Dogecoin was one of the hottest cryptocurrencies of 2021 – not least because the digital asset was endorsed by Elon Musk throughout the year.
If you're wondering how to buy Dogecoin in a simple and cost-effective way – this guide is for you. We'll walk you through the process step-by-step by a low-cost and regulated online broker. How to Buy Dogecoin – Quick Steps
Follow the simple 4-step process below to learn how to buy Dogecoin with eToro – which allows you to invest from just $10 per trade.
Step 1: Open an eToro account – You can open an account with eToro in under five minutes by providing the broker with some personal and contact information.
Step 2: Deposit Money – Next, make a deposit of $50 or more to activate your eToro account. The fastest way to do this is to use a debit card.
Step 3: Search for Dogecoin – Find Dogecoin on the eToro platform by searching for the cryptocurrency. When you see DOGE appear, click 'Trade'.
Step 4: Buy Dogecoin – You can now enter the amount of money that you wish to allocate to Dogecoin. Finally, hit 'Open Trade' to complete your Dogecoin purchase.
At eToro, you can see that learning how to buy Dogecoin is super easy. Plus, you will only pay the spread when investing, so eToro offers one of the cheapest ways to buy Dogecoin online.
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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Dogecoin is now a major cryptocurrency in terms of market capitalization and mass awareness. As such, when thinking about where to buy Dogecoin online, you've got plenty of options on the table.
We found that the best place to buy Dogecoin in the US is the brokers reviewed below.
Our in-depth research found that eToro is by far the best place to buy Dogecoin in the US. At this top-rated platform – which is used by over 20 million investors and traders, you can buy Dogecoin on a spread-only basis. This means that you can invest in this digital asset with super low fees. Plus, you only need to risk a total of $10 to buy Dogecoin. eToro also has the eToro wallet which allows you to store your dogecoin and other cryptocurrencies in your crypto wallet.
At eToro, you will be able to trade in a safe and secure environment. The platform is regulated not only with the SEC, but bodies in the UK, Cyprus, and Australia. In addition to Dogecoin, you've got plenty of other crypto assets to invest in at this broker. Examples include buying Bitcoin, Ethereum, Cardano, and more.
To fund your eToro account and subsequently pay for your Dogecoin purchase, payment options include ACH, bank wires, and e-wallets like Paypal. However, the easiest way to deposit funds is via a debit/credit card. All payments in USD are free of any transaction charges. eToro offers Copy Trading tools and Smart Portfolios for those wishing to invest passively.
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Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
You might already be aware that Dogecoin is a highly speculative asset. And as such, you might want to consider keeping your stakes to a minimum. Webull is a top-rated broker in this respect, as you only need to buy $1 worth of Dogecoin to enter the market. And, considering that Dogecoin is trading at around $0.20 as of writing – this will still get you five tokens.
When it comes to fees, Webull operates a commission-free pricing structure across all of its supported assets. This includes stocks, ETFs, options, and of course – cryptocurrencies like Dogecoin. Once you have registered an account with Webull, you can deposit funds via ACH and bank wire. There is no minimum deposit to meet – which is also great for those on a budget.
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Although Binance operates on a global level across more than 100 million client accounts, it wasn't until recently that the popular exchange opened a US-specific subsidiary. Targeted exclusively at Americans, Binance US supports more than 50+ cryptocurrencies – including that of Dogecoin. The first step is to open a Binance account and upload some ID.
Once your account is verified, you can then buy Dogecoin with a debit card. This will cost you a very competitive 0.5%. When using the Binance US exchange to trade digital currencies, commissions amount to just 0.1%. However, we should note that various regulators are currently investigating Binance for operating without a license – so do bear this in mind.
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If you have considered the risks and wish to continue with an investment – this section will explain how to buy Dogecoin with USD in less than five minutes.
For this walkthrough, we'll show you the required steps with top-rated broker eToro.
To open an account with eToro, visit the broker's website and click on the 'Join Now' button.
You will then need to fill out the registration form – providing details such as your name, residential address, and date of birth.
eToro is regulated by the SEC and a member of FINRA. As such, you will need to upload a copy of your ID before proceeding with a deposit.
At eToro, you can deposit funds with a debit/credit card, ACH, bank wire, Paypal, and more. The minimum funding amount is $50.
To buy Dogecoin right now, enter 'DOGE' into the eToro search bar.
When you see DOGE appear, click on the 'Trade' button.
And finally, enter the amount of money you want to invest.
When you are ready to buy Dogecoin, click 'Open Trade'.
In terms of payment methods, there are many different ways to buy cryptocurrency and buying Dogecoin in the US. Have a think about which option is best for you by reviewing the sections below.
In the space of five minutes, you could buy Dogecoin with Paypal at eToro. After registering an account, you can select Paypal from the list of deposit options, alongside your desired amount. This needs to be at least $50 at eToro.
The process is fully-encrypted, so you can deposit funds with Paypal safely before proceeding to buy Dogecoin. Best of all, assuming your Paypal account is denominated in US dollars, eToro won't charge you any deposit fees.
If you want to buy Dogecoin with a credit card, eToro is also a great option here. The overarching reason for this is that most cryptocurrency exchanges charge at least 3% to use Visa or MasterCard.
Some exchanges that we came across charge as much as 10%. However, when you buy Dogecoin with a credit card at eToro, USD deposits will not attract a fee. Take note, you should tread with caution when buying cryptocurrencies on credit.
It might make more sense to buy Dogecoin with a debit card. After all, you won't be borrowing the funds from a credit card company. The actual payment process is much the same as buying goods online – insofar as you simply need to enter your debit card details.
Once confirmed, the payment will be processed instantly. Once again, eToro charges nothing on deposits made in USD.
A small number of people will also look to buy Dogecoin with Skrill, Neteller, or WebMoney. All of these e-wallets are supported on the eToro platform.
The only requirement you need to meet is that the minimum deposit is $50 for first-time customers.
Make no mistake about it – while all cryptocurrencies are risky, Dogecoin is potentially the most speculative out there. After all, the value of the digital currency was virtually worthless until Elon Musk started tweeting about Dogecoin in early 2021.
And as such, we would suggest researching the following key factors before you buy Dogecoin in the US.
In the first week of 2021, Dogecoin was trading at just $0.005 per token. By July of the same year, Dogecoin hit all-time highs of $0.73. This means that it took just seven months for Dogecoin investors to see financial returns of over 14,000%.
In other words, had you invested a mere $100 into this digital asset at the start of 2021, by July, your money would have been worth more than $14,000. With this in mind, such significant gains in such a short period of time is why Dogecoin has attracted so many new investors.
Since Dogecoin hit record highs in July 2021 of $0.73 per token, the digital asset has been on a downward trend. In fact, as of writing in early 2022, you can now buy a Dogecoin token for just $0.17.
Although at first glance this might concern you, oftentimes it is best to invest in an asset when it is going through a market dip. In other words, by purchasing Dogecoin at $0.17 as opposed to $0.73 – you are getting yourself a discount of over 76%.
It is interesting that some of the largest brokers in the US – including the likes of eToro, Webull, Robinhood, have since added Dogecoin to their list of supported markets. This in itself is a testament to just how much demand there is for Dogecoin in the US.
Moreover, from your perspective as a potential investor, it is good to know that you can buy Dogecoin in the US through a regulated and trusted platform – rather than an unlicensed exchange.
The simple answer here is never to invest more than you can afford to lose. That is to say when learning how to buy Dogecoin in the US, consider that you are buying an asset that is speculative, volatile, and extremely risky. When buying meme coins, one should consider the volatility. So if you're looking into other coins, or looking for how to buy Baby Doge Coin you need to be aware of that.
As we mentioned just a moment ago, Dogecoin has since gone from a price of $0.73 to just $0.17 as of writing, which translates into a loss of 76%
Cryptocurrencies like Dogecoin are traded on a global scale – so they are priced in US dollars. The price of the token is dependent on demand and supply.
In other words, when there are more buyers than sellers in the Dogecoin market, naturally, the value of the token will rise.
You can keep tabs on the price of Dogecoin via CoinMarketCap or through the portfolio section of your chosen broker.
It goes without saying that Dogecoin price predictions are a waste of time.
As we have noted several times, its extraordinary rise in 2021 was largely down to Elon Musk showing a great interest in the digital currency.
As such, any Dogecoin price predictions that you read are going to be pretty much worthless.
You should tread with caution when buying volatile and speculative assets like Dogecoin.
With that said, if you are ready to buy Dogecoin right now – eToro requires a minimum investment of just $10 – which is great for risk-management purposes.
You can deposit US dollars for free at eToro and even buy Dogecoin on a spread-only basis.
You can buy Dogecoin from eToro with a debit card in less than five minutes.
After opening a crypto broker account and making a deposit – you can proceed to buy Dogecoin.
Dogecoin is bought and sold on a speculative basis – with the aim of making money.
You cannot buy stocks in Dogecoin, as the asset is a cryptocurrency.
The best way to buy Dogecoin is by using an SEC-regulated broker like eToro.
Dogecoin could one day hit a dollar, but there is no knowing what the future truly holds for this speculative asset.
Dogecoin can go up as well as down in a parabolic manner in the space of a few days. As such, knowing when to buy Dogecoin is challenging.
You should only buy Dogecoin if you have considered the risk of financial loss.
Dogecoin is super volatile, so there is no way of knowing whether this crypto asset will even regain its former all-time high of $0.73.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.