BC Bitcoin Cryptocurrency Broker
- DOGE and 100+ other cryptocurrencies available
- UK-based cryptocurrency business
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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 $5 billion as of January 2021. Here’s our guide to how to buy DOGE.
Set up an account with an exchange that supports Dogecoin in three steps.
Look through the table above to see a list of exchanges that sell or trade Dogecoin. You can also check whether they accept pound sterling (GBP) or cryptocurrency.
Many exchanges also require your full name, contact information and proof of ID before allowing you to trade. We suggest two-factor authentication on your account for extra security.
The table above shows you which exchanges let you purchase Dogecoin with pound sterling (GBP). If the exchange you want to use only accepts cryptocurrency, then you will need to acquire a cryptocurrency that can be traded for DOGE, such as Bitcoin (BTC) or Ether (ETH) which can then be traded for DOGE.
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.
Carefully review your transaction details – including how much DOGE you’re buying and the total cost of the purchase – before completing the transaction.
To sell your DOGE holdings, look for a “Sell DOGE” link in your exchange. 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:
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