This is not investment advice. This is for educational purposes only. Please note that cryptocurrency is a very volatile asset class.
“How to buy Dogecoin” is a question plaguing novice cryptocurrency investors who are itching to get their hands on Elon Musk-powered digital assets. As of this writing, Dogecoin has plummeted to 20 cents, making it increasingly attractive to investors who follow the old saying “buy low, sell high”.
I recommend Coinbase Pro for buying Dogecoin. Coinbase Pro is the extended version of Coinbase. Yes, Coinbase Pro’s user interface is daunting compared to Coinbase’s smooth, intuitive user interface, but it’s worth putting up with the unattractive user interface as you pay less fees.
For example, on Coinbase, you have to pay a whopping $ 2.99 fee for Dogecoin of $ 100! Coinbase Pro, on the other hand, only charges 50 cents. However, let me walk you through the process of buying Dogecoin on Coinbase Pro – it’s a lot easier than you might think.
(Image credit: Coinbase)
How to buy Dogecoin buy
Once you’ve created an account on Coinbase Pro and linked your bank account, here are the easy-to-follow steps to buy Dogecoin.
1. Go to “Portfolios” and click on “Deposit” which is located in the top right corner.
(Image credit: Coinbase Pro)
2. Click on your currency (in this case USD).
Coinbase Pro (Image credit: Coinbase Pro)
3. Next, choose how you would like to fund your Coinbase Pro account.
It’s worth noting that if you choose Bank Account, the transfer is free, but you won’t be able to withdraw these funds from your account for about five days. For example, if you top up your account with $ 100, you can immediately buy $ 100 worth of Dogecoin, but you will not be able to withdraw DOGE from your account for several days. You can initiate a wire transfer to avoid the wait, but there will be a $ 10 fee (on top of your bank’s fees).
For this step we click on “Bank Account”.
Coinbase Pro (Image credit: Coinbase Pro)
4. Enter how much DOGE you want to buy and click “Withdraw”.
Coinbase Pro (Image credit: Coinbase Pro)
5. Click on “Trade” and then on “Select Market”. Click on “DOGE-USD”.
Coinbase Pro (Image credit: Coinbase Pro)
6. Make sure the “Buy” button is selected under “Order Form”.
7. In the “Amount” field, enter how much DOGE you would like to buy.
8. Click on “Place Purchase Order”.
Coinbase Pro (Image credit: Coinbase Pro)
And voila! You have just made your first Dogecoin purchase.
Remember that Dogecoin is a meme token (a very volatile asset class). Please practice adequate risk management. As with any investment, invest only what you can afford to lose.
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