Best Dogecoin Trading Platform in the UK

The peer-to-peer open source cryptocurrency of Dogecoin has already garnered much popularity within investor circles, peaking at 7 million Google searches in October 2021 according to a study. Top media outlets have tagged the crypto as the most Googled in the US, its popularity soaring far ahead of conventional investment vehicles.

A resurgence in attention now that in early 2022 Elon Musk announced Tesla will accept DOGE for merchandise purchases, has prompted traders to look for the best dogecoin trading platforms, which we’ll cover in this guide.

Investing in cryptocurrency is common these days, with a range of options available for retail investors in the United Kingdom and worldwide. When it comes to picking the best platform for trading Dogecoin, it is wise to go only for the most trusted and popular options – we review the top five options in this guide.

Dogecoin Trading Platforms in the UK – Top 5 List

Reviews of the Best DOGE Trading Platforms

Invented way back in 2013 by IBM software engineer Billy Markus and Adobe engineer Jackson Palmer, Dogecoin was surprisingly born out of a “joke”, as the duo envisioned the coin as a fun and friendly way to convey the novel concept of cryptocurrency to the masses. Fast forward a few years, and the people who invested in Dogecoin around six to eight years back have already turned into millionaires.

In case you too wish to try your luck and get a hang of one of the world’s most popular cryptocurrencies, below we review where you can do so.

eToro

Widely considered one of the best Dogecoin trading platform in the UK, eToro offers a transparent fee structure and a vast number of cryptos.

Past performance is not an indication of future results.

Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

• Investments on a ‘Spread’ Basis

When it comes to the fees for Dogecoin trading on the platform, investors are charged a ‘spread’. This begins at 0.75% and is uniform for trading any kind of cryptocurrency on the platform. Apart from Dogecoin, which is currently soaring the popularity charts in the UK, there are several other popular cryptocurrencies you can trade on eToro, including Bitcoin, Ripple, Ethereum, EOS, and Aave, to name a few.

• Features and Tools

Another highlight of using eToro as a Dogecoin trading platform in the UK is that it offers an array of passive trading tools, using which you can purchase and sell digital currencies in a single click. This includes the characteristic Copy Trading feature of eToro which connects you to thousands of investors and their trade moves. All you have to do its pick any investor of your choice and copy their future trades as and when you want.

The CryptoPortfolio by eToro is a diversified asset portfolio managed exclusively by eToro’s experienced team, which gives you access to a wide variety of crypto assets on the platform regularly rebalanced as per current market conditions. This gives investors in the UK a brilliant chance to diversify into more traditional asset classes as well, because they now have access to thousands of shares from not just UK but the world.

• Fees

It mandates a minimum first deposit of about £145. There’s also an FX fee of 0.5%. Apart from that a uniform spread charge of around 0.75% across all cryptocurrencies.

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OKEx

If investing in Dogecoins is not a long-term vision but a strategy for the short-term for you, look no further than OKEx as your trading platform of choice. The online trading platform offers a smart and suitable repository of more than 400+ pairs of digital currencies, encompassing not just crypto but also fiat markets. Therefore, you can easily trade Dogecoin against the likes of Bitcoin, Ethereum, and Tether quite conveniently and profitably on the OKEx trading platform.

OkEx Platform

Founded in 2017, with its headquarters in the Seychelles, OKEx has gained quite some popularity because of its vast portfolio of trading products and calls itself “the cryptocurrency exchange with the most options.”  Operating in more than 200 countries, the platform has hundreds of tokens on board and an increasing number of users interested in its spot, margin, options, perpetual swaps, DeFi  and mining services.

• Features and Tools

One of the highlights of OKEx is the wide variety of trading tools and features that the platform has to offer. The platform’s highlight is its fully customizable exchange ecosystem for traders at every level – beginners and veterans alike.

The hassle-free web-accessible trading platform comes with clean and intuitive dashboards, which make the entire trading experience using Dogecoin seem like a cakewalk. From viewing crypto prices in real-time to buying and selling Dogecoin in just a few clicks and setting up customized alerts for price changes on the coins you are interested in, OKEx also allows you to compare token process across exchanges and get a hold over volume data

• Fees and Charges

One of the biggest USPs of OKEx has to be its low trading fees. Impressively, the commission that you have to pay for Dogecoin trading against other digital assets like Bitcoins and Ethereum is just 0.1% on OKEx, which is quite low compared to the hefty fees charged by other platforms like Coinbase.

This very commission rate gets reduced even further if you are holding native OKEx tokens – the OKBs – or are trading larger amounts, thus making OKEx the perfect choice for veteran investors in cryptocurrencies.

Fees are, therefore, tiered based on your 3—day trading volume. While low volume accounts must pay a 0.15% maker fee and a 0.2% taker fee, active traders can enjoy as low as 0.02% maker fees and 0.05% taker fees on OKEx. There are daily updates in the fees facilitated by a transparent pricing chart that will help you determine exactly how much you have to pay across broker’s products and tokens.

• Payment Methods

OKEx allows investors to purchase Dogecoins using both their UK debit and credit card, or directly using pounds and pence – the choice is yours. However, the fees for investing in Dogecoin using fiat currency is higher compared to trading crypto pairs themselves. Besides, you will be asked to go through a somewhat elaborate KYC (know your customer) process for authorization and validation.

For this purpose, investors have to upload an identity proof, including passports, driving licenses, and so on. Once the verification process is complete, you can start trading Dogecoins either via the main OKEx website or even through the native application of the platform, compatible with both iOS and Android devices.

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Bybit

Bybit is an exceptional exchange for purchasing Dogecoin, offering a range of noteworthy features tailored to traders’ needs. The exchange has no minimum deposit amount for cryptocurrencies, except for Solana which is 0.01 SOL.

• Cryptocurrency Offerings

In addition to Dogecoin, Bybit provides an extensive selection of cryptocurrencies for trading. Users can access popular options like Bitcoin, Ethereum, Ripple, and more, allowing for diversified investment opportunities within a single platform.

• Features and Tools

Bybit excels in terms of user experience with its intuitive interface and advanced trading tools. Traders can leverage features like real-time market data, customizable charts, and trading indicators to make informed decisions and execute strategies effectively.

• Fees

Trading on Bybit incurs competitive fees, varying from 0.1% to 1%. This transparent fee structure allows traders to calculate their costs accurately.

• Security

Security is a top priority for Bybit. The platform incorporates industry-leading measures such as cold storage, two-factor authentication (2FA), and multi-signature wallets to safeguard users’ funds.

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Coinbase

Another Dogecoin trading platform that is considered one of the best in UK for beginners in the field, Coinbase is already quite popular around the world as a leading cryptocurrency exchange, regularly used by a whopping 56 million people. The parent company of Coinbase is now listed on the Nasdaq Exchange, just to give you an idea of its magnitude and success.

Dogecoin price chart on the Coinbase Platform

Interestingly, however, a large portion of Coinbase users are beginners in crypto trading, and are here to buy, sell, and trade these digital currencies as first timers.  The intuitive, beginner-friendly platform offers basic transactions, a digital wallet, and withdrawals to PayPal in a single click. The platform supports around 107 cryptocurrencies and comes with an array of enhanced security features.

• Ideal for Beginners

The reason behind the popularity of Coinbase among newbies is the incredible ease of use of the platform and easy navigation across features and functionality. You can easily deposit funds using your debit or credit card, although the process kicks off only after you have uploaded an identity of yourself along with a selfie holding the document yourself.

After this brief verification procedure, you are free to start purchasing Dogecoins instantly using a Visa or MasterCard. The overall process of registering and validating your account using an ID and starting to purchase DOGE tokens less than 10 minutes to complete.

• Fees and Charges

The hefty fees charged by Coinbase for Dogecoin trading is perhaps one of its biggest drawbacks, especially for beginners who might not want to spend so much money on overheads alone. Purchasing Dogecoins using your debit card, for instance, will lead you to pay a commission of 3.99%, just to give an example.

The standard trading fees across the crypto exchange is itself quite high at around 1.49%. Depositing funds into your Coinbase account via a local bank transfer in the UK, however, is completely free of charge. Coinbase is a popular trading platform not just for Dogecoins but also several other digital currencies, including large-cap coins like Ethereum and Ripple along with ERC-20 tokens. Using the Coinbase mobile app, you can also access your trading account from any place in the world.

• Safety and Security

Along with 2FA verification, the platform offers insurance for hot storage in case of any breach. Logins are protected by biometric fingerprint verification, and there is a distinct cold storage as well to safeguard your deposits. FDIC-insured USD balances and AES-256 encryption for digital wallets are other augmented features maximizing the security of the Coinbase platform.

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Binance

The one factor that lends Binance its unique edge among all cryptocurrency trading platforms listed in this article is the steep learning curve associated with it, which works well for advanced users. Therefore, if you are a crypto veteran seeking maximum features and tools besides hundreds of international currency trading options, Binance is the right platform for you.

Binance Platform

Despite such advancements, Binance is quite user-friendly, offering three levels of trading structured according to your trading experience. However, compared to more intuitive and simple platforms like Coinbase and OKEx, Binance might come across as slightly more complicated. Binance offers more than 500 cryptocurrencies for global traders on its platform, while other leading exchanges support only around 100-odd cryptos in comparison. The maximum trading amount on Binance, however, is limited based on the type of cryptocurrency purchased.

• Unmatched Breadth of Cryptocurrencies

The global cryptocurrency exchange application Binance supports a wide spectrum of cryptocurrency types, which has become its main selling point these days. You may choose to trade your Dogecoins for fiat or pick a digital currency out of Binance’s exhaustive list and make huge profits.

• Fees and Charges

Binance charges around 0.015% to 0.10% purchase and trading fees, comparatively much less than its rival Coinbase. For card purchases, however, the fee is quite close to its major competitor – 3.5% or $10, whichever is higher. Wire transfers are chargeable at the rate of $15 per US wire transfer.

However, the comprehensive charting options and hundreds of cryptocurrencies available to deal with more than make up for the heftier card transactions, along with the low standard fees to balance things out. There’s also 5% instant buy and sell fee and wire transfers at the rate of $15 each.

• Safety and Security

Trusted by millions of users worldwide, Binance proclaims its dedication towards “increasing the freedom of money for users” through its incredibly safe and secure ecosystem. Along with 2FA verification and FDIC-insured USD balances, device management and address whitelisting, Binance also provides the feature of cold storage for safeguarding your digital assets against external attacks.

The platform also supports a wide array of transaction types enabled by its extremely secure ecosystem, including limit order, market order, stop-limit order, trailing stop order, post only order, peer-to-peer trading, margin trading, one-cancels-the-other order, and more.

The USP of Binance, however, lies beyond its safe and secure ecosystem and onto its unique features, as listed below.

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Uphold

Uphold offers flexibility to Dogecoin traders by offering both a desktop and a smartphone application-based trading experience, both of which are intuitive and easily navigable. The best part about these platforms is their modern look and feel, with clarity of options and direction making the trading experience much more enjoyable.

Uphold Platform

• The Trading Experience

Users also have the option to customize the trading experience entirely using assets that they trade the most. The ease of use of the platform allows you to make trades in a couple of clicks directly from your deposit method, a feature they like to call one-step ordering.

Imagine not having to wait for funds to get cleared from your account after a drag – this is the kind of innovation that Uphold brings to the table, enhancing their platform’s usability and convenience by miles.

• Investment Products

This is one area where Uphold outshines most of the rest, with a promising array of 40+ cryptocurrencies, stocks, and precious metals at some of the lowest rates across platforms. The diverse trading platform comes with the added ability to trade across asset classes directly, allowing you to trade Dogecoin for Gold, and so on.

You can use your bank account, digital wallet, debit, and credit card for such transactions. This direct trading and automatic conversions feature help save your time, money, as well as fees compared to other trading platforms.

• Fees and charges

The platform operates on a commission-free basis, which means there is only charges for a spread. Also the spreads start from 0.2% for forex currencies, 0.8% to 1.2% for standard trading, 1% on equities and 1,05% to 3.95% on precious metals.

• Safety and Security

Uphold has not been in the game for long and has joined the industry only in 2014, but they haven’t been subject to any major accidents or complaints so far, in contrast to leading names like Binance that have been caught up in controversies quite a few times. Funds, however, do not appear to be FDIC or SIPC insured, making it more of a challenge in case you run into any issues. However, the 1-million-strong customer base using the platform does not seem to be complaining about this shortcoming.

The platform always ensures provision of updated and secure encryption protocols to enhance transactional security, including digital wallet storage. Uphold uses Plaid to connect and complete bank transactions, for which it does not charge any extra fees.

With its presence in over 180 countries and among 1.5 million+ users, Uphold already comes across as a credible and trustworthy platform to begin trading in Dogecoin with.

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How We Ranked the Best UK Dogecoin Trading Platforms

Trading Tools and Features

No matter how often you trade and how experienced you are with the nuisances of crypto trading, it is always important to have access to a platform that comes with intuitive trading tools and features to help simplify and ease the process for you.

A smart trading platform with the right tools and features will enable smarter trading decisions in the long run. Therefore, to be able to adjudge and shortlist the best Dogecoin trading platform in the UK, we paid special emphasis to trading tools and features that give clear directions ahead, along with insights for better purchase and sell decisions.

All the five platforms listed above come with this ability, giving investors more from their online trading initiative with powerful, intuitive, and opportunistic platforms for quicker, easier, profitable trades.

Regulation and Safety

Though regulations on the purchase, sale and trade of cryptocurrencies vary from region to region, it would not be inaccurate to say that the “decentralized” digital currency does not enjoy complete freedom from compliances. Therefore, it is important to keep a tab on platforms that are favored by regulatory agencies and their laws, especially in the UK.

For instance, Binance was caught up in some trouble in the US due to regulatory issues but has not faced any such challenge in the UK so far, making it an encouraging choice for investors here.

Fees and Commissions

Yes, cryptocurrencies are already soaring in terms of prices, and are generally considered a smart investment if you are eyeing huge profits over the long term. However, different crypto trading platforms charge different rates of fees and commissions, some being ridiculously high if you are investing with a short-term strategy.

We have curated our Dogecoin trading platform reviews based on a comparison of fees and commissions charged by each and tried to paint a balanced picture for all budgets.

Deposit Methods

Considering the expansion of digital currencies and proliferation of payment methods, the range and variety of deposit mechanisms supported by trading platforms was considered an important parameter for ranking them.

The best Dogecoin trading platform must, after all, support various types of payment methods like debit and credit cards, bank transfer in the UK, wire transfers, fiat, and crypto exchange, and so on, at reasonable rates.

Variety of Cryptocurrencies

The more the number of options for trading Dogecoin, the better the avenues may seem for an investor. It is here that the variety of cryptocurrencies available for exchange on the platform in question assume massive significance.

Overall User Experience

Lastly, it is the overall user experience and ease of navigation of a trading platform that guides a user’s overall activity on it. The best Dogecoin trading platforms are those that are intuitive, easily navigable with smart UI/UX design, intelligent graphics, innovative and user-friendly features, to name a few.

How to Trade Dogecoin in the UK

If you have outlined the choice of trading platform for yourself based on our detailed review, it is time that you hop on to further insights on how to start trading Dogecoins in the UK. We have chosen the easy to use and friendly Dogecoin trading platform eToro for the purpose. Here’s what you need to do once you are on its website.

Step 1: Open a Dogecoin Trading Account

If you would like to purchase and trade Dogecoin in the UK using eToro, the first step is to sign up and create a trading account for yourself on the platform. All that you need to do is enter a username for yourself along with your email address and set up a unique password for your account that contains 6-20 characters, with at least one capitalized letter, number, or symbol.

CopyTrade and other features on eToro

Once you have created a strong password for the account, you need to accept the terms and conditions of eToro Europe Ltd besides acknowledging that the information you have shared with them can be used in accordance with their Privacy and Cookie policy, that you are free to go through. Just click on the checkboxes to agree to these conditions, followed by clicking on the “Create Account” button, and you are good to go.

Step 2: Deposit Trading Funds

To be able to start trading Dogecoins, you first need to equip your account with the requisite amount of funds. Funding your account is quick and there are various payment methods at your disposal to do the same. Just log in to your account, click on “Deposit Funds” menu, enter the amount and select the currency and finally the preferred deposit method to get going.

Step 3: Search for Dogecoin or DOGE

To start trading in Dogecoin after you have the funds, head over to the Crypto Assets catalogue, and select Dogecoin from the expansive list. You can even look for DOGE in the search bar and end up at the dedicated page for Dogecoin Trading on eToro.

Step 4: Place Dogecoin Trade

Select “Trade” once you have picked Dogecoin out of the list of cryptoassets and select “BUY”. Ensure that the leverage is set to X1, enter the amount or number of units you wish to trade, select the profit parameter if you want to, and click on the Open Trade option. You can even SELL using the same process as highlighted and set the stop loss, leverage, and take profit parameters as per your liking instead.

Buy Dogecoin on eToro

Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.

Conclusion

The mighty popular crypto Dogecoin has grown from strength to strength over the past many months, and there are several factors behind this surge. Quite recently, a series of tweets by Tesla CEO Elon Musk spurred DOGE prices across chains. Dogecoin may have started as a joke as they say, but its soaring figures are dead serious.

Viewing the current climate, it would be a wise decision on part of investors to place their bets on this increasingly popular cryptocurrency, its value having risen by more than 14,000% in the first four months of 2021 alone. The availability of the crypto having widened, you can immediately seek the best Dogecoin trading platform in the UK and get into the game right away.

A common practice among Bitcoin traders is to open multiple accounts across different crypto exchanges, as each comes with its unique set of features, just like we have highlighted in our in-depth review of the best Dogecoin trading platforms above.

While eToro and Coinbase are the best for trading your purchased Dogecoins into Fiat, OKEx is great for long-term investments at lesser fees, and Binance and OKEx, with their more advanced features, offer the benefits of leverage trading. Having several separate accounts for trading Dogecoin will also be a much safer option, as then all your funds are not stuck in one place.

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