eToro Cryptocurrency Trading
- Buy Dogecoin and 18 other cryptocurrencies
- Copy top-performing traders
- Disclaimer: Virtual currencies are highly volatile. Your capital is at risk
Dogecoin (DOGE) is a decentralised, peer-to-peer cryptocurrency that’s similar to Bitcoin (BTC) and Litecoin (LTC). What started out as a joke has grown into one of the most widely traded cryptocurrencies in the world with a market capitalisation of more than $70 billion USD as of May, 2021.
Set up an account with an exchange that supports Dogecoin in three steps.
Look for an exchange that lists DOGE in one or more currency pairings, and sign up with your email address and a password.
If your exchange supports Dogecoin you’ll be able to buy DOGE directly with GBP.
Navigate to the markets section on your chosen exchange to find your desired DOGE pairing. Look for the section on buying DOGE, and type in the amount of the paired cryptocurrency you want to spend or the amount of DOGE you want to buy.
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.
Unless you’re looking to place a trade, we don’t recommend storing cryptocurrency in an account on an exchange. It’s often safer to store your DOGE in a secure cryptocurrency wallet.
Check out our list of the best Dogecoin wallets to get started.
Founded in 2013 by 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 explained the idea for Dogecoin started from a lighthearted tweet criticising the rapid rise of “scammy” altcoins at the time. Dogecoin takes its name from the popular viral “doge” memes. Its mascot, which features heavily on the Dogecoin website, is a Shiba Inu.
Behind 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, a vehicle to trade for other currencies and a way 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 $74 million. DOGE’s value has experienced several rises and falls since then, reaching its all-time high in January 2021 with a market cap of more than $5 billion.
Cryptocurrencies are complicated and highly speculative, and many factors can affect their value. Understand the risks associated with cryptocurrencies before making a purchase.
If you’re thinking of buying Dogecoin, weigh the following factors against your financial goals:
Discover more statistics and the reasons why people are investing in cryptocurrency in our report
An in-depth guide to the best wallets for storing Dogecoin (DOGE), and how to choose the right wallet for your needs.
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