Will Shiba Inu (SHIB) reach $1? The truth is, no one can tell with certainty whether it will reach $1 or not. Someone may argue that at Shiba Inu’s current token supply, this is an impossibility. Another may argue that Shiba Inu’s price history defies all logic and that $1 per SHIB token is possible between now and 2025.

We believe SHIB Inu can reach $1, but the earliest this can be achieved is in 2030 or thereabout.

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Anything earlier than that is possible but is a bit of a stretch. The reason for a 2030 prediction is to allow for the overall crypto market cap to accommodate such a market cap logically.

If Shiba Inu were to trade at $1 today, that would give it a market capitalization of $549.55 billion. That is slightly larger than the market cap of Ethereum today. Essentially, it would mean that the majority of the investable capital getting into crypto would be going to Shiba Inu, and that’s pretty unrealistic.

Alternatively, it would mean that the overall cryptocurrency market would have to expand exponentially within a very short time. For context, it would necessitate a situation where Bitcoin has a market capitalization in the 10s, if not 100s, of trillions of dollars. It would also mean that Ethereum would also be trading in the trillions of dollars in market capitalization.

For such a situation to become true, there would be an above-average devaluation of fiat currencies and massive adoption of cryptocurrencies in a very short time. So far, nothing of the sort seems to be happening. If anything, governments are taking measures to curb the risk of inflation.

After the stimulus packages of 2020, Central Banks are taking measures to help slow down the risk of hyperinflation. They include but are not limited to raising interest rates, and going slow on bond-buying, as is the case in the EU.

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In terms of adoption, the use of cryptocurrencies is on the rise globally. However, cryptocurrencies still constitute a very small portion of everyday transactions. In fact, they constitute less than 10% of transactions. In a world where many educated people still have no idea how cryptocurrencies work, it is unlikely that mass adoption will happen in a very few years, say between now and 2025.

However, going into the 2030s and beyond, there is a pretty good chance that Shiba Inu could hit $1. For starters, by 2030, the crypto market will have expanded quite significantly to a point where it can accommodate an extremely high market cap for altcoins like Shiba Inu.

For context, there is a good chance that by 2030, Bitcoin could be trading at $1 million. Since it is the primary driver to the crypto market, if Bitcoin hits such a price, the rest of the market would move to reflect the same. While $1 million per BTC may seem high, consider the fact that its block rewards are shrinking over time. For instance, in the upcoming block halving of 2024, Bitcoin block rewards will shrink to just 3.125 BTC. With the growing institutional interest in BTC, this shrinking supply could put significant upside pressure on BTC and the entire market.

Besides that, Shiba Inu fundamentals will be much better than they are now going into the 2030s. This is evident in the kind of progress that Shiba Inu has made in the 1.4 years it has existed.

Shiba Inu started as an average meme coin with nothing to offer but ride on Dogecoin’s coat. However, since then, it has proven itself to be worthwhile crypto. The supply has shrunk considerably, it has a DEX, and adoption is happening. Since these factors will only get better with time, it is safe to predict SHIB at $1 by 2030.

That said, not many people can hold on to a cryptocurrency that long. Considering how volatile the market is, you need diamond hands to hold a meme coin and ride the waves for 10-years. So, in the short term, is Shiba Inu a good investment for 5-years?

2021 is pretty much over, so a 5-year plan means holding SHIB until 2026. For all the good things that are happening to Shiba Inu, it is a good investment for the next 5-years.

For starters, the total supply of Shiba Inu is set to shrink significantly within the next 5-years. Thanks to Shiba Inu’s deflationary nature, and Vitalik Buterin’s burn, Shiba Inu token supply is now less than 50% of what it was at launch.

As more people transact in SHIB and more tokens are burned, the supply will drop even further. Going by simple demand and supply economics, this shrinking supply will help drive up the value of SHIB in the next 5-years.

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Then there is the aspect of adoption. While it started as a worthless token with no use case, Shiba Inu has already been used for everyday transactions. A few months ago, Shiba Inu was added to Shopping.io and is now one of the cryptocurrencies that can be used for making payments on major e-commerce sites like Amazon. More recently, a French restaurant started accepting Shiba Inu for payments.

As its price goes up and more people become aware of SHIB, there is a good chance that major corporations will start accepting it for payments. Dogecoin sets a positive precedent on this front.

Before the pump that started in 2020, Dogecoin was a joke coin. Today, it is accepted by more than 15 major corporations and many small companies. Shiba Inu has a good chance of following a similar pattern, and that’s good for its intrinsic value.

Simply put, you are unlikely to go wrong with Shiba Inu regardless of whether you are investing with the next 5-years or 10-years in mind. With the exponential rate at which the cryptocurrency market is growing, Shiba Inu will reach $1 at some point and give investors exponential returns in the next 5-years.

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Ecommerce sales hit $4.9 trillion in 2021 and are expected to exceed $6.1 trillion in 2023, accounting for almost a quarter of retail sales. Around 50 percent of online purchases are made using a digital wallet. Clearly, to say that digital wallets are significant in today’s economy is a huge understatement.

Apps like Apple Pay and Google Pay are exploding in popularity with millennials and Gen-Z. Meanwhile, older demographics tend to remain faithful to the digital wallet that started it all – PayPal might be old, but 429 million registered users say they are doing something right!

However, that is not the end of the story. Cash App has enjoyed a surge in users over the past couple of years after spending so long as an “also ran.” Let’s find out what’s behind its sudden popularity.

Cash App’s reinvention

Cash App has been around longer than most of us realize. It came out in 2014, and enjoyed a spike of early popularity under its original name of Square Cash, as a great tool for peer-to-peer transactions. However, after the hype died down so did the users. In 2018, the app was rebranded as Cash App, but the change was more than skin deep.

As well as rebranding, Square launched Cash App in the UK market and added new functionality for Bitcoin trading. It also invested millions in an advertising campaign with Houston-born rapper Travis Scott at its heart. This combination of factors has helped Cash App to achieve an increase in profits of 212 percent from 2019 to 2020.

The gambler’s choice 

The marketing campaign certainly reminded the vitally important Gen-X demographic that there are digital wallet alternatives beyond Apple and Google. However, the new crypto functionality undoubtably contributed to Cash App’s escalating fortunes, too.

Cash app is welcomed in dozens of casinos. Due to the regulatory situation in so many states, using Bitcoin to bankroll casino gaming and then having an online casino cash app payout in the event of a big win makes a lot of sense. Bitcoin gambling is commonplace as a way to enjoy playing a casino game without involving banks that could face problems under the Unlawful Internet Gambling Enforcement Act. Cash App is a useful app for those who want to use Bitcoin but are not entirely sure how, a description that fits an increasing number of US online casino gamers at present.

The viable alternative to PayPal

The other significant factor in Cash App’s growth is that it is an established name that provides a viable alternative to the world’s most popular digital wallet. PayPal user numbers have dropped slightly in recent months and there has been plenty of murmuring online as to why.

For years, PayPal’s fraud prevention measures have been considered a benchmark. But for some users, it is possible to have too much of a good thing. There are numerous stories of customers being locked out of their own accounts and being forced to wait for days to get back in. Cash App seems to have the same strong record on fraud prevention but without the inconvenience and drama.

Looking for an entry point into the exciting world of dogecoin (DOGE) trading? We’ll help you through it.

Dogecoin trading is pretty straightforward once you get the hang of it.

This guide on how to Trade Dogecoin will break everything down in Layman’s terms so that you do not trade blindly. But, if you don’t quite have the time to read it all of the way through, this is what you need to do to trade Dogecoin now.

The popular cryptocurrency, Dogecoin, enjoyed an eventful period in the first months of 2021. Until October 2021, the meme digital asset had managed gains of over 13,350%.

As such, the digital currency is now firmly ranked as a top 12 crypto – in terms of market capitalization. If you want to take advantage of these price fluctuations, it might be the right time to learn how to trade Dogecoin.

You can trade the DOGE coin against fiat currencies such as the USD, as well as other crypto-assets like Bitcoin.

In our extensive How to Trade Dogecoin (DOGE) Guide  – we have put together everything you need to know about this digital asset.

We will start with the trading fundamentals, the different orders to use, risk management, and how you can find a broker to trade Dogecoin assets online.

Trading Dogecoin currency is no easy feat – which is why we have put together an in-depth guide on How to Trade Dogecoin today. Within it, we explain the ins and outs of how this investment scene works, what risks and rewards you need to consider, and how you can start trading it today.

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How To Trade Dogecoin (DOGE) – Quick Guide

• Step 1: Open an account with a regulated crypto broker. You can trade Dogecoin by opening an account with a credible broker like eToro.
• Step 2: Funds your account with a debit/credit card, e-wallet, or bank transfer.
• Step 3: Choose how many Dogecoins you want to trade.
• Step 4: Buy DOGE (go long) or sell DOGE (go short).
• Step 5: Confirm your trade.

That’s it! By following these easy steps, you can trade Dogecoin in less than 5 minutes.

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What Is Dogecoin (DOGE) Trading?

Dogecoin (DOGE) is a digital asset that enables you to send and receive funds with ease.

The digital currency was launched as a joke in 2013, satirizing the frenzy around cryptocurrencies at the time. As such, there are no unique features or characteristics that set this coin apart.

However, Dogecoin has since improved its image to become a friendlier alternative to Bitcoin. Thanks to social media mentions by famous supporters such as Elon Musk, the coin’s value has been experiencing a steep surge in recent months.

Today, it is deemed as a stepping stone to the crypto world.

As with the other cryptocurrencies, the value of Dogecoin fluctuates throughout the day – sometimes, even by the second. When trading Dogecoin, your aim is to speculate on the price of DOGE coins in the future.

If Dogecoin is in high demand, then the price of the digital currency will rise. If more and more traders are trying to cash out their Dogecoin holdings, the price of the coin will fall. Being able to predict these price fluctuations is how you make a profit when trading Dogecoin online.

Here is a practical example to clear the mist:

• Let’s say Dogecoin is valued at $0.17.
• You will find this denoted as DOGE/USD at cryptocurrency platforms.
• Believing that Dogecoin is undervalued, you place a $1,000 buy order.
• A couple of months pass and the digital asset is valued at $0.34.
• This translates to a 100% increase in value.
• You place a sell order to exit the trade at a profit.

In this example, we saw the price of Dogecoin increase from $0.17 to $0.34in a matter of two months. This leaves you with a profit of $1,000 on your $1,000 stake.

Put simply – if you speculate correctly, Dogecoin (DOGE) trading comes with high-profit potential. On the other hand, if your speculation is wrong, then it is a different story altogether – leading to a loss on the trade.

Consequently, before you begin to trade Dogecoin online, it is paramount that you are educated about the ins and outs of this specific market.

How Does Dogecoin Trading Work?

If you are already familiar with trading conventional assets such as stocks and commodities, you will have no trouble learning the ropes of Dogecoin trading.

However, the notable difference is that unlike traditional tradable assets, digital currencies have around been only for a decade or so. As such, the factors that determine their price shifts are also slightly different.

For instance, along with supply and demand, you will also have to consider blockchain development and regulations imposed on various markets.

With this in mind, this section of our How to Trade Dogecoin Guide will go through some of the trading fundamentals to clear the mist.

Dogecoin Trading Price Movements

In order to trade Dogecoin successfully, you need to have a firm grasp on what drives the price of the digital asset.

These days, you can find Dogecoin listed on most cryptocurrency platforms. If more traders are going long on the asset, then this will be reflected with an overall increase in the price of the coin.

On the contrary, if the general feeling towards the digital currency is to go short, then the value of the coin will also go down.

As you might notice, the price of Dogecoin might vary slightly at different cryptocurrency platforms. One broker might quote you $0.171, whilst at another, the coin might be priced at $0.172.

However, this difference is nothing to be worried about and will not affect your ability to place profitable trades in any way.

Dogecoin Trading Pairs

As we covered in the introduction, Dogecoin trading is facilitated through crypto pairs. You can trade the digital asset against both fiat currencies as well as other cryptocurrencies.

Let us start with ‘crypto-fiat’ pairs – a term that you will come across quite a lot in the Dogecoin trading space.

• For instance, when you see a DOGE/USD pair, it means that Dogecoin is traded against the US dollar.
• In this case, DOGE is the ‘crypto’ and USD is the ‘fiat’.

The US dollar, being the benchmark fiat currency, is most widely used when trading cryptocurrencies.

That said, some online brokers will also give you access to other crypto-fiat trading pairs such as DOGE/GBP (British pound), DOGE/EUR (euro), DOGE/CAD (Canadian dollar), and even DOGE/JPY (Japanese yen).

Trading Dogecoin against fiat currencies also invites the advantages of high liquidity and tight spreads. Moreover, it is easier for traders to quantify profits and losses as well as speculate on the exchange rate.

For this reason, crypto-fiat currencies are considered a more suitable option for novice traders.

The other option is to trade Dogecoin against other cryptocurrencies such as Ethererum or Bitcoin. However, this requires having a solid knowledge of both the competing coins and their respective markets. As you can guess, this might be complicated for new traders.

To summarize – whether you choose to trade Dogecoin against a fiat currency or other cryptocurrencies, you have to arm yourself with the specifics of the assets in question.

Long or Short-Term Trading

Before you start speculating on Dogecoin, you should first consider which financial instrument is most suited for your trading goals. You have two options in front of you – to invest in cryptocurrency in the long-term or trade the asset in the short-term.

For instance, if you feel certain that Dogecoin has a promising future ahead, then you can consider investing in digital coin in the long run. In this case, you will be buying the coin in the traditional sense and storing them in a crypto-wallet.

This way, you can hold on to Dogecoin for months or years – until you think it’s the right time to cash out and collect your profits. In the cryptocurrency world, this strategy is popularly known as ‘HODLing’.

On the other hand, short-term strategies demand a strong understanding of technical analysis to support your decision-making process. For new traders in particular, this will be a challenging undertaking.

Learning to read charts and other technical indicators will require a considerable amount of time. Therefore, if you are a newbie – then a ‘buy and hold strategy’ will be an easier approach.

This way,  you do not have to worry about the short-term volatility of the Dogecoin market.

That said, if you rather prefer the idea of making modest profits on a regular basis – a short-term strategy will be more to your liking. If this is the case, it is best that you stick to liquid pairs such as DOGE/USD or DOGE/BTC.

Trade and Own Dogecoin

As we discussed in the previous section, if you want to trade Dogecoin in the long term – you can adopt a ‘buy and hold strategy’. When looking to buy this digital asset, it is best to purchase coins directly through an online broker rather than a cryptocurrency exchange.

You can find a plethora of online brokers offering Dogecoin on their platforms. But it is always best to choose a regulated broker to work with – which we will discuss in more detail in the later sections of our guide.

Long-term investment can be well-suited for both beginners and seasoned traders – as it eliminates the need to concern yourself with the short-term price fluctuations of the coin.

Dogecoin Trading

For those who prefer to trade Dogecoin in the short-term using ‘swing trading’ or ‘day trading’ strategies – you will want to find an online broker who offers Dogecoin CFDs (Contracts for Differences).

Here is an overview of what CFDs are all about:

• CFDs are financial instruments that track the value of the underlying asset – in this case, Dogecoin.
• Trading with CFDs comes with the perks of low fees and leverage.
• CFDs allow you to speculate on both the rising and falling prices of Dogecoin – by going long or short on the digital asset.

Before we continue, it is important to note that CFD instruments are prohibited in the US – because of the added risk involved. In the UK, you will have no trouble accessing CFDs on conventional assets, but cryptocurrency CFDs are not legal anymore.

However, if you want to access leveraged Dogecoin markets from a country where they are illegal, you can do so through a third-party cryptocurrency exchange. However, there is a strong likelihood that these are unregulated spaces.

In addition, you will not have the convenience of funding your trading account using fiat currencies such as USD or euros. As such, you will be trading DOGE/USDT instead of DOGE/USD.

For those who are unaware – USDT is a digital currency named Tether, with its value equivalent to that of one US dollar.

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How To Trade Dogecoin Online – Setting Up A Trade

When learning how to trade Dogecoin, it is essential that you are familiar with the different types of trading orders. In simple terms, these orders are utilized to convey to your broker what position you are taking on the asset.

Here we have a list of the most commonly used orders when trading Dogecoin.

Buy or Sell Order

Regardless of which asset you are trading, it is mandatory that you use a buy order or a sell order.

In summary:

• If you expect the price of Dogecoin to rise – you will create a buy order.
• If you expect the price of Dogecoin to fall – you will create a sell order.

Every Dogecoin trade you place will need both buy and sell orders.

For instance, if you open a Dogecoin trade using a buy order – you will exit it using a sell order. On the contrary, if you open your position with a sell order – you will need a buy order to exit it.

Entry Price

Buy and sell orders are only the most basic of trading orders. To be a successful trader, you also need to have an entry strategy in place.

When placing a trade on Dogecoin, you will have to specify to your broker how you want to enter the market. You have the option to choose between a market order and a limit order.

Let us give you an explanation of each:

1. Market order:

A market order will indicate to your broker that they should execute at the next best price.

For instance, let’s say that Dogecoin is currently priced at $0.050. You want to secure this price immediately – so you place a market order. Your broker carries out the trade instantly.

However, you might see a minuscule difference in the price the order is actually executed at – due to the price fluctuation.

2. Limit Order:

These orders are used when you want to enter the market at a certain price. Let’s say that Dogecoin is valued at $0.050.

You want to wait until Dogecoin rises to $0.055. So you create a $0.055 limit order with your broker. The order remains pending until the price is realized or you cancel the order.

As you can see, limit orders allow you to maintain more control over your positions – and is preferred by traders of all levels.

Exit Strategy

Along with entry strategies, you should also consider how you are planning to exit the trade. This is where you utilize ‘take-profit’ and ‘stop-loss’ orders.

• A take-profit order allows you to close your trades at a specific profit level. For instance. If you have a profit target of 3% on your Dogecoin trade – you will set a take-profit order at 3% above or below your entry price. When the price of Dogecoin meets your predetermined price level, your broker will automatically close the trade.
• Stop-loss orders are utilized to limit your losses on trades. Let’s say you do not want to risk losing more than 1% on your Dogecoin trade. You will place a stop-loss order at 1% above or below your entry price.

Once the price of Dogecoin hits your specific stop-loss price level, your trade will automatically be closed.

Allow us to give you another example to demonstrate this concept:

• Let’s suppose that you want to enter a DOGE/USD trade at an entry price of $0.200.
• You believe that the price of Dogecoin will rise soon – so you place a buy order.
• If your Dogecoin position makes a profit of 2% – you want to close the trade.
• So you place a take-profit order at $0.204.
• At the same time, you want to stop your losses at 1%.
• Hence, you create a stop-loss order at $0.1998.

This trade can go two ways:

• Should the value of DOGE/USD rise to $0.204, your broker will execute the take-profit Your profit will be 2%, and your trade will be closed.
• Should the price of DOGE/USD fall to $0.1998 – your broker will execute the stop-loss Your loss will be limited to 1%, and the trade will be closed.

As you can see, you can place the take-profit and stop-loss orders on either side of your entry price. As such, irrespective of the direction the market moves, your broker will automatically close the trade at the prices predetermined by you.

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How To Make Money Trading Dogecoin

Using trading orders can allow you to automate the trading process to an extent. However, these strategies alone are not adequate to ensure that Dogecoin trades will be profitable.

In this section, we will look into the other considerations that play a crucial role in the profit potential of Dogecoin crypto-asset.

How Can You Make Money Trading Dogecoin (DOGE)?

1. Stake

Once you are thorough with the trading fundamentals of Dogecoin, you will need to know how much you want to stake on the digital coin.

In the trading industry, the stake is the amount you are willing to risk on a tradable asset. The more your stake – the higher your returns, but so are the losses.

Let us give you an example.

• For instance, if you stake $500 on Dogecoin and make a profit of 5% – you gain an amount of $25.
• In case you increase your stake to $1,000 – your profits from the same trade will amount to $50.

However, staking is not as simple and straightforward – especially when you can get emotionally carried away with your trading decisions.

Therefore, it is common for traders to use a bankroll management strategy to mitigate the risks.

Simply stated, you consider how much you can afford to lose on each Dogecoin trade. Many traders choose to stake a maximum of only 2% of their trading funds at a time.

• For instance, if you have a balance of $5,000 in your account – you will not stake more than $100 on a single Dogecoin trade.
• If you have $10,000 – the maximum amount you stake will be $2,000, and so on.

Not to worry, there are plenty of brokers out there who allow you to trade Dogecoin for smaller stakes.

2. Dogecoin Trading Leverage

Before explaining how leverage works, we should once again mention that CFDs are not permitted for US residents.

If trading Dogecoin CFDs is legal in your country, you can boost your gains by applying leverage. Note that if you speculate incorrectly on the future value of DOGE, leveraging can also amplify your losses.

Here is an example of how leverage works:

• Let’s say you want to place a buy order worth $1,000 on DOGE/USD.
• You apply leverage of 1:5
• In a few hours, the value of DOGE increases by 5%.
• Without leverage – your profit on this trade will be $50
• With leverage of 1:5, your earnings will now be magnified to $250.

As is evident, leverage can boost your profits on your Dogecoin trades significantly.

For this reason, you will come across online brokers who offer leverages as high as 1:100 – sometimes more.

But take note that such platforms are most likely to be unregulated. If you trade through such dangerous spaces, you will be entrusting your capital with a broker who is not committed to the safety of your funds.

Fees to Trade Dogecoin Online

Whether you choose to trade Dogecoin in the long-term or short-term, you will need to pay fees of some description. The specific commissions and other rates chargeable will vary from one online broker to another.

Before you commit to an online broker, you should be aware of the potential fees involved in the trading process.

Here is a list of the main Dogecoin fees you are likely to encounter on trading platforms.

Dogecoin Trading Commission

Most brokers charge you a trading commission every time you place a buy or sell order with them. This is usually denoted in percentage terms against the size of your stake.

• For instance, a number of cryptocurrency exchanges charge 1.49% to trade Dogecoin.
• This means that if you place a $1,000 stake on Dogecoin, you will have to pay a commission of $14.90.
• Then, when you close the trade, the broker would charge you 1.49% again.

As you can see, you will have to pay the commission once when you enter the market and then again when you exit it.

That said, you will also come across online brokers who allow you to trade Dogecoin on zero commissions. In this case, you will only have to consider the spreads – which we will discuss next.

Dogecoin Spread

The spread is often regarded as an indirect fee charged by the online brokerage platform. It is the gap between the bid price and the ask price of the digital asset.

If there is a wider gap between the two prices, you will pay more in terms of the spread to your crypto-broker. Therefore, you want to look for tighter spreads so that you can keep more of your potential profits for yourself.

To provide you with an example – if your broker charges you 1.9% via the spread, you are starting the trade at a loss of 1.9%.

Meaning, you will have to make 1.9% in profits just to break even on the trade. Anything over this 1.9% will only be counted as a profit.

Other Dogecoin Trading Fees

Along with the aforementioned charges, you are also likely to come across a few other fee types when trading Dogecoin online.

This includes:

• Deposits / Withdrawals: On some platforms, you will also have to pay transaction fees to process your deposits and withdrawals. For instance, at Binance, there is a 2% fee charged for every credit/debit card payment. While at Coinbase, the deposit fees are even higher at 3.99%.
• Inactivity Fee: This is another type of fee common at crypto brokers. The fee is usually charged if you do not meet the minimum trading activity on your account – often for a duration of 12 months. The fee will be directly taken from your balance every month until you withdraw the funds or begin trading again.
• Overnight Fee: If you are able to access CFDs where you live legally, you will also be liable to pay an overnight funding fee. The fee is charged for every position that is left open overnight. Some platforms also charge you a higher fee on weekends.

All things considered, we should stress that it is paramount that you check what fees and commissions you are needed to pay to your online Dogecoin broker before signing up on the platform.

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How To Trade Dogecoin (DOGE) Right Now – Step-by-Step Walkthrough

If you have read our How to Trade Dogecoin Guide from start to finish, you now have a thorough understanding on how things work.

If you feel ready to start trading Dogecoin, all that is left is to set up your trading account. Follow the step-by-step walkthrough we have described below, and you will be able to trade Dogecoin in minutes.

Step 1: Choose a Trusted Broker

The first thing on your checklist is to find a suitable trading broker. There are dozens of online platforms competing for your attention, and as such, the process can indeed be overwhelming.

Here are some of the factors that you need to consider when looking for a broker that fits your needs:

• Regulation: Does the Dogecoin broker hold a license from regulatory bodies such as the FCA, CySEC, or ASIC?
• Fees: What will you be liable to pay in terms of commissions, spreads, and other trading fees on the brokerage site?
• Payments: Which payment methods does the site support?
• Minimum Deposits: Is there a minimum deposit and stake required to start trading Dogecoin?
• Dogecoin Pairs: Which Dogecoin trading pairs are offered?
• Trading Platform: Is the trading platform easy to use?
• Mobile App: Is there a mobile application available?

As is evident, there are many aspects that you need to keep an eye out for when choosing your Dogecoin broker. By going through our check-list, you will be able to weed out the platforms that are not worth your time.

Step 2: Open a Trading Account

Once you have identified the broker you want to trade Dogecoin with, you can proceed to open an account with them. All you need to do is provide your basic information – such as your full name, address, email, and contact information.

On regulated brokerage platforms, you will also need to verify your identity. The online broker will need to know who you are as per KYC norms. You can complete this step by providing a photo ID such as your passport.

Step 3: Deposit Funds

One of the advantages of choosing a regulated Dogecoin broker is that you can fund your trading account with fiat currency.

The best online crypto brokers will offer you various payment methods to choose from. These include bank transfers, credit/debit cards, and e-wallets such as PayPal.

Step 4: Choose Dogecoin (DOGE) Trading Market

With your trading account funded, you can choose the specific market you wish to trade.

As we discussed earlier, you can trade Dogecoin against a fiat currency or other cryptocurrencies.

If you already have a specific market in mind, you can simply search for it on the brokerage site.

Step 5: Place Dogecoin Trade

When you have found your chosen market, you need to set up your trading orders. If you need to review again, feel free to check our previous section further up in our How to Trade Dogecoin Guide.

When ready, you can place your first Dogecoin trade. Based on your prediction, you can place a buy or sell order.

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How To Trade Dogecoin Guide – The Verdict

To sum up, learning how to trade Dogecoin (DOGE) can take time. However, given the circumstances, it is a trading domain that is well worth considering.

Dogecoin continues to gain more interest from cryptocurrency enthusiasts around the world – and it will be exciting to see where the digital coin is headed next.

Having said that, it is crucial that you stick with a regulated broker when trading Dogecoin online.

Make sure that you crosscheck the different parameters we have mentioned in our guide, and you will be able to find a top-rated broker that can help you achieve your trading goals.

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FAQ

How safe is it to trade Dogecoin online?

Trading Dogecoin online is safe – given that you use a regulated broker to execute your trades.

Where can I start trading Dogecoin?

Trading Dogecoin online is pretty easy. All you need to do is to find a respected online broker and open an account with them.

Can you get rich by trading Dogecoin (DOGE)?

If you are able to correctly speculate on the short-term price movements of Dogecoin – you will make a profit. On the contrary, if you speculate incorrectly – you will make a loss. As such, it is best to adopt a bankroll management strategy to take calculated risks.

Can you trade Dogecoin legally in the US?

Yes, you can trade Dogecoin in the US. However, you cannot access leveraged crypto CFDs.

Is it possible to trade Dogecoin with leverage?

Yes, you can. That said, depending on where you live, there might be restrictions on trading Dogecoin with leverage. For instance, in the US and the UK, leveraged cryptocurrencies are not permitted – so you will not be able to obtain leverage through a regulated brokerage.

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A Beginner’s Guide to Buying and Selling Dogecoin Cryptocurrency in the USA

Based in the USA and looking to buy Dogecoin? If so, there are several regulated crypto exchanges in the USA to choose from. most of which give you access to the top digital assets including DOGE. But how do you know whether Dogecoin is a good buy, and which Exchange is best for you?

With the recent popularization of meme coins, more and more such digital currencies emerged in the crypto market. However, Dogecoin is the first and most famous cryptocurrency of its kind, although it was not until the beginning of 2021 that Dogecoin became so popular.

Before that, it was traded at below one cent. But with a huge army of followers and support from celebrities helped Dogecoin’s price to increase by over 7000% during the first half of 2021. The recent crash of the crypto market also affected Dogecoin, and it significantly lost its value. That said, Dogecoin is still a hot cryptocurrency, and there is a massive public interest in this digital asset.

So, if you want to know how to buy Dogecoin in the USA and learn more about this funny and exciting cryptocurrency, this guide is for you.

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How to Buy Dogecoin Crypto in the USA – Quick Steps

If you are looking for a quick and easy way to buy Dogecoin today in the US, follow the steps outlined below. We will show you how to buy Dogecoin on eToro, a popular online broker that is regulated by the SEC and has listed over 60 different cryptocurrency assets.

• Step 1: Open an eToro Account
  First visit the eToro website and create a free account. When prompted, enter your personal information and contact details. Don’t forget to add a secure username and password.
• Step 2: Deposit Funds
  You will need to deposit at least $10 before you can buy Dogecoin at eToro. For the fastest deposit method possible, choose from a debit or credit card. Other payment methods supported by this broker include ACH, domestic bank wire, and e-wallets like Neteller.
• Step 3: Search for Dogecoin
  Now that you have funds in your eToro account, type Dogecoin into the search bar at the top of the screen. When you see Dogecoin appear from the list of supported markets, click ‘Trade’.
• Step 4: Buy Dogecoin Coin
  The final step of the Dogecoin investment process will require you to fill out a simple buy order form. Enter the amount of money that you wish to invest in Dogecoin, from $10 upwards. And finally, to place your Dogecoin order, click on the open trade button.

By following the simple step-by-step walkthrough outlined above, you have just learned how to buy DOGE in the US with an SEC-regulated broker.

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Where To Buy Dogecoin (DOGE) In The USA

Are you searching for how to buy Dogecoin in the USA? Well, there are hundreds of crypto exchanges and brokers in the USA. This can make it hard to know which platform is right for you.

List of the best Exchanges to buy Dogecoin (DOGE) in the USA:

Looking where to buy Dogecoin in the USA right now? Below you will find 4 of the best brokers that allow you to buy DOGE in the USA.

• Binance – Best exchange to buy Dogecoin USA for asset diversity
• Coinbase – Best exchange to buy Dogecoin (DOGE) for beginners
• OKEx – Best broker to buy DOGE USA for low-cost

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What Is Dogecoin (DOGE)?

Dogecoin is the first meme cryptocurrency created in December 2013 by two engineers Billy Marcus and Jackson Palmer. The Dogecoin project was developed in just two hours, and it was, in fact, launched as a joke to mock the speculations and seriousness leading in the cryptocurrency market.

The business couple was inspired by a Doge meme representing the Shiba Inu dog and some writings on it in broken English that became popular at that time. They took the name Doge as their project name and Shiba Inu dog picture as their cryptocurrency icon. But Dogecoin has become mainstream only over the last two years. Until that, the project succeeded in gathering a large army of followers who started a campaign on Reddit called “Doge to the moon,” aiming to raise Dogecoin’s price to $1.

How Dogecoin (DOGE) Works And What Affects Its Price?

Dogecoin is a digital payment system pretty much similar to Bitcoin. It uses the Proof-of-work protocol and Scrypt algorithm to run its blockchain, and much like Bitcoin, Dogecoin can be used to buy goods and services as well as to trade and make a profit on its price fluctuations.

Apart from its minor technical differences, Dogecoin developers mention its funny nature as another privilege over other cryptocurrencies. They describe this meme coin on Dogecoin.com as a peer-to-peer digital currency that stands out with its fun and friendly nature and sets itself apart from other cryptos with its vibrant community. In that matter, Dogecoin essentially does not have any innovative ideas to offer the crypto industry and solve real-world problems.

So how did Dogecoin become so popular? Perhaps, one thing is the creative approach to the project, and the broad community gathered around it. The next factor is the support from such celebrities as Elon Musk, Mark Cuban, and others. Tesla CEO Elon Musk frequently posts funny tweets and memes about Doge, and he even announced the Doge-1 mission in which Falcon 9 rocket will carry a private satellite, and the whole project will be paid in Dogecoin.

And the last factor is the bizarre nature of the crypto market which is highly volatile and speculative and often runs on rumors and speculations on famous sites and forums like Reddit.

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Is Dogecoin (DOGE) A Buy Right Now?

Generally, there are at least two factors that can negatively affect Dogecoin’s price. The first one is that it does not have a finite supply which means that miners can issue an unlimited number of coins. Bitcoin, for example, is limited to 21 million coins, which makes it a more valuable asset.

The second factor is that Doge doesn’t have a unique technical characteristic that can help it become utilized by wider communities. In this perspective, Dogecoin is a speculative asset, meaning its long-term success is under question.

Nonetheless, it is impossible to ignore the hype around Dogecoin and the increase in its price since the beginning of the year.

When we look at the chart, we can conclude that Dogecoin can be a good short-term investment. At the time of writing, the cryptocurrency market is in a crisis, and Doge has lost its value significantly. Still, it might recover as soon as Bitcoin and other leading digital currencies will rise again.

After all, Dogecoin is a cryptocurrency, and all the cryptocurrencies are highly volatile and speculative meaning there are lots of opportunities in the crypto market including Dogecoin. Further, Dogecoin is not too expensive, so it is a good start for newbies. You can invest in small amounts and wait until the prices go up and profit. On the other hand, you should always be careful and don’t risk your capital if you can’t afford to lose it.

From the perspective of a long-term investor, if you want to invest in Dogecoin, it’s the right time to do that as DOGE prices have significantly dropped since May 2021 and the coin is currently trading at relatively low prices. But it’s also worth mentioning that you should be very careful when investing in this crypto asset. 

How To Buy Dogecoin (DOGE) Online In The USA – A Step by Step Guide

In this part of the article, we will provide you with a step-by-step guide explaining how to buy Dogecoin in the USA.

1. Find a US Regulated Crypto Exchange that Supports Dogecoin

First, you need to find a cryptocurrency exchange platform that operates in the US and allows you to buy Dogecoin. As there are several cryptocurrency exchanges nowadays, finding the best platform may be challenging for you. Some of the factors you need to consider in this phase include fees, safety, tools, customer service, payment methods, etc.

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2. Buy Dogecoin

Now, when you have a verified account, you just need to search for Dogecoin on the exchange dashboard and fill in the amount you want to invest. Some exchange platforms allow you to buy Doge directly with fiat currencies, while others may require that you buy another coin with fiat and swap it with Dogecoin.

3. Transfer Your Funds to a Hardware Wallet

Finally, when you buy your coins, it’s highly recommended that you transfer them to a hardware wallet. The primary purpose is to keep your coins safe and away from the third party as long as exchange platforms can be easily hacked.

For those unaware, a hardware wallet is a physical device where you keep your coins offline, so it’s almost impossible to lose your coins when using this method to protect them.

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How To Trade Dogecoin (DOGE) In The US – A Step by Step Guide

Dogecoin is a highly volatile digital asset, which means you can profit from its price fluctuations. So, if you want to trade Dogecoin and don’t know how to start, here is a full guide on how to trade Dogecoin in the US.

1. Find an Online Trading Platform in the US that Supports Dogecoin

You need to start by looking for a brokerage platform that supports Dogecoin and accepts US residents. For that matter, if you plan short-term trading, you will probably make lots of transactions, so consider what trading fees the platform charges and how quick and easy it works. If you want to buy Dogecoin for long-term trading, consider monthly account fees, inactivity fees, safety, etc.

2. Fund Your Account

After finding the best trading platform, you need to register for an online account and verify it. When your account is verified, you must add some money to start trading. To do that, choose one of the payment methods that the broker supports to deposit the minimum of funds required for trading.

3. Develop a Dogecoin Trading Strategy

Before you start trading DOGE or any other asset for that matter, it’s strongly recommended to develop a trading strategy to lower the risk of losing your money and be more confident with your trades. If you are an active trader and have lots of time to devote to this, you can choose a scalping method when you buy and sell coins in a matter of seconds. Day trading is another active strategy when the buy and sell processes occur with the same trading day.

For those of you who are a bit busier, the swing is the ideal trading strategy, in which trades last from a couple of days to several weeks. At last – “Buy and hold” is a more passive strategy; when you buy assets and wait until their value increases, then you sell them and make a profit.

4. Start Trading Dogecoin

Finally, you have a funded account and a trading strategy, so you can start trading Dogecoin. In this case, we suggest we follow several crypto news sites and even join popular crypto forums in order to get a better sense of the Doge market.

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Dogecoin (DOGE) Advantages And Disadvantages

If you still cannot decide whether you want to invest in this cryptocurrency, below we have listed Dogecoin’s most notable advantages and disadvantages.

Advantages of Dogecoin:

• Dogecoin is the most popular digital asset among meme coins.
• It’s supported by celebrities, entrepreneurs, including Elon Musk, Gene Simmons, Snoop Dog, etc.
• Its value has increased 8343.09% in the last 12 months.
• Meme coins are becoming more and more popular.
• Dogecoin has an enormous army of followers.

Disadvantages of Dogecoin:

• Dogecoin has an infinite supply which can have a negative impact on its value.
• The project doesn’t aim to solve any real-world problems.
• It’s a speculative asset created just for fun.

What Is Dogecoin (DOGE) Price Prediction?

We have already viewed in detail the essence of this unique digital asset and discussed its price history. Now, let’s talk about its future price and see how Dogecoin’s future is forecasted. We have taken forecasts from the following three websites, and all of them are optimistic about the future of this digital currency. According to these analysts, Dogecoin will not crash, and its value will increase in the upcoming years.

Digital Coin Price considers DOGE a profitable investment and predicts that it will be traded at $0.18 in 2022, $0.20 in 2023, and $0.23 in 2024. According to its predictions, Dogecoin will hit $0.45 in 2028.

Wallet Investor predictions are a bit more bullish compared to that of the previous two. They consider Dogecoin a profitable investment with a 136% earning potential. According to their predictions, the meme coin can hit $0.30802 in one year and will be trading at $0.975 in five years.

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How Do I Mine Dogecoin (DOGE) In The USA?

Dogecoin uses the same protocol to manage its blockchain, like Bitcoin, called Proof of Work. This means that miners spend substantial computational power and electricity to solve tricky puzzles and are rewarded with a new block.

But, mining Dogecoin is not as complex as Bitcoin; Dogecoin uses an algorithm called Scrypt, which requires fewer resources and less powerful computers. Due to this algorithm, a new block is created each minute and the miner gets rewarded with 10,000 for each block.

To start mining Dogecoin in the USA, you need to find the appropriate laptop for mining. Also, there are certain things to consider in this process, including internals, dimensions, etc. Then you must create a Dogecoin wallet to which you can transfer all your rewards. After these steps, you need to find an app that allows you to mine Dogecoin and start mining DOGE coins.

What Is The Total Supply Of Dogecoin (DOGE)?

Unlike Bitcoin, Dogecoin doesn’t have a finite supply. Its cap is unlimited, which, in its turn, can have a negative impact on its value. The circulating supply of Dogecoin at the time of writing is 131 billion, which increases with over 5 billion Dogecoin each year. It means that every minute of the day, 10,000 new Dogecoins are being issued.

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Things To Consider Before You Invest In Dogecoin (DOGE) In The US

To sum up, Dogecoin is clearly one of the trending cryptocurrencies that won the attention of a vast army of followers, including celebrities, entrepreneurs, and other prominent people. It’s an inexpensive asset to invest in that can attract several newbies in the field of trading. Plus, Dogecoin increased 20,000% from its initial price – a growth that even the leading cryptocurrencies in the market, including Bitcoin and Ethereum, didn’t make over the last years.

Another factor that makes Dogecoin appealing is the recent popularity of meme coins. More and more such digital currencies are created nowadays, but none of them could even be closer to Dogecoin’s value. So, we can surely say that presently, Doge is the leading meme coin in the cryptocurrency market.

While all these characteristics make Dogecoin an inviting asset to invest in, there are certain risks to consider before you put your money at risk. One problem is that Dogecoin is a speculative asset. The cryptocurrency industry is not as well-established as the traditional method we use to pay for goods and services. To make their projects successful, founders try to solve a particular problem through their technology.

But Dogecoin does not aim to do so; it’s a meme coin created in 2 hours and does not offer any innovative ideas to the industry. In this perspective, Dogecoin isn’t a good long-term investment as people can lose interest in this crypto at any time. On the other hand, Doge can be an excellent short-term investment if you buy and sell it at the right time, in large part due to the high volatility, and the relatively low liquidity in the crypto markets.

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Investing in Dogecoin is easier than beginners might think – all you need is an online brokerage account to get started.

Dogecoin, which was first created as a ‘joke’, has been going through a phenomenal phase since the turn of the year.

Tweets from tech icon Elon Musk sent the price of Dogecoin up 25% in March 2021.

If you are thinking about adding this digital coin to your cryptocurrency portfolio – then our How to Invest in Dogecoin Guide will walk you through the entire process.

This guide comes with an explanation of what Dogecoin is, why you should consider this asset, and crucially – how you can make an investment using a reliable online broker today.

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How To Invest In Dogecoin (DOGE) – Quick Guide

• Step 1: Open an account with eToro. Head to eToro’s website and click join now to open a new account.
• Step 2: Verification. By uploading essential documents that show proof of identity and home address, you will get your account verified in a short time.
• Step 3: Deposit Money. Fund your new eToro account with a minimum of $10.
• Step 4: Search for Dogecoin on eToro. Search for DOGE or Dogecoin in the eToro crypto market.
• Step 5: Buy DOGE. Enter the amount of the worth of Dogecoin you want to purchase, then click Open Trade.

That’s it! By following these easy steps, you can buy Dogecoin in less than 5 minutes.

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What Is Dogecoin (DOGE)?

Dogecoin is a decentralized cryptocurrency that allows fast and secure peer-to-peer transactions at a low cost.

When launched in 2013, the initiative behind Dogecoin was to develop a digital currency with a humorous approach. Hence, the name ‘Doge’ – was taken from a Shiba dog meme that was viral at the time.

Since then, Dogecoin has quickly gained a community of followers eager to support the cryptocurrency. In its framework, Dogecoin is a derivative of Litecoin. It adopted a large portion of its code and its underlying concept from LTC, which, in turn, borrows from Bitcoin.

When the coin was released, the developers behind Dogecoin, Billy Markus and Jackson Palmer, emphasized that its focus as a cryptocurrency is for transactions.  Over the years, the coin has been used widely on the internet, but mainly for ‘tipping.’

For instance, if you came across a very interesting comment on Reddit, you could tip the writer with Dogecoins. The amount rarely added up to much, but served primarily as a token of appreciation.

Thanks to the internet and Reddit community, Dogecoin has now evolved into a powerful brand. Its low price makes it a great choice for transactions, and as a decentralized currency, it is appealing to investors as well.

At the moment, there is no hard cap implemented on the number of Dogecoins – which makes it challenging to predict where the coin is headed for.  At the start of 2020, each Dogecoin token was valued at approximately $0.0025.

By October 2021, the token had reached $0.30 – translation to a gain of over 13,000% in over just 12 months. This sudden frenzy means that Dogecoin is now one of the top cryptocurrencies in the market at the moment.

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How Does The Invest In Dogecoin (DOGE) Process Work?

The best way to understand how Dogecoin investments work is to think of them like any other asset. In simple terms, you invest a certain amount into this digital asset – hoping that it will rise in value over time.

Although it might sound straightforward, we recommend that you do sufficient homework before taking the leap. In other words, you should have a firm grip on what affects the price of Dogecoin in order to determine whether the crypto-asset makes for a worthwhile investment.

Essentially, whether Dogecoin increases in value or not is mostly dependent on market mechanisms. For example, if there is a sudden interest among investors to go long on this coin – then the price of Dogecoin is likely to go up.

On the contrary, if the market sentiment towards Dogecoin is weak, then the value will also drop. In other words, if there is a high interest from buyers, it will be reflected in the market with rising prices.

Let us give you an example so that you can better understand how to invest in Dogecoin:

• You want to invest an amount of $1,000 in Dogecoin.
• When you make the purchase, the price of Dogecoin stands at $0.050 per coin.
• You continue to ‘hold’ on to your coins – storing them in a digital wallet.
• After three years, the price of Dogecoin is now worth $10 per coin.
• That translates to an increase of 19,900% in the price of Dogecoin.
• You sell your Dogecoin assets.

In this example, your $1,000 investment in Dogecoin would now amount to $200,000. This is one scenario of how you can multiply your stake with the right timing and the market on your side.

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Why Should You Invest In Dogecoin (DOGE)?

If you are intrigued by the world of cryptocurrencies, now you have over 12,000 digital coins to pick from. However, cryptocurrency markets are largely volatile, and thus, before you make any investments, you need to ensure that you have done sufficient research on the market.

If Dogecoin has caught your eye, here are some of the reasons why you might want to invest in the coin:

1. Dogecoin is Supported by a Vibrant Community

When it comes to the success of cryptocurrencies, the brand plays a crucial role today. Along with the likes of Bitcoin and Ethereum, Dogecoin is also emerging as one of the top known brands in the ever-growing crypto arena.

It is quintessentially crypto-spawned by its loyal Reddit following. It was established with a purpose and has continued to thrive on it.

From offering the coins as ‘tips’ and being generally helpful, the Dogecoin community has built a positive reputation in the online space. Even without an update since 2019, it was the community that made it possible for the coin to survive this long.

2. Collective Beliefs that Outweighs Fundamentals

The sudden surge in the price of Dogecoin has been fuelled by celebrities and social media influencers encouraging their followers to invest in the coin. Social media mentions of Dogecoin by Elon Musk are at the forefront of this.

As you can guess, this upsurge is sentiment-driven, as is the case with most cryptocurrencies. Until recently, it was feared that coin was close to being abandoned by its developers. After all, the last major update release occurred over two years ago.

There were also reports that Dogecoin lacks its own miners; instead, miners rely on Litecoin to find this digital asset. It is easy to see that the price upsurge this coin is experiencing at the moment is primarily due to speculation.

However, there are several cases these days where wider sentiment has been the rocket fuel in spiking crypto prices. The examples of MarsCoin and GameStop are convincing cases.

In other words, collective belief can be a powerful force when accompanied by collective action. In the era of social media, it remains to be seen whether celebrities will be able to continue leveraging their fan base to drive up prices and for how long.

3. A Bullish Prediction

In line with the current sentiment, Dogecoin is expected to head towards its first $5 price-point by the end of 2025. Thanks to the ever-growing community, popularity, and worldwide adoption, the coin could stay in a bullish market trend for several years.

There will certainly be ups and downs – but the general upward price trend might continue to prevail. That said, such predictions will only be credible as long as the trading environment remains ideal.

With cryptocurrencies suffering from high volatility and regulatory updates all the time, there are, of course, chances that growth projections can be impeded.  In light of the current events, if you are planning to invest in Dogecoin, there is plenty to be optimistic about in the upcoming years.

Would You Consider Investing In Dogecoin?

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How To Invest In Dogecoin (DOGE) – Various Options Available

These days, it has become incredibly easy for you to get your hands on a cryptocurrency. There are a number of ways available, albeit, it is up to you to decide which method is more preferable.

Regardless, be sure that you consider all aspects, such as the safety and fees involved when you make your Dogecoin purchase.

Below you will find some of the most popular ways to invest in Dogecoin in 2021.

1. Dogecoin ATMs

Cryptocurrency ATMs are no longer a rare sight. In fact, there are over 12,500 such ATMs located across 71 countries that give out Bitcoin and other altcoins. You will find many Dogecoin ATMs located in the US, Canada, Mexico, and Europe – largely concentrated in major cities.

In simple terms, these ATMs allow you to buy digital coins by inserting cash into the machine.

This is how the Dogecoin investment will work while using a cryptocurrency ATM.

• Find your nearest cryptocurrency ATM.
• You select Dogecoin from the list of cryptocurrencies
• You specify the amount you want to invest in Dogecoin – let’s say you wish to invest $500.
• The ATM will tell you how many Dogecoins you will get for $500 and the fees involved in making the purchase.
• For instance, if the cryptocurrency ATM charges you a 5% fee, then you will be able to get $475 worth of Dogecoin at the current DOGE/USD rate.
• You insert $500 into the ATM.
• The machine will then print out a receipt that includes the details of the Dogecoin wallet and how you can claim the digital coins.

Now, at first, glance, using a cryptocurrency ATM will indeed strike as a very convenient choice. The process is fast and hassle-free, especially if you have a machine close to your location.

That said, there are also certain other aspects that you should evaluate first. Most importantly, cryptocurrency ATMs often charge exorbitant fees for transactions. You could find yourself paying anywhere between 5% to 20% every time you make a purchase.

Furthermore, your investment process is not completed at the machine. When you have inserted the money, you have only invested the respective amount – as you are yet to claim your coins.

In order to do that, you will have to access them through another third-party cryptocurrency wallet. While experienced cryptocurrency investors will have no trouble with this step – it might be a bit confusing for beginners.

All things considered, there are much more convenient ways to invest in Dogecoin rather than going to an ATM.

If you are in the market for a cost-effective way, we recommend using a regulated online broker. Continue reading to find out more about how Dogecoin investments work at a cryptocurrency broker.

2. Dogecoin Broker

As with any other tradable asset, you can find regulated online brokers that offer cryptocurrencies alongside traditional markets like stocks and ETFs. If you are wondering how to invest in Dogecoin online – no other method is easier than using a brokerage platform.

As we mentioned above, the entire process often takes less than 10 minutes to complete – which includes signing up on the website, adding your funds, and buying Dogecoin. Crucially, you can do this without leaving the comfort of your home.

Online brokers also offer flexible choices on how you can pay for the digital coins. For instance, you will be able to deposit trading funds using a debit/credit card or through a quick bank transfer. On some brokers, you will also find options for e-wallets such as PayPal and Neteller.

Most importantly, the best online brokers will also hold licenses from regulatory bodies that authorize them to function in the respective jurisdictions. This will also serve as another layer of safety and protection when it comes to your cryptocurrency transactions.

In addition, the fees involved while investing in Dogecoin through online brokers are also considerably lower when compared to other channels.

To help you get started, below we discuss how you can find a good regulated broker when choosing to invest in Dogecoin.

How To Choose A Platform To Invest In Dogecoin (DOGE)

Considering the advantages mentioned above, it is no surprise that the online cryptocurrency trading scene is crowded with brokers and exchanges. When so many of them competing for your attention – it can be a daunting task to know which platform to opt for.

In this section, we define some of the most important parameters you need to weigh in when choosing a brokerage platform for your Dogecoin needs.

Licensing and Reputation

If you are given a choice between a regulated platform and an unregulated one – the choice is obvious, isn’t it? The same goes for online brokers as well.

No matter how low the fees are or what attractive features they offer, if the platform does not hold a license from at least one financial regulatory body, it is best to shop elsewhere.

The reason is simple. There is no shortage of cryptocurrency exchanges in the online trading space.

However, the lion’s share of them are unregulated. Meaning – you will be entrusting your funds to a platform that does not give proper attention to its regulatory responsibilities nor the safety of your money.

As such, the chances of getting scammed on such sites are relatively high.

On the other hand, opting for a regulated broker means that you are taking your business to a platform that takes the interest of the customers seriously, keeps your finds secured in segregated accounts, and submitting itself to regular audits.

Therefore, it would be best to shorten your search to platforms that hold a license from a well-respected body – such as the FCA in the UK, ASIS in Australia, and CySEC in Cyprus.

This will ensure that you can invest in Dogecoin without concerning yourself with any cases of fraud or malpractice.

Fees to Invest in Dogecoin

Adjacent to regulation, the fee structure is another aspect you need to consider closely. Regardless of which online broker you choose, you will be liable to pay a fee in order for them to execute your Dogecoin investments on your behalf.

As with any other business, the fees can vary notably from one broker to another.

Let us give you a practical example to offer some insight.

• Let us take the case of Coinbase – a cryptocurrency exchange that offers multiple payment methods for you to invest in digital coins.
• However, the platform also charges you a hefty fee of 1.49% on all your trading orders.
• For example, if you want to invest $2,000 in a digital currency, you will have to pay $29.80 in trading commission.
• If you have invested $10,000 – your commission will add up to $149.

Further, when you are ready to cash out, you will have to pay this commission again.

In addition to the trading commission, you will also have to consider any transactional fees you are liable for. These will be applied every time you make a deposit to your trading account or withdraw cash to your bank.

Minimum Dogecoin Investment and Payments

In most cases, your chosen broker will require you to invest a minimum amount in Dogecoin. Considering that the all-time high price of Dogecoin stands at $0.078, it allows you to purchase a high volume of this cryptocurrency without burning a hole in your wallet.

However, considering how volatile the cryptocurrency market is – it is best that you choose a broker that allows you to stake small sums.

At the other end of the spectrum, you will also find exchanges with no minimum investments in place. However, it is likely that any small investment amounts will also be accompanied by high trading commissions.

But it is not uncommon for online brokers to offer you zero-commissions and low minimum investments. If such platforms also hold regulatory licenses – this is optimal

It is also equally important that you make a note of what payment methods are available for you to make any deposits. The best brokers will offer you a variety of options – ranging from bank cards to e-wallets.

If you choose a platform that only supports bank transfers – you might have to wait a few business days for the money to find its way to your trading account.

Storage and Cashing Out

Lastly, purchasing Dogecoins is only one-half of your investment plan. You should also contemplate how you are going to keep your digital assets safe – until you are ready to cash out.

There are online brokers that offer you digital wallet services on its platform. This way, you do not have to worry about keeping your funds safe or go through the bother of finding a third-part cryptocurrency wallet. The only thing is – make sure that this chosen broker is regulated.

Alternatively, you can withdraw your Dogecoin investment to a private wallet once you have made the purchase. If you already have another cryptocurrency wallet – this option is worth considering.

Ready To Start Investing In Dogecoin?

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How To Invest In Dogecoin (DOGE) Today – Step-by-Step Walkthrough

If you are investing in a cryptocurrency for the first time – here is how you can complete the process in under 10 minutes.

Follow our guidelines to find out how to invest in Dogecoin today in six simple steps.

Step 1: Open an Account

When you have made a decision with which online broker to use, head over to its website. You can create an account by entering your personal data and required contact information.

You will receive a confirmation email, and once you have verified it – you are all set to go.

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Step 2: Upload Some ID

Across all regulated online brokers, you will be required to go through a KYC process in order to verify your identity. This will be mandatory in order to make a deposit.

Although it might sound complex, the process is quite simple. You only need to provide a valid photo ID and upload a copy to the website.

This should be a passport or driver’s license. If you need to attach proof of address, you can include a utility bill or bank account statement.

Some platforms have automated this step, and hence, you will be able to confirm your account almost instantaneously.

Step 3: Make a Deposit

The next step is to add funds to your trading account. Choose one of the payment methods supported by the platform. Ensure you meet the minimum deposit amount required, and complete the transaction.

Step 4: Search for Dogecoin

When the funds are available in your trading account, you have everything ready to start investing in Dogecoin.

Search for ‘Dogecoin’ on the brokerage platform. You will be redirected to the trading page of the digal asset.

Step 5: Complete Dogecoin Investment

Enter the amount you wish to invest in Dogecoin. Once you are ready to complete the investment, confirm the order. The Dogecoins will be added to your wallet.

Step 6: Cash Out Your Dogecoin Investment

If your chosen broker has digital wallet functionality, the coins will be directly added. If not, the site will give you instructions on how you can withdraw the coins to your private wallet.

When it is time for you to cash out, you can sell your Dogecoin back to the broker you bought them from. The proceeds from the trade will be sent back to the payment method you used to make the original Dogecoin purchase.

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How To Invest In Dogecoin (DOGE) – The Bottom Line

Does Dogecoin have a bright future ahead? The question is a tricky one to answer. With that said, you might want to trade lightly before making any hefty investments solely based on the current market scenario.

If you have read our guide thoroughly- you now know how to invest in Dogecoin when you are ready.

The process is very straightforward – simply choose an online broker, add funds, and specify the amount you want to invest in Dogecoin to complete the purchase.

For those who are eager to start right away – make sure you follow our guidelines on picking the right online broker in order to protect your trading capital.

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FAQs

What is the minimum amount I can invest in Dogecoin?

At the time of writing this guide, one Dogecoin is valued at $0.14. Hence, you can invest a small amount and still get a considerable amount of Dogecoin in return. If you choose a broker with a small minimum investment policy, you can purchase from $10 worth of Dogecoin.

Is it a good idea to invest in Dogecoin?

Dogecoin was on a bullish trend until mid-2021. Some believe that the digital coin pick up its upward direction again – but there is no guarantee. For this reason – it is always recommended that you do your homework before taking the plunge.

How can I invest in Dogecoin?

All you need to do is find a regulated cryptocurrency broker that offers low trading fees. Deposit the minimum amount required and make your Dogecoin investment.

Is it possible to invest only $100 in Dogecoin?

Yes, you simply need to choose an online broker that has a minimum investment amount of less than $100.

Will I encounter losses on my Dogecoin investments?

Yes, you can. If the price of Dogecoin drops after you have invested in the asset, you will end up losing money.

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