In social media and online channels, crypto users and beginners typically ask valuable questions like “How to buy dogecoin” or “Where to buy dogecoin?”

Dogecoin (DOGE) is one of the most popular cryptocurrencies today. Many people consider DOGE as a ‘joke currency,’ but it actually has a stable value that’s worth looking into. Recently, many crypto beginners are also eager to know how to buy Dogecoin (DOGE) and earn from it. 

If you’re planning to buy Dogecoin (DOGE), now is the perfect time. The process of buying DOGE is easy, and the coin is supported by many cryptocurrency exchanges.

DOGE Buying Guide

Step One: Find an Exchange That Supports Dogecoin (DOGE)

The first step is simple: you need to look for a DOGE-ready cryptocurrency exchange. There are dozens of crypto exchanges to choose from, and they all have respective strengths and weaknesses.

  • 500+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.075%*-0.1%*
  • Sign-up bonus: 10% reduced trading fees*
  • Available in Europe, Asia, Oceania, Africa
  • 300+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 0.020%*-0.070%*
  • Sign-up bonus: 5% reduced trading fees*
  • Available in Europe, Asia, Oceania, Africa
  • 150+ Cryptocurrencies Available for Trade
  • Fees (Maker/Taker) : 1.49%*-3.99%*
  • 10$ Sign up bonus
  • Available in North America, South America, Europe, Asia, Oceania, Africa

During the sign-up process, you must enter your personal information such as full name, address, phone number, and email address. Some crypto exchanges might also ask you to fill up a Know-Your-Customer (KYC) form for additional security measures.

Step Two: Add Funds to Your Account

Before you can buy a Dogecoin or any crypto coin for that matter, you need to deposit funds to your account. Cryptocurrency exchanges usually accept fiat currencies like USD, EUR, and AUD. You can also choose from multiple deposit methods with varying fees and rates.

Just remember that some methods have higher fees than others. You probably need to stretch your budget a little to cover the difference between these fees.

Step Three: How to buy Dogecoin Token (DOGE) Officially

After depositing funds to your account, you can now start buying Dogecoin. First, you need to go to the exchange’s navigation panel. Search for active Dogecoin (DOGE) market pairs and input the amount that you want to buy. You have to be careful with this process because reversing any transaction is difficult!

Any cryptocurrency exchange will also calculate the Dogecoin amount against your inputted funds automatically. You don’t need to do any manual computation because the crypto exchange automates the whole process.

What You Need to Know About Dogecoin (DOGE)?

Dogecoin (DOGE) is the crypto-incarnation of the 2013 Doge meme. The icon of Dogecoin contains the popular Shiba Inu image, winning over the hearts of meme-loving crypto traders around the world. 

The founders of Dogecoin, Billy Markus and Jackson Palmer, designed the Dogecoin as a light-hearted cryptocurrency with an abundant supply. This factor separates Dogecoin from Bitcoin, as the latter has scarce supply and massive value. 

The major factor that contributed to Dogecoin’s sweeping popularity is social media – Reddit, specifically. Through Reddit, people managed to utilize Dogecoin as a rewarding asset for creative artwork, inspiring threads, and witty comments. The existence of Dogecoin also led to the creation of Doge meme merchandise and hundreds of Shiba Inu meme references.

Dogecoin Mechanism: How Does Dogecoin Work?

Based on the schematics of the Luckycoin, the Dogecoin is highly similar to other cryptocurrencies and tokens. DOGE’s value depends on the law of supply and demand, but it is highly sensitive to meme-focused initiatives, particularly the ones driven by social media. 

Another unique thing about Dogecoin is its merged mining system. Through this protocol, Litecoin miners can also earn Dogecoin at specific intervals. Currently, Dogecoin doesn’t have a known maximum supply limit. This factor contributes to the general stability of Dogecoin despite the price fluctuations in the past years.

Dogecoin Mining 101

Anyone with the right resources and competitive equipment can mine for Dogecoin. The mining system for Dogecoin utilizes the Proof-of-Work system, relying solely on computing power and transaction confirmations.

The major benefit of mining for Dogecoin is hedged risk. Through Dogecoin mining, you have the opportunity to gain Litecoins along the way. Once you have accumulated enough Dogecoins and Litecoins, you can start trading across multiple channels or fronts. Of course, the mining process takes time and your equipment will still burn energy day in, day out.

Efficiency is also another surprising benefit of Dogecoin mining. Even though your equipment burns energy through Doge mining, it burns significantly less due to the merged-mining model. Also, you can also integrate your Doge mining efforts with the popular Harmonychain hardware – an ASIC miner designed to reduce Doge’s energy consumption.

The challenge of Dogecoin mining is DOGE’s inherent lack of supply limit. As the years go by, Dogecoin’s value will plummet due to massive supply. Dogecoin’s projects and burning mechanisms can only go so far as to counter the financial risk. If you’re a beginner miner, you should consider the financial implications of Dogecoin mining. You must also be ready to pivot to a different trading strategy if you cannot offset the costs associated with Dogecoin mining.

All About Dogecoin Mining Shares and Pools

Dogecoin mining is difficult for one computer to accomplish. To solve a Dogecoin block, a group of miners backed by powerful equipment are needed. The miners are organized into pools that must work together to solve a Dogecoin block. Once the work is complete, the pool members are rewarded based on their contributions to the mining effort.

In a typical Dogecoin mining process, only one miner can solve the block. This might feel unfair to other pool members who have contributed to the effort. The solution is to award Dogecoin mining shares to everyone in the pool. Depending on the share and the difficulty of the current block, the pool miners will get specific amounts of Dogecoin. In this way, every miner will get an incentive for the difficult mining process.

What Makes Dogecoin (DOGE) Unique?

Dogecoin (DOGE) is not just about leisure and meme proliferation through cryptocurrency. The thriving Dogecoin community has a series of wonderful projects mostly related to charities and global movements. 

One prominent event tied to the Dogecoin community is the Jamaican bobsled team fundraising in 2014. The flow of Dogecoin sales helped the bobsled team participate in the much-anticipated Sochi Winter Olympics. The Dogecoin community also spearheaded the creation of Kenyan water wells, thus improving the lives of thousands. 

Nowadays, you can purchase a Dogecoin and support a growing movement. This movement can be a fundraiser for an event or a charity donation drive meant to improve the living conditions of a community.

Who Are the Founders of Dogecoin (DOGE)?

The brilliant minds behind Dogecoin (DOGE) are Billy Markus and Jackson Palmer. Markus is a prominent IBM software engineer, while Palmer is a software engineer from Adobe. These Dogecoin creators believed that DOGE will start as a ‘fun currency’ and evolve into an asset that can help many people worldwide. Somehow, Markus and Palmer were right. The viral nature of Dogecoin led to the creation of numerous initiatives and fundraising events. Even though Jackson Palmer left the world of crypto in 2015, Dogecoin (DOGE)’s popularity continued to skyrocket. Elon Musk has also tweeted about Dogecoin, further increasing the value of the coin through hype movements.

What Are the Use Cases of Dogecoin (DOGE)?

Here are the popular use cases of Dogecoin (DOGE):

  • Speculative trading
  • Online tipping
  • Fundraising
  • Buying merch
  • Payments

Official Website: https://dogecoin.com/

Essential Points of the Dogecoin (DOGE) Whitepaper

The Dogecoin (DOGE) Whitepaper is simple and straightforward. The paper emphasized the goal of DOGE to become a truly dependable Internet currency with lots of utility functions. 

Check out the valuable points of the Dogecoin (DOGE) Whitepaper:

  • Scheduled and streamlined block rewards for mining pools
  • Online tipping and rewarding for content creators
  • DOGE used for charitable works and fundraising events
  • Multidoge and Doge Core wallets
  • Long-term ease of access for everyone

What Are the Best Crypto Wallets for Dogecoin?

After learning how to buy Dogecoin (DOGE), it’s time to get a reliable crypto wallet. You don’t need to know everything about crypto wallets and their specifications. You just need to understand your trading habits and security preferences.
These are the following factors that can affect your choice of crypto wallet:

  • Trading frequency – If you’re planning to trade often, you can benefit from getting a hot wallet. Basically, a hot wallet is a digital wallet that allows you to store cryptocurrencies. Signing up for a hot wallet is quick, convenient, and free.
  • Choice of crypto – Your choice of cryptocurrency matters a lot because not all wallets accept a broad range of cryptos. It’s a good thing that Dogecoin is widely accepted by most digital wallet providers.
  • Extra features – Hot wallets have additional features that will help you maximize the potential of your cryptocurrencies. Some extra features are related to analytics, cryptocurrency insights, and more security or authenticity options.
  • Level of security – While hot wallets are secured, they are not as secured as cold storage wallets (physical storage). Hot wallets are prone to online vulnerabilities, unlike cold wallets that you can store in safe deposit boxes or even banks. 
  • Associated costs – If you’re concerned about initial costs and fees, just pick a hot wallet storage option. Digital wallet registration is free, but you have the option to add features later. Physical storage, on the other hand, requires a price investment before you can even store cryptocurrencies.

Upping Security: Premium Cold Storage Wallets for Dogecoin

Knowing how to buy Dogecoin (DOGE) is one thing, but getting a reliable crypto wallet is another. Through this digital wallet, you can start trading Dogecoins (DOGE) or other crypto coins right away. However, if your portfolio is growing, you might consider the additional security options offered by the world’s most popular physical storage wallets.
Ledger, for example, is an all-in-one solution to your cold storage needs. The company’s cold storage products are known for high-tier security with strict limits based on your trading preferences. Ledger’s security interface also disallows trading if your physical wallet is not connected to the computer.
Trezor is another great option for crypto beginners and professionals. One advantage of Trezor is its seamless UI, intuitive controls, great compatibility, and unique styles. Trezor storage products are also affordable.

General Market Overview for Dogecoin (DOGE)

Do you want to further understand Dogecoin (DOGE) and its schematics? Check out our crypto blog for additional information and insights!

Inside our blog, you will find topics related to the following:

  • Trading news about Dogecoin (DOGE) and other cryptos
  • Current crypto prices and rates
  • Detailed price charts with histories
  • Whitepaper summaries and roadmap notes of cryptocurrencies
  • Strategies for crypto beginners

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