What are the ways to earn Dogecoin
How and where can I buy Dogecoin (DOGE)?
Welcome to the blockchain world!
In the following article we will accompany you on your way to investing in cryptocurrencies for the first time.
The beginning is always difficult. In addition to technically demanding crypto exchanges, we will also show you easier ways to buy Dogecoin. Deposits are easily possible e.g. via PayPal or credit card.
Just read on!
Your Blockchainwelt editorial team
Introduction: Buy Dogecoin
If you want to invest in cryptocurrencies, we have put together two simple guides in this article.
To buy Dogecoin you need to go through the following steps:
- Choose a suitable trading platform
- Trade FIAT money, such as euros, for Dogecoin
- Withdraw Dogecoin to a secure wallet or ...
- ... resell the DOGE you have bought on an exchange (hopefully at a profit)
In the following article we will go into more detail on how and where you can buy Dogecoin.
We will introduce you to various exchanges and trading platforms where you can invest in DOGE.
Before you decide on a provider, you should take a closer look at it. You should also note that Dogecoin is a so-called meme coin.
We advise you to take a closer look at the provider before choosing an exchange. Please also note that DOGE is a coin without a more in-depth application. Therefore, do not invest large amounts in this currency. Also, make sure that you trust large and well-known exchanges when trading and avoid unfamiliar platforms.
If you want to get started right away, click this link for step-by-step instructions with screenshots.
Would you like to get started right away?
Choose Dogecoin exchange
In order to find the best crypto exchange for you to buy and trade MKR tokens, the first step is to define your trading habits.
Would you like to buy your Dogecoin once and then send it to your wallet or are you more interested in price movements and active trading?
What type of investor am I?
Buy Dogecoin from a crypto broker
If you are interested in buying Dogecoin, you can do so with one of the best crypto brokers on the market, Libertex. This approach is particularly interesting for newbies, because you don't have to worry about storing your Dogecoins.
However, legal security is particularly important with a broker. Buy Dogecoin through a crypto broker then automatically invest in a regulated product. Your investment is subject to deposit protection and you can benefit from deposit protection in the event of the issuer's insolvency.
The supervision of the crypto brokers is the responsibility of the state financial supervisory authorities. While private institutions do not proceed transparently, state-funded authorities can be assumed to have a certain degree of independence. This fact increases the transparency.
Libertex is currently the only broker that, to the best of our knowledge, supports the purchase of Dogecoin. However, Libertex is a very good choice, because the 2.2 million users of the platform are a statement of the trustworthiness of the platform.
The broker also benefits from the sponsorship of the well-known football teams FC Valencia and Tottenham Hotspurs in terms of general awareness. Numerous football fans know the platform and associate Libertex with a successful partner.
Libertex - the best known broker for Dogecoin
Please note that you are buying from Libertex Contracts for Difference (CFD) on DOGE. Accordingly, you benefit from the price development, but you do not have a physical token that you can trade on the Internet.
Nevertheless, as an investor, you benefit from the increasing demand and positive performance of the Dogecoin course.
But despite the fact that you do not have any real Dogecoin, such a CFD offers you some advantages. This allows you to use leverage when trading and proactively manage your risk and return.
In addition, trading cryptocurrencies via a crypto broker is cheaper in the short term. After all, you have a tax advantage.
Compared to crypto exchanges, crypto brokers convince with their wide range of deposit options.
For example, Libertex offers the following options:
- Bank transfer (SEPA)
- Credit card
- Instant bank transfer
We find the numerous options that you can enjoy when depositing at Libertex particularly practical.
For example, if you decide to pay via PayPal, the money is available to you immediately. You do not lose any time and can buy your Dogecoins immediately.
Fee models from crypto brokers differ from crypto exchanges in that there are usually no transaction fees.
Instead, most brokers use spreads to make money. However, Libertex takes a different approach and charges a transparent commission as a purchase fee. Experience has shown that this is quite cheap.
Depending on your deposit, this fee also fluctuates significantly. Deposit at least $ 1,450 and receive a 20% discount on all transaction costs.
Once you decide to leverage, the fees increase slightly. However, your return will also change here. A leverage of 2: 1 means that a percentage change of 1% in the market leads to a 2% change in your trading position. Please always pay attention to so-called accommodation fees and include them in your calculation.
If you follow these basic rules, you can invest successfully and profitably in Dogecoin.
Regulation & verification
Crypto brokers generally need regulation within the EU - most often this is the regulation of the CySEC (EU).
Libertex also has a regulation according to CySEC and thus offers you the advantage of deposit protection. In addition, you do not run the risk of a financial supervisory authority blocking your existing accounts on suspicion of money laundering.
On the other hand, you have to verify yourself when registering with a broker. To do this, you must submit identification documents and prove your identity.
Buy Dogecoin on a crypto exchange
If you want to buy Dogecoin, then a crypto exchange is your means of choice. However, you will need a corresponding wallet in the first step with numerous exchanges.
You can use any software wallet for this, but we recommend a hardware wallet, such as the models from Ledger.
It is important to note that you are safe in handling the wallet! If you forget your private key or have a typo in an address, this can easily result in a total loss!
It is best to always copy the wallet address and never enter it manually. You should also check these several times to prevent manual errors.
A chilling example of a bogus transaction is an investor who inadvertently gave false information while transferring Ethereum. For a single transaction, he paid 10,600 ETH - in March 2021 that is more than 19 million USD.
Unfortunately, there are still no mechanisms in place to protect investors from such mistakes. On the other hand, this is of course an extreme example, which is the exception rather than the rule.
If you want to be on the safe side first, you can also choose a crypto broker who takes care of the custody of the crypto currencies for you.
When choosing a suitable crypto exchange for Dogecoin, you should consider the following properties:
In general, you can deposit on a crypto exchange in different ways.
The main deposit methods are:
- Bank transfer (SEPA)
- Credit card
Cryptocurrencies as a means of payment are obviously only suitable for investors who are already invested in the crypto market.
Depositing by credit card is probably the easiest way to buy Dogecoin for many investors. However, please note the sometimes very high fees, which can be as much as 3% of the transaction amount.
Likewise, many crypto exchanges on which you can trade DOGE are not yet regulated. As a result, a lot of hacks have taken place in the past to steal crypto currencies from investors or to obtain personal data.
That is why we generally recommend paying by bank transfer. These payments can take a few days, but here you can be sure that your data will not get into the hands of attackers.
If you want to act particularly quickly, you can also buy Dogecoin via PayPal.
Crypto exchanges have different fee structures. For exchanges such as Kraken or Binance, the fee schedule is based on the monthly trading volume. Large amount traders pay fewer fees than retail investors.
We have compiled an overview for you in the following table:
|30 days trading volume||Coinbase||Binance||Octopuses|
|$0 – $50.000||1,49%||approx. 0.1%||0,16% – 0,26%|
|$50.001 – $100.000||1,49%||approx. 0.1%||0,14% -0,24%|
|$100.001 – $250.000||1,49%||approx. 0.1%||0,12% – 0,22%|
|$250.001 – $500.000||1,49%||approx. 0.1%||0,10% – 0,20%|
Many crypto exchanges are still unregulated.
Nonetheless, most stock exchanges are already counteracting tax evasion and carrying out the know-your-customer and anti-money laundering tests.
To do this, you need to verify your data using your ID card or passport.
We advise you to choose an exchange that adheres to these guidelines, as there is less risk that deposited funds will be frozen by a tax authority.
The following exchanges meet the regulatory requirements and are, in our opinion, the best choice to buy Doge.
Even at this point in time, we are still in the early stages of cryptocurrencies.
None of the major crypto exchanges are located in Germany or the EU, which is why few or no crypto exchanges are regulated.
If you prefer to buy on a trading platform that is regulated by a financial market regulator, choose a crypto broker.
Would you like to buy physical Dogecoin?
Buy Dogecoin - step by step instructions
So that you can also trade Dogecoin easily, we have created detailed step-by-step instructions.
In the following we will show you the complete process for buying and selling DOGE at Libertex. In our view, Libertex is one of the best platforms to get started trading cryptocurrencies like DOGE.
If you prefer to use a different platform, take a look at our comparison of the best regulated trading platforms for cryptocurrencies in the EU. Please note that you can currently only trade Dogecoin with Libertex.
What is to be emphasized at Libertex is the ease of use and the simple management of trades. Trading in general takes some getting used to at first - for this reason, however, we want to show you how to use the broker correctly. If you would like to trade something other than cryptocurrencies, the platform also offers you stocks, commodities and precious metals for trading.
Libertex can look back on a long company history. The establishment can be traced back to 1997. The Libertex trading platform is regulated in Great Britain and Europe and therefore approved for financial transactions. The CySEC regulation is decisive for German-speaking investors.
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