Dogecoin was created as a decentralized peer-to-peer digital currency on December 6, 2013. It enables you to easily send money online from any place around the world.
In 2021, Dogecoin price soars more than 1600% after Tesla’s Elon Musk and the rapper Snoop Dogg promoted this digital currency through their social media posts. Recently, Elon Musk offered money to help Dogecoin in becoming the ‘currency of the internet’.
After the recent boom in Dogecoin price, many investors and financial institutes started to express their thoughts fearing the greed and gravity of the current investors may leave new traders vulnerable causing massive losses.
However, all the fears and confusions seem to be shrugged off after the world’s richest man Elon Musk offers his full backing behind Dogecoin to ensure the continuation of its massive growth in the future. Instead of fearing a massive sell pressure in the current bubble market, Mr. Musk said “If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo” in his recent tweet.
In this cryptocurrency guide, we’ll explain how to buy Dogecoin. Also, we’ll discuss the top Dogecoin Exchanges of 2021 based on our in-depth research on the top cryptocurrency brokers of the world.
How to Buy Dogecoin in 5 Easy Steps
- Identify an exchange that meets your every requirement for buying Dogecoin. We chose Libertex.
- Create an account and register for a digital wallet
- Upload necessary documents to verify your identity and account information
- Deposit Funds to your account
- Begin trading Dogecoin
Explaining How to Buy Dogecoin in the UK – 5 Step by Step Guide for Dogecoin Investors in the UK
- Identifying the Right Dogecoin Exchange: Picking the right Dogecoin exchange in 2021 can be an overwhelming process. Currently, there are more than 200 cryptocurrency exchanges in the market. However, not all of them are offering the Dogecoin trading facility. So, before you decide on an exchange, first, make sure they’re offering a Dogecoin trading service.
Besides, safety and security should be at the top of your checklist. Make sure the exchange is truly regulated by renowned financial governing bodies with specific evidence of authorization and license number. A legitimate exchange is bound to be compliant with the safety regulations for protecting the money and privacy of the investors.
Next, you need to find the trading fees including the deposit and withdrawal costs of the exchange. If you’re seriously concern about the exchange fees, then we recommend you to select 2-3 top brokers and compare their pricing to find the most cost-effective exchange to buy Dogecoin.
Choosing the right platform to trade cryptocurrencies also plays a vital role in deciding the right exchange for trading Dogecoin. Different exchanges offer different types of trading platforms with various options to trade the crypto-assets. This feature includes trade execution speed, social trading, copy trading, EAs, and more. Therefore, you need to choose the right trading platform based on your trading style.
- Create an account and open a digital wallet: After you select an exchange, visit its website and register for an account. In this step, you need to provide your name, residential address, social security number, phone number, and email address for completing the registration process.
Once you’re done filling the registration form, click the ‘submit’ button and wait for a confirmation from the exchange. After the registration is processed successfully, the broker will send you a confirmation e-mail providing your new account number and other necessary information.
Keep your account ID and password safe and secret for protecting your trading account and funds. Most of the exchanges now offer a 2-step verification before logging in to the client’s account as a part of an extra measure of security of investment.
When you enable a 2-step verification system, the broker will send you an OTP code either to your phone or through your e-mail every time you attempt to log in to your account. Also, be careful in setting up the security questions and never expose the answer to anyone. Whenever you proceed for logging in to your account from a different device or IP, the broker will ask you security questions to confirm your ownership of the account.
For UK traders, the best Dogecoin trading exchange is Libertex. If you’re a UK resident, you may consider opening an account at Libertex.
- Verify your account information: Once you’re done with the registration, you need to verify your account information to gain full access to your account features. It also enables traders to start their transactions with the exchange. However, some brokers allow traders to start investing without verifications but only within a certain limit.
For account verification, you need to upload your national ID or driving license, and a copy of your utility bills (not older than 3 months). They’ll use your ID to verify you as a person and the utility bills will be used to verify your residential address.
After uploading the documents, wait with patience until the verification is processed. Once the verification is processed successfully, a customer care agent from the exchange will reach you through the e-mail confirming you’re ready for funding your account and buying Dogecoin or any other cryptocurrency you wish to keep on your e-wallet.
- Deposit Funds: After the verification, select your preferred payment method and make sure it is supported by the exchange. There are various payment methods that you can choose based on the acceptance from the respective broker.
Generally, the cryptocurrency exchanges accept debit and credit cards (Visa or Mastercards). In such a case, make sure the card provider accepts and allows payments to foreign exchanges. Alternatively, you can also use a bank wire transfer so that you can directly deal with the broker using your bank account.
Electric payment methods are also famous as payment methods for both deposits and withdrawals of funds from exchanges. Paypal, Neteller, Skrill, Webmoney, and Union Pay are some of the most used payment methods in dealing with brokers.
The deposit charges vary depending on the exchange you decide to deal with. In this case, you should find a good balance between the fees and service for making the transaction process more convenient. Additionally, you need to be aware of the minimum and maximum deposit limit of the exchange as well. Some exchanges offer a minimum deposit limit as low as $25.
- Begin Trading Dogecoin: Once you fund your account, you’re ready to start buying Dogecoin immediately. Before placing an order, check the minimum and maximum order limit, fees, and transaction cost or commission per trade.After you place an order to buy Dogecoin, it may not appear on your digital wallet immediately. The transaction process may take from one hour to three business days for processing the order. Once the transaction is processed, your ordered Dogecoin will appear on your e-wallet. Also, you’ll receive a confirmation email showing the details of your order.
Best Dogecoin Exchanges of 2021
According to our in-depth research, the top 3 Dogecoin exchanges are:
1. Libertex – One of the best exchange to buy Dogecoin from the UK
Libertex is one of the most low-cost and user-friendly brokers to trade Cryptocurrency, forex, and CFDs. Besides Dogecoin, it offers other 42 most traded Cryptocurrencies including Bitcoin (BTC), Litecoin (LTC), and Ripple (XRP). Besides, this exchange is authorized by Cyprus Securities and Exchange Commission (CySEC) license number 164/12. It is also regulated by Financial Sector Conduct (FSP number – 47381) in South Africa.
This exchange allows exchanges between digital and regular currencies. So, with an account and e-wallet at Libertex, you can easily buy Dogecoin by using your preferred currency. The usual conversion fee of the currency exchange is as low as 0.1%. Also, it applies commissions on cryptocurrency trading that vary from 0.47% to 2.5%. Interestingly, the exchange doesn’t apply any fee on deposits and withdrawals including no hidden fees. It also applies an inactivity fee in case if you’re inactive in trading for 180 days and your account balance is less than $10,000.
The minimum deposit limit of Libertex is 10 EUR when you use credit cards and electronic payment methods like Skrill and Neteller. The maximum deposit limit is $5000.
Libertex offers three different trading platforms including web trader, Metatrader 4, and Mobile App. All of its platforms support Dogecoin trading as well as other cryptocurrencies. Besides, its mobile app supports both Android and iOS devices. It also allows automated or copy-trading and Expert Advisor (EA) features.
- Low conversion fees on Dogecoin and other digital currency transactions
- User-friendly trading platform
- The minimum deposit requirement is 10 EUR
- Offers zero spreads
- Regulated by CySEC
- Offers MT4, web trader, and Mobile Apps
- Allows automated trading and EAs
- Libertex subscribers enjoy a 100% welcome bonus
- Offers only two types of trading accounts
- Limited resources on education and learning
Your money is at risk.
2. Binance – Low trading commission and high liquidity
Binance is the best Dogecoin exchange for US investors. It is well-known as a dedicated exchange for trading cryptocurrencies including Bitcoin, Dogecoin, Ethereum, and other top traded cryptocurrencies.
As a cryptocurrency exchange, Binance offers the easiest and cheapest option to start investing in digital currencies. With its secured interface and high-speed execution features, the exchange has managed to attract both experienced and newbie investors. Currently, Binance is serving more than 10 million traders worldwide. Apart from Dogecoin trading, this exchange also supports other major crypto-assets like Bitcoin, Ethereum, Ripple, Litecoin, and more.
Binance applies a 0.1% flat-charge on all trades. As its client, you’ll enjoy a 50% discount on Dogecoin trading fees when you make the transactions using Binance coin. Besides Dogecoin, the exchange is currently offering more than 100 trading instruments including forex, CFDs, and stocks.
- Allows over 40 fiat currencies for purchasing Dogecoin and other altcoins
- Lower trading fees
- Supports multi-trading platforms
- Offers Binance Futures
- Excellent customer care department with 24/7 support
- Offers MT4, web trader, Mobile Apps, and Binance Launchpad
- Peer-to-peer (P2P) cryptocurrency trading
- Offers Binance OTC (over-the-counter) trading desk for high-volume traders
- Decentralized and secured Binance wallet
- Doesn’t accept most of the traditional payment methods
- Doesn’t offers services to some of the major US states including New York, Florida, North Carolina, and Texas
- Designed for advanced traders only
Your money is at risk.
3. Coinbase – High security of funds and suitable for newbie investors
Established in 2012, Coinbase is an authorized and licensed cryptocurrency exchange that offers its trading service to more than 40 U.S. states. It offers more than 25 cryptocurrencies including Bitcoin, Dogecoin, and Ethereum for trading and investment purposes.
Coinbase uses one of the easiest user-interface for trading Dogecoin and other cryptocurrencies. Beginners can easily signup for a Coinbase wallet and can immediately start trading altcoins following a few simple steps.
Coinbase fees are relatively higher than other cryptocurrency exchanges with the same level of standards. It applies a 3.99% fee on Dogecoin purchases through credit and debit cards. For bank wire transfers it charges 1.49% per transaction.
The minimum deposit limit of Coinbase is as low as $2 or 2 Euro and the maximum deposit limit is $25,000 per day. Besides, credit/debit cards and wire transfers, the exchange also accepts SEPA transfer, ACH transfer, and Crypto deposit as payment methods.
- Excellent user-interface for managing Dogecoin and altcoin funds
- Offers mobile application for monitoring and exchanging crypto-assets
- High security of client’s e-wallets and engages 2-step verifications before logging to trading accounts
- Demo trading facility
- Offers cryptocurrency trading service to the US residents
- Offers daily market updates and trade ideas
- Excellent customer care support
- High liquidity
- Higher fees compared to its other competitors
- Users don’t have the control on wallet keys
Your money is at risk.
In this guide, we’ve listed the top 3 exchanges to buy Dogecoin based on our throughout research on the top Cryptocurrency exchanges in 2021. According to our research Libertex is the best exchange to buy Dogecoin in terms of its user-friendly trading platforms, high-speed execution, competitive fees, various choice of trading accounts, and most importantly the ultimate safety and security in dealing the crypto-assets. On the other hand, Binance is the best Dogecoin Exchange for UK residents since Libertex has stopped serving British citizens following the Brexit issue.
If you wish to move within the current trend of the world economy and start investing in Dogecoin, we recommend you visit the Libertex site, and follow the steps to buy Dogecoin we’ve mentioned earlier in this guide. Once you’re verified, you’re ready to start investing and dealing Dogecoin in one of the most legitimate financial exchanges in the world.
Who offers the best platform for trading Dogecoin?
Based on our in-depth research, Libertex offers the best trading platform for purchasing Dogecoin and other Cryptocurrencies. It offers high-speed order execution, zero spread, and up to 50% discount on trading commissions.
What is the minimum deposit limit for buying Dogecoin?
In Libertex, you can open an account with only a 10 EUR deposit for purchasing Dogecoin.
How can I purchase Dogecoin in the UK?
According to our observation, Binance is the best exchange to buy Dogecoin in the UK. Although Libertex is our first choice for purchasing Dogecoin, unfortunately, this broker has stopped serving UK clients because of the Brexit.
If you wish to buy Dogecoin in the UK, simply visit the Binance website and follow the steps mentioned in this guide. Once you’re done with the verification process, you can fund your e-wallet and start purchasing Dogecoin immediately.
Which cryptocurrency exchange offers a welcome bonus?
Libertex offers up to a 100% welcome bonus for the new subscribers.
Can I purchase Dogecoin using Paypal?
If the exchange is FCA regulated and accepts Paypal payment then of course you’ll be able to purchase Dogecoin using Paypal. Both Binance and Coinbase accept Paypal payment.
Which exchanges offer leverage for trading Cryptocurrencies?
Libertex offers up to a 1:600 leverage for its professional clients. Please note that high leverage involves more risk of losing money and is recommended for experienced traders only.