What is Dogecoin?
Dogecoin (DOGE) is a cryptocurrency that was forked from Litecoin in Dec 2013. Dogecoin has a Shiba Inu dog on its logo. DOGE was created as a “joke currency” but it quickly grew popular online. Dogecoin is often used to tip other users for providing interesting or helpful content.
How to Buy Dogecoin?
Create a Dogecoin Wallet
Before you can purchase Dogecoin, you will need somewhere to store it. Dogecoin wallets are similar to Bitcoin wallets in that they hold your private keys and public addresses. These wallets can take many forms, including desktop, web, paper, hardware, and mobile.
Some popular Dogecoin wallets include:
Exodus: An all-in-one desktop wallet that supports a variety of cryptocurrencies, including Dogecoin.
Coinomi: A mobile wallet that supports multiple cryptocurrencies, including Dogecoin.
Dogecoin Core: The official full node desktop wallet for Dogecoin.
Paper wallets: These are Dogecoin addresses that you can print out and store offline.
Find a Dogecoin Exchange
Once you have a Dogecoin wallet, you’ll need to find a reputable exchange to buy DOGE. Some popular exchanges that offer Dogecoin include:
Binance: One of the largest cryptocurrency exchanges in the world that offers a variety of coins, including Dogecoin.
Kraken: A popular US-based cryptocurrency exchange that offers Dogecoin.
Poloniex: Another popular cryptocurrency exchange that supports a variety of coins, including Dogecoin.
Place an Order
Once you’ve found an exchange and created an account, you’ll need to place an order to purchase Dogecoin. The order types and parameters will vary depending on the exchange you’re using, but the general idea is the same.
You will need to specify the amount of Dogecoin you want to buy, as well as the price you’re willing to pay. Once you place your order, it will be matched with orders from other users who are also looking to buy or sell Dogecoin.
Withdraw Your Dogecoin
Once your order has been matched, your Dogecoin will be deposited into your exchange wallet. From there, you can withdraw your Dogecoin to your personal wallet.
Make sure to withdraw your Dogecoin to a personal wallet that you control the private keys for. Many exchanges allow you to control your private keys, but some do not. If an exchange holds your private keys, they have control over your Dogecoin and could potentially steal them.
Congratulations! You’ve now purchased Dogecoin.