Jackson Palmer and Billy Markus designed the creators of Dogecoin to create a payment system that can be operated outside the intervention of banking fees. This guide is all about “How to Buy Dogecoin on eToro?” You will get to know about everything from how to open an account to how to set up a crypto wallet of how to buy Dogecoin? Let’s get into the blog to learn about Dogecoin’s buying procedure.
History
Dogecoin was founded in Israel in 2007; eToro is a popular trading platform for buying and selling crypto and ETFs. EToro is best known for its social trading aspect and popular crypto feature. This feature would help copy trades of experienced traders and benefit from knowledge and experience. Dogecoin was designed using protocols used by existing crypto’s Litecoin and Lucky coin with its proof of work algorithm to scrypt technology. It disallows SHA-256 cryptographic hash functions used by bitcoin miners and instead uses the dedicated and complex ASIC and FPGA devices for mining.
Is Dogecoin secure?
Well, Dogecoin is not considered as secure and decentralized as bitcoin. It is a less innovative digital coin as compared to other cryptocurrencies. The famous businessman from Dallas, Texas, Mark Cuban, and the owner of the NBA team Dallas Mavericks have expressed their feelings about the cryptocurrency world if more people use it.
Dogecoin is based on blockchain technology similar to bitcoin and Ethereum use. The technology is called proof of work, which is opposed to cryptocurrencies, which use proof of stake or Solana. Three elements of proof or work make Dogecoin secure.
- Encryption
- Immutability
- Consensus
How to Buy a Dogecoin on EToro?
Here we will cover all the basics of buying Dogecoin on eToro. Take a look
- Setup an eToro Account
Go to the eToro website and click sign up. Enter the Email and then choose the username and password for a new trading account. EToro will ask for the name, phone, number, zip code, and birthday.
- Get done with the Verification
EToro requires verifying the identity; for this, you need to verify the identity. Take a photo of your driver’s license or passport and upload it to the platform to complete the step. You need to verify the address by uploading any evidence of residency. It could be a recent utility bill or bank statement.
- Deposit Funds
EToro requires a minimum deposit of $10 for all new accounts in the US. Pay via Visa or Mastercard, debit card or credit card, or PayPal. EToro accepts bank transfers with a minimum deposit of $500. You can buy the best altcoins with a wide range of payment methods that suits your needs.
- Setup a crypto wallet
It can be helpful to have cryptocurrency wallet to send or receive cryptocurrency. You don’t need a wallet to buy Dogecoin on eToro. EToro offers a free crypto wallet app for iOS and Android. Download the app from Google Play or the Apple App store and log in with an eToro username and password.
- Search for Dogecoin
Visit the eToro dashboard and find the search box at the top of the page. Enter the DOGE or Dogecoin. Click on Trade when Dogecoin appears in search results. It will open the order form.
- Buy Dogecoin
Enter the amount of Dogecoin to purchase in US dollars. Select a stop loss or rake profit price used for eToro Dogecoin trading rather than long-term investing. Click Open Trade to complete the Dogecoin purchase.
How to buy Dogecoin with Bank Account?
To buy Dogecoin with a bank account of eToro. You need to do the following things for dogecoin eToro:
- Link the bank account to the eToro account. It can be done by finding the deposit funds button on the mobile app or desktop site.
- After linking, Locate Dogecoin on the eToro platform. Try searching “Dogecoin” or “DOGE.”
- Click the Trade button and input the amount of Dogecoin you want to buy, either in dollars or in DOGE.
- Review the purchase, which contains all the fees that have been applied.
- Click the “Buy” button, and the Dogecoin you have purchased will be transferred into your eToro account.
How To Buy Dogecoin With Debit Or Credit Card?
Buying cryptocurrency with credit or debit is pretty simple, and we share the method below.
- Link the card to the eToro account. Click the Deposit funds button on the mobile app or desktop site and add the card as your payment option.
- Locate Dogecoin on the eToro platform. Searching “Dogecoin” or “DOGE.”
- Click the “Trade” button and input the amount of Dogecoin you want to buy in dollars or DOGE.
- Review your purchase.
- If everything looks good, then click the “Buy” button.
Is Dogecoin The Right Crypto For You?
Cryptocurrencies for experienced or first-time investors must proceed with caution before investment. Everyone needs to study crypto to know all the aspects in detail. It still needs to consider a new player in the investment market. Investing in DOGE has a lower value than a dollar, which presents a lower risk than buying other expensive cryptocurrencies.
Buying and selling Dogecoin eToro is affordable compared to other major cryptocurrency exchanges. You must pay a fixed 1% transaction fee when you buy Dogecoin and an additional 1% transaction fee when you sell. EToro doesn’t charge extra for buying crypto with a credit card, debit card, or e-wallet.
EToro offers a social trading network to connect with Dogecoin traders. EToro supports crypto trading and customizable technical charts complete with the trading community. You can share trading strategies and discuss the latest news.
Conclusion
We have mentioned different ways how to buy Dogecoin on eToro. As we all know, eToro accepts various payment providers, including Mastercard, Visa, PayPal, Diners Club International, and Union Pay, for convenient ACH bank transfers and credit or debit payments.
Frequently Asked Questions
How to buy Dogecoin Directly?
Dogecoin can be bought and sold directly through exchanges such as Kraken, Gemini, eToro, and Coinbase.
Is eToro good for Dogecoin?
EToro is the best app for buying Dogecoin, and the mobile crypto app is supported by iOS and Android. Vital currencies are highly volatile, and capital is at high risk.
How to buy Dogecoin for beginners?
- Get a Dogecoin wallet.
- Locate the Dogecoin address.
- Find a Doge exchange.
- Buy Dogecoin.
- Withdraw Doge.
Is eToro safe to buy crypto?
eToro is safe and secure. Make sure you always look for security signs on the browser before trading. Client’s funds are kept secured in tier 1 banks, and all their personal information is guarded under SSL encryption.
Does eToro charge for withdrawal?
EToro has a $5 withdrawal fee which is high compared to other CFD brokers. eToro has a $30 minimum amount limit on withdrawals.