The majority of the investors love to invest money in Dogecoin. It has become one of the most popular cryptocurrencies, and you will find billionaires like Mark Cuban & Elon Musk are also supporting such incredible cryptocurrency. You will find early investors have earned a considerable amount of money from Dogecoin. Such cryptocurrency launched in 2013, but it has gained cult status. You will find enthusiasts are also declaring themselves #DogecoinArmy.
Investors who have bought Dogecoin before 2022 have experienced the value of their investment increased by almost 7000%. Keep in mind that this cryptocurrency also comes with big risks too. By the end of 2022, Dogecoin dropped by 14 cents. However, if you are already searching how to buy doge coin, then you have come to the perfect place because we are providing proper information about it.
You don’t have to be investing more than you can afford to lose money in Dogecoin. If you are one who is ready, then here is how you will surely be able to get your paws on the Dogecoin.
5 Important steps on how to buy doge coin!
You will be able to purchase the Dogecoin by creating an account with certified & trustworthy cryptocurrency exchanges like Coinbase, Binance US & Kraken. Investors can also get access to Dogecoin via popular investment applications like Webull, SoFi & Robinhood. If you also want to know how to buy doge coin, then you must pay attention to the following five important steps.
Make a decision on how much you can easily invest in Dogecoin.
The majority of the financial planners never recommend to any investor to invest more than 3% to 5% of your money in the Dogecoin or a specific amount that you are already willing to lose. Cryptocurrencies are really risky; however, it is a highly volatile asset where you need to analyze everything before investing money in them. Following are a few steps that you need to consider while deciding how much you can invest in Dogecoin.
Dogecoin is completely different from stock or bond because it will not be able to pay interest or dividends. However, there isn’t any limit on how Dogecoins can actually be mined. More than 100 billion Dogecoins are available in the market.
Choose the right investing app or crypto exchange
Every investor must find out right cryptocurrency exchange that is one of the most straightforward ways to buy Dogecoin, Ethereum, Bitcoin & other cryptocurrencies. A crypto exchange is considered as one of the great marketplaces where investors can quickly purchase, swap & sell cryptocurrencies.
The majority of the biggest cryptocurrency exchanges like Gemini& Coinbase also offer access to Dogecoin. You will be able to buy Dogecoin by downloading investing applications like Webull or Robinhood. This can be a great option in you really want to purchase the cryptocurrency & after that, sell for the profit in cash.
Bear in mind that you will be able to purchase a few cryptocurrencies on the PayPal app, but you will not be able to purchase Dogecoin via the PayPal application.
Open account & add funds
You will be able to sign up for the account using the brokerage or cryptocurrency exchange online in a fraction of minutes. The sign-up process is completely straightforward, but you will have to give the following important information/
- Full Name
- Date of Birth
- Email address
- Phone Number
- Home address
- Social Security Number
- Driver’s license, other government issue ID or passport
- Routing numbers or Bank accounts if you are making the use of a checking account to deposit the money in your crypto account.
After completing the registration of a cryptocurrency account then, you must make use of a checking account to deposit the money that you will surely use to purchase your favorite cryptocurrency. If you are using the bank transfer method, then it will take almost 3 to 4 business days.
You will find so many cryptocurrency exchanges are out there that will always let you use your credit card to purchase cryptocurrency, but this is a little bit risky.
Place the order for Dogecoin.
If you are one who wants to buy Dogecoin, then you will have to log into the certified or reputed brokerage account or cryptocurrency exchange. Find out the search bar & after that, you must type the DOGE or Dogecoin. If you have got the Dogecoin, then you must add the dollar amount you want to invest or the number of Dogecoins that you want to purchase.
After that, one must click on the buy button or order button, and after that, you must finalize the transaction. Moreover, bear in mind that your crypto exchange or broker will surely charge the trading fees for selling or buying the cryptocurrency. However, there are so many investing applications are out there that offer crypto’s like Webull & Robinhood features commission-free crypto trades.
Choose the right crypto wallet
For more security & flexibility, the majority of the cryptocurrency enthusiasts are continually moving their Dogecoins into the crypto wallet outside one offered by the certified or reputed cryptocurrency exchanges or brokerage platform.
Make sure that you are using the right cryptocurrency wallet. Crypto wallets are physical devices or software that is packed with passwords or keys that will surely be able to give you access to the balance of cryptocurrency on the blockchain.
However, cryptocurrency wallet manufacturers are continually offering the next level of protection than brokerages or exchanges do. Moreover, a lot of cryptocurrency exchanges are also featuring different kinds of insurance to protect the holding of cryptocurrency. Therefore, it is your responsibility to choose a safe and secure cryptocurrency wallet where you can keep the Doge coins.
Moving Further, in this article, we have covered how to buy doge coin, and if you need more information about the cryptocurrency world, then it is your responsibility to check 5minutecoins.com.