- Fees: Exchanges usually charge a relatively low trading fee between 0.1 and 0.3 percent on every trade, whereas broker services usually charge higher buying fees of up to 10 percent. Besides trading fees there are often fees for deposits and withdrawals.
- Verification: Most exchanges and broker services require you to verify your identity before you can start depositing fiat currencies like Dollars or Euros. The verification methods vary among different providers, but usually you will be required to upload a copy of your passport (or other identity document) and a valid proof of residence (e.g. a utility bill). The verification process may take between 10 minutes (using video conferencing tools) and several weeks.
- Payment Methods: To buy Bitcoin, Ethereum or other currencies you need to deposit money on a marketplace. Most exchanges only offer you the possibility to deposit money using wire transfer, which can take up to 5 days. Broker services, however, often offer additional payment methods such as VISA or MasterCard at an additional payment fee.
- Security: Security also plays a major role when trading cryptocurrencies- There have already been several hacks of cryptocurrency marketplaces. Cryptoradar helps you filter providers by offered security features such as 2FA, cold storage or multisig wallets. We also encourage you to not keep significant amounts of fiat or digital currencies on exchanges as these might be affected in case of an hack.
Here’s how to buy Dogecoin:
- Get a Dogecoin wallet (Ledger, Exodus)
- Locate your Dogecoin address
- Find a Doge exchange (Binance, Bitpanda)
- Buy Dogecoin
- Withdraw your Doge
Get a Dogecoin Wallet
There’s no shortage of options when it comes to Dogecoin wallets. There are different types of wallets for you to consider, and each wallet can vary in terms of features, usability, and security.
Locate your Doge address
Once you have your Dogecoin wallet it’s time to get your Dogecoin address. A Dogecoin address is a long string of letters and numbers that starts with a capital D followed by a number or another capital letter. Here’s an example: DBXu2kgc3xtvCUWFcxFE3r9hEYgmuaaCyD.
Find a Doge Exchange
Surprisingly enough, Dogecoin doesn’t receive much support when it comes to finding a reputable exchange to purchase it on. Only a handful of vetted exchanges supply an option for purchasing Doge with Dollars or Euros.
There are several exchanges through which you can comfortably purchase your dogecoin and. We have compiled a list of few of the in this post. See below:
Withdraw your Doge
It’s always sensible to store your cryptocurrency in a wallet rather than on an exchange. This reduces the risk of your cryptocurrency being lost or stolen. So don’t forget to withdraw the Doge you’ve bought out of the exchange and into your own wallet using the address you got in step 1. If you keep your Dogecoins on the exchange, you’ve basically given up the control of the coins—if the exchange gets hacked or goes bankrupt, you may end up losing them.