How to Buy Dogecoin in 2024: Dogecoin is a well-liked meme cryptocurrency to purchase. Its current trading price is more than 75% lower than its highest price ever, which makes it a good deal for people who want to invest in it, especially during a time when meme coin prices are rising.
This guide will show you how to buy Dogecoin in 2024. We’ll also talk about why investing in Dogecoin might be a good idea in the future, as well as the risks involved.
Where to Buy Dogecoin – Best DOGE Exchanges Reviewed
Dogecoin is a popular meme coin that you can buy from various places. When deciding where to invest in Dogecoin, you should think about things like rules, how much you need to invest, how you can pay, and how good the customer service is. We’ll now look at the top five places to buy Dogecoin in 2024.
1. MEXC – Overall Best Platform To Buy Dogecoin With Low Fees And A Customer Base Of Over 10 Million
MEXC is a great place to buy Dogecoin in 2024.
It’s used by over 10 million people in 170 countries. Experts in banking made MEXC to be fast, handling 1.4 million transactions per second. But remember, you can’t use MEXC in the US for now.
MEXC lets you trade more than 1,600 different cryptocurrencies. They have really low fees – you pay nothing for regular trading and just a tiny fee of 0.02% for futures trading.
This is great for people who trade often or don’t trade a lot, because it saves them a lot of money compared to other places to trade.
The platform is for lots of people, from those just starting out to those who’ve been trading for a while. It has fancy charts, lots of tools to help, and uses Trading View charts. It’s easy for new traders to use and has plenty for experts too.
The platform lets users copy successful traders’ strategies, has a mobile app for iOS and Android, and allows users to join its governance and earn extra benefits with the MX token.
Also, users can earn interest on their crypto with flexible lock options, similar to staking but more flexible.
Moreover, MEXC provides a wide range of educational resources that can help people learn more about trading cryptocurrencies.
Buying cryptocurrencies on the platform is easy, with various payment methods available, including bank transfers, SEPA, credit and debit cards, and peer-to-peer transactions. Integration with payment processors like MoonPay makes direct crypto purchases more convenient.
2. OKX – Directly Purchase Dogecoin With Visa/MasterCard at 1.99%
OKX is a well-liked platform for trading cryptocurrencies. It offers many different types of cryptocurrencies to trade, such as Bitcoin, Arbitrum, Cardano, Tether, and Shiba Inu, in addition to Dogecoin. If you want to use a debit or credit card to buy Dogecoin quickly, OKX is a good choice. They charge a fee of 1.99% for this service.
We discovered that OKX has really cheap fees for trading. Just like Binance, it starts at only 0.1% per trade. If you trade big amounts, you can get discounts on commissions. OKX has lots of useful features like charts, technical indicators, and trading bots. Plus, it lets you save Dogecoin in flexible accounts, currently giving 1% interest each year.
OKX has a special online wallet called Web 3.0. It lets you trade and make money with Dogecoin without needing centralized systems. Also, the OKX Web 3.0 wallet helps you find the best exchange rates and APYs from more than 200 other platforms. One downside is that OKX doesn’t work with clients from the US.
3. Coinbase – Safe Place to Instantly Buy Dogecoin With Debit Card or PayPal
Coinbase is a well-known cryptocurrency trading platform located in the United States. It started in 2012 and allows people to safely purchase Dogecoin over the internet. When you sign up for an account, you’ll need to provide a government-issued ID as part of the verification process. Also, Coinbase has very strong security measures in place.
This means that you need to use two ways to confirm it’s you when logging in, which is necessary for all accounts. Also, Coinbase mostly stores the money you own in a way that makes it harder for hackers to steal it online. So, your DOGE tokens are safer. Plus, Coinbase is a company whose stocks you can buy and sell on the NASDAQ stock exchange. This means they have to share their financial reports every three months, which gives you a better idea of how they’re doing.
Coinbase is easy for beginners. You can easily invest without any previous experience on both the Coinbase website and mobile app. The app has a high rating of 4.7/5 on the App Store, but a slightly lower rating of 4.1/5 on Google Play. Despite offering a safe and smooth Dogecoin investment experience, there are some downsides to consider.
For instance, Coinbase charges high fees. If you buy Dogecoin right away using a debit/credit card or PayPal, you’ll be charged 3.99%. There’s also a fixed fee for investments below $200. This fee changes based on how much you invest but will always be more than 3.99%. Additionally, Coinbase charges a standard trading fee of 1.49%. This fee is included in the ‘Instant Buy’ fee, but you’ll still pay it when you cash out.
4. Binance – Low-Cost Crypto Exchange With Over 150 Million Users
Binance is a very popular place where people trade cryptocurrencies. It has more than 150 million users worldwide. Binance offers lots of different services related to cryptocurrencies. If you just want to buy Dogecoin using regular money, you’ll only have to pay a small fee of 0.10% when you make a trade. This fee is lower compared to many other places where you can trade cryptocurrencies.
Additionally, Binance doesn’t charge any trading fees when you purchase Dogecoin with TUSD, BUSD, or FDUSD. You can also lower the regular fee by 25% if you use BNB to pay the fees. Deposit fees differ based on where you live and how you pay. Typically, using a debit/credit card incurs a fee of around 1.8-2%. Another option is to deposit money through Binance’s peer-to-peer market.
This means you can use different ways to pay locally, and sellers can choose how much they want to charge. Sometimes, you might get a better deal than on Binance’s regular trading platform. Binance is a good option for buying Dogecoin if you want to spread out your investments. It lets you buy lots of different cryptocurrencies like Bitcoin, Ethereum, Cardano, and Solana.
Binance is well-known for its ‘Earn’ features, which include ways to make money like interest accounts and staking tools. However, if you’re looking to earn more interest on Dogecoin, you might need to use a different cryptocurrency since the highest interest rate available right now is only 0.14%. It’s important to know that Binance is currently in a legal dispute with the SEC (Securities and Exchange Commission) in the US. As a response, Binance has taken legal action to protect itself from the regulator, as reported by Reuters.
5. eToro – Emerging Crypto Exchange Low Fees, Copy Trading Tools, & a Secure Crypto Wallet
eToro is a website where you can trade cryptocurrencies like Bitcoin, as well as other things like stocks and commodities. It started in 2007, which was two years before Bitcoin was invented.
More than 30 million people have signed up to use it. If you’re not from the US, you need to deposit at least $50 to start trading. Once you’ve put money into your eToro account, you can buy small amounts of Dogecoin.
You only need $10 to start investing. With that, you can buy about 166 DOGE tokens at today’s prices. You can trade cryptocurrencies on eToro anytime, day or night. It’s good for beginners, but eToro charges higher fees than some other platforms.
Sure! eToro is one of the least expensive places to put regular money into cryptocurrencies. If you use US dollars, you won’t be charged any fees. But if you use other currencies, there’s a small fee of 0.5%. Compared to other places where you might pay 3-5% using a debit card or e-wallet, eToro is much cheaper.
| Fee to Buy Dogecoin | 3% commission |
| Deposit Fee | 0.7% or free when depositing USD (conversion fees may apply) |
| Top Features | Smart portfolios offer a passive investing experience, fee-free USD payments, and support for dozens of cryptocurrencies |
How We Ranked the Best Places to Buy Bitcoin
In the earlier parts, we listed the top five places to buy Dogecoin in 2024. Now, let’s talk about how we picked these top providers. Keep reading to find out how we did it.
Safety and Security
Cryptocurrencies like Dogecoin aren’t controlled by any rules. That means there are lots of exchanges that aren’t regulated. But don’t worry; there are some exchanges that follow the rules and are safe to invest in.
We look into how trading platforms protect your DOGE tokens. The best exchanges store most of your DOGE in a secure offline location. This makes it unlikely for hackers to steal them because these wallets are not connected to the internet. When we rate the top places to buy Dogecoin, we make sure they follow laws against money laundering, like the Bank Secrecy Act. This requires users to provide a government ID when purchasing Dogecoin with regular money. This helps prevent fraud and illegal money activities in the system.
Account Minimums
Make sure to see wh
at account rules are set by the Dogecoin exchange you’re picking. This involves the least amount you need to deposit, which might change based on how you pay.
Also, check the smallest amount of Dogecoin you can buy or sell in one go. Usually, it’s only a few dollars, but it’s good to double-check.
Fees
Before buying Dogecoin online, make sure to think about the fees involved. Look into the charges for your chosen payment method. Typically, expect to pay around 3-5% if you’re using a debit/credit card or an e-wallet.
You should also see how much it costs to trade Dogecoin when you buy it. This can change a lot depending on where you buy it from.
It’s also a good idea to see what fees you’ll have to pay when you take out your Dogecoin. If you’re taking out Dogecoin, you’ll usually have to pay fees in Dogecoin itself. These fees cover the cost of using the blockchain network. If you’re taking out regular money, you might have to pay a set fee or one that changes.
| Crypto Exchanges | Trading Commission | Payment Fees |
| MEXC | 1% spot trading fees | Debit card fees – 4% |
| OKX | Trading commissions start at 0.1%. Discounts are available when monthly trading volumes increase | Instantly buy Dogecoin with a debit/credit card at 1.99% |
| Coinbase | 4.99% instant buy fee when using a debit/credit card or PayPal. Standard trading fee of 1.54% | ACH and UK Faster Payments are free. USD wire deposits cost $12. SEPA (EUR) costs €0.3. |
| Binance | Trading commissions start from 0.2%. Discounts are available when monthly trading volumes increase | Varies depending on the country of residence and deposit type. |
| eToro | 0.1% commission | 0.5% or free when depositing USD |
Supported Cryptocurrencies
Experienced investors don’t put all their money in one place. They spread it out, like buying Dogecoin along with other meme coins that could grow a lot. So, it’s smart to pick a Dogecoin exchange that lets you trade lots of different cryptocurrencies.
For instance, exchanges like MEXC, Coinbase, and Kraken offer many different cryptocurrencies for trading, such as Bitcoin, Ethereum, Shiba Inu, Cardano, Solana, Uniswap, and Chainlink. If you want to explore new cryptocurrencies, you might want to check out OKX. OKX has recently added Wall Street Memes to its listings, a new cryptocurrency that aims to mimic the price movements of Dogecoin.
Remember, diversification means buying many different cryptocurrencies. So, you’ll need to use an exchange with low investment needs.
User-Friendliness
If you’re new to buying Dogecoin, you should pick a beginner-friendly exchange. MEXC and OKX are good options for starters. Even though they charge slightly higher fees, they offer a safe and easy investment process.
Some platforms are made for people who know a lot about investing, not for beginners. For instance, Kraken lets you borrow money to invest and sell assets you don’t own. These features are too complicated for beginners. Similarly, OKX has advanced tools like charts and robots for trading. These are also meant for experienced investors.
Accepted Payment Methods
If you don’t have any cryptocurrencies, you’ll have to use regular money to buy Dogecoin. Most official trading places let you use common payment ways like debit or credit cards. Some also allow e-wallets.
If you prefer a different payment method, try using the Binance peer-to-peer platform. It lets you purchase cryptocurrencies straight from nearby sellers.
What is Dogecoin?
Basically, Dogecoin is a type of digital money, just like Bitcoin. It works using a system called blockchain, which is also used by Bitcoin. Unlike traditional money controlled by governments or banks, no one person or group controls Dogecoin. It’s spread out, or decentralized. Also, Dogecoin isn’t something physical like coins or bills you can hold. Instead, it’s all digital, stored in special wallets on the internet.
Dogecoin started in 2013 and is one of the oldest cryptocurrencies. It began as a joke, hence the nickname ‘meme coin,’ and uses the Shiba Inu dog as its logo. Despite not having practical applications, some, like Elon Musk, think it’s good for regular transactions due to its speedy and cheap transactions.
In truth, many people invest in Dogecoin to earn cash. For instance, Dogecoin shot up by 14,000% from January to May 2021. Comparatively, regular stock market investments would take centuries to match these gains. Despite Dogecoin’s value dropping over 75% from its highest point, it’s recently been rising again, along with other meme coins. This shows that meme coins, like Dogecoin, can be very unpredictable in value.
Dogecoin Use Cases
People aren’t sure if Dogecoin is really useful. Elon Musk thinks it can be used for buying things. Dogecoin transactions are usually confirmed quickly, and the fees are low. But there are other blockchains that are even better, with cheaper and faster transactions.
Sure, Dogecoin is getting more popular worldwide, so more and more stores are starting to take it as payment. For instance, Dogecoin is now part of the BitPay network, which helps stores accept cryptocurrencies easily.
Bit Pay says over 250 companies use its technology, like Play Station, Adidas, and Airbnb, as well as Burger King, AMC, and Domino’s. Some shops take Dogecoin without BitPay. Tesla’s one big example is taking Dogecoin for certain items.
Dogecoin is Trading at a 75% Discount
Back in May 2021, Dogecoin reached its highest price ever at $0.74. But today, it’s only worth $0.1819. This shows that Dogecoin has dropped in value by more than 75% since then. To give you an idea, if you had invested $1,000 in Dogecoin in May 2021, it would only be worth $250 now.
It’s crucial to keep in mind that the overall cryptocurrency market recently lost a lot of value but is now starting to rise again. This happens because cryptocurrency prices go through cycles. When things are going well, most cryptocurrencies increase in value. But when people aren’t feeling positive about cryptocurrency, most projects lose value.
- For example, Bitcoin was worth more than $68,000 in late 2021.
- A year later, bitcoin fell to a low of $15,500, a 77% drop.
- Other major cryptocurrencies, like as BNB, Ethereum, Solana, Cardano, and Litecoin, have all experienced significant drops.
- With this in mind, Dogecoin’s present price appeals to anyone looking to ride the new meme coin price wave.
Currently, Dogecoin would have to go up more than four times its value to reach its highest point ever. Whether it can do this is uncertain. But if you want to invest in Dogecoin, now might be the cheapest opportunity you’ll ever get.
What is the Cheapest Way to Buy Dogecoin?
There are lots of ways to purchase Dogecoin, and each way has its own pricing plan. This is usually based on how you want to pay and the fee charged by the exchange you pick. You need to add both fees together to know the total cost.
Now, let’s look at Coinbase. If you use a debit/credit card or PayPal, you can buy Dogecoin directly on Coinbase. They charge a fee of 3.99%, which covers both the deposit fee and commission. So, if you invest $1,000 in Dogecoin, it would cost you $39.90 in fees.
If you want to buy Dogecoin for less money, you could try using a local bank transfer. At OKX, customers from Europe (SEPA), the UK (Faster Payments), and Australia (POLi) can put money into their accounts for free.
Once your money is in, you can buy Dogecoin manually and only pay a commission of 0.1%. So, if you invest $1,000, your commission is just $1. But, keep in mind, bank transfers take longer to go through. So, if you want to buy Dogecoin right away, you might want to use a debit/credit card or an e-wallet.
Is Investing in Dogecoin Safe & Legal?
Buying and owning Dogecoin is safe, just like other cryptocurrencies. But be careful of risks. Start by picking a good Dogecoin exchange. Only go for exchanges that are properly regulated.
If you’re from any of those countries listed, you can’t legally purchase Dogecoin. Also, you should think about the tax rules. Basically, if you earn money from your Dogecoin investment, you might owe capital gains tax. Usually, you only pay taxes when you sell Dogecoin and make a profit.
Which is the Best Dogecoin Wallet?
Custodial Storage
Newcomers often purchase Dogecoin and store it either in their exchange account or a hot wallet. This means they’re trusting the exchange to keep their DOGE tokens safe, which is called custodial storage. If you go for this, check if the exchange is properly regulated and has strong security measures like cold storage, KYC, and two-factor authentication.
Non-Custodial Storage
If you’re not okay with relying on someone else to keep your cryptocurrency safe, then you should use a non-custodial wallet. This has good and bad sides. On one hand, only you can get to your DOGE coins. So, you don’t need permission from an exchange to send them somewhere else.
But, you have to make sure your wallet stays safe. If someone hacks into your non-custodial wallet from far away, they’ll steal your Dogecoin. If this happens, you won’t have anyone to ask for help.
If you don’t like storing your assets with someone else, OKX is a good choice. They give you a free wallet for your phone or computer where you control your own keys. Plus, their wallet is available as a browser extension or desktop software. Your keys are kept safe with multi-party computation, so there’s no one weak spot. Also, you can do token swaps, stake your assets, and do yield farming with the OKX wallet.
How to Buy Dogecoin
We’ve talked about all you need to know about investing in Dogecoin. Now, we’ll explain how to invest in Dogecoin using MEXC. We chose MEXC because it’s regulated and accepts various easy payment methods.
- To start, go to the MEXC website and create an investment account. It should only take about five minutes. You’ll have to give some basic personal info and your contact details.
- To put money into your MEXC account, press the ‘Deposit’ button. If you’re using SEPA bank deposits, you need to go through a KYC (Know Your Customer) process to confirm who you are. If SEPA isn’t an option where you are, you can use other methods like credit card payments to add money to your account.
- If you’ve been following our instructions, you should have a confirmed and funded account on MEXC. Now, search for ‘Dogecoin’ and click on the ‘Trade’ button to finish up.
- After you click on ‘Trade’, you’ll see a box where you can place your order. Just type in how much money you want to invest. You don’t have to buy whole tokens because investments are in US dollars. For instance, if you invest $120 in Dogecoin, you’ll get 1866.25 DOGE tokens.
- Once you confirm your investment by clicking, MEXC will immediately carry out your Dogecoin investment.
Conclusion
Basically, buying Dogecoin online takes less than five minutes. But make sure you use a safe exchange that follows rules and protects consumers. We found that MEXC fits the bill—it’s regulated and good for new investors who want to pay with a card or e-wallet. Plus, it has an easy-to-use dashboard and only needs a small initial deposit.
