Cryptocurrencies have gained mindblowing popularity in the last few years due to the giant whales investing in this emerging industry. Dogecoin, started as a joke in 2013 by Billy Markus and Jackson Palmer (Both software engineers), is no exception to this fast-growing digital currency era.
Dogecoin has become one of the top digital currencies, enticing crypto investors to grab this crypto gem. You’ve reached a great resource if you plan to buy Dogecoin on eToro. eToro is a trusted and user-friendly platform that allows buying, selling, and trading various digital assets (cryptocurrencies) including DOGE.
The Basics of Buying Dogecoin on eToro Made Simple
Dogecoin, a decentralized cryptocurrency, was created as a carefree alternative to Bitcoin. Dogecoin works on a peer-to-peer (P2P) marketplace, employing blockchain technology to ensure security and better tracking of transactions.
Making up as a friendly appeal and charm, Dogecoin quickly gained popularity, and its logo features the Shiba Inu dog from the “Doge” meme, which adds to its funny start.
eToro, a user-friendly crypto trading platform, has been a trusted trading network for a long time. It allows its users to follow successful traders. To explore this marketplace, its users are provided with real-time market trends, technical analysis tools, and customizable data charts, along with a user-friendly interface.
eToro offers two types of orders: market orders and limit orders. With a market order, you buy Dogecoin at the current market rates, while with a limit order, you set a specific buying price for your trade on eToro.
Advanced features like setting up alerts for price changes help newcomers a lot. Overall, eToro offers a handy and the best user experience for both beginners and pros in Dogecoin trading.
Guide on “How to Buy Dogecoin on eToro”
As you are very familiar with Dogecoin and eToro, now it’s time to go through the real trading steps to buy Dogecoin on eToro. Follow the detailed guide on how to make a purchase of Dogecoin on eToro:
- Signing up for an eToro account: You must sign up for an eToro account first. The registration process is completed within a few minutes. Visit the eToro official website, hit the button “Join Now,” and fill out the form with your username (name), email address, and password. Good luck; the registration is done.
- Complete your eToro profile: After registration, you’ll need to provide some additional details needed to complete your profile. It includes a user’s personal information, financial status, and experience in crypto trading. The process might bother you, or you may think it as covering an extra mile. Still, it helps eToro to comply with regulatory requirements essential to certify the safety of your investments. eToro keeps its users’ privacy and security confidential. Don’t worry!
- Verify your identity: For fool-proof security, you must verify your identity on eToro; this procedure helps to protect you against any fraudulent tactics in the cryptocurrency industry. You must submit a valid identification document such as a passport or a driver’s license and proof of your address. Later, the eToro’s team of experts will review and confirm you as an identified user.
- Deposit funds into your account: Once you become a verified user, you can make funds into your eToro account using credit/debit cards, bank transfers, and e-wallets. The choice is up to you; however, follow the guidelines to transfer funds to your eToro account. There is a minimum deposit limit (requirement), so first check out that requirement imposed by eToro for a seamless deposit to your account.
- Search for Dogecoin: After receiving funds, you can trade on eToro. Search and filter the Dogecoins on the eToro platform for a wide range of cryptocurrencies. You will encounter Dogecoin trading pairs and their current market prices, so choose the desired pair to invest in the cryptocurrency you want.
- Place an order: Once you finalize the Dogecoin trading pair, place your order from the two types, namely market orders and limit orders (offered by eToro). Your trading strategy can make or break you, so choose the order type that smartly suits your investment plan and goals.
- Monitoring and managing your capital: Once you’ve placed an order, monitoring and managing your DOGE investment should be your top priority. Keeping a strong eye on crypto market trends is essential, as this industry is notoriously famous for its volatility. Here is another solution: eToro offers tools such as stop-loss and take-profit orders to help you better manage the risk of potential losses. So, diversify your crypto portfolio for enhanced stability.
Congrats, together we sailed through a blazing desert. If you still need an oversimplified version of the step-by-step buying guide of Dogecoins on eToro, check out the following section.
Buying Dogecoin on eToro [More Simplified]
To buy Dogecoin on eToro is simple. Rather, the process is as straightforward as cutting a cake:
- Search desired offer: Search and locate the desired Dogecoin asset on the platform(eToro)
- Make a trade: Once decided, hit the “Trade” button on your screen.
- Complete investing: Invest the desired amount you wish to invest in Dogecoin.
- Press execute: Confirm and proceed with the trade execution.
I hope this way, it will be convenient to invest in buying Dogecoin on eToro.
FAQs
How do I Buy Dogecoin on eToro?
Trading Dogecoin on eToro is made easy with this detailed guide. First, understand the process and follow the step-by-step buying guide to purchase DOGE on eToro (a user-friendly platform).
What are the Fees subjected to Buying and Selling Dogecoin on eToro?
eToro’s Dogecoin transaction fee is only 1% of the total trade or funds. This 1% fee is the same for both the buyer and seller of DOGE.
Can I Withdraw my Dogecoin from eToro?
Yes, the process of withdrawing the Dogecoin from eToro has been made easy. After you close the positions, press the convert to fiat button and have your withdrawal completed smoothly.
