dogecoin

How to buy Dogecoin (DOGE)

A beginner’s guide to buying and selling DOGE in Indonesia.

Dogecoin (DOGE) is a decentralised, peer-to-peer cryptocurrency similar to bitcoin (BTC) and Litecoin (LTC). Though it started out as a joke, Dogecoin has grown into one of the most widely traded cryptocurrencies in the world and, at the time of writing, has a market capitalisation in excess of US$637 million.

This guide takes a closer look at how DOGE works and the best ways to buy and store DOGE in Indonesia.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Where to buy DOGE in Indonesia

You can buy DOGE on a wide variety of popular cryptocurrency exchanges, including:

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Cryptocurrency
USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 23+ more

181
cryptocurrencies

Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Electronic Funds Transfer
Bank transfer (SEPA)
Wire transfer
Ethana Custody
USD, EUR, GBP, JPY, CAD, CHF

32
cryptocurrencies

Buy, sell and trade a range of digital currencies on this high-liquidity exchange – suitable for beginners right through to advanced traders.

UK residents: In addition to normal crypto trading, Kraken offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Cryptocurrency
Bank transfer (SEPA)
SWIFT
Wire transfer
Faster Payments Service
GBP, EUR, USD

89
cryptocurrencies

BC Bitcoin is a UK-based cryptocurrency brokerage that buys and sells more than 100 different cryptocurrencies.
Credit card
Cryptocurrency
USD

387
cryptocurrencies

CoinSwitch allows you to compare and convert over 250 cryptocurrencies across all exchanges.
Credit card
Debit card
USD, EUR, GBP

115
cryptocurrencies

Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
AdvCash
Cryptocurrency
Payeer
Perfect Money
Capitalist
USD, RUB

1419
cryptocurrencies

Pay in USD, RUB or trade crypto to crypto at this Russian-based cryptocurrency exchange with hundreds of coins listed.
Cryptocurrency
-

118
cryptocurrencies

Buy and trade 100+ cryptocurrencies on this global cryptocurrency exchange.
Indacoin Cryptocurrency Exchange
Credit card
Debit card
USD, EUR, RUB

158
cryptocurrencies

Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
Huobi Cryptocurrency Exchange
Cryptocurrency
GBP, USD, AUD, EUR, INR, BRL, KHR, CAD,CNY, NZD & 15+MORE

234
cryptocurrencies

Huobi is a digital currency exchange that allows its users to trade more than 190 cryptocurrency pairs.
Bittrex Digital Currency Exchange
Cryptocurrency
Wire transfer
USD

236
cryptocurrencies

Buy from one of the largest cryptocurrency exchanges with a selection of over 190+ cryptocurrencies and 3 USD pairings.
Poloniex Digital Asset Exchange
Credit card
Cryptocurrency
Bank Wire
-

52
cryptocurrencies

Trade various coins through a global crypto to crypto exchange based in the US.
ShapeShift Cryptocurrency Exchange
Cryptocurrency
-

51
cryptocurrencies

Quickly swap between more than 40 cryptocurrency assets or use your credit card to instantly buy bitcoin.
Bitit Cryptocurrency Marketplace
Cashlib
Credit card
Debit card
Neosurf
Bank transfer (SEPA)
EUR, USD, JPY, DKK, GBP, SEK, NOK, TRY & 5+ more

50
cryptocurrencies

Buy cryptocurrency with cash or credit card and get express delivery in as little as 10 minutes.

Compare up to 4 providers

A step-by-step guide to buying DOGE

If you want to buy DOGE, here’s an example of how you can do it:

Step 1. Register for an account with an exchange that allows you to buy DOGE

The first step is to search for an exchange that lists DOGE in one or more currency pairings. Once you’ve found a suitable exchange, you can sign up for an account by providing your email address and creating a password.

Many exchanges will require you to provide your full name, contact information and proof of ID before allowing you to trade, while we also suggest enabling two-factor authentication on your account for extra security.

Step 2. Deposit funds into your account

Most crypto exchanges don’t allow you to directly exchange fiat currency or your Indonesian rupiah (IDR) for DOGE. This means you’ll first need to acquire a cryptocurrency that’s listed in a pairing with DOGE, such as Ether (ETH) or bitcoin (BTC), and then trade it for DOGE.

Step 3. Buy DOGE

The final step is to navigate to the markets section on your chosen exchange and then look for your desired DOGE pairing. Click on “Buy DOGE” and then type in the amount of IDR you want to spend or the amount of DOGE you want to buy.

Make sure to carefully review all transaction details, including the amount of DOGE you’re buying and the total cost of the purchase, before completing the transaction.

How to sell DOGE

If you want to sell your DOGE holdings, you can do so by following a similar process to that outlined in Step 3. You’ll obviously need to look for the “Sell DOGE” link, while it’s also worth remembering that you may not be able to directly exchange DOGE for the currency you want to acquire.

Which wallets can I use to hold DOGE?

Unless you’re looking to place a trade, storing cryptocurrency in an account on an exchange is not recommended. Instead, it’s generally much safer to store your DOGE in a secure wallet.

The official Dogecoin wallet for Windows, Mac and Linux operating systems is available for download from the Dogecoin website, while there’s an Android mobile wallet available as well.

There are also several other online and desktop wallets that support DOGE, or you may wish to use a hardware wallet such as the Ledger Nano S.

How DOGE works

Founded in 2013 by Australian Jackson Palmer and IBM software developer Billy Markus, Dogecoin started life as a joke. In a January 2018 article in the Sydney Morning Herald, Palmer explains that the idea for Dogecoin started from a light-hearted tweet criticising the rapid rise of “scammy” altcoins at the time. Dogecoin takes its name from the immensely popular (in 2013) viral “doge” memes. Its mascot, which features heavily on the Dogecoin website, is a Shiba Inu.

However, behind all the fun and games of Dogecoin lies a very popular cryptocurrency. Designed to offer fast and affordable online transactions, this open-source digital currency can be used as a form of payment for goods and services, traded for other currencies, and is also commonly used to “tip” other Internet users who create or share popular content.

Based on the LuckyCoin protocol, a fork of Litecoin, Dogecoin uses the Scrypt encryption algorithm. Dogecoin was instantly popular in the crypto community and within two months of its launch, it had a market capitalisation of US$74 million. DOGE’s value has experienced several rises and falls since then, most recently in January 2018 when it reached a market cap of more than US$2 billion and a price of US$0.017359.

Find out more about Dogecoin in our complete guide.

Key things to consider if you’re thinking about buying DOGE

All cryptocurrencies are complicated and highly speculative, and there are many factors that can affect their value. It’s essential to be fully aware of all the risks associated with cryptocurrencies before making a purchase.

If you’re thinking of buying any Dogecoin, make sure you consider the following factors first:

  • Supply. At the time of writing (13/02/2018), CoinMarketCap listed the circulating supply of Dogecoin as 113,174,969,242 DOGE. There is no maximum supply of Dogecoin as there is no set limit on the number of coins produced.
  • Availability. One of the key factors that affects the popularity of a cryptocurrency is its availability. Dogecoin is listed on a wide range of cryptocurrency exchanges, making it relatively accessible in comparison to more obscure coins for anyone thinking of buying.
  • Community support. Dogecoin is something of a legend in cryptocurrency circles and is supported by a vibrant and active community, as shown by its active Reddit page. This support has seen Dogecoin survive since 2013, which is a very long time in the world of digital currency.
  • Joke or not? Dogecoin started life as a joke and a quick visit to the coin’s website is enough to reveal that this currency doesn’t take itself too seriously. This has been a key factor in its survival and success. However, if you’re looking for a coin to buy and hold in the hope of achieving long-term profits, you’ll need to consider whether DOGE fits with your cryptocurrency strategy.
  • Future development. As for what the future may hold for Dogecoin, it’s worth considering what the coin’s co-founder Jackson Palmer said in an interview with CoinDesk in March 2017: “New features aren’t being implemented into Dogecoin because there’s no active development anymore. Eventually, it will become outdated. And with that, the network will organically wind down.” Palmer left the Dogecoin team in 2015, but this does raise important questions about the longevity of the currency.

By researching all the important information you can find about Dogecoin and considering the above factors, you’ll be in a much better position to decide whether or not to buy DOGE.

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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