Dogecoin was the first ‘meme coin’ to explode in 2021 and still maintains huge community backing in 2022 on social media – providing scope for further price surges in the future.
If you’re looking to invest in Dogecoin, this guide explains how to buy Dogecoin UK wise, reviewing the top trading platforms available and showing you how to purchase DOGE today step by step.
How to Buy Dogecoin UK – Quick Steps
1. Open an account with eToro: Visit eToro.com, click ‘Join Now’, enter your details.
2. Deposit: Fund your trading balance with at least $10.
3. Search for Dogecoin: Type ‘DOGE’ into the eToro search bar and click ‘Trade’.
4. Buy: Enter your investment size into the order box (minimum $10) and click ‘Open Trade’.
Where to Buy Dogecoin
Before you buy Dogecoin UK based investors will need to decide where to invest. To help with this, presented below are reviews of three best crypto exchanges to buy Dogecoin online today:
1. eToro – Overall Best Broker to Buy Dogecoin UK
If you’re wondering where to buy Dogecoin securely, eToro is FCA regulated. When it comes to crypto trading, eToro offers 50+ coins to invest in, including DOGE and many other altcoins.
When you buy crypto with eToro, fees incorporated into the spread, which applies when you buy or sell a cryptocurrency. The spread for DOGE is 2.9%, and you will gain full ownership of the crypto asset once purchased. This isin contrast to CFDs and means that you can transfer your DOGE holdings to an external wallet if you wish.
eToro accepts deposits via credit/debit card, bank transfer, and various e-wallets – including PayPal. Deposits can be made from only $10 (£7.39) and are free to make if you fund your account in USD; however, if you fund your account in any other currency, there will be a 0.5% conversion fee. Finally, eToro provides free crypto wallet app for all users, featuring an unlosable private key and multi-signature facilities to bolster security.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
2. Coinbase – User-Friendly App to Buy Dogecoin
If you’re looking for the best app to buy Dogecoin UK, Coinbase is worth considering. Coinbase has a stellar reputation within the trading scene and is authorised to operate in the UK by the FCA. Platform offers over 90 different cryptocurrencies to trade, with users able to choose between Coinbase or Coinbase Pro accounts – both have their own fee structure.
Coinbase users must pay a transaction fee and the spread, whilst Coinbase Pro utilises a maker/taker model. Coinbase’s mobile app is exceptionally user-friendly, with sleek interface, two-factor authentication, and a dedicated crypto-news feature.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
3. Binance – Best Place to Buy Dogecoin with Low Fees
Binance offers the cheapest way to buy Dogecoin, as the platform only charges a 0.1% transaction fee for placing crypto trade on the spot market. The platform also offers over 500 different crypto assets to trade, including altcoins, meme coins, ERC-20 tokens, DeFi tokens etc. Users can deposit into their trading balance for free using crypto or for a fee when using FIAT currency.
Alternatively, Binance offers an ‘Instant Buy’ service, allowing users to buy Dogecoin UK with credit/debit card – removing the need to make a deposit. However, this will come with a higher fee than other methods.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Ways of Buying Dogecoin
If you’re looking to buy Dogecoin UK, there are numerous ways to facilitate your investment. Let’s discuss two approaches:
Buying Dogecoin with PayPal
Many people look to buy Dogecoin with PayPal due to the platform’s user-friendliness and high level of safety. Unfortunately, PayPal doesn’t offer cryptocurrency investing within UK at present. However, many reputable brokers (such as eToro) accept PayPal deposits – meaning traders can fund their accounts via PayPal and use those funds to buy Dogecoin UK.
Buy Dogecoin with Credit Card or Debit Card
Many investors believe the best way to buy Dogecoin is via credit /debit card. This is quick and easy and involves depositing your trading account balance with your card. Alternatively, certain crypto exchanges even allow users to instantly buy cryptocurrency using card – requiring no deposit whatsoever.
Why Buy Dogecoin?
If you’re looking to buy Dogecoin UK right now, let’s discuss three main benefits of owning DOGE:
Strong Community Backing
Firstly, much of Dogecoin’s success has been tied to the incredible community backing that the coin has. The Dogecoin subreddit has over 2.3m members, while the digital currency is frequently mentioned on other popular subreddits. In addition, Dogecoin also tends to benefit when other meme coins (such as Shiba Inu) experience price increases. Due to this enormous support from retail traders, there’s always scope for DOGE to go on another bull run in the future.
Returns Potential
Tying into our previous point, you may wish to buy Dogecoin UK for the chance to generate market-beating returns. The DOGE price has risen over 30% in just two weeks – which is higher than the average annual return experienced by the FTSE 100! Due to Dogecoin’s token structure, small price movements can generate huge returns.
Method of Payment
Finally, cryptwerk.com notes that Dogecoin is now accepted as a payment method by over 1900 merchants. Furthermore, Tesla now accepts DOGE when people purchase merchandise.
Dogecoin Price
The DOGE price is currently hovering around $0.1625, following a 32% increase in the past two weeks. Although this is far below the coin’s all-time high of $0.7376 in May 2021, there are still plenty of reasons to be optimistic about Dogecoin. Notably, the price does seem to be respecting the support level noted on the price chart below, and DOGE now appears to be showing some bullish momentum. If the price can break the resistance level around $0.19, there’s certainly scope for an extended upsurge.
Dogecoin Price Prediction
If you’re wondering when to buy Dogecoin in the UK, there could be some viable opportunities soon. As above, the resistance level around $0.19 would be a good investment area if there is a clean break, which would be evidenced by a solid candle close on the 1H or 4H chart. Looking ahead, the next price target would likely be around $0.34, where the price rebounded from in August and October. If the price also broke this level, there may even be scope to return to May 2021’s all-time highs – which would represent a gain of 351% from today’s price.
How to Buy Dogecoin in UK – Tutorial
Finally, let’s discuss the process of how to buy Dogecoin stock from the comfort of your own home. We recommend making your DOGE investment with eToro, as platform is FCA-regulated and allows trades to be placed from only $10.
Step 1 – Sign Up for eToro
Go to the eToro website and click ‘Join Now’. Provide your email address and choose a username and a password.
Step 2 – Verification
Click ‘Complete Profile’ on your dashboard and complete KYC checks. Afterwards, upload proof of ID (passport or driver’s licence) and proof of address (bank statement or utility bill).
Step 3 – Fund your Account
Fund your account with at least $10 (£7.39) via credit/debit card, bank transfer, or e-wallet.
Step 4 – Buy Dogecoin UK
Type ‘DOGE’ into search bar and click ‘Trade’ when Dogecoin appears. Choose your investment amount (minimum $10) in order box and click ‘Open Trade’.
How to Buy Dogecoin UK – Conclusion
To summarise, this article has discussed everything you need to know before you buy Dogecoin UK, ensuring that you’re able to make informed and safe investment decision.
If you’re looking to buy DOGE today, we’d recommend partnering with eToro. eToro is regulated in the UK and offers tight spreads when trading DOGE. What’s more, you can fund your eToro account from only $10, with full support for PayPal deposits and withdrawals!
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection. Your capital is at risk. Additionally, 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Disclaimer
The above content is non-editorial, and TIL hereby disclaims any and all warranties, expressed or implied, relating to the same. TIL does not guarantee, vouch for or necessarily endorse any of the above content, nor is it responsible for them in any manner whatsoever. The article does not constitute investment advice. Please take all steps necessary to ascertain that any information and content provided is correct, updated and verified.
Disclaimer: Content Produced by CryptoPR