Since the launch of the very first cryptocurrency, many other subsequent cryptocurrencies have been established, where developers where either in pursuit of beating the veteran, or supposedly inspired by the idea of Bitcoin. Whichever way, more coin systems followed, where most of them were simply disregarded as low level duplicates of the original blockchain. Still, some of them persevered, gaining recognition for their decentralised services, some of which were unique to those of BTC.
A good example is Litecoin, which is among the earliest alternate crypto releases ever, after having been launched in 2011. From this platform later came another cryptocurrency, one that went by the name Dogecoin. It came to after a branching out by some of the developers who had been operating in LTC prior. Dogecoin is a hard market fork coin that was established back in 2013 by developers Billy Markus and Jackson Palmer. The initial jab at the currency was meant to be a joke, derived from the Japanese dog breed known as the Shiba Inu.
To date, Dogecoin is regarded as the most interactive and fun crypto, where it is now available to purchase in just about any crypto exchange platform. So without further a due, here is a short guide on how to buy Dogecoin right now!
Quick guide on buying Dogecoin – buy instantly with fiat or crypto in Binance
Binance is probably the widest used cryptocurrency exchange platforms in the entire world. Traders and crypto brokers the world over appreciate the platform for the high level of convenience it affords them, allowing them to make purchases with conventional currency accounts and crypto wallets alike. This is all done quite smoothly, where following these simple steps will see you becoming a crypto owner yourself:
- Complete the Binance Sign Up – this creates your platform account with which you can run trades. You will have to go through the entire process of verifying a fiat account, where you will need to provide all the necessary residential, identification and banking documents.
- Fund your Account – before you can purchase anything, your account needs to hold some fiat currency. For more convenient, and possibly rewarding trade, you can use the Binance Coin (BNB), the native token. An account with BNB can very much be used to make purchases. This can be done with debit cards, with PayPal, with Visa or via Bank Transfer.
- Start your purchase Order – you can now choose DOGE as your intended purchase. This is followed by some additional trade settings, most of which will be entered by default.
- Confirm your purchase – entering the required amount and confirming the purchase will transfer the coins to your wallet. You can always check your wallet in the profile section.
How to buy Dogecoin (DOGE)
There are many platforms that facilitate in DOGE trade. That said, it is important to note that all these platforms implore different operational methods of trade. You will find that there are actual classifications into which these platforms are placed, solely depending on how they operate. You will come across what are known as Peer to Peer exchanges, which run direct transactions between the buyer and the seller, acting as mere middlemen for the trade. You will also find Instant Centralsed Exchanges, in which you can make the purchase directly from the platform account. Another type is known as the Derivative Exchange, in which you can make orders for whatever you require, allowing it to pick out the most appropriate seller for you, even sending you a notification.
For reasons to be given in each description, the following are seen to be the most suitable exchange platforms on which you can buy Dogecoin (DOGE):
This is among the most trusted platforms out there, regarded as the best place to buy crypto. Binance is generally favoured for its low transaction fees and its user friendly interface. For more convenient trade, you can download the Binance mobile application, allowing you to purchase DOGE with just a few clicks, wherever you are.
This is a lesser known exchange, but a good one nonetheless. It has been in operation for about half a decade now, accumulating some 5 million users from all over the world. Once you register and verify your account, you need to fund it with fiat currency. At this point, you need to select the ‘Buy option and select a trade pair in the provided drop down, inclusive of DOGE of course – note that crypto and fiat are featured among the trade pairs, the likes of Bitcoin, Euros and British Pounds. Initiate the trade to purchase Dogecoin.
A fully decentralised platform, Chantelle allows users to transact without revealing their identities – the platform does well to conceal data entered by the user on signing up. The first step would be to create an account by registering, where you will be given a temporary pass key. Next, change this passkey to something more secure, after which you need to go through the standard 2FA. With this done, you can now purchase Doge coin.
Kraken is regarded as the cheapest crypto exchange in the industry, listing substantially low transaction fees. The platform operators make it perfectly clear that they are not a wallet service, recommending the use of external wallets. Still, the Kraken account is very secure, allowing you to safely store all your crypto coins. Purchasing DOGE on Kraken is as simple as registering for an account, verifying it for payments, making a fiat deposit and running the transaction. This can be done at any time, from anywhere in the world.
This platform facilitate in trade of a number of cryptocurrencies, DOGE inclusive. The procedure to making a purchase is more or less the same, where you have to register and verify your account, deposit some conventional money, and make the order. Though relatively low, standard transaction fees apply.
Things to consider before buying Dogecoin
Well, there are two main things to consider when buying Dogecoin. Theses obviously come after the initial consideration on where to buy Dogecoin. The first would be the amount, where you should be prepared to lose whatever you invest as a result of the unstable crypto market. Secondly, you must be clear as to the nature of your purchase. This is because some operational standard of DOGE leave it being regarded as a crypto that it more appropriate as a hobby and not for ongoing investment – some even use it to test out the crypto scene, where the losses are relatively lower.
Where to store DOGE
You can keep your DOGE in your platform account. However, this is not recommended as such platforms are prone to attacks. Rather, you should try using external crypto wallets. Hardware wallets are the safest of these, the likes of Ledger Nano and Trezor. Online wallets are quite good too, the likes of Wirex and BitGo.
The great news is that you are able to secure your DOGE, ensuring that it is safe and always protected. Take note of the crypto wallets mentioned above, as they are the greatest tip of all; try to use them at all costs. Also, never accept any trade ‘advice’ from any external parties that reach out for you, these are usually scammers. Another thing is you should not flame out on KYC and 2FA procedures. They may be time consuming, but they are worth it in the long run.
At the moment, Dogecoin is gaining a lot of momentum, largely accredited to it approval by the world’s most favoured tech moguls. It is good on all sides, from its mining which is a bit more conservative, to its operational principles, making the blockchain more interactive, user friendly and not to mention secure. You can purchase your own Doge coin right now, at $0,3784 per token.