Dogecoin is a popular cryptocurrency that was created as a “meme coin” in 2013 but has since gained a loyal fan base and a market capitalization of over $10 billion. It is known for its humorous and friendly community, as well as its frequent use for tipping and charity donations online.
If you are interested in buying Dogecoin, you may be wondering how to do it safely and easily. Many crypto platforms allow you to buy DOGE.
eToro is the best crypto “social trading and investing platform” that offers a variety of financial instruments, such as stocks, commodities, currencies, ETFs, and cryptocurrencies. It also has a unique feature called CopyTrader, which allows you to copy the trades of other successful investors on the platform.
In this guide, we will show you how to buy Dogecoin on eToro in five simple steps. By the end of this article, you will be able to buy DOGE crypto on eToro with confidence and ease.
Also Read: What is Dogecoin and it’s working.
How to Buy Dogecoin on eToro: Step-By-Step Guide
Buying Dogecoin on eToro is easy and straightforward. You can follow these steps:
- Sign up for an eToro account
- Verify your identity and address (KYC verification)
- Deposit funds into your account
- Search for Dogecoin and click on Trade
- Choose the amount and execute the trade
- You have successfully bought dogecoin on eToro
- Transfer and store DOGE in a crypto wallet
Step 1: Sign up for an eToro account
To buy Dogecoin on eToro, you need to have an account with the platform. You can sign up for free by clicking the “Join Now” button on the top right corner of the homepage. You will need to provide some basic information, such as your name, email, phone number, and password. You will also need to agree to the terms and conditions and privacy policy of eToro.
Step 2: Verify your identity and address
After signing up, you will need to verify your identity and address to comply with the regulatory requirements of eToro. You can do this by uploading a copy of your passport, driver’s license, or national ID card, and a proof of address document, such as a bank statement or utility bill.
You can also use your webcam or smartphone camera to take a selfie and scan your documents. The verification process may take a few minutes or up to a few days, depending on the volume of requests.
Step 3: Deposit funds into your account
Once you have verified your account, you can deposit funds into it using various payment methods, such as credit/debit card, PayPal, Skrill, Neteller, wire transfer, bank transfer, or local online banking.
The minimum first deposit amount is $200, but you can deposit more if you wish. You can also choose from different fiat currencies, such as USD, EUR, GBP, AUD, or CAD.
Step 4: Search for Dogecoin and click on Trade
To buy Dogecoin on eToro, you need to search for it in the search bar at the top of the page. You can type in “DOGE” or “Dogecoin” and select it from the drop-down menu. You will see the live price chart, market stats, news feed, and social activity of Dogecoin on its page. To buy it, you need to click on the “Trade” button on the top right corner of the page.
Step 5: Choose the amount and trade Dogecoin
After clicking on the Trade button, you will see a pop-up window where you can choose the amount of Dogecoin you want to buy. You can either enter the amount in USD or DOGE units.
You can adjust the leverage, stop loss, and take profit settings according to your risk appetite and trading strategy. When you are ready, you can click on “Open Trade” to execute the trade. You will see a confirmation message and your position will be added to your portfolio.
How to Store Dogecoin on eToro?
You have two options to store your Dogecoin on eToro: “eToro account or eToro Wallet“. The eToro account is an online platform where you can trade and invest in different crypto assets, including cryptocurrencies. The eToro Wallet is a mobile app that lets you store, send, and receive cryptocurrencies safely.
To transfer your Dogecoin from your eToro account to your eToro Wallet, you need to do the following:
- Sign in to your eToro account and go to the Portfolio page.
- Click on the Dogecoin position and select “Edit Trade”.
- Click on the “Transfer to Wallet” button and confirm how much Dogecoin you want to transfer.
- You will get a confirmation email with a link to download the eToro Wallet app if you don’t have it yet.
- Follow the instructions in the email to finish the transfer.
Read: How to buy Bitcoin on eToro
How to withdraw Dogecoin from eToro?
To withdraw Dogecoin from eToro, you need to have the eToro money wallet app on your mobile device. You can withdraw your Dogecoin from your eToro Wallet to any other wallet such as MetaMask or Exodus that supports the DOGE token by doing the following:
- Open the eToro Wallet app and sign in with your eToro details.
- Tap on the Dogecoin icon and select “Send”.
- Enter how much Dogecoin you want to send and the address of the other wallet.
- Check the transaction details and confirm.
Read: How to buy Ethereum on eToro
FAQs
What is eToro?
eToro is a global online platform that allows users to trade and invest in various financial markets, such as stocks, commodities, currencies, indices, ETFs, and cryptocurrencies.
Is eToro safe to buy DOGE crypto?
Yes, eToro platform is safe to buy DOGE crypto. It is a regulated and licensed platform that follows strict security standards and protects its users’ money and data.
Some of the security features that eToro offers are SSL encryption for all data transfers, Two-factor authentication for login and transactions, Separate accounts for client funds, Multi-signature wallets for cryptocurrencies, and Advanced verification procedures for identity and address.
How much does it cost to buy Dogecoin on eToro?
You need to pay 1% for each Dogecoin trade on eToro. This is a bid-ask spread fee. It means the gap between the buy and sell price of a crypto coin. This fee is already in the price shown on the platform. It applies when you open or close a position.
eToro has other fees too. They are conversion fees, withdrawal fees, and inactivity fees.
