Dogecoin is the most popular memecoin in the crypto market. It is more popular than several of the most capitalised coins, which is why it can be found on any exchange worth using. However, its widespread availability could confound newbies searching for the best place to buy Dogecoin.
This guide aims to solve this problem. It journeys through 5 of the best exchanges we’ve found to buy Dogecoin.
Best Places to Buy Dogecoin - Our Top 3 Picks
Looking for a quick answer? Here are our top 3 crypto exchanges for day trading.
Best Places to Buy Dogecoin Compared
|
Exchange |
Fees | Coins | Regulation |
| eToro | 1% | 63+ | FCA, CySEC, AFSL |
| Binance | 0.10% | 600+ | AMF |
| Skilling | Dynamic | 55+ | CySEC, FSA |
| Bitstamp | 0.5% | 75+ | CSSF |
| OKX | 0.1% | 343+ |
VARA |
Our Best Places to Buy Dogecoin Reviewed
1. eToro – Best Overall Exchange
eToro is our top place to buy Dogecoin because it is home to a vibrant community of investors, supports free deposits and withdrawals, and provides tools for investors to make sound decisions. The platform offers a lot more than just a means to buy Dogecoin.
You can deposit funds easily using any of the multiple supported methods, some of which include bank transfers, credit cards, Sofort banking, Skrill, Neteller, PayPal, and Payoneer.
However, not all providers are available to users in all regions. For example, US users may not have access to Sofort banking as it is primarily a European service.
Crypto conversions cost 1% of the transaction value while deposits are limited to a minimum of $10. Deposits and withdrawals are free. However, withdrawals above $30 cost $5.
To learn more about this platform, read our full eToro review here.
eToro Pros
- Commission-free trading
- Well regulated
- 63+ cryptos supported
- Easy to use
- $10 minimum deposit (UK and USA)
- Copy trading features
eToro Cons
- Unavailable in some countries
- Not as many cryptocurrencies as other global exchanges
eToro Features
- Multi-asset support
- Free deposits
- Flexible payment methods
- Global reach
- Large user base
2. Binance – Lowest Trading Fees
Binance has one of the largest crypto collections in the industry and charges one of the lowest trading fees. For this reason, users around the world flock to it as their primary platform.
The exchange has a massive collection of over 600 coins, including Dogecoin, and new coins are constantly being added to the list with favourites still there, making it a great place to buy Ethereum as well,
When it comes to fees, Binance charges a base 0.10% conversion fee for trades. While this is already lower than most competitors, it can still get lower when you hold the exchange’s native coin, BNB, on your balance. The more BNB you hold, the lower your fees until a floor between 0.02% and 0.03%.
When it comes to financing fees, however, Binance doesn’t shine as bright as some others. The exchange accepts three major payment methods: credit cards, bank transfers, and third-party services in some cases.
For certain currencies, the bank transfer method is a third party service that ends up requiring you to pay with your bank card, not a native bank transfer. These are not usually the cheapest payment methods.
For example, Binance charges a 1.8% fee on credit card deposits while third-party deposit methods, like Simplex or Banxa, come with intermediary fees.
However, you are not left without a way out. Binance runs one of the largest peer-to-peer (p2p) marketplaces in crypto that connects buyers and sellers, allowing them to trade crypto among themselves using flexible and often local methods.
For example, you could exchange Dogecoin with a counterparty using a local bank transfer as your payment method. Binance’s p2p market supports around 70 payment methods.
To learn more about this platform, read our full Binance review here.
Binance Pros
- Low fees
- Large coin selection
- Advanced trading tools
- 24/7 chat support
- Mobile app
Binance Cons
- Could be a bit technical for beginners
- Faces regulatory hurdles in some jurisdictions
Binance Features
- Large daily trade volume
- Segregated accounts for Futures, Spot, and Margin trading
- High Leverage options for Futures
- Fast execution speed
3. Skilling – Best Place for Dogecoin CFDs
Skilling is a crypto broker for people who are more interested in trading Dogecoin than owning it. This exchange offers crypto Contract for Differences (CFDs) which are derivatives that allow traders to profit from crypto price movements without having to own the asset.
With Skilling, you get access to CFDs for over 55 cryptos at an affordable 0.2% per trade. However, you’ll need a $100 minimum deposit to begin. Once you deposit, you gain access to a 1:50 leverage facility.
You can fund your account using several payment methods like bank transfers, PayPal, and even cryptocurrencies like USDT and BTC. Legacy funding methods attract a 2.9% charge while crypto funding is free.
Once you’re all set up, you can trade Dogecoin in both uptrends and downtrends. And if you get tired, you can move to other asset types like stocks, currency pairs, and even indices.
To learn more, read our Skilling review.
Skilling Pros
- 2% margin requirement
- Supports crypto deposits
- Highly secure and well regulated
- Cheap Bitcoin spreads
- 1:50 leverage facility
Skilling Cons
- Minimum deposit higher than others
- Not suitable for investors
Skilling Features
- Multi-asset support
- Flexible funding methods
- Secure and regulated by multiple agencies
- Intuitive user interface
4. Bitstamp – Most Secure Place to Buy Dogecoin
Bitstamp is known for its security as the exchange uses bank-grade encryption to safeguard its user deposits. It also keeps about 95% of all user funds in secure cold wallets, away from the reach of would-be attackers.
The exchange also offers over 75+ tradable cryptos, including Dogecoin. Trading fees are a tad higher than those of competitors at a cap of 0.3% to 0.4% per trade. However, accounts with monthly trade volumes below $1,000 do not get charged for conversions.
Accounts with monthly trading volumes above $1,000 but below $10,000 attract fees between 0.30% – 0.40%, however, this is the highest fees you’ll pay. Once your monthly trade volume surpasses $10,000, the fees start to reduce with increased volume until it reaches a floor of 0.03% (usually for volumes above $1 billion).
While Bitstamp is suitable for investors, it also offers a Pro Trader platform that features a fully functional trading terminal with dynamic orders, analytic tools, and market insights. You also get 24/7 customer service, and the familiar feel of legacy trading platforms.
To begin trading, sign up for an account and deposit funds using any of the available payment channels like credit cards, international wire transfers, Faster Payments (UK), ACH payments, Google and Apple Pay, and SEPA transfers. Withdrawals also support the same channels.
Wire transfers cost 0.05% at a minimum of $7.5 (£5) and a maximum of $300 (£250) while withdrawals cost 0.1% at a minimum of $25. Sepa deposits are free while withdrawals cost €3, ACH transfers are free in both directions, and Faster Payments deposits are free while withdrawals cost £2.
Credit card transactions, Google Pay, and Apple Pay are the more expensive but faster options, costing 5% per transaction for both deposits and withdrawals.
Bitstamp Pros
- Implements military-grade security
- Regulated by the CSSF
- Transparent fee schedule
- Flexible payment methods
- Low minimum deposit requirement
Bitstamp Cons
- High trade fees for smaller amounts
Bitstamp Features
- High security
- Deposit insurance
- Dedicated trading terminal
- Fast execution speed
- >95% uptime
5. OKX – Best Place with Web3 Features
OKX adopts a holistic approach to crypto services. It is ideal for users who wish to do more than just trade or invest. While some may wish to only buy Dogecoin, others may wish to experience what web3 has to offer.
This exchange is better suited for the latter. It serves as both an exchange and a portal into web3 gaming and NFTs.
On the exchange side, it offers crypto assets like coins and derivatives for more trader-centric users. These derivatives include Futures, Options, Perpetuals, and Indices.
The spot market offers over 300 cryptos including Dogecoin that you can easily swap between using the free quick conversion service. However, it only converts at market prices for a limited amount.
To set limit orders, use the clean-cut basic trading interface with variable order types. You’ll have to pay a trading fee between 0.06% and 0.10%.
To begin trading, you’ll need to buy crypto or transfer crypto directly to your account. Unfortunately, you cannot deposit cash to your OKX account, you’ll have to buy crypto using a credit card, a third party service, or through the p2p marketplace.
OKX Pros
- Support for up to 30 fiat currencies
- 24/7 customer support
- The convert option is free
- Access to a larger web3 ecosystem
- Large selection of cryptos on the spot market
- Several options for growing crypto funds
OKX Cons
- Unavailable to US residents
OKX Features
- Supports over 300 cryptos
- Clean, new-age UI
- Robust derivative selection
-
OTC trading desk
What is Dogecoin?
Dogecoin is a cryptocurrency that falls under the category of memecoins. It was originally created using Bitcoin’s code but with some variations to make it faster and more efficient.
However, unlike Bitcoin, which was created as an alternative money system and payment network, Dogecoin was created as a joke. Software engineers Billy Markus and Jackson Palmer built the crypto network as a parody to Bitcoin and other cryptocurrencies with grand plans, and even purposely used a misspelt word as the crypto’s moniker.
Dogecoin, being the first of its kind, became popular among crypto enthusiasts as they “adopted” the pet-based coin with a Japanese Shiba Inu as its logo.
Now, the crypto is the leader of a whole new category of cryptocurrencies called memecoins which have become essential to the social sphere of crypto ecosystems. It has a market capitalisation of roughly $12 billion at the time of writing, and is the 11th largest cryptocurrency.
Key Things to Consider When Choosing the Best Place to Buy Dogecoin
Security
The first, and possibly most important consideration where cryptocurrency is concerned, is security. The industry is rife with stories of hacks and breaches that have left investors reeling from losses. Hence, any platform you consider must have tight security.
To ensure this, look out for security certifications for financial technology businesses. A popular one is the ISO certification.
Also look out for extra security features, like the two-factor authentication (2FA) which prevents attackers from accessing your account even if they get a hold of your password.
Storage Options
If you intend to store your Dogecoins on an exchange, then you need to consider the storage infrastructure available. Usually, exchanges provide account-associated crypto wallets to store your coins.
Another consideration is the safety of the exchange’s storage infrastructure. Centralised exchanges are a prime target for hacks as attackers know that they usually have one or more vaults with significant amounts of crypto assets.
The exchange should use cold storage for a majority of deposits, leaving a small fraction in the hot wallets for trading and easy withdrawals. This keeps funds away from the internet, making them difficult to steal.
You’ll find that exchanges using cold storage place a limit on the amount you can easily withdraw at a go. For significant withdrawals, you’ll have to wait for funds to be moved from cold storage to the hot wallet.
Payment Methods
Your ideal exchange should support payment methods that are accessible to you. Most exchanges support credit card payments, but they can be expensive, especially if you intend to buy frequently.
On another hand, bank wires take days to process and can preclude you from opportunities to buy at favourable prices. You should have at least one payment method that is cheap and fast.
User Friendliness and Accessibility
The importance of this consideration depends on how often you use the exchange. If you only use exchanges as a broker and eventually end up storing your coins on an external wallet, then you may not need to focus much on user friendliness, provided you can buy and withdraw crypto.
However, if you plan to trade or store your coins on exchanges for Dogecoin Gambling sites, then you may want to opt for one that is easy to use. The interface should be easy to navigate, even for beginners. It should also have a mobile app to ease accessibility on the go.
Asset Selection
While Dogecoin is the focus here, it would be ridiculous to use an exchange that only sells Dogecoin (in truth, none exists). Ideally, the more coins an exchange offers, the better, but this is not a hard rule.
A pattern we’ve noticed is that global exchanges offer more coins than regional ones. Their payment methods are not always customised to popular options in specific regions, so they use universal methods like credit cards or wire transfers, which could be expensive.
Regional exchanges do not usually have as many coins as global ones but integrate payment methods that are easier for users within the region. For example, Coinbase allows US users to use Google and Apple Pay as well as PayPal.
You may want to balance coin selection with payment methods.
Fees
Fees usually include trading fees and financing fees. The trading fee is the charge levied on coin swaps or limit orders. It is the core charge that comes with the process of converting between coins.
Financing fees, on the other hand, include fees associated with funding activities like deposits and withdrawals. Some exchanges charge fees for various funding methods. For example, Binance charges 1.8% for credit card deposits.
Some exchanges charge account related fees, like a monthly subscription or software licensing fees. For example, eToro charges a $10/month inactivity fee after 12 months of inactivity.
Fees could add up easily, especially when you make frequent deposits and withdrawals. Ensure you are aware of all the fees associated with using any exchange before signing up.
Final Thoughts
We explored the best places to buy Dogecoin and chose eToro as our top choice because of its flexible funding methods, free financing structure, stable regulatory position, and vibrant community.
Nonetheless, all the exchanges on our list are viable options on the off chance that you cannot use eToro. If you choose other exchanges, you can check out our how to buy Dogecoin page for more information.
Methodology - How We Picked the Best Crypto Exchanges With Lowest Fees
The platforms covered in this guide were chosen through rigorous testing, research, and reviews. We paid attention to security, transparency, reputation, trading fees, deposit and withdrawal methods, and competitive edge.
The platforms listed are the best we found in the various categories we listed them. For example, we found that Bitstamp emphasises security and hence named it the most secure place to buy Dogecoin.
Check out our why trust us and how we test pages for more information on our testing process.