How to Buy Dogecoin on Coinbase
Users of the Coinbase crypto exchange have witnessed different types of coins gaining popularity over the years.
It all started with Bitcoin, but now, there are other cryptocurrencies that might be of your interest.
That’s one of the best things of the crypto world: your investment portfolio can be as varied as you want.
Today, we’ll talk about a very trending coin that runs on the Blockchain Technology: Dogecoin.
Before starting, keep in mind that we don’t offer brokerage services nor financial advice.
This blog post has been written by our editorial team for educational purposes only.
Keep on reading to get more information about:
- How to buy Dogecoin on Coinbase;
- Things you need to know about Dogecoin trading;
- Factors to consider before investing your money in Dogecoin.
Why Are People Buying Dogecoin?
Initially, Dogecoin’s main goal was to make fun of the people that decided to buy Bitcoin back in 2013.
At one point, no one believed that Dogecoin’s price could increase as it did.
Nowadays, this “meme coin” or “joke coin” is present in most trading platforms or crypto exchanges for people who want to buy crypto.
What’s more, in June 2021 Coinbase decided to add Dogecoin, allowing people to get instant access to this crypto and other particular stocks.
Is not a secret thet Elon Musk was one of the people that promoted others to buy DOGE from a cryptocurrency exchange, which led the coin to become a must-have asset in the crypto market.
Pro Tip: Coinbase and Coinbase Wallet allow you to check your past performance, purchase crypto, and store your private keys safely.
Nonetheless, having your assets in a software wallet might be dangerous, which is why some users recommend getting a physical device (hardware wallet that only you can check) instead.
How to Buy Dogecoin on Coinbase
You can officially check the Dogecoin price and the token’s market cap from the Coinbase Website.
People often sign up for Coinbase because trading, investing, and managing their money in the app is usually elementary.
Nonetheless, we cannot stress this enough - do your own research before trading on any exchange.
Altcoins, such as Doge, often represent a high risk.
Beware of it!
Read Also: You can use Coinbase for much more than just purchasing DOGE.
Learn the basics and how-to’s of this platform by reading our Coinbase Guide - you’ll love it!
Step 1: Login and Verify Your Coinbase Account
Creating an account on the Coinbase exchange is effortless.
You just need to go to the main website or download the app, and you’ll be able to see, manage, and check cryptos quickly.
But once you want to start investing, you’ll need to complete Coinbase KYC Verification.
Coinbase is a centralized crypto platform, so this is a must in order to use your account without limitations.
Step 2: Add a Payment Method to Coinbase
Once you have verified your account, you now have to verify your preferred payment method.
You can pay with your debit card, credit card, wire transfer from your bank account, and more.
Look for the option to add a payment method and follow on-screen instructions to do so.
Step 3: Add Funds to Your Coinbase Account with Fiat Currency
You won’t be able to buy any kind of crypto without having money on your account!
Of course, you could simply add a card for payments, but the verification of the funds will still be required.
Fortunately, we have written a complete guide about how to Add Money to Coinbase.
Adding USD, EUR, or other fiat currencies, will then allow you to trade them for Dogecoin or your favorite cryptos.
Step 4: Look for the Option to Purchase Dogecoin
Once you have successfully completed the required processes, you can now buy Dogecoin.
Select the “Buy/Sell” option on Coinbase and look for Dogecoin.
Alternatively, you can directly buy the Coinbase token by clicking here.
Set the amount of Dogecoin you want to buy and complete the operation.
Remember that you need to pay some additional network fees to the platform before proceeding.
Step 5: Purchase DOGE!
Hit that confirmation button, and there you go - you have just purchased Dogecoin! Elementary, isn’t it?
The fees will vary depending on many factors, so be sure to check the current status of the market before investing your money in any kind of cryptocurrency.
Hold, Trade, or Sell Dogecoin
So, you have purchased Dogecoin, now what? Well, some people just like to hold the coin until its value increases so they can make a good profit in the short or long term.
Others prefer to trade Dogecoin for other assets in order to improve their portfolio.
Trading Dogecoin is a widespread activity, and you can perform all the trading operations you want inside Coinbase’s platform without major problems.
The decision is yours - wait for Dogecoin price to reach the moon, or sell it right away!
That’s all you need to know for today.
Using Coinbase is very easy, and we make it easier here at GrowFollowing.
For more Coinbase-related content, make sure to check our blog post constantly.
Buying Dogecoin on Coinbase FAQ
Can I Buy Dogecoin in other Cryptocurrency Exchanges?
Yes, you can! Crypto.com and Binance also offer the possibility to purchase this coin on their platforms.
There might be higher fees or lower fees depending on the current state of the cryptocurrency market.
Sometimes, it’s not easy to choose only one exchange for buying or trading purposes.
That’s why we have written this guide about Binance vs. Coinbase, so go and check it out!
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.