How to Buy Dogecoin with PayPal in 2024 - Safely & With Low Fees

How to Buy Dogecoin with PayPal

If you’re looking for a simple way to buy Dogecoin with PayPal, all you need to do is sign up with a crypto exchange. You can access it online with a computer, smartphone, or tablet to quickly buy and sell Dogecoin and a range of other cryptocurrencies. The best platforms are listed below as well as a quick step-by-step guide on purchasing Dogecoin with PayPal.

1. Choose a platform

The first step is to choose a platform. Platforms will be reviewed in more detail below or you can choose from one of our top choices. You’ll need to fill in your details on the registration form to create an account and provide a photo ID to verify your identity.

2. Fund your account with PayPal

Head to the deposit page once your account has been verified and type in how much you want to deposit. You will need to set the payment method as PayPal. You will be redirected to PayPal where you will need to enter your password. After that, simply hit the “Deposit” button to transfer your funds.

3. Buy Dogecoin

Search your platform for Dogecoin. You can create a limit order if you want to buy DOGE once it reaches a certain price, or use a market order if you want to buy it straight away at the current price. Just enter the amount that you wish to purchase and click on the “Buy” or “Trade” button.

4 Ways to Buy Dogecoin With PayPal

Here are detailed reviews of some of the best places to buy Dogecoin with PayPal, along with step-by-step instructions on how to do so.

1. Buy Dogecoin with PayPal on eToro

Multi-asset platform eToro accepts PayPal payments for Dogecoin purchases and is famed for its social investing features. Its reputation, free deposits, and unique features make it number one on our list.

How to Buy Dogecoin With PayPal on eToro

1. Create a free account

Go to the registration page by clicking “Join Now” on the website. An email address, username, and password will be required. Click the “Create Account” button once you have accepted the terms and conditions.

2. Verify your account

You will receive a link by email to confirm your email address. After that, you will need to provide details such as your full name, date of birth, address, and phone number. You may need to submit a picture of your photo ID and answer questions about your investing experience to complete your profile.

3. Make a deposit with PayPal

Fund your account by hitting the “Deposit Funds” button, choosing your local currency, and typing in how much you want to deposit. In the dropdown list of payment options, select PayPal and click “Continue”. Enter your PayPal password when you are redirected to PayPal and complete the transaction.

4. Buy Dogecoin

Search for Dogecoin using the box at the top and click on “Trade”. If you want to specify a price to buy DOGE at in the future, you can switch from “Trade” to “Order”. To buy now, enter the amount you want and hit “Open Trade”.

Why use eToro?

eToro is a regulated platform and a safe place to buy Dogecoin thanks to its industry-best security practices. The platform has been around for many years and has garnered millions of users globally and a strong reputation.

The unique CopyTrader feature makes eToro stand out from its competitors. Inexperienced users and those who don’t have time to monitor the market can simply replicate the trades of the best DOGE traders around the world.

Experienced traders will appreciate the charts, stats, and research on Dogecoin, but the clear layout and easy-to-navigate platform also make it a great place for beginners. You can even practise your DOGE trading in the demo account before risking any money.

Like all deposit methods on eToro, there is no deposit fee for using PayPal, though there is a $5 withdrawal fee. The trading fees when buying and selling DOGE are 1% plus spread, but PayPal isn’t available in every country for eToro users. Read our full eToro review.

2. Buy Dogecoin With PayPal on Binance

Binance is a great place to buy Dogecoin for traders who want access to advanced tools and a wide range of other cryptocurrencies. If you want to use PayPal as a payment method, you’ll need to use the Binance P2P platform, which we’ll talk you through below.

How to Buy Dogecoin With PayPal on Binance

1. Create a free account

At the top of the website, click on the “Register” button and either use Apple/Google to sign up or click “Sign up with phone or email”. After the latter, you will need to provide a phone number or email address, as well as select your country and create a password. Then enter the verification code you receive by text or email.

2. Verify your identity

Click on Identification under your user icon in the top right corner, click “Verify”, and select your country. Provide some personal information, choose your ID type, and upload an image of it. Give Binance access to your webcam so it can use facial recognition to verify your identity.

3. Add PayPal as a P2P payment method

Select the Payment tab on the left of your dashboard and click “Add a payment method”. You can find PayPal under “More”, after which you will need to enter your account details and provide your verification code.

4. Buy Dogecoin on Binance P2P

Under the Buy Crypto dropdown menu, select P2P Trading. Use the filters to select “Buy”, “DOGE”, your local currency, and PayPal as the payment method. Choose the seller you want to buy from, click “Buy DOGE” next to your choice, and complete your PayPal payment by following the on-screen instructions.

Why Use Binance?

Binance is a great place to purchase Dogecoin for experienced users as the advanced tools, charts, and indicators are useful for technical analysis. It’s also a good platform if you want to buy coins other than DOGE as Binance supports over 600 cryptocurrencies, including many new and obscure ones.

There are no fees when using Binance P2P to buy Dogecoin with PayPal—you simply choose an ad offering an exchange rate you are happy with. However, as the seller sets the exchange rate, it could still end up being more expensive than buying on an exchange.

If you want to make the process simpler, you can switch to the Express tab where a seller will be chosen for you. When you initiate a purchase, your funds and the DOGE will be held in escrow for security. You should be vigilant for scams and not release your funds from escrow until you receive your Dogecoin.

There are a number of ways you can earn interest on your Dogecoin once you’ve purchased it. These include Binance’s liquid swap and savings account, which offers an estimated 1% APY. Read our full Binance review.

3. Buy Dogecoin With PayPal on Coinbase

Coinbase is a great place to buy Dogecoin with PayPal if you’re new to crypto, as its clear layout and intuitive interface make it perfect for beginners.

How to Buy Dogecoin With PayPal on Coinbase

1. Create a free account

Go to the registration page by clicking the “Get started” button on the website. You will then be asked for your name, email address, and password. After that, you will need to verify your email address by clicking the link emailed to you and provide and verify your phone number.

2. Verify your identity

Fill in some personal information such as your name, date of birth, and address. You will also need to answer some questions about your job and investing. Go to Account limits, in Settings, and click “Verify photo ID”. Then you can select your ID type and upload an image of it.

3. Link your PayPal account

Click on Payment methods, in Settings, and select “Add a payment method”. Choose PayPal from the options and log into your PayPal account. US customers will now be able to use PayPal to make deposits.

4. Buy Dogecoin

Hit the “Buy / Sell” button at the top of the page and choose Dogecoin. Make sure to select PayPal as the payment method if you’re not using pre-deposited funds. Fill in the amount you want to buy, click “Preview Buy”, and then press “Buy Now”.

Why Use Coinbase?

Coinbase is a great place to start your crypto journey — you don’t need to make a big commitment financially as you can purchase as little as £2 or $2 worth of Dogecoin. The buying process is also very simple and clear to follow.

You can keep abreast of Dogecoin’s market performance by adding it to your watchlist, and you can also switch to Coinbase Pro to access customisable charts and more advanced trading tools.

UK and European users can only use PayPal to cash out, but if you live in the US, you can make deposits and direct DOGE purchases with PayPal. There is a 2.5% fee for PayPal deposits and a 3.99% fee for direct purchases.

Coinbase users have the option to set up regular automatic Dogecoin purchases with the recurring buys feature, and the trading fees on the platform are fairly competitive at 0.6% plus spread. Read our full Coinbase review.

4. Buy Dogecoin With PayPal on Skilling

If you want to trade Dogecoin contracts for difference (CFDs), then Skilling is a great platform where you can do just that and pay with PayPal.

How to Buy Dogecoin With PayPal on Skilling

1. Create a free account

Click the “Sign up” button in the top right of the home page and provide an email address and password. Select your country from the dropdown list and click “Sign up”.

2. Verify your identity

After creating an account, you’ll need to verify your identity to be able to add a deposit method. Skilling’s verification process is quite detailed so you’ll need a phone number, government-issued ID, tax ID, employment information, and proof of address documents like a utility bill or a bank statement. You’ll also need to answer some questions about your trading experience.

3. Make a deposit with PayPal

Click deposit on the left pane in your account settings and scroll along the payment options at the top until you find PayPal. You can deposit funds using PayPal or buy Dogecoin directly. 

4. Open a Dogecoin trade

To open a Dogecoin trade, search for Dogecoin under Crypto in the search tab. Enter the amount you want and click Buy.

Why Use Skilling?

Trading Dogecoin CFDs on Skilling is a convenient way to potentially profit from changes in DOGE’s price without owning the underlying asset. This means that you don’t need to worry about storing Dogecoin or the risk of it being stolen.

There are different trading platforms to suit different types of users. Experienced traders can access technical indicators and algorithmic trading on the cTrader platform, while those who are new to DOGE trading will find the Skilling Trader platform user-friendly and intuitive.

You can trade DOGE with leverage of up to 30:1, and create a diversified portfolio as Skilling also provides access to shares, indices, commodities, and forex. The platform is secure and regulated, and you can contact customer support via email, phone, or live chat.

Skilling’s crypto CFDs aren’t available to UK users, but PayPal deposits are free and instant, with a minimum deposit of $100. Read our full Skilling review.

76% of retail investor accounts lose money when trading CFDs with this provider.

Why Should I Buy Dogecoin With PayPal?

There are several reasons why you might want to buy Dogecoin with PayPal. Some of the most important are discussed below.

Security

PayPal is well established as a secure payment method. It protects users from fraud by monitoring transactions to detect suspicious activity. PayPal also provides buyer protection for your purchases.

The crypto platform you use won’t receive your bank or card details when your payment is processed as PayPal secures your data with end-to-end encryption. You can also enable two-factor authentication by setting up a PayPal security key.

Convenience

Once you have a PayPal account set up with a linked funding source, you can just enter your PayPal password when you buy Dogecoin. This makes PayPal a convenient payment method as there’s no need to fill in the account information or card details when you pay.

Speed

PayPal is one of the fastest payment methods. It only takes a few seconds to send money, so you can receive your Dogecoin almost instantly without having to wait for funds to clear. If you sell your DOGE, you can also use PayPal to withdraw funds, and you will find it faster than other withdrawal methods.

Purchasing Dogecoin on a Crypto Exchange vs P2P vs Broker

When prchasing Dogecoin with PayPal, you have a choice of the type of platform to do it on. We’re going to discuss the pros and cons of each below.

Crypto Exchange

This is the easiest and most convenient way to buy Dogecoin with PayPal for most users. Many exchanges have low fees for trading and a low minimum deposit, making them affordable to use.

A lot of exchanges are regulated by recognised authorities and employ strong security such as cold storage, encryption, two-factor authentication, and insurance. This provides users with better protection than unregulated platforms.

Crypto exchanges tend to stand out from other platforms when it comes to user experience and features. Trades take place very quickly and are often easy to execute. There are usually tools available such as charts and indicators, as well as services such as savings accounts and derivatives trading.

eToro is one such platform that excels in all these areas. It has competitive fees for trading of 1% plus spread, a minimum deposit of $10, strong regulation and security, easy navigation, and unique features like copy trading.

P2P

P2P platforms are popular with Dogecoin buyers who don’t want to go through KYC. The benefit of P2P trading is that there are no fees added on, but it can still work out to be more expensive than an exchange as the seller sets the price.

As P2P platforms are unregulated, users don’t have any recourse if they fall victim to a scam. Escrow should provide some security when purchasing Dogecoin, but buyers should be wary of other users and not be persuaded to release their funds from escrow before receiving their DOGE.

The user experience is less seamless on P2P platforms as users must choose a seller themselves and go through a slightly longer and more complicated buying process than the couple of clicks required on an exchange.

P2P platforms are also lacking in features. Users don’t tend to have access to charts and indicators, or other services such as wallet custody or savings accounts. If, however, the P2P platform is part of an exchange, like Binance P2P, you can still access all the tools and features on the rest of the platform.

Crypto Broker

Crypto brokers provide a convenient way of gaining exposure to DOGE price by trading Dogecoin CFDs. They typically charge a spread and often a commission on trades as well. The minimum deposits for brokers may be higher than for exchanges.

Like exchanges, the best crypto brokers are fully licensed by regulatory authorities to protect users from things like market manipulation. They also tend to provide better security than unregulated platforms and are more likely to be insured.

Broker platforms are often feature-rich, with customisable charts and plenty of tools to help traders conduct technical analysis. Less experienced users may, however, find some brokers more complicated to use, and trading CFDs should only be undertaken by people who know what they’re doing due to the high risk of losing money.

Buying Dogecoin Anonymously Using PayPal

If you receive payments to your PayPal account, it is possible to use your PayPal balance to pay for purchases without going through identity verification on PayPal or connecting a bank account or credit/debit card.

You will, however, have difficulty buying Dogecoin anonymously. Some P2P platforms like Paxful let you buy from certain vendors without completing verification, so you could buy anonymously if you use a separate email address, but Paxful doesn’t offer Dogecoin.

Binance requires users to complete the KYC process in order to access any of its services, including Binance P2P. The only way to buy DOGE anonymously with PayPal would therefore be to seek out a seller yourself who is willing to accept payment via PayPal.

This is risky, however, and leaves you vulnerable to scams. It is therefore much safer to spend a few minutes verifying your identity to use a secure platform.

Global Regulations for Buying Dogecoin With PayPal

Most platforms have a Know Your Customer (KYC) process that users must go through in order to access all the platform’s services.

The process typically involves uploading an image of a photo ID, like a driver’s licence or passport, and the platform might use facial recognition to confirm your identity through your webcam or mobile camera. You might also be asked to upload something like a utility bill or bank statement to prove your address.

Compliance with Anti-Money Laundering laws and the requirements of regulatory bodies means that all the platforms on this page require users to complete KYC, regardless of the payment method used. PayPal is also bound by these laws as it is a provider of financial services.

United Kingdom

Cryptocurrencies like Dogecoin aren’t regulated in the UK, so although it is perfectly legal to buy them, DOGE investors won’t have access to the Financial Services Compensation Scheme or the Financial Ombudsman Service.

UK users can purchase Dogecoin from many exchanges but PayPal is less commonly accepted as a payment method on exchanges in the UK, compared with other countries. UK users can buy Dogecoin with PayPal on P2P platforms.

UK customers will need to verify their identity to access crypto exchanges and brokers. This is because financial services providers in the UK must comply with the Money Laundering Regulations 2017 and the oversight of the European Joint Money Laundering Steering Group.

USA

If the SEC decides to categorise Dogecoin as a security, any crypto platform that offers it in the US may have to register as a broker-dealer and make their order books audit-compliant. The aim of this would be to give crypto investors the same protections as traditional investors and prevent market manipulation.

As things stand, crypto platforms in the US must register with FinCEN and comply with AML/CFT laws. Verified customers can legally purchase Dogecoin in the US and PayPal is more widely accepted as a payment method.

States can also choose to pass their own laws on cryptocurrencies. Wyoming and Colorado are some of the states that have passed laws that are favourable to crypto, while Hawaii and Maryland have issued warnings to crypto investors.

What Limitations Exist for PayPal While Buying Dogecoin?

There is a limited choice of platforms available if you want to use PayPal to buy Dogecoin. Depending on your region and currency, the options may be even more limited. UK users, for example, can’t make PayPal deposits on eToro or Coinbase.

You can send payments of up to $60,000 with a verified PayPal account, but you may be limited to $10,000 for a single transaction.

The smallest amount of Dogecoin you can purchase is on Skilling, where the minimum is 1 DOGE. The next best is Coinbase with a lower limit of $2. The minimum amount of Dogecoin you can buy on eToro is $10, as is the minimum deposit. On Skilling, the minimum PayPal deposit is $100.

On eToro, $10,000 is the upper limit for PayPal deposits and Dogecoin purchases, while on Coinbase, both are $25,000. Skilling has a maximum purchase size of 50,000 DOGE.

On Binance P2P, each individual seller decides the maximum and minimum amount of Dogecoin that you can purchase.

What Fees Are Associated With PayPal?

Unless currency conversion is required, you won’t be charged any fees by PayPal when using it to make a purchase.

Using PayPal to make a deposit or buy Dogecoin, however, may incur a fee from your platform. The table below summarises the fees for the platforms on this page.

When buying Dogecoin on a broker or exchange, you may be charged a transaction fee as well. On eToro, it is 1% plus spread, while Coinbase charges 0.6% plus spread, and Skilling trading fees start from 0.1% plus spread.

There are no fees for buying Dogecoin on Binance P2P, but each seller will set the exchange rate, so it could still work out as more expensive than buying DOGE on an exchange or broker with fees.

Is Buying Dogecoin With PayPal the Best Method?

Which is the best way to buy Dogecoin will depend on your region and personal preferences. For example, you can often make deposits for free via bank transfer, but it may take longer to process if your platform doesn’t support Faster Payments.

Meanwhile, credit cards enable you to pay later or pay off large purchases in instalments, making them a convenient choice for many. If you want convenience without the interest payments, you may prefer to use a debit card.

PayPal can be a cheap way of buying DOGE if you use a platform that doesn’t charge for deposits, like eToro. However, you may find the fees on other platforms are higher than for other payment methods. The speed of PayPal makes it a very convenient way of making deposits and purchases, as long as it is an accepted payment method in your country.

Further Tips for Buying Dogecoin With PayPal

Getting the best price

If finding the best deal is a key concern of yours, there are a few different things you will need to consider. Firstly, you will likely find that the price of DOGE varies slightly from one platform to another. This is because the price is set by buying and selling action on exchanges, while broker prices include spread, and P2P sellers may add a markup.

The amount you actually end up paying, however, may include fees. These could be trading fees, commission, and deposit fees, all of which should be taken into consideration before you can tell which platform is the cheapest to use. Other fees that some platforms may choose to charge include withdrawal fees, account management fees, and inactivity fees.

Staying safe

Security should be one of your top priorities when purchasing Dogecoin if you want to keep your funds and personal information safe. Use a strong and unique password for your PayPal account and enable two-factor authentication to protect your account.

You should also make sure to select a platform with strong security. Regulated platforms are the safest, and security features to look for include offline storage, encryption, two-factor authentication, and insurance.

Storing your Dogecoin

Once you have purchased some DOGE, your next concern will be where to store it. This won’t be a concern if you bought a Dogecoin CFD as you won’t actually own the underlying asset. Otherwise, for small amounts and regular traders, the most convenient option is to store it in the free wallet provided by the platform you used to buy DOGE. Alternatively, you can source the official Dogecoin wallet, for free, from the official website.

If you want the best possible security, though, you will need to spend some money on a hardware wallet that will store your DOGE offline. This is worth doing if you’re going to be holding a large amount of Dogecoin for the long term.

Conclusion

There aren’t very many places where you can buy Dogecoin with PayPal, but the few such platforms available are described on this page. In our opinion, eToro is the best option . This is because you can make PayPal deposits for free on eToro, access a range of resources to help you research and analyse Dogecoin, and trade DOGE at competitive fees. You can also use the unique CopyTrader feature to copy the world’s best Dogecoin traders.