How to Buy Dogecoin – Invest with Low Fees Today

Dogecoin is one of the most popular cryptocurrencies today. The asset became especially popular in 2021, thanks to impressive price gains sparked by the attention of billionaire Elon Musk. In December 2021, Elon Musk tweeted that ‘Tesla will make some merch buyable with Doge and see how it goes‘. In January 2022, Musk confirmed on Twitter that Tesla will accept Dogecoin for buying merchandise.

Then in April 2022 the DOGE price moved up over 30% in a day when it was announced Elon Musk would buy Twitter for $44bn. DOGE investors are optimistic crypto will be integrated into the social media platform in some way and raise more awareness of the meme coin and digital currencies.

Now, many people want to buy Dogecoin or at least trade the pumps. This guide unpacks everything there is to know on Dogecoin and the best places to buy DOGE online, whether for short-term trading or long-term investment.

How to Buy Dogecoin – Quick Guide

Want to learn how to buy Dogecoin right away? Just follow these quick steps to buy Dogecoin instantly.

Best Place to Buy Dogecoin in February 2023

How to Buy Dogecoin – eToro Tutorial

Looking for a more comprehensive walkthrough of how to buy Dogecoin online? If so, the section below will show you exactly what you need to do to get your hands on DOGE in the safest and most cost-effective way possible.

Step 1: Open an Account

To open an eToro account, head to eToro’s website and click ‘Join Now’ at the top of the homepage. Enter your email address and a password, and then click on the link in the email that is sent to you to verify your email address.   

Your capital is at risk

On the next page, you will then be asked for additional personal information – such as your country of residence, home address, date of birth, and national tax number. eToro will send an SMS to your mobile phone for verification.

Step 2: Upload ID

eToro requires you to verify your identity in order to comply with local regulatory laws. As such, you will need to have your identity verified. You can actually complete this step at a later date – but it does need to be done before you are able to:

• Deposit more than $2,250
• Make a withdrawal

With this in mind, it’s best to quickly upload the required documents now to avoid any delays in the future.

This requires a copy of your:

• Passport, driver’s license, or national ID card
• Utility bill or bank account statement issued within the last 3 months

In most cases, eToro will authenticate your documents straight away and subsequently remove all account restrictions.

Step 3: Make a Deposit

eToro doesn’t offer direct Dogecoin purchases – meaning that you will first need to deposit some funds. Apart from a bank transfer, all deposit methods are credited to your account instantly.

You can choose from:

• Debit/credit card (Visa, MasterCard, Maestro)
• Paypal
• Skrill
• Neteller
• Local bank transfer (country-specific)
• International bank wire

In terms of fees, eToro charges just 0.5% on deposits – irrespective of the payment method. This is much cheaper than some of its main competitors, with the likes of Coinbase charging 3.99% to buy crypto with a debit card.

Furthermore, if you are a US resident depositing funds with a USD-backed payment method, there is no transaction fee at all. In terms of the minimum deposit, this stands at $50 for US residents and $200 for most other countries.

Step 4: Search for Dogecoin

At this stage of our step-by-step guide, you should now have an eToro account that is funded. Now it’s time to buy Dogecoin. The easiest way of doing this is to enter ‘DOGE’ into the search box at the top of the page.

Then, you’ll need to click on the ‘Trade’ button to open up an order box.

Step 5: Buy Dogecoin

You can now buy Dogecoin by entering the size of your stake into the ‘Amount’ box($25 minimum).

Finally, click on the ‘Open Trade’ button to complete your investment.

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