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Ever since the beginning of 2021, Dogecoin has recorded a stellar performance that caught the eye of almost every crypto enthusiast in the community. Although there have been some ups and downs in recent months, investors continue purchasing Dogecoin as much as ever.
While there are plenty of different ways you can invest in Dogecoin, in this article we will focus on one of the most popular payment methods in the world – PayPal.
Let's review some of the basic features of this interesting crypto and explain how to buy Dogecoin with PayPal.
In case you don't have enough time to go through our entire guide, here is a quick outline of how you can buy Dogecoin via PayPal.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Dogecoin is often regarded as the 'leader' of meme coins. It was launched in 2013 as a P2P, open-source currency. Interestingly, the main idea behind it was for it to serve as a 'sarcastic' alternative to Bitcoin.
Both the name and logo of Dogecoin are based on the Shiba Inu dog, one of the most popular internet memes.
Even though the project started out as a joke, there are certain use cases when it comes to its blockchain. For example, unlimited supply and low price are interesting advantages.
While the first few years of Dogecoin didn't show much promise, things changed in 2021 when the price of a single token abruptly skyrocketed. This was mostly due to the endorsements made by influential entrepreneurs like Elon Musk, Mark Cuban, and Snoop Dogg.
The price of Dogecoin reached its all-time high in May 2021, but since then it went through a series of reductions. Nonetheless, the developers have announced some pretty exciting plans for 2022 which attracted a lot of investors looking to make a profit in the following months.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Since Dogecoin is essentially a meme coin that doesn't bring much utility to holders, the growth of this currency will mostly depend on the amount of support it will receive from influential figures on social media.
However, as we said, the developers have announced the release of several new features that would enhance the utility of the token. For example, one of the primary goals is to make Dogecoin a suitable payment alternative for users anywhere in the world.
Also, Elon Musk has reported that his company will be launching a Dogecoin-funded space mission somewhere in the first half of 2022, which will inevitably raise its value.
With this said, a reasonable Dogecoin price prediction for 2022 would be to end the year somewhere around a $0.3 mark.
For the long term, we can expect Dogecoin to reach an all-time high of $2.5 to $3 in the next few years, most likely by the end of 2026.
Of course, all of this will depend on the crypto market volatility and whether any new significant impacts occur. For example, the Coronavirus was something that no expert could have predicted.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
When buying Dogecoin, users have tons of different payment methods to choose from. However, there are certain benefits of buying DOGE with PayPal that other options simply don't include.
Let's review these benefits.
The main advantage of PayPal is that users can make deposits and withdrawals almost instantaneously. For the fast-paced world of crypto, many traders find this feature immensely important, especially when they notice new opportunities and want to take advantage of them immediately.
One of PayPal's main trademarks throughout the years has been the stellar security measures. The high-quality data encryption system makes accounts hack-proof.
With the 25+ currencies supported on PayPal, users have a lot of flexibility when it comes to purchasing Dogecoin in a cost-efficient way. PayPal makes it easy to receive payments in dollars and then exchange them for euros, with only a few clicks of a button.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Considering the fact that PayPal is one of the most popular online payment platforms, it's not surprising that almost every crypto exchange features it. However, not all exchanges offer the same commodities. For more detailed information, read this amazing guide on how to buy dogecoin 2022.
Here is a list of the best crypto exchanges you can use to buy Dogecoin with PayPal.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
When it comes to features, fees, and other factors, eToro stands out as by far the best crypto exchange platform.
In terms of security, eToro is regulated by some of the leading bodies like FinCEN, FCA, CySEC, FINRA, and ASIC.
However, the main benefit of eToro is the ridiculously low fees. The platform incorporates a spread-based system which means no transaction fees are charged for opening a trade. For doge trading, both parties pay a small amount, which is around 0.75%.
Not only that, but deposits are also free with the minimum deposit being $50 for new users – a very low price compared to the industry average.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
The second best platform for buying DOGE with PayPal is Binance. With the largest asset collection in the industry, users can choose from over 500 hundred crypto assets to invest in.
There are also a lot of advanced features such as charting tools and technical price indicators. However, when it comes to fees and security, Binance doesn't offer many advantages compared to eToro.
For beginners that are looking for educational resources on how to begin crypto trading, Coinbase may be the ideal solution. With over a hundred reading materials and video guides, there aren't many platforms that can compare with Coinbase in this regard.
The main downside of Coinbase is the price. Aside from the fixed spread fee for DOGE transactions, the platform also charges a flat fee that is based on the users' trading volume.
Lastly, let's go through a more detailed guide on how to buy Dogecoin with PayPal. As we said, eToro is the best option for this endeavor and it's the crypto exchange our guide will focus on.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Here are the steps you can follow to buy Dogecoin with PayPal in no time.
If you don't already have an eToro account, you can go to their official website and click 'Join Now' to create one.
Fill in the personal details such as your name, phone number, address, birth date, and provide a valid email.
The platform is very strict about AML regulations, which is why you will also need to upload a photocopy of your driver's licence or passport in the 'Complete Profile' menu to verify the account.
Verification takes only a couple of minutes and then you will be ready to start.
Open up eToro's main dashboard and click on 'Deposit'. Select PayPal as your desired payment method, which you can find in the small drop-down menu on the right corner of the screen.
You will see detailed instructions that you should follow in order to connect your PayPal account to eToro. After you complete this, you can type in the amount of money you want to transfer (the minimum is $50).
The final step – buying your first DOGE!
Use the search bar in the left corner and type in 'Dogecoin' to find the token. Next, click on 'Trade' and type in the exact amount of DOGE you want to buy (the minimum is $10).
Double-check whether everything is correct and finalize the purchase by clicking 'Open Trade'.
Finding the right way to buy Dogecoin with PayPal can sometimes be a bit confusing, especially if you are a beginner trader. We hope this guide helped you through the whole process and that by now you have successfully purchased your first DOGE token.
While it isn't hard to find a platform that incorporates PayPal for Dogecoin purchases, it does take quite some time to discover the one with the best offers.
Considering all the different factors, we recommend that you make the purchase through eToro. As one of the leading crypto exchange platforms in the industry, eToro can be used by both new and experienced traders.
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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.
