How to buy Dogecoin the easiest way to purchase DOGE

Through KuCoin, you can explore Spot Trading, Margin Trading, and Futures Trading to diversify your investment strategy and maximize potential returns. Government regulations and legal frameworks play a role in shaping the perception and adoption of Bitcoin. Different countries have varying approaches to cryptocurrency regulations, and changes in regulations can impact market sentiment and investor confidence, which, in turn, can affect the value of Bitcoin. Since the COVID-19 pandemic began, global financial markets have experienced high levels of uncertainty. Many investors view Bitcoin as a hedge against inflation, earning it the nickname "digital gold" in the financial market. Amid central banks' monetary easing, equity market volatility, and rising gold prices, numerous investors have turned to Bitcoin for its high returns.

• If Binance doesn’t work out you can always use Kraken as another reputable option.
• As of Dec. 28, these two juggernauts are responsible for 67% of the aforementioned $1.71 trillion value of the crypto market.
• Less than a year after FTX filed for bankruptcy protection, its former CEO, Sam Bankman-Fried, was found guilty on seven counts of fraud and conspiracy brought against him.
• This is a high‑risk investment and you should not expect to be protected if something goes wrong.
• As with other cryptocurrencies, once you’ve purchased Dogecoin it’s best to move your coins to a crypto wallet.

In addition to the minimum deposit, some exchanges may also require a minimum balance to be maintained in the account to avoid account closure or inactivity fees. These fees can range from a few dollars to several hundred dollars per year, depending on the exchange and the amount of the minimum balance requirement. Like Bitcoin, Dogecoin has a blockchain that’s maintained by a mining system. The key difference is that Dogecoin uses Scrypt, a different mining algorithm than Bitcoin’s SHA-256. Originally, the Scrypt algorithm was designed to be ASIC-resistant, however by now ASIC manufacturers found a way around that, so it is only profitable nowadays to mine Dogecoin with ASIC miners. So don’t forget to withdraw the Doge you’ve bought out of the exchange and into your own wallet using the address you got in step 1.

How To Buy Dogecoin (DOGE)

For Android mobile devices, there’s the official Dogecoin Mobile Wallet, which generally has favorable reviews from users. Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website. If you don't already own crypto, the easiest way to buy DOGE is with US dollars. Read our guide on how to earn free crypto for other potential ways to earn some free DOGE. Once you've bought some DOGE, think about what your short and long-term goals are. This will help you decide whether to keep it on an exchange, or move it to your own wallet.

• A large group of sellers in USTC decoupled this peg, which created an arbitrage opportunity that ultimately led to a cascade effect in Terra's stablecoin and Terra itself.
• However, it's important to acknowledge that your Bitcoin holdings can be susceptible to hacks and scams when stored in digital wallets or exchanges.
• We believe everyone should be able to make financial decisions with confidence.
• So don’t forget to withdraw the Doge you’ve bought out of the exchange and into your own wallet using the address you got in step 1.

Brokers who offer cryptocurrency trading include Robinhood (HOOD). While trades are commission-free on Robinhood, you must pay a built-in spread markup on any trades. Dogecoin's price is affected by news and social media, and its price moves in concert with other cryptocurrencies. Yes, if investors want to use fiat currency (Sterling) to buy Dogecoin, they’ll find all major exchanges allow you to do so.

How To Buy Dogecoin

This means investors would not be entitled to reimbursement if their DOGE were stolen, they lost their access codes, or if the exchange/broker in question went bust. It is very difficult to predict what price a cryptocurrency will reach, considering the speculative and volatile nature of this type of asset. For dogecoin, though, the price point of $1 might be difficult to reach in the near term, considering the bearish state of the crypto market. Even if the prices move up from there, the 15-cent mark will be crucial for it to be able to move further. The road to $1, if paved, will depend on market adoption, investor confidence, and other factors.

Failure to pay taxes on your crypto gains can result in substantial issues, including expensive penalties. If you’re not sure how to report your Dogecoin profits, consult a tax professional. While Dogecoin remains a wildly popular choice, it is not universally available on all crypto exchanges. Make sure any exchange you’re considering has DOGE available for purchase if you wish to buy it. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Dogecoin vs. litecoin

Musk has also referenced Dogecoin in interviews and on social media, leading many of his followers to become interested in the cryptocurrency. One of the main benefits of centralized exchanges is their high level of security. CEXs typically have strong security measures in place to protect user funds.

At the beginning of April, Mr Musk replaced the blue bird icon on the microblogging website with the Shibu Inu meme, causing the value of Dogecoin to soar by 30%. He has over a decade of experience writing in the personal finance space for outlets such as Creditcards.com, creditcardGenius.ca, how to calculate volatility Yahoo Finance Canada, Nerd Wallet Canada and Greedyrates.ca. Crypto IRAs can protect you from taxes while your crypto appreciates. Next, you're going to choose how you'd like to fund your Coinbase Pro account. Secondly, select “Sell” and choose the amount you would like to sell.

What You Need To Open a Cryptocurrency Exchange Account

The core problem with Dogecoin and Shiba Inu is that they're nothing more than payment coins. There are thousands of digital currencies that could, in theory, be used to pay for goods and services. The two dog-inspired coins simply offer nothing in the way of differentiation from countless other projects.

How to Buy Dogecoin (DOGE)

It is very hard to pinpoint the exact price of dogecoin or any other meme coin for a given year. However, our dogecoin price prediction for 2025, provided the market rebounds and recovers, is close to 15 cents. Do note that to reach this price, dogecoin might have to rely on its community and the sentimental drivers. If you want to buy dogecoin and hold the crypto for years to come, you should have some clarity about its future.

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The former CEO of FTX is facing up to 110 years in prison, with a sentencing date looming in late March. Likewise, Bitcoin's halving event will reduce the block reward given to cryptocurrency miners by 50%. Bitcoin has a history of rallying into halving events as it results in fewer tokens being minted on a daily basis. Financial institutions have, for years, attempted to garner approval to list a Bitcoin ETF, only to be spurned by regulators who have claimed that the crypto space was rife with manipulation. A handful of approved Bitcoin ETFs would allow greater access to the top crypto token through more standard channels (i.e., without having to buy Bitcoin on a crypto exchange).