Dogecoin continues to be one of the popular options in cryptocurrency even though its price has become really volatile. It had a massive drop in the middle of 2021 after reaching its all-time high rate of over 70 cents. Here are some things you have to know about how to buy dogecoin.
Think about How Much You Will Invest in Dogecoin
Perhaps you have heard about people who invested in Dogecoin with only a trivial amount yet ended up becoming millionaires, it always pays if you invest with caution. Always bear in mind that cryptocurrencies are truly risky investments. Dogecoin is highly volatile in a different manner because it has an unlimited supply. When you decide on the amount to invest, consider your overall financial situation, your risk tolerance, and your investment portfolio.
Choose a Cryptocurrency Exchange
Open an account with cryptocurrency exchange for you to buy Dogecoin. This is the place where buyers and sellers have to exchange cryptocurrency for dollars. The popular of these are Coinbase, Kraken, and Binance.US because of their user-friendly platform that charges higher fees and an advanced trader platform with lower fees.
Choose a Payment Option
If you want to know how to buy Dogecoin, make sure that you are familiar with the different payment options available for you. This is because before you can start trading cryptocurrencies, you have to deposit in your exchange account. In the majority of cases, the exchanges will require you to deposit money from a checking or savings account. There are also those who accept Paypal and wire transfers.
Place the Order
After the money is deposited in your account, you can now purchase Dogecoin. On the trading or purchase platform of the exchange, search for Dogecoin and key in its ticker symbol DOGE. Choose the trade type you like then indicate the dollar amount you like to invest or input the amount of Dogecoins you intend to buy.