How and Where to Buy Dogecoin (DOGE)

Dogecoin (DOGE) has posted gains that have far outpaced the stock market since it was launched in December 2013. The cryptocurrency started as a meme coin, but now it has risen by almost 10,000% over the past five years.

Volatility is the name of the game for this crypto, as DOGE is more than 69% removed from its all-time high in May 2021. It’s also down by nearly 38% year-to-date, but the coin has enjoyed some days of 10% to 20% gains along the way.

So, while dogecoin may be too volatile for long-term, conservative investors, its dramatic price movements are perfect for day traders, swing traders and crypto speculators.

How to buy dogecoin

If you want to get in on the action, you will need a crypto wallet or a crypto brokerage account that allows you to trade dogecoin. All brokerage firms and some crypto wallets will require that you provide your personal details, such as your ID and Social Security Number, to get started. However, there are a few crypto wallets that allow you to make anonymous dogecoin trades.

While interfaces are slightly different for each crypto brokerage and digital wallet, the general steps to buy dogecoin are the same. When you are in your brokerage account or digital wallet, you will have to proceed to the “Buy” section.

Next, you will have to enter the amount you want to purchase. You can either input how many dogecoins you want to buy or how many dollars you want to invest in dogecoin. For instance, if you opt to put $1,000 into dogecoin, the brokerage account or crypto wallet will calculate how many DOGE you can buy.

You can then place the order after reviewing it and ensuring that the information is correct. You can buy and sell dogecoin at any time since the cryptocurrency trades 24/7.

Where to buy dogecoin

Investors can buy DOGE through various crypto exchanges and wallets. These are some of the top choices to consider.

Best Wallet

Best Wallet is a digital wallet that lets you invest in thousands of cryptocurrencies across more than 50 blockchains. This digital wallet gives you access to dogecoin and allows you to make anonymous transactions. There’s no need to provide sensitive information like your ID or Social Security Number if you use this wallet.

Best Wallet supports DOGE on multiple chains, enables instant swaps and offers integrated staking and presale features. Furthermore, and unlike centralized crypto exchanges, Best Wallet offers no-KYC DOGE purchases — a unique selling proposition for privacy-focused users that makes this crypto wallet particularly alluring to investors and traders looking for anonymity or no-verification purchases.

This wallet is available via the App Store and Google Play. It has more than 30,000 reviews with an average rating of 4.4 stars.

Coinbase

Coinbase has been around since 2012 and has established itself as a top brokerage firm in the crypto industry. The company provides you with a hosted wallet when you create an account with them, making it easy to trade plenty of cryptos, including dogecoin.

Coinbase also offers a self-custody wallet called Coinbase Wallet. However, this wallet and a regular Coinbase account do not make you anonymous. You can link an external wallet to your Coinbase account, but even that won’t make you anonymous. Coinbase is a great way for beginners who don’t care about making private, under-the-radar transactions to accumulate crypto.

Robinhood

Robinhood is another brokerage firm to consider. The fintech company revolutionized stock trading by removing commissions from every stock trade. The company also doesn’t have commissions on crypto trades placed on the platform.

You don’t need to create a digital wallet to trade crypto on Robinhood. They handle it for you, but you can also add an external wallet to your Robinhood account. You can also create a Robinhood Wallet through the platform.

Robinhood is best for active day traders, especially if you choose its Robinhood Gold model. This upgraded membership offers various perks like 4% APY on idle cash, a 3% match for every IRA contribution and unlimited 3% cashback on all purchases with the Robinhood Gold Card.

Ledger Nano X

Ledger Nano X is a hardware wallet that makes your crypto more secure. Hackers can only infiltrate crypto wallets if the information remains online.

By using Ledger Nano X, you can grow your DOGE holdings with an extra layer of protection. Importantly, make sure you never lose your hard drive. There’s a famous incident in which a man lost $800 million of bitcoin because his hard drive may have inadvertently ended up in a UK landfill.

With Ledger Nano X, you can secure and manage more than 5,500 cryptocurrencies. ETH, XRP and DOGE are just a few of the altcoins that are available through this hard wallet. Ledger Nano X works with the Ledger Live app to buy and sell crypto on the spot.

Trust Wallet

Trust Wallet is an International Organization for Standardization-certified company that has been used by more than 200 million people since its founding in 2017. The self-custody wallet supports millions of assets across more than 100 blockchains. Solana, dogecoin and cosmos are some of the altcoins that are available through this wallet.

Trust Wallet also allows its users to stake their crypto to earn interest on their holdings. Additionally, you can move crypto from brokerage accounts like Binance and Coinbase straight to your Trust Wallet. The company doesn’t have any access to your private keys, and it doesn’t track any personal information.

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