How To Buy Dogecoin: Easy 5 Steps Guide

Dogecoin (DOGE) was launched as a crypto parody, but nobody is laughing now. Its success has left many people puzzled. If you're interested in buying, selling, or trading DOGE, Binance is one of the most trusted exchanges. In this post, we'll walk you through a step-by-step process on how to buy Dogecoin on Binance.

Where To Buy Dogecoin?

Some of the most popular exchanges to buy DOGE include Binance, Coinbase, KuCoin, and Kraken. When choosing an exchange to purchase DOGE, it's essential to consider factors such as fees, security, user interface, and supported payment methods. It's also important to note that some exchanges may only be available in some countries or regions.

Step-By-Step Guide On How To Buy Dogecoin:

Follow the below steps to buy Dogecoin using the Binance exchange.

Step 1: Register for a Binance account

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The first step is to register for a Binance account; if you already have a Binance account, you can skip this step.

To register, visit the Binance website and click on the "Register" button at the top right-hand corner of the page. You will then be prompted to enter your email address and create a password. You can also use the main sign-up with an email or phone option.

After completing this step, you will receive an email confirmation from Binance.

Create an account using your personal phone number or email address on Binance. Registering as an entity if you want to buy Dogecoin as a Limited company business on the Binance exchange is also an option.

Step 2: Verify your identity on Binance

Before you can buy DOGE on Binance, you will need to verify your identity. To do this, click the "Profile" button on the top right-hand corner of the page and select "Identity Verification."

Follow the instructions provided by Binance to complete the verification process.

To complete your Binance registration process and start buying crypto on the Binance platform, you must submit a valid government-issued passport or Driving license based on your country of residence.

Step 3: Buy DOGE

There are numerous ways to buy Dogecoin on the Binance exchange, and it all comes down to your preference. We will explore some popular methods to buy Dogecoin on Binance.

Option 1: Fund your Binance account with crypto

This method is helpful for anyone who owns crypto on other platforms or wallets. Once you have transferred your Bitcoin to a Binance account, you can buy Dogecoin with Bitcoin as Binance supports trading BTC/DOGE pair.

After verifying your identity, you can fund your Binance account with crypto. To do this, click the "Deposit" button on the top right-hand corner of the page. You will then be prompted to select the cryptocurrency you want to deposit. Select the cryptocurrency you wish to deposit and follow the instructions provided by Binance. Once your cryptocurrency has been deposited, you can proceed to buy DOGE.

On the deposit Crypto page, choose the crypto (in this case, we selected bitcoin) and its network. Binance will generate a bitcoin address to deposit your BTC. Copy the deposit address and initiate a withdrawal on the withdrawal platform. Once the transaction is confirmed, Binance will credit the crypto.

Convert Bitcoin Crypto to Dogecoin (DOGE)

After transferring your crypto Binance account, hover over the Trade menu at the top menubar and click on Binance Convert, where you can convert your crypto to DOGE.

There are two ways to convert your crypto to DOGE: Market order or Limit order.

Buying DOGE with market order: Market order allows you to convert your assets at the current market price based on the quoted price in the conversion.

Buying DOGE with limit order: A limit order allows you to place an order to convert your assets at a specified limit price. However, limit orders are executed subject to market conditions and may not be completed even if the market price reaches or crosses your limit price momentarily.

The above screenshot shows an example of placing a limit order to buy Dogecoin using BNB. You can click on the bars icon next to the limit button to display the price chart of your selected crypto convert pair. Click on Confirm order to get 900 DOGE tokens into your account.

Congrats! You have now bought Dogecoin by funding your Binance account with crypto and using Binance Convert.

Option 2: Fund your Binance account with Fiat

This option will benefit you if you prefer to fund your account with your preferred fiat currency beforehand. Customers can fund their Binance account with fiat currency via direct bank transfer or credit/debit card.

When using the Bank transfer method to fund your account, make sure to follow the below tips:

Your bank account name must match the name registered to your Binance account.

Please include your full name in your bank transfer's Reference/Remark section.

If the deposited amount exceeds your daily limit, Binance will divide the total payment based on your maximum daily limit.

After funding the account with fiat currency, it will be stored as your cash balance on the Binance account. Using the deposited fiat currency, you can now buy crypto using the buy crypto with Cash Balance tool.

As shown above, buy Dogecoin immediately with your preferred fiat currency! You will get an estimated price of DOGE based on the currency of choice, and you enter the desired amount of DOGE to buy and confirm the order.

Congrats! You have now bought DOGE by funding your Binance account with fiat currency and using a Binance Cash balance.

Option 3: Buy Dogecoin with a Credit/Debit Card (Popular method to buy Dogecoin)

To buy DOGE on Binance using a Credit or Debit card, navigate to the Buy crypto via card page using the top navigation menu.

On the buy crypto with card page, you will see various options to choose the fiat currency to buy Dogecoin. Enter the desired amount of DOGE tokens to purchase and click Continue.

In the payment method section, if you just created your Binance account, add the card details you will use to purchase DOGE.

Once you have entered the card details, you must review the order details to ensure they are correct. If everything looks good, click the "Buy DOGE" button to complete the purchase.

Congrats! You have now bought DOGE by funding with your Credit/Debit card!

Recurring Plan

Alternatively, you have the choice to buy Dogecoin on a recurring basis.

The recurring model typically allows you to regularly invest in cryptocurrency with a pre-determined amount and accumulate your crypto holdings over time. If you are committed to the long-term growth of a coin/token and bullish on its future price movements, it is an excellent way to DCA into the project.

Step 4: Buy Dogecoin - Payment Methods

Buy Dogecoin with Paypal: Binance does not currently support purchasing Dogecoin (DOGE) directly with PayPal. However, you can still use PayPal to buy cryptocurrencies on other platforms and transfer those funds to your Binance account to purchase Dogecoin. Other exchanges, such as Coinbase support Paypal payment methods to buy crypto. If you have an existing PayPal account, you can start transactions on Coinbase immediately.

Buy Dogecoin with a credit card on Binance exchange: To Add a credit card, Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card." Follow the prompts to add your credit card details.

Buy Dogecoin with Debit Card: To Add a debit card: Go to the "Buy Crypto" page on Binance and select "Credit/Debit Card." Follow the prompts to add your debit card details.

How to Buy Dogecoin with Apple Pay and Google Pay on Binance

The following steps will guide you through how to buy Dogecoin using Apple Pay & Google Pay.

1. Log in to your Binance account and click Buy Crypto with Credit/Debit Card.

2. Select the fiat currency according to your country and then select Dogecoin crypto to buy from the list. Enter the amount and click Continue.

3. Select Apple Pay or Google Pay as the payment method after choosing DOGE to Buy.

4. Once you have successfully added/chosen your credit/debit card, click Confirm to proceed. Check the payment details carefully and confirm your order within 1 minute, or else after the 1-minute mark, the price and the amount of crypto will be recalculated. You can click Refresh to see the latest market price.

Congrats! You have now bought Dogecoin on Binance using your preferred Google or Apple pay.

Step 5: Withdraw DOGE from Binance

After buying DOGE on Binance, withdraw it to a hard or soft wallet you control. To do this, click the "Withdraw" button on the top right-hand corner of the page. You will then be prompted to enter the wallet address to which you want to withdraw your DOGE. Ensure you enter the correct address, as transactions on the blockchain are irreversible.

You must also enter the amount of DOGE you want to withdraw. Once you have entered the correct wallet address and the amount of DOGE you wish to withdraw, click on the "Submit" button. Binance will then process your withdrawal request, and your DOGE will be sent to the wallet address you provided.

Tips for buying DOGE on Binance

1. Always double-check your order details before placing a trade to ensure everything is correct.
2. Consider using the "Limit" order type instead of the "Market" one when buying DOGE. With a limit order, you can set the price you are willing to pay for DOGE, whereas, with a market order, you will pay the current market price for DOGE, which may not be the best price.
3. Consider using two-factor authentication (2FA) to enhance security after registration.

10 Reasons To Buy Dogecoin Right Now

Should I buy Dogecoin? If you are considering whether you should buy Dogecoin or not, then the below points may provide some clarity about the project.

1. Popularity: Dogecoin, whether being taken as a joke or a serious investment, plays a significant role among investors and cryptocurrency enthusiasts. It has prompted us to question our fundamental principles, as whoever controls the meme ultimately controls the world.
2. Low transaction fees: Transactions in Dogecoin are generally cheap compared to other cryptocurrencies.
3. High liquidity: Dogecoin has a high level of liquidity, which means it's easy to buy and sell on various cryptocurrency exchanges.
4. Growth potential: While no one can predict the future of any cryptocurrency, some investors believe that Dogecoin has the potential for significant growth in value.
5. Social media buzz: The team behind Dogecoin has done a great job in promoting it across social media platforms. It helps raise awareness and drive interest in cryptocurrency.
6. Meme culture: Dogecoin has a unique culture and community that sets it apart from other cryptocurrencies. Many people find the memes and humor associated with Dogecoin entertaining.
7. Decentralization: Like other cryptocurrencies, Dogecoin is decentralized, which means any central authority, like a government or bank, does not control it.
8. Fast transaction: Dogecoin transactions are processed more quickly than Bitcoin transactions, which can take several minutes or longer to complete.
9. Low barriers to entry: It's easy to purchase Dogecoin, and many cryptocurrency exchanges allow users to buy it with fiat currency like US dollars.
10. Potential for mass adoption: Some investors and leading figures such as Elon Musk believe that Dogecoin's unique culture and low transaction fees could make it a popular choice for everyday transactions, leading to wider adoption and potential growth in value.