Dogecoin core.12/26/2023 ![]() Once you place the order, it should go through immediately. Then pick your trade type and input either the dollar amount you want to invest or specify how many Dogecoins you want to buy. On the exchange’s trading or purchase platform, search for Dogecoin or enter its ticker symbol: DOGE. Once your money is in your account, you can purchase Dogecoin. That’s why experts generally encourage people to avoid buying crypto this way. This can make investing in crypto even pricier and riskier. Before using a card to finance your crypto purchases, keep in mind that your credit card company will consider the money to be a cash advance and charge added fees and a higher APR. Note: A few exchanges allow you to use a credit card to buy Dogecoin and other cryptocurrencies. If you deposited a large amount of money-typically more than $1,000-you may have to wait a few days for the transfer to clear before you can use the entire deposit. Typically, you get instant access to a portion of the money of your deposit for trading. Some accept wire transfers and PayPal transfers. In most cases, the exchanges will let you deposit money from a checking or savings account. Select a Payment Optionīefore you can begin trading cryptocurrencies, you must deposit money in your exchange or brokerage account. Make sure any exchange you’re considering has DOGE available for purchase if you wish to buy it. All of this is to say if you even think you might want to move your coins to a separate wallet, you’re probably better off starting with an exchange.Īn important note: While Dogecoin has become much more popular recently, it is not universally available on all crypto exchanges. In order to do that with a brokerage app like Robinhood, you’d have to sell your coins and then rebuy them on an exchange to move them to a separate wallet, which kind of defeats the purpose of buying them with an investment app in the first place. Some investors prefer to move their crypto into separate crypto wallets to protect their coins from hackers. You can also purchase crypto through beginner-friendly investment apps like Robinhood, but keep in mind that these may not let you transfer your coins off of the app. Popular exchanges include Coinbase, Binance.US and Kraken, all of which offer a simple, easy-to-use platform that charges higher fees as well as a more advanced trader platform with lower fees. To purchase Dogecoin, you’ll need to open an account with a cryptocurrency exchange, where buyers and sellers meet to exchange cryptocurrency for dollars. Experts don’t recommend you invest more than you’re willing to lose with cryptocurrencies in general. When deciding how much to invest, consider your overall financial situation, investment portfolio and risk tolerance. This creates scarcity, which helps coins retain their value. That’s in stark contrast to other major cryptocurrencies like Bitcoin, which have caps on how many coins are issued. In fact, the limit on the number of Dogecoins was expressly removed by one of its creators to discourage people holding onto it long term. Otherwise, the supply of DOGE rises rapidly and diminishes the value of all the coins already in circulation (think inflation on steroids). Here’s how that works: For Dogecoin’s price to increase or even remain steady, investors have to buy more coins continually. Cryptocurrencies are very risky investments, and Dogecoin is uniquely volatile because it has an unlimited supply. While there are viral stories of people who invested trivial amounts in DOGE but are now millionaires, invest with caution. Consider How Much You Want to Invest in Dogecoin If you’re wondering how to buy Dogecoin, here’s what you need to know. While its price has been wildly volatile, with a massive drop in mid 2021 from its all-time high of just over 70 cents per coin, Dogecoin continues to be a popular crypto option. Everyone from Elon Musk to Mark Cuban has voiced their enthusiasm for the original meme cryptocurrency, setting it on a meteoric rise of more than 7,000% over the first half of 2021. Every dog has its day, and in the world of cryptocurrencies the luckiest dog recently has been Dogecoin.
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