If you’re wondering where to find the best Dogecoin wallets to store your digital tokens, check out the selection we have reviewed below.

eToro Dogecoin Wallet

eToro is not only the best online broker to buy Dogecoin, but it also offers the most notable storage facilities. In fact, eToro actually gives you two options when it comes to wallets. Firstly, and most convenient, is to keep your Dogecoin tokens in your eToro portfolio.

In doing so, they will remain safe and secure in the Dogecoin wallet controlled by eToro. Don’t forget, eToro is regulated by ASIC, so it is legally required to keep your investments safe.  The second option that you have is to use the eToro mobile wallet.

etoro dogecoin wallet

This wallet can be downloaded to your mobile phone and is compatible with both iOS and Android devices. the eToro wallet supports more than 120 popular cryptocurrencies – including Dogecoin. The eToro wallet also doubles up as a digital exchange. This is because you can convert one cryptocurrency into another without needing to leave the app.

Binance Dogecoin Wallet

You might also consider downloading the Trust Wallet, which is backed by Binance. Also available on iOS and Android devices, the Trust Wallet allows you to store your Dogecoin tokens in a decentralized manner. This means that you, and only you, will have access to your private keys.

This can be both a blessing and a curse. Regarding the former, you have 100% control over your digital tokens and thus – no third party can dictate what you do with them. However, this means that if you lose your private keys or your Trust Wallet is hacked, you will have nowhere to turn.

Alternatively, Binance also offers a web wallet. This is where your Dogecoin tokens will be sent by default once you make a purchase. By keeping your Dogecoin in your web wallet, you will benefit from the added convenience of being able to cash out at the click of a button.

Dogecoin Reddit – A Great Source of Further Information

If you’re looking for more information on the Dogecoin project or you simply want to be kept abreast of key developments, you might want to consider joining the Reddit group.

Here, you will find a significant number of like-minded Dogecoin investors – some of which have been involved in the project since it was first founded in 2013. At the time of writing, the Dogecoin Reddit group has almost 2 million subscribers.

eToro – Best Broker to Buy Dogecoin in Australia

This guide has walked you through the process of how to buy Dogecoin in Australia. We concluded that by using eToro, you’ll be able to buy DOGE tokens in the fastest and most cost-effective way possible. Most importantly, eToro is regulated by ASIC – so you know you are using a legitimate broker.

eToro - Our Recommended Australia Crypto Platform

eToro exchange
  • CySEC, FCA & ASIC regulated
  • Millions of Users Trading Crypto, Commodities, Stocks, Forex, ETFs
  • Zero Commission Fees, only Spread
  • Deposit via Debit or Credit card, Bank wire, Paypal, Skrill, Neteller
  • Free Copytrading of Professional Crypto Traders - 83.7% Average Yearly Profit
eToro exchange
67% of retail investors lose money when trading CFDs with this provider.

FAQs

Should I buy Dogecoin?

It can be tempting to jump on the bandwagon in the cryptocurrency arena - especially when you consider that Dogecoin has increased by thousands of percentage points in 2021 alone. However, whether or not you buy Dogecoin should be determined by your own independent research.

Where can I buy Dogecoin?

If you want to buy Dogecoin in Australia, you are advised to use an online broker that is regulated by ASIC. This is why we like eToro, as not only is the broker in possession of an ASIC license, but it offers super low fees. Another option to consider is Capital.com - which is also regulated by ASIC. This platform allows you to trade Dogecoin CFDs with leverage of 1:2.

How much is Dogecoin worth?

At the time of writing on May 17th 2021, the price of Dogecoin is USD$0.48 per token. This translates into approximately AUD$0.62.

How to sell Dogecoin?

When it comes to selling Dogecoin, the process will depend on where the tokens are currently being stored. If, for example, you bought the coins at eToro, it's just a case of clicking on the 'Sell' button from within your portfolio. The funds will be then be added to your cash account balance - which can then be withdrawn. However, if you are storing your tokens in a private Dogecoin wallet, you will first need to transfer them to an exchange to complete the sale.

What is Dogecoin mining?

Dogecoin, like the vast majority of digital currencies, operates on a decentralized network. This means that there isn't a centralized authority (like a bank) to verify transactions and keep the network safe. Instead, this role is taken by 'miners'. The main concept of Dogecoin mining is that you insert specialist hardware into a device, which then confirms transactions by solving cryptographic calculations. If your device is able to do this, then you will earn an allocation of Dogecoin.

Where can you buy Dogecoin stock?

We seem to get a lot of messages from our readers that are searching for Dogecoin stock. This is a misconception, as Dogecoin stock does not exist. Instead, Dogecoin is a cryptocurrency - much like Bitcoin, Litecoin, or Ethereum. If you come across a website that claims to be selling Dogecoin stock - this is most certainly a scam.

What is the Dogecoin all-time high?

Dogecoin last hit an all-time high in early May 2021 where the tokens breached USD$0.71 each. This amounts to approximately AUD$0.91 per Dogecoin token.