How to Buy Dogecoin (DOGE) In 2024

How to Buy Dogecoin in the USA

You can purchase Dogecoin online using a cryptocurrency exchange. This is the easiest way to buy and sell cryptocurrencies—all you need is a computer or mobile device. See below for our top picks of platforms that offer Dogecoin and simple steps to buy Dogecoin.

1. Choose a crypto exchange

To start with, you will need to find a reputable platform that allows you to buy Dogecoin with USD. Check out our recommendations below.

2. Create and fund your account

Sign up and verify your ID in order to unlock your account, then make a deposit.

3. Buy Dogecoin and add it to your investment portfolio

With your account verified and loaded with funds, search for Dogecoin and make a purchase.

Where to Buy Dogecoin in the US?

In this section, we’ll take a look at some of the top platforms that allow you to purchase Dogecoin, including the pros and cons of each and the differences between them.

1. eToro – Overall Best Place to Buy Dogecoin in the US

eToro comes in as our top destination for Dogecoin investors. From our tests, this platform offers the most frictionless buying experience, especially for investors who haven’t purchased cryptocurrency before.

If you fall into this category, it’s likely that you will be intimidated by the websites and apps of the most popular crypto exchanges. eToro avoids this problem by presenting you with an extremely simple, intuitive interface that makes buying Dogecoin feel like buying something on Amazon.

eToro also offers very competitive pricing, with a transaction fee of just 1% on trades and very reasonable spreads (a spread is a difference between the buy and sell prices; this is how brokers make money). This allows you to buy Dogecoin with low fees without having to use a less beginner-friendly platform.

Among eToro’s other top features are the ability to trade more than 60 other crypto coins, the ability to trade non-crypto assets like stocks and forex, and its CopyTrader feature, which allows you to copy the moves of seasoned traders automatically.

The levels of asset diversity and assistance on show here make eToro a great place to embark on your investing journey if you decide to continue after buying DOGE. You can read our full eToro review here.

eToro Pros:

• One of the easiest ways to buy Dogecoin

• More than 60 other coins are available to trade

• $10 minimum deposit means you can start small

• Trade other assets like stocks as well as Dogecoin

• CopyTrader allows newbies to learn from the best

• Great security features and regulatory compliance

• Educational material helps beginners learn

• Make USD deposits using a wide range of payment options, including PayPal

eToro Cons:

• Slightly lower fees are available, if you are willing to brave a more confusing interface

2. Binance – Low Fee Exchange to Buy Dogecoin

Binance is our second choice for those looking to buy DOGE, due to the fact that it has possibly the lowest trading fees in the entire crypto market. However, the savings do come at a price, with the likes of eToro providing a far smoother experience for newer investors.

Binance is the best option for more experienced or frequent traders. With fees at 0.1% for regular users, those who conduct regular trades will end up saving a fair amount if they transact large volumes of DOGE.

Beyond this, Binance attracts more experienced traders with the largest range of cryptocurrencies of any “major league” exchange. With more than six hundred tokens on offer, why stop at Dogecoin? You can also pick up a bag of Bitcoin or Ethereum, or dive into the wild world of altcoins if you so desire.

Binance has faced some regulatory difficulties in countries including the UK, but it could be argued that its ability to survive these is a testament to the exchange’s resilience.

Binance has been around since 2017 and remains the largest exchange on Earth by trade volume. Also, Binance has a dedicated platform for investors from the USA.

With lower fees than all of the competition and the largest range of coins on the market, Binance is a solid choice for either more experienced traders looking to pick up some DOGE, as well as more adventurous newbies looking for low fees and a wider selection of coins. You can read our Binance review here.

Binance Pros:

• By far the lowest fees out there, as low as 0.02% for high-value clients

• Beyond DOGE, more coins are available than anywhere else

• Binance Academy is an exhaustive educational resource

• Allows users to buy Dogecoin with credit cards

• Advanced features like staking and NFTs cater to power users

• TradingView and other tools enable complex trade strategies

• Get help with 24/7 chat support

• Many different trading pairs make Binance the Dogecoin trading platform of choice

Binance Cons:

• Binance’s trading interface can be intimidating for beginners

• Has faced regulatory struggles in the past, no guarantee these are over

3. Coinbase – User-Friendly Exchange to Buy DOGE

Coinbase rounds out our top three, as a perfectly good option for new and experienced traders looking to buy Dogecoin. With a balance between ease of use, a strong reputation, and a good regulatory record, Coinbase works well for first-timers but does command some pretty hefty fees on occasion.

Fees can creep up as high as 4% with certain payment methods, so make sure you check Coinbase’s fee schedule before buying any DOGE. Remember also that bank transfers are almost always the most cost-effective way to fund your account.

Coinbase offers more than 50 coins other than Dogecoin, so like the other two platforms listed above, makes for a good home if you plan on purchasing more crypto after you get your hands on some Dogecoin. You can also buy cryptocurrencies, including DOGE, using credit cards, which makes buying easy even for technophobes.

Coinbase is one of the biggest brands in the crypto space, having even bought an ad slot during the 2022 Super Bowl, meaning that there could be a perceived level of safety when using Coinbase compared to other, less US-centric brands like Binance. It should be noted that Coinbase is also a regulated, publicly listed company, which may be of some comfort to investors of a crypto-cautious nature. You can read our full Coinbase review here.

Coinbase Pros:

• One of the most recognizable places to buy DOGE

• More than 50 other coins available to trade

• Regulated and publicly traded in the United States

• Low trading fees (when using the best payment options)

• Beginner-friendly interface, arguably on par with eToro

• Advanced features like earning and staking are available

• Strong educational resources make beginners feel at home

Coinbase Cons:

• Not as many coins available as Binance

• Fees higher than eToro

• Be aware of high card fees before buying Dogecoin with a card

What Is Dogecoin?

Dogecoin is a light-hearted fun cryptocurrency inspired by a popular internet meme featuring a Shiba Inu dog (Not to be confused with the Shiba Inu coin). It can instantly and securely be sent between people anywhere in the world through the internet.

The coin was created by software engineers Jackson Palmer and Billy Markus to provide a tipping system so that people on Reddit and Twitter can reward content creators they like. Since then, its utility has expanded to include making payments at some online retailers, while many people simply hold Dogecoin as an investment.

Dogecoin has attracted a large and loyal following and has often generated hype on social media. DOGE was the subject of a TikTok trend that saw its price spike in July 2020, while tweets from celebrities such as Elon Musk and Snoop Dogg have also led to surges. Musk even joined the project in an advisory role.

Dogecoin was forked from Litecoin, which means the code that defines Litecoin was copied to create Dogecoin. Like Litecoin, Dogecoin is a Proof of Work network which is secured by mining.

Is Dogecoin a Good Investment?

Whether or not Dogecoin (or any cryptocurrency for that matter) is a good investment is a decision that must be made by the investor themself. Anybody who tells you conclusively that anything is a guaranteed good investment should be treated with the utmost caution.

With that being said, there are many reasons that people may consider DOGE to be a sound investment. We’ll take a look at some of these in this section.

Dogecoin Community

The Dogecoin community is or has been, vociferously supportive of the cryptocurrency. DOGE is one of the oldest coins on the block and has built up a dedicated community of HODLers, users, and enthusiasts. A strong community, or the appearance of one, is no guarantee of future profits, but it can be seen as an indication of demand in the markets.

Celebrity Endorsements

Another draw for many is the association of Dogecoin with multiple celebrities, namely Elon Musk. Some people believe that support from high-profile individuals could drive demand up again in the future, as it has done in the past, leading to potentially viral price surges. However, it must be noted that timing these surges right is very difficult, and shouldn’t be counted on as a guaranteed investment strategy.

You can learn more about investing responsibly with Dogecoin and other coins on our responsible investing page.

What Payment Methods Can I Use to Buy Dogecoin?

There is a number of payment methods that you can use to buy Dogecoin, depending on the broker or exchange you choose to use. Let’s take a look at some of the most popular methods:

• Credit Card – Using a credit card is expensive at times, but also one of the most accessible ways of buying Dogecoin. eToro deposits are free if made in USD. Find out more on our dedicated page on buying Dogecoin with credit card.

• Debit Card – Like credit cards, debit cards are very accessible but can carry a fee. Debit card deposits are free with eToro for USD, though, making this a viable option. Find out more on our dedicated page on buying Dogecoin with debit card.

• Bank Transfer – Although these can take longer than other methods, they are available virtually everywhere and are usually free. They are also very reliable.

• Cash via ATM – Dogecoin ATMs do exist in various countries, and the nearest one to you can be found with a quick Google search. Be aware that there is a high premium attached to purchasing DOGE with cash through a crypto ATM.

• PayPal – PayPal makes online payments super easy, and you can buy DOGE via PayPal by depositing funds into your eToro account for free. Find out more on our page about buying Dogecoin with PayPal.

• Neteller/Skrill – Other third-party payment processors like Neteller and Skrill are available on multiple platforms. If PayPal is not available in your country, these may be suitable alternatives.

• Other Coins – Virtually any exchange will allow you to deposit major coins like BTC or ETH and swap them for DOGE. This is a good option for crypto-native investors.

Ways to Invest in Dogecoin

Whether you prefer to invest for the short term or the long term is a matter of personal experience and choice, but both approaches have the potential to be profitable with DOGE. We’ll look at each in more detail below.

Buy and Hold Dogecoin

As you might expect, this strategy involves buying DOGE and holding onto it in the hope it becomes more valuable. It doesn’t matter if you don’t have skills in analysis as this strategy requires very little time or effort.

DOGE can’t be staked while you hold it as the network is secured by mining, but there are ways for you to spend some of your DOGE, such as tipping content creators, paying at some online retailers, or donating to charity.

Trade Dogecoin

Dogecoin is well known for having a very volatile price. This can be to the benefit of traders who buy and sell DOGE more frequently to generate profits more often. Trading may require skills in technical analysis to identify the best times to buy and sell.

If you are going to be making regular trades, a private crypto wallet may be inconvenient as it would mean having to transfer your tokens regularly. Although less secure, a web wallet may be better suited to a trader’s needs.

Dogecoin Mining

As Dogecoin is a Proof of Work (PoW) coin, it can be mined. Mining involves dedicating your computing resources to securing a blockchain—like Dogecoin’s—in return for newly minted coins.

Mining solo is very difficult nowadays due to the high levels of competition between miners, who all compete for the same new coins, but there are other ways to get involved too, such as group mining and investing in mining companies. You can learn more on our Dogecoin mining page.

Choosing a Dogecoin Wallet

Cryptocurrency wallets are apps or computer programs that allow you to store your Dogecoin. There are multiple different types of crypto wallets, each with different pros and cons depending on your needs. There is an official Dogecoin wallet available to download at Dogecoin.com, but there are several other options available.

• Web Wallets – These are proprietary wallets on crypto exchanges and crypto brokers that store your DOGE in your exchange account. These crypto wallets are not very secure, as the exchange holds your coins, thus making you vulnerable to exchange hacks or insolvency. Only use these while actively trading Dogecoin on an exchange.

• Mobile Wallets – These allow you to store your coins privately on your phone. Trust Wallet is a popular option that allows you to take private custody of your Dogecoins. This is more secure than a web wallet.

• Desktop Wallets – Similar to mobile wallets, except they run as desktop apps. The official Dogecoin wallet is probably your best bet here.

• Hardware Wallets – The most secure type of crypto wallet. These are USB stick-shaped devices that hold your coins, adding another layer of security above a desktop or mobile wallet. They cost money but give you the most protection over your coins. Popular hardware wallets include Trezor, BitBox, and Ledger.

How to Buy Dogecoin On eToro

1. Sign up with eToro

To start with, sign up with eToro, our recommended DOGE vendor. Reputation and security are important aspects to consider, and eToro excels in both of these areas. Input your details, tick the boxes, and hit ‘create account.

2. Verify Your Account

You can verify your email address by clicking on the link emailed to you. Then you will need to complete your profile by providing your name, date of birth, contact details, and proof of identity. You will also be asked questions about your investing experience.

3. Make a deposit

Go to the “Deposit” section of eToro and add dollars to your account using your preferred payment method.

You can use PayPal, debit cards, credit cards, or bank transfers, among others. See the section on payment options above for details on each of these.

4. Buy Dogecoin

Use the search bar at the top to find Bitcoin and hit the “Trade” button.

Enter the amount you would like to invest. You can either choose the amount of DOGE you want to buy or the number of dollars you want to spend. Once you are ready, complete the trade by clicking “Open Trade”. 

Should I Buy Dogecoin Now?

It is up to you whether you make an investment, but we can provide some information about Dogecoin and its potential. Unlike Bitcoin and Litecoin, Dogecoin doesn’t have a capped maximum supply so the number of DOGE in circulation will increase indefinitely. Perpetual inflation can be seen as a negative factor for long-term value as for DOGE to become more valuable over time, demand must grow faster than supply.

Dogecoin is accepted for payments by a number of retailers and has been used to fund projects such as sponsoring Nascar drivers. This provides more uses for DOGE and raises awareness of the cryptocurrency among the general public.

Perhaps the most significant influence on DOGE prices in the past has been social media. If Dogecoin continues to be the subject of celebrity endorsements or social media trends, it could find a wider audience and see further price rises in the future.

The growing utility of Dogecoin and the passion of its community have brought value to the project, while the credentials of the Dogecoin advisors bring a touch of respectability to the cryptocurrency that suggests it could be more than just a meme coin.

Dogecoin Fees & Regulations

When buying Dogecoin, there are a few potential fees you should be aware of. Deposits, withdrawals, and transfers of your DOGE tokens, as well as transactions themselves, are likely to carry some sort of fee, while different payment methods may attract different fees depending on the platform you choose as well.

eToro doesn’t levy a charge on deposits, meaning you know where you stand, and they charge just 1% on transactions. Make sure you are happy with the spread that is shown, too.

If you are trading on a regulated platform, i.e. any legal crypto exchange or broker in your country, then buying Dogecoin is totally legal and within the realms of the law. You may have to comply with certain regulations such as ID verification to satisfy Know Your Customer (KYC) laws.

Dogecoin Price

The price of Dogecoin fluctuates a lot, arguably more than other major cryptocurrencies. If you are planning to purchase some DOGE, this is something you absolutely must be aware of, and you must be prepared for sharp moves to both the upside and downside. To get a better idea of where the DOGE price could be headed, have a look at our Dogecoin price prediction page.

Where Can I Use Dogecoin in the USA?

Dogecoin is a popular token in the US, precisely because of the support it receives from Elon Musk. No wonder, SpaceX became one of the earliest brands to announce the acceptance of DOGE payments when it revealed that “DOGE-1 Mission to the Moon” would be funded in cryptocurrency.

Additionally, Mark Cuban’s Dallas Mavericks accept DOGE. In a March 6, 2021 tweet, the billionaire said his franchise had “done more than 20,000 #Dogecoin in transactions”.

Other brands that accept Dogecoin include the luxury retailer The Kessler Collection, CoinFlip, a cryptocurrency ATM provider, and restaurants such as STEEM, Burger Bear, and more. According to Coin ATM Radar, a majority of the 20,964 cryptocurrency ATMs in the US accept Dogecoin.

Final Thoughts on How to Buy Dogecoin

In conclusion, DOGE is a popular cryptocurrency with many investors due mainly to its celebrity associations and tongue-in-cheek humor and is considered a viable investment by many.

Buying Dogecoin is very simple in 2024. We recommend doing so with eToro for a few reasons: it is easy to use, has reasonable and transparent fees, has a great reputation, and sets you up nicely if you want to invest in other cryptos or asset types in the future.