Unlike other exchanges, you can easily buy Dogecoin on eToro, and perhaps this is the reason why people like eToro. While other crypto exchanges offer a ton of features, eToro provides only those features that are needed so that users can easily buy Dogecoin. If you already have an eToro account, you can buy Dogecoin on eToro in just two steps. If you don’t have an eToro account, it will take you a maximum of 5 steps to buy Dogecoin on eToro. But how? Let’s see.
Dogecoin is a meme-based cryptocurrency created by some engineers in 2013. Despite its humorous origins, Dogecoin has evolved into a legitimate and widely traded digital asset. Key features of Dogecoin include:
Dogecoin has no maximum supply limit.
Dogecoin transactions typically have low fees.
Dogecoin has high-speed transaction confirmation times.
What is eToro?
eToro is a prominent online trading platform that provides users with the opportunity to invest in various financial instruments, including stocks, cryptocurrencies, commodities, and more. Founded in 2007, eToro has gained popularity for its user-friendly interface and innovative social trading features.
Step-by-Step Guide How to Buy Dogecoin on eToro
Create an eToro Account: Start by creating an account on the eToro platform. Provide the necessary details and ensure a secure login process. You can use a web or mobile wallet to buy Dogecoin on eToro. Since you will have to add money to your eToro wallet, it is better to use a mobile wallet.
Verify your identity.
eToro adheres to strict security measures. Complete the identity verification process to safeguard your account, and it is also mandatory if you want to buy Dogecoin on eToro. It will take 3 days to verify your eToro account.
To verify your account, you are required to upload both a proof of identity and a proof of address. Proof of identity can be any government ID, such as a passport or driving license. And your proof of address can be any ID, such as a bank statement, credit card statement, or any bill. Here, read the full procedure.
You can deposit USD, GBP, EUR, and AUD via different payment methods. Fiat currency varies and depends on which payment methods you are using. You can deposit extra money to keep your wallet funded, so whenever you need to buy Dogecoin on eToro, you can do that instantly without waiting for funds to arrive.
Remember, only users from a few countries will get the features to buy Dogecoin on eToro, but you can still buy Dogecoin if you already have crypto in another wallet; you just have to deposit on eToro.
You can skip this step, but eventually you have to do that when you place the buy order.
Search for Dogecoin (DOGE).
Navigate to the cryptocurrency section on eToro and locate Dogecoin (DOGE) from the list of available options. Make sure you select the right coin here. You can also buy other coins if you want, such as BTC or ETH.
Buy Dogecoin on eToro.
Enter the amount you wish to invest and execute your purchase. eToro’s user-friendly interface ensures a hassle-free transaction. You can choose a limit or market price for whatever you want to buy Dogecoin on eToro.
If you have skipped the third step or have not deposited funds yet, then you have to do that here. So it’s better to deposit funds before buying Dogecoin on eToro for smoother transactions.
Store it in a safe place.
You can keep track of your Dogecoin investment through the eToro platform. But we will suggest you withdraw your Dogecoin and store it in a secure wallet if you are investing for the long term. A multi-crypto wallet is the best way to store Dogecoin.
While other crypto platforms are trying to get a license, eToro already has a license and is also registered in two tiers. Different payment methods to buy Dogecoin are probably more available on eToro than on any other crypto platform. eToro prioritizes a clean and intuitive layout, making it easy for both seasoned users and newcomers to navigate effortlessly.
With eToro’s social trading feature, users can follow and copy the trades of successful investors, allowing them to potentially benefit from their expertise. This can be helpful for new traders who may not have experience in the crypto market.
Why not buy Dogecoin on eToro?
The interface for eToro is quite simple. If you know a little about trading or want to do market research on any coin, then you can do it on some other platform. Apart from this, this platform for buying Dogecoin is not regulated in all countries. Before buying Dogecoin, you have to deposit in it, which is risky if any kind of error occurs or KYC verification fails. Also, KYC verification may take one to two weeks.
Why invest in Dogecoin?
Dogecoin is one of the top ten cryptos in the world, and Dogecoin has the largest community in the Memecoin community. Currently, its price is around $0.07, but it is expected to go to $1, and we have seen this before as well.
Buying Dogecoin on eToro is not very difficult, but caution is necessary. As we mentioned earlier, do not deposit any kind of fund without completing KYC verification. Before creating an account, make sure to check what features you are getting as per your location.
Features of buying Dogecoin from crypto are available to users in almost all locations. But if you are trying to buy Dogecoin on eToro for the first time, then it could be difficult for you because this feature is only available for American, Australian, and EU users.