Purchasing options for Dogecoin
One of the greatest things about cryptocurrency is the many options available. Many people immediately think of Bitcoin when they hear the word “cryptocurrency.”
However, Dogecoin is one of the oldest virtual coins available on the market. What started out as a joke has become an extremely popular form of payment and retirement investment.
Unlike other forms of digital currency, Dogecoin is not available on Coinbase. Therefore, it is essential to know what this coin is and where you can purchase it.
What is Dogecoin?
Dogecoin was created a few years after Bitcoin, in 2013 by Billy Markus. He introduced the coin as a joke and was initially limited to only 100 billion coins. However, due to its popularity, it has become limitless. It is most well-known for being the sponsor of NASCAR driver John Wise and being the funding selection for the bobsled team to attend the Winter Olympics.
Purchasing options for Dogecoin
Show can you buy Dogecoin? Here’s what you need to know.
Step 1: Set up a wallet
The first step in purchasing any cryptocurrency is setting up a digital wallet. The best option is with a hardware wallet. They come with an initial investment, but they operate offline so that you will keep your money safest from hackers. You will need to do your research to make sure they work with Dogecoin, but Nano is one of the top products on the market.
If you do not want to make a financial investment initially, an online wallet option is available. These store your private key on your device, so they are more vulnerable to online attacks. Many soft wallets will offer you the ability to download software that keeps your finances safer.
Step 2: Find an exchange
While Dogecoin is one of the oldest coins on the market, many exchange sites offer it. The founder did create a limitless supply of the coins, so you just need to find the right markets or mine for them. The following are a few of the top locations where Dogecoin can be found.
- eToro – Recommended for only exchanging coins and not buying or storing
- Kraken – Offers users the ability to deposit money into an account via credit card and then purchase Dogecoin.
- Changelly – Free to sign-up and can purchase Dogecoin with any form of payment
- Bittrex – Purchase Dogecoin by exchanging Bitcoin
How to buy Dogecoin without an exchange
You can buy Dogecoin instantly without an exchange, but higher processing fees are associated with the purchase. Binance is one site that will allow you to use your credit card to purchase Dogecoins, but there are a few other options.
PayPal is slowly entering the cryptocurrency market, but you cannot buy Dogecoin directly with PayPal yet. If you are interested in using PayPal, it is recommended that you purchase Bitcoins and then exchange them for Dogecoin.
Users on Reddit and Twitter have been enjoying Dogecoin for years as a form of fundraising. It offers the same benefits as other cryptocurrencies on the market, but it has overcome the hurdle of not being available everywhere. If Dogecoin is where your interest lies, make sure you set up a safe wallet before making any purchase.