Are you ready to dive into the exciting cryptocurrency world and try your luck with some Dogecoin?
You’ve come to the right page. In this guide, I’ll walk you through the steps to buy Dogecoin on the best crypto exchanges. We will also cover some helpful tips to help you make the most of your DOGE, like trading and investing.
It’s time to find out more about this fascinating coin and maximize its potential for gains.
Disclaimer: The content presented on this page serves solely for educational purposes. We do not provide advisory or brokerage services. We also don’t endorse or recommend investors to buy or sell cryptocurrencies.
Best Dogecoin Exchanges in 2023
- Coinbase – Best for beginners and user-friendly interface
- Binance – Best for advanced traders and low fees
- Kraken – Best for security and high trading volume
- Gemini – Best for customer support and regulatory compliance
- Bitfinex – Best for margin trading and liquidity
Review of our Top 5 DOGE Exchanges
1. Coinbase Exchange Review
- Overview: Coinbase is a US-based cryptocurrency exchange founded in 2012 and headquartered in San Francisco, California. It is one of the most liquid regulated crypto spot exchanges in the world, with approximately 108 million verified users and 245,000 ecosystem partners in over 100 countries
- Tradable coins: Coinbase offers over 200 tradable coins, including Dogecoin, Bitcoin, Ethereum, and Litecoin
- Fees: Coinbase charges a dynamic fee structure for high-volume trading, which can be as low as 0.04% for takers and 0.00% for makers. However, Coinbase has been criticized for its high fees, which can be difficult to understand and compare with competitors
- Pros:
- User-friendly interface, making it a great option for beginners
- High liquidity and deep pool of liquidity
- Offers a wide variety of options for users from beginners to advanced traders
- Cons:
- High fees compared to some competitors
- Has been the focus of regulatory efforts to rein in the industry
2. Binance Exchange Review
- Overview: Binance is a global cryptocurrency exchange founded in 2017 and headquartered in Malta. It is the world’s biggest bitcoin exchange and altcoin crypto exchange in the world by volume, with a 24-hour trading volume of $38 billion
- Tradable coins: Binance offers over 350 cryptocurrencies for trading, including Dogecoin, Bitcoin, Ethereum, and Binance Coin
- Fees: Binance charges a flat trading fee of 0.1%, which can be reduced by 25% if paid with Binance Coin. This fee structure is considered low compared to some competitors
- Pros:
- Low trading fees
- High trading volume and liquidity
- Offers a wide range of cryptocurrencies for trading
- Cons:
- Has been criticized for its customer support
- Has been the target of regulatory scrutiny in some countries
3. Kraken Exchange Review
- Overview: Kraken is a US-based cryptocurrency exchange founded in 2011 and headquartered in San Francisco, California. It is known for its high security and has never been hacked. Kraken is also one of the largest Bitcoin exchanges in terms of euro volume and liquidity
- Tradable coins: Kraken offers over 70 cryptocurrencies for trading, including Dogecoin, Bitcoin, Ethereum, and Litecoin
- Fees: Kraken charges a maker-taker fee structure, with fees ranging from 0% to 0.26% depending on the trading volume and currency pair. Kraken’s fee structure is considered competitive compared to some competitors
- Pros:
- High security and has never been hacked
- High trading volume and liquidity
- Competitive fee structure
- Cons:
- Can be difficult to use for beginners
- Has been criticized for its customer support
4. Gemini Exchange Review
- Overview: Gemini is a US-based cryptocurrency exchange founded in 2014 and headquartered in New York City. It is known for its regulatory compliance and has obtained a BitLicense from the New York State Department of Financial Services
- Tradable coins: Gemini offers over 40 cryptocurrencies for trading, including Dogecoin, Bitcoin, Ethereum, and Litecoin
- Fees: Gemini charges a maker-taker fee structure, with fees ranging from 0.35% to 0.25% depending on the trading volume and currency pair. Gemini’s fee structure is considered competitive compared to some competitors
- Pros:
- High regulatory compliance and security
- Offers a wide range of cryptocurrencies for trading
- Offers a mobile app for trading on the go
- Cons:
- Has been criticized for its customer support
- Limited payment options compared to some competitors
5. Bitfinex Exchange Review
- Overview: Bitfinex is a cryptocurrency exchange founded in 2012 and headquartered in Hong Kong. It is known for its margin trading and liquidity
- Tradable coins: Bitfinex offers over 100 cryptocurrencies for trading, including Dogecoin, Bitcoin, Ethereum, and Litecoin
- Fees: Bitfinex charges a maker-taker fee structure, with fees ranging from 0.1% to 0.2% depending on the trading volume and currency pair. Bitfinex’s fee structure is considered competitive compared to some competitors
- Pros:
- High liquidity and deep pool of liquidity
- Offers a wide range of cryptocurrencies for trading
- Offers margin trading
- Cons:
- Has been the target of regulatory scrutiny in some countries
- Has been hacked in the past
Choosing the Best DOGE Exchange
Finding the best exchange is like finding the perfect pair of shoes; it has to fit just right. There are many online exchanges where you can buy, sell, and trade Dogecoin.
However, these exchanges often have different trading features, supported cryptos, and regulations. In this sense, it is important that you choose an exchange that best suits your preference.
Our top choice
Binance is our preferred choice for a number of reasons. First, Binance is one of the largest and most popular crypto exchanges globally. It offers a wide range of cryptocurrencies for trading at competitive fees. This makes it a great option for beginners.
The site also has advanced trading features for professional users. In addition, it has a native token called Binance Coin (BNB).
While Binance is our top pick, other exchanges like Kraken also offer competitive features. Kraken, for instance, is renowned for its strong security measures and excellent customer service.
Choosing a Payment Method
So you’ve chosen your preferred exchange. The next step is to create an account and fund it. The best Dogecoin exchange supports a variety of payment methods. Here are some popular payment methods you can use:
E-Wallets: Convenient and easy-to-use e-Wallets like PayPal and Skrill are commonly accepted on many exchanges. They provide a quick way to fund your account.
Bank transfers: This is a classic and secure option. Bank transfers allow you to link your bank account to the exchange and transfer funds directly. Keep in mind that it might take a few business days for the transfer to complete.
Credit/debit cards: Fast and widely used, credit and debit cards are accepted on most exchanges. Visa and Mastercard are the commonly accepted credit cards at top DOGE exchanges.
Other cryptocurrencies: Some exchanges allow you to use other coins that you already own to purchase Dogecoin. This is a great option if you’re holding other cryptos like Ethereum or Bitcoin and want to diversify your portfolio.
Placing Your Buy Order
With funds in your account, it’s time to place an order to buy Dogecoin. You can choose between a market order or a limit order. A market order means that you are willing to buy DOGE at the current market price, while a limit order allows you to set the price at which you want to buy. Below are the steps to follow;
Step 1: Sign up and verify
If you haven’t already, create an account on your chosen exchange and complete the verification process. This step ensures the security of your account and complies with regulatory requirements.
Step 2: Deposit funds
Once your account is verified, deposit funds using your chosen payment method. Ensure that you have enough funds to buy the amount of Dogecoin you want.
Step 3: Find Dogecoin
After funding your account, search for Dogecoin (DOGE) on the exchange’s trading platform.
Step 4: Select the order type
Decide whether you want to place a market order or a limit order.
Step 5: Review and confirm
Double-check all the details, including the quantity of Dogecoin you want to buy, and then confirm your order.
Congratulations! You’ve successfully placed your buy order for Dogecoin. The purchased DOGE will be added to your exchange wallet.
How to Store Your Dogecoin
Now that you’ve got your Dogecoins, you need a safe place to store them.
There are several options for storing Dogecoin: hardware, software, and paper wallets.
Hardware wallets: These are considered one of the safest options. Hardware wallets are physical devices that store your cryptocurrencies offline. They protect your assets against hacking and malware attacks, making them ideal for long-term storage.
Software wallets: Software wallets, also known as hot wallets, are applications you can install on your computer or smartphone. They offer easy accessibility, but are more susceptible to security breaches than hardware wallets.
Paper wallets: A paper wallet is a physical document that contains your public and private keys. It’s completely offline, providing high security if generated and stored correctly.
Remember to keep your wallet’s private keys confidential and back up your wallet information in a secure location to avoid any potential loss of funds.
How to Use Dogecoin
Alright, so you’ve bought and stored your Dogecoin. What next? How can you make your DOGE work for you? Let’s explore some options.
Investment: Like any other cryptocurrency, you can hold onto your Dogecoin as an investment and wait for its value to increase over time. Remember that the crypto market can be volatile, so it’s essential to do your research and invest wisely.
Betting and gaming: DOGE is popular for crypto gambling and online gaming. Many online casinos and betting sites allow you to fund your gambling account using this crypto.
Trading: If you have a knack for trading and want to take advantage of short-term price fluctuations, you can actively trade Dogecoin. Keep in mind that trading involves risks, and it’s crucial to have a solid trading strategy.
Holding: If you believe in the long-term potential of Dogecoin, you can simply hold onto it in your wallet, and wait for future opportunities.
Online shopping: Some online merchants and retailers accept Dogecoin as a form of payment. So, if you’re a fan of online shopping, why not spend some of your DOGE on cool merchandise or services?
Conclusion
And there you have it! Buying Dogecoin is a straightforward process. You first need to identify a reliable and safe exchange and then follow the simple steps discussed above. Once you have bought your DOGE, you can store them or invest. Whichever option you choose, educate yourself about potential risks.
