Whether you’ve heard of Doge because of the meme or the crypto coin, you’re here because you want to know you can buy or sell Dogecoin at the best rates.
But before we get into that, what is Dogecoin?
Dogecoin was a joke coin created by Billy Markus all the way back in 2013. Before long, Doge amassed a huge following and became popular. The plan was to limit it to 100 billion coins, but then it was decided that there would be a limitless supply. The community that backs Dogecoin undertakes a ton of fundraising work and is extremely supportive. Doge is used as a tipping system on Reddit and Twitter.
Now that you know a brief history of Doge, here’s what you need to know to buy/sell Dogecoin instantly.
Get a dogecoin wallet
There are many options for you to consider here. Ledger Nano S and Trezor are very popular because these are hardware wallets and keep your private key offline. You can also try software wallets. These are free but are not as safe as hardware wallets can be. You can either choose a mobile wallet or a desktop wallet. Getting a wallet is very important if you want to buy Dogecoin. You will need to store your holdings somewhere safe and off of the cryptocurrency exchange.
- Locate your Doge address: This is basically a string of letters and numbers that starts with a capital D. This is the address you will require after you buy Dogecoin and want to send it to your wallet.
- Find a Doge exchange: There are not that many exchanges that support Doge so it can be a little tricky to find a reliable one. But if you are looking for the best exchange for you to buy/sell Doge, CoinSwitch is the one. It aggregates the exchanges rates from all the exchanges in the world. You can also use Changelly to buy Dogecoin with fiat currencies, but it can cost you a lot if you try to purchase Doge with your credit card on Changelly. Look out for hidden fees. You can also give Kraken a shot. Kraken has a DOGE/BTC trading pair so you will have to first purchase BTC and then convert it to Doge. You can do the same on Bittrex.
- Buying Doge with credit card: There are no exchanges that allow you to directly purchase Doge with your credit card. So, instead, you will have to purchase BTC or Ethereum or one of the popular altcoins or Litecoin and then convert it to Doge. CoinSwitch has very minimal trading fees so it may be useful to use the exchange for such conversion.
- Buy Dogecoin with PayPal: Again, there aren’t many exchanges that accept PayPal, so the options to directly purchase Doge are pretty limited. But you can use LocalBitcoins that does accept PayPal and purchase Bitcoin first and convert it to Doge.
All the predictions point to Doge becoming an integral part of our life because of how easy it is to make micropayments and the tipping system. So, now that you know how you can buy Doge, you should definitely make an investment if you have disposable income.