Dogecoin has become one of the most popular cryptocurrencies, known for its fun and friendly vibe. What began as a joke has turned into a serious digital currency with a loyal community. If you’re interested in getting involved in crypto or simply want to own some Dogecoin, the process is easier than you might think.
Buying Dogecoin is simple and doesn’t require any complicated steps. This guide will show you exactly how to buy Dogecoin, step by step.
What is Dogecoin?
Ticker
Market Cap
Total Supply
Where to Buy?
DOGE
$47.14B
147.37B DOGE
Binance, Bybit, OKX, MEXC, etc.
Dogecoin is a peer-to-peer open-source cryptocurrency created in 2013 as a meme-coin alternative to Bitcoin. It takes the face of the “Doge” meme; that’s a Shiba Inu dog. Started as a joke, but it’s now popular, thanks to a very active online community, and massive tipping of the content creators.
Dogecoin operates on blockchain technology, similar to Bitcoin and Ethereum. It uses a proof-of-work mechanism for mining, which secures the network. Unlike Bitcoin, Dogecoin has no supply limit, making it inflationary.
The coin gained much attention due to celebrity endorsements, such as Elon Musk, and because it was used in charitable efforts. It is suitable for microtransactions because of low transaction fees and fast processing times.
How to Buy Dogecoin: Step-by-Step Guide
Step 1: Choose a Trusted Cryptocurrency Exchange
The first step in investing in Dogecoin is the selection of a reliable cryptocurrency exchange. These are places that act as marketplaces where people can buy, sell, and trade digital currencies. Such popular Dogecoin crypto exchanges include Binance, Coinbase, Bybit, MEXC, and Bitget.
When selecting an exchange, look for one that is user-friendly, offers competitive fees, and has secure transactions. Sign up by giving them your email address and a strong password. Most exchanges will ask you to verify your identity with a government-issued ID, as this is a way to keep the platform safe for all users and comply with regulations.
Step 2: Setting Up a Secure Dogecoin Wallet
While exchanges may give wallets to hold your cryptocurrency in, it’s wise to use a dedicated crypto wallet as an added layer of security.
Here are the two most general types of wallets one needs to consider:
- Hardware wallets: These are devices like a USB drive that will store one’s cryptocurrency offline. Famous examples of cold wallet providers include Ledger Nano X and Trezor Model T.
- Software Wallets: These are programs you can install as apps on your phone or computer. Popular software wallets include the official MetaMask, Trust Wallet, and many more.
Tip: If you plan on holding Dogecoin long-term or investing a serious amount, a hardware wallet would be a good idea.
Step 3: Fund Your Exchange Account
With an account in place,