Meme coins like Dogecoin and Shiba Inu have brought a new facet to the crypto industry. With their lighthearted and community-driven approach, they played a part in increasing the adoption of cryptocurrencies. But, many users are still getting stuck on hard-to-use platforms not knowing how and where to buy cryptocurrencies. Here we are going to explain how you can buy Dogecoin on eToro, a user-friendly crypto exchange platform.
If you are looking to buy Dogecoin and do not know how to use the eToro crypto exchange platform, this is a perfect guide for you. eToro is a crypto exchange that focuses on providing a friendly platform for both new and experienced investors. Read on to find out how to buy Dogecoin on eToro.
Step-by-Step Guide to Buy Dogecoin on eToro
Step 1 – Create eToro Account
Before buying Dogecoin on eToro, you must create an account first. As a user-friendly platform, eToro makes it simple for you to register and create an account. You need to go to the eToro official website and choose the “Join Now” button.
Then you need to enter your details like name and email address. You would also need to create a password for your account that is strong and not something predictable. After entering the details, click on “Create account” and verify your email address.
Step 2 – Verify Your Identity
The next step is to verify your identity as well as your account. For this, you need to upload a copy of your identity card and proof of address. You can any utility bill like an electricity bill or bank statement as proof of address.
The platform might take a few days to complete the verification process and activate your account. Verifying your identity on eToro is essential to comply with the KYC and AML guidelines. Without this process, you may not be able to purchase Dogecoin on eToro and cannot access all the features of the platform.
eToro platform ensures the security of your funds and personal information. However, you can employ security measures like 2-factor authentication (2FA) to add another layer of security and ensure that your account is safe. You can enable the 2FA option in the “Settings” section and go ahead to buy Dogecoin safely.
Step 3 – Deposit Funds on Your Account
After creating the account and verifying your identity, the next step is to deposit funds in your eToro account. eToro exchange platform supports different payment methods like bank transfers, and online payment systems like PayPal, credit, and debit cards.
Go to the “Deposit Funds” section on the dashboard and select your preferred payment method and follow the instructions. After selecting the payment method, enter the payment details and confirm the deposit amount.
It is important to consider the payment option based on your convenience and preference. Because each method has its own processing time and fees. To understand the Fee Structure of the platform go to the “Fees” section and find the details.
Step 4 – Search on the Watchlist
The next step is to go to the “Watchlist” section on the dashboard. The “Search” and “Filter” sections on eToro help you find your preferred cryptocurrency. On the watchlist, you can find Dogecoin by searching it on the search bar. Next, click on “Dogecoin” and the screen shows DOGE and its price details along with the “Buy” option.
Step 5 – Verify the Details and Buy Dogecoin on eToro
After selecting the “Buy” option, the platform prompts you to enter either the “Amount” or “Units”. For choosing a certain amount worth of DOGE, you can select the amount option. Similarly, for choosing the number of units of DOGE, you can select the units option. Enter these details and click on the “Open trade” option to buy Dogecoin.
In case, you didn’t verify your identity or the address, the platform asks you to verify it in the next step. Next, you must review and verify all the details and ensure they are correct. Then select “Confirm Trade” to confirm buying the Dogecoin. Congratulations, you will now receive Dogoecoin on your account. You can see the DOGE you bought in the “Portfolio” section.
The eToro platform is easy-to-navigate and user-friendly. You can explore various sections on the dashboard like Watchlist, Portfolio, News Feed, and Trade Markets. The platform also allows you to customize your dashboard to display your preferred sections.
Buying Dogecoin on the eToro exchange platform is a simple process. You first need to create and verify your account and then deposit the funds. After selecting payment methods and entering all the details, you can buy Dogecoin on the eToro platform. Hope this guide helps you take your first step in buying DOGE on eToro!
Where Can I Buy Dogecoin?
You can buy Dogecoin on any crypto exchange platform like eToro, Binance, Coinbase, Kraken, etc. It is also possible to buy Dogecoin through investment apps like Robinhood, Webull, SoFi, etc.
Is DOGE Still a Good Investment?
DOGE is a meme coin that witnessed a huge surge in the 2021 bull market. Many investors benefitted from its uptrend and gained considerable returns with small investments. However, it is unlikely that DOGE will replicate its gains in 2021. It is uncertain if DOGE is a good investment in the current market trends of June 2023.
Will Dogecoin Reach $1?
As per Coinmarketcap, Dogecoin is trading at $0.065 as of June 2023. For DOGE to reach $1, its demand needs to increase and supply needs to decrease. It is unlikely for DOGE to reach $1 anytime soon.
Does Elon Musk Own Dogecoin?
After gaining popularity for being a meme coin, Elon Musk further increased its popularity by supporting it. Being known as “Doge Father”, Elon musk certainly owns Dogecoins but it is uncertain how many coins he owns.