Dogecoin is a digital currency used to send money worldwide, secure and censorship-resistant. If you want to invest in Dogecoin, make sure you do it through a reputable platform.
Here in this guide, we explain in detail how to invest in Dogecoin and go over the best brokers in the industry, how to sign up, and why DOGE coins are so popular among US investors.
Choosing a Broker to Invest in Dogecoin
Because cryptocurrencies are dangerous and unpredictable, you’d best believe you’ll need a trustworthy broker on your side if you want to invest in Dogecoin. Here’s a quick rundown of the best Dogecoin investment options in the United States:
- eToro is one of the best and safest platforms to invest in Dogecoin in the United States.
- Coinbase -Beginner’s Guide to Investing in Dogecoin
- Binance is the best platform to invest in Dogecoin if you want to diversify your portfolio.
- Robinhood – A Regulated Mobile App for Investing in Dogecoin
- Webull – Dogecoin Investing Starting at $1
Later in this beginner’s guide, we detail each Dogecoin broker mentioned earlier in the united states.
A Quick Guide to Investing in Dogecoin in 2022
Below is a step-by-step guide to investing in Dogecoin in the United States in under five minutes. We’ll guide you on using eToro, a FINRA and SEC-approved broker with outstanding fees.
Step 1: Create an eToro account – Locate the ‘Join’ Now button and fill out the form with personal and contact details. You’ll also provide a username and password.
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78% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.
CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Step 2: Upload Your ID — Because eToro is regulated, you must undergo a KYC process before finalizing your profile and making withdrawals. It is a straightforward process. Begin by submitting a copy of your government ID. A passport or a driver’s license are examples of acceptable identification.
Step 3: Deposit Funds — At eToro, the minimum deposit is only $50, and there is no transaction fee for US consumers.
Step 4: Final step is to invest in Dogecoin — you may use the search bar to look for Dogecoin and then click ‘Trade’ once you’ve found it. To confirm everything, enter the amount you want to invest and click ‘Open Trade.’ Please keep in mind that eToro allows you to invest as little as $25, making it suited for investors of all sizes.
Also, while investing in Dogecoin in the United States, you must consider where you will keep your funds. This broker alleviates that concern by storing your digital currencies within the website, making cashing out easier later.
Detailed Broker Reviews – Where to Purchase Dogecoin
DOGE tokens are now available from more brokers and investors than ever before. It can make locating the best brokerage site much more difficult. Continue reading to get more insight about the safest places to invest in Dogecoin in the United States.
- eToro
eToro, a social trading platform established in 2007, with over 20 million client accounts. It is the best site to invest in Dogecoin in the United States out of all our reviewed providers. The website is quite simple to navigate, making it suitable for novice and experienced investors. There should be no concerns regarding the security of your digital tokens because this broker is FINRA and SEC approved in the United States.
This broker will ask you to undergo a KYC process because it is regulated. In a nutshell, you must upload a photo or scan of your photo ID as well as a document proving your address. It allows the eToro staff to verify the information you provide when you sign up. It normally only takes a few minutes. There are a few payment methods that are accepted here. You can credit your account as a US client with a debit card or a bank transfer.
To get started, eToro requires a $50 minimum deposit. In addition, there are no fees to pay, which is something that crypto suppliers in the United States rarely do. This broker also lets users invest in Dogecoin for as little as $25, making it considerably easier to build a steady portfolio. Cyber hackers are prone to stealing assets that do not belong to them in the bitcoin field in terms of security. The DOGE coins will appear in your account portfolio once you have placed a buy order at eToro. You can keep them on the site for free in a secure and regulated environment.
Because this is a spread-only broker, you’ll just have to pay the difference between the bid and ask prices. Also, the price starts at just 0.75 percent to purchase digital tokens, which is quite low. Most Dogecoin investors prefer to invest in a variety of cryptocurrencies. This platform satisfies that need by providing 30 options. Cardano, Bitcoin, Litecoin, Ethereum, and Ethereum Classic were among the coins we discovered. You can also diversify your portfolio without actively using the CopyPortfolio tool. It gives you access to a wide portfolio of cryptocurrencies managed and rebalanced by the eToro team.
If you’re interested in passively investing in Dogecoin, eToro’s Copy Trader is a must-see. It enables you to invest in a skilled trader based on criteria such as preferred market, risk tolerance, and historical performance. So, how does it function? Let’s imagine you give JoeBlogs123 $1,000, and he decides to invest 6% of his available funds in DOGE tokens. You’ll end up with $60 in the same asset. You will be able to buy or sell everything they buy or sell without performing any efforts!
Pros
- Invest in cryptocurrencies only based on the spread.
- Each trade requires at least a deposit of $25.
- Accepts debit/credit cards, online banking, and local bank transfers
- The FCA, CySEC, and ASIC govern the firm, registered with FINRA/SEC.
- There is a $50 minimum deposit and no transaction fees for US citizens.
- Over 20 million individuals use it.
- Beginners-friendly.
- Social and copy trading is available.
Cons
- For advanced traders, it is too basic.
- There is no MT4 or MT5 support.
- Webull
If you want to invest in Dogecoin and start with a small amount, Webull is the place to go. This provider offers DOGE tokens for as little as $1 with no commission. FINRA and the SEC regulate this broker. The company also offers a free app with a variety of customization options. Additionally, you can enable the two-step security feature by selecting the settings tab for an added layer of security.
As we mentioned in our Robinhood review, it’s critical to understand what kind of spread you’ll pay when a broker charges 0% commission. According to the above recommendation, the minimum spread for buying cryptocurrency is 1%. It is more expensive than our favorite place to invest in Dogecoin, eToro. It is because eToro’s crypto spreads start at just 0.75 percent.
Yet another broker does not permit you to invest in Dogecoin in the United States using a credit/debit card or an e-wallet. You can deposit money for free through an ACH transfer, but there is a daily maximum of $50,000 per account. You can also use a wire transfer, but be aware that this incurs an $8 fee. You will pay a $25 withdrawal fee if you use this method to cash out. The primary Webull platform has several features, including sketching tools, multiple chart formats, 50 technical indicators, and more.
Pros
- it is an easy-to-use trading app for iOS and Android devices.
- All assets are subject to a zero percent commission policy.
- There is no minimum deposit.
- Fee-free ACH deposits and withdrawals
- Investing starts at $1 in the United States.
Cons
- Spreads on cryptocurrencies begin at 1%.
- It’s too simple for experienced traders.
- It doesn’t support E-wallets and debit/credit cards.
- Coinbase
Coinbase is one of the trending cryptocurrency exchanges in the United States, with over 73 million verified users. Thanks to the user-friendly design, beginners will appreciate how easy it is to invest in Dogecoin. This broker takes security seriously, as 98 percent of all digital currencies are stored offline. To prevent unauthorized access to your investments, you must set up two-factor authentication in addition to your usual login and password. You can use an SMS, but the platform suggests Google Authenticator or Duo, both of which you can download from the appropriate app store.
Additionally, you can keep funds in US dollars at FDIC-insured bank accounts. There are a few different ways to fund your account to invest in Dogecoin, each with its own set of fees. For example, if you use the Instant Buy tool to make a debit card deposit, you will be charged a 3.99 percent transaction fee. It isn’t a particularly competitive market, and you’ll also have to go through the KYC process. At Coinbase, the normal charge for buying and selling DOGE tokens is 1.49 percent, implying that a $1,000 investment would cost you $14.90. It’s worth noting that you’ll pay more if you set aside less than $200.
You may use the free app to invest in Dogecoin and monitor the performance of your portfolio while on the go. It is also where you may keep, trade, and sell your DOGE tokens. Bitcoin, Ethereum, Litecoin, Compound, Yearnfinance, and various other blockchain assets are among the other cryptocurrencies offered on this platform. It means you can easily diversify later by adding new crypto assets to your portfolio. If you put your digital cash on the main platform, you won’t have to worry about your private keys or protecting your investment from hackers.
Coinbase makes investing in cryptocurrency simple for newbies. Coinbase makes entering the cryptocurrency market simple and accessible by providing a user-friendly platform and beginner-focused education.
Coinbase Pro provides advanced features and options for experienced investors, allowing you to have more control over your investment portfolio. Whether you’re just starting as a beginner or a professional, Coinbase has something for everyone interested in digital assets.
Pros
- One of the most well-known crypto exchanges
- There are roughly 73 million verified users.
- Instant purchase available with a debit card.
- There are many different digital currencies available.
Cons
- Deposits made with a debit card are pricey, costing 3.99 percent.
- You will pay a 1.49 percent commission for regular trade.
- Binance
Binance is the world’s largest cryptocurrency exchange by trading volume. This exchange currently has a separate site for US clients, serving over 100 million people globally. In the United States, the latter follows all applicable rules and regulations. It should give you confidence that the broker can adhere to the rules and protect investors. And there are far more than 50 cryptocurrencies to buy and sell here; this is the greatest site to invest in Dogecoin for asset diversification. Bitcoin, Ethereum, Cardano, Solana, Chainlink, Binance Coin, etc.
Binance US allows you to fund your account with a debit card. Instant Buy/Sell charge is 0.5 percent, and you must first complete the KYC process. For spot trades, however, the general commission price is 0.10 percent. It means that if you order $100, you will only pay $0.10. You can pay all fees on the site with BNB tokens if you exchange some Dogecoin or add Binance Coin to your portfolio. You will receive a 25% commission reduction as a result of this. You must manually enable the “Using BNB to pay for fees” feature to opt-in. To qualify, you must have enough Binance Coin to cover your fees.
You may use this platform to do more than make market orders. Also, you can place a limit order, which allows you to specify an exact price you want to enter the market. Check out the Recurring Buy function if you want to invest in Dogecoin in the United States slowly and steadily. It allows you to execute dollar-cost averaging without manually placing orders regularly. Investors use this systematic approach for lower risk exposure. Binance US has a user-friendly interface with graphing tools, trading histories, real-time order books, and other features.
Pros
- Allows for daily trade volume of billions of dollars
- It is compatible with hundreds of digital asset pairs.
- Instant deposits are available using a debit or credit card.
- The initial trading commission is 0.1 percent per slide.
- Cryptocurrency savings accounts are available.
- It’s perfect for both beginners and seasoned traders.
Cons
- You can’t buy all supported cryptocurrencies using a debit or credit card.
- E-wallet deposits or withdrawals are unavailable on the platform.
- Robinhood
Robinhood is a popular stockbroker with millions of customers. It’s also one of the finest sites to buy Dogecoin in the United States for those who prefer the ease of a mobile app when purchasing cryptocurrency. The platform supports fractional investments in Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. This broker has crime insurance to protect your funds in terms of security. However, To safeguard you from cybersecurity breaches, the platform keeps the vast majority of cryptocurrencies in cold storage.
Despite having fewer cryptocurrency markets than the other brokers on our list, Robinhood’s CEO has indicated publicly that the company aims to increase its offerings. On digital assets, this service likewise charges 0% commission. With that in mind, while looking to buy in Dogecoin online, keep an eye on the all-important spread, as this is frequently where commission-free platforms make their money. Outside of typical market hours, the margin between the bid and ask can widen, so check how competitive this is before joining up.
Are you interested in learning the process of investing in Dogecoin in the United States but need a card to fund your account? There are only two fiat deposit methods here: ACH or bank wire. Robinhood will give you a basic account with a $1,000 quick deposit limit. If you choose the Gold option, you’ll receive the first $5,000 right away, but only if your portfolio is less than $10,000. It may take up to 5 business days to clear anything beyond your specified limit. If you honestly believe your portfolio will be worth more than $10,000, visit the website for more restrictions.
Pros
- In the United States, this broker is extremely popular.
- It
- provides cryptocurrency, stocks, and mutual funds
- .
- Strictly regulated
Cons
- The spread is frequently large.
- When depositing funds, only the first $1,000 is credited immediately (basic account)
- A small number of cryptocurrencies are available.
- Coinmama
If you’re looking to purchase or sell Dogecoin, you’ve come to the right place. Your best bet is Coinmama! Coinmama makes it simple to purchase and trade Dogecoin, Bitcoin, Ethereum, and other cryptocurrencies. Furthermore, the user-friendly site of Coinmama makes it simple for newcomers to get started. So, what do you have to lose? Start trading right now!
Coinmama never saves customer funds or payment details, ensuring that your coins are always secure and protected. By using a trustworthy third-party wallet of your choice with Coinmama, you can take complete control of your cryptocurrency assets.
When buying cryptocurrencies, Coinmama offers attractive rates based on the market rate of TradeBlock’s XBX Index plus 2%, plus a commission fee of up to 3.81 percent and up to 0.9 percent when selling bitcoin. Coinmama has you covered, whether you’re new to the world of cryptocurrency or a seasoned pro.
The Coinmama Loyalty Program allows you to save money on every purchase you make! You save money on commission fees the more you buy or sell with Coinmama. Coinmama’s three levels of savings provide you with even more ways to save on your purchases. Coinmama’s registration is automatic, so there’s no need to register – just start buying and selling digital currency and save money! Are you ready to begin saving? Become a member of the Coinmama Loyalty Program today!
Dogecoin is one of the most widely used cryptocurrencies, and with good reason! It’s quick, simple to use, and a lot of fun. You can buy Dogecoin fast and easily with Coinmama with your credit card or bank transfer. So, what do you have to lose? Get started right away!
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Pros
- There is no fee for depositing or withdrawing cryptocurrency.
- There are numerous payment options available.
- Within minutes, you’ll get confirmation.
Cons
- Fees are higher than those charged by some of our competitors.
- There is no iOS app available.
How to Invest in Dogecoin – Step-by-Step Instructions
This section of our advice will be very useful if you have previously invested in cryptocurrency. That is to say; if you are a total beginner learning how to invest in Dogecoin, you will find a full five-step instruction below to get you started.
For example, we’ll use eToro, the most popular place to acquire Dogecoin in the United States. This broker is FINRA and SEC-approved, it’s extremely user-friendly, and you can start investing in Dogecoin for as little as $25 on a spread-only basis.
- Create a Dogecoin Investment Account first.
To begin, visit the eToro website and search for the sign-up option. Fill in the complete details you want to use to log in to your account when the box displays.
Also, You’ll need to provide your address, date of birth, nationality, and social security number before confirming your email and phone number.
- Add your ID.
As previously said, eToro will need to double-check the information you supplied in step one. You can submit some documentation at this point.
You can provide a clear scan or photo of your government-issued ID, such as a passport, to the broker as proof of ID documentation.
eToro recognizes a variety of forms of proof of address documentation. It might be anything from a recent power bill to a tax letter to a bank statement.
eToro will use automated technology to verify your identity and address. It means you should be able to verify your account in minutes and move on to the next phase of investing your Dogecoin in the US.
- Make a deposit
As we indicated in our previous review, eToro accepts various alternative deposit options. The quickest and most convenient solution is the credit and debit cards issued in the United States.
You can also fund your account through eToro using a bank transfer or internet banking. However, because this can take days to clear, you won’t be able to buy in Dogecoin right soon. Because the platform is in USD, US clients have no transaction fees. Furthermore, the minimum investment is only $50.
- Browse Dogecoin on the internet.
The eToro platform makes investing in Dogecoin simple because of its user-friendly architecture. You can start looking for DOGE now that you have a fully functional and financed account. Once you’ve discovered it, click ‘Trade,’ as shown below.
You’re a few steps closer to buying Dogecoin in the United States. An order box will display once you select the trade button, and you can proceed to the next step.
- Purchase and invest in Dogecoin.
You can now enter the amount of US dollars you want to invest in Dogecoin in the appropriate area. Remember that eToro allows you to invest as little as $25, which is the equivalent of 89.35 DOGE tokens when writing this post.
What is the Best method to Sell Dogecoin in the United States?
If you’re looking for ways to invest in Dogecoin in the United States, you’ll have to sell your tokens at some time, hopefully for a profit.
The quickest way to cash out your Dogecoin investment in the United States is to sell at the platform where you originally purchased the tokens. In the case of eToro, the procedure is brief. Log in to your account and use your portfolio to place a sell order on DOGE coins. The broker will immediately credit your account with the sale proceeds in US dollars.
How to Invest in Dogecoin
Although signing up with a certified broker is the safest and most st way to invest in Dogecoin in the United States, there are other options. The most frequent are listed below.
Dogecoin Exchanges
Dogecoin exchanges are mostly located outside the United States, providing investors with diverse markets to trade with cryptocurrency enthusiasts. While they have their benefits, they can also have drawbacks, such as how exposed your DOGE tokens are due to a lack of regulation.
Regulated brokers provide a level of protection that decentralized exchanges frequently lack. It is because regulating authorities such as the regulatory bodies in the US guarantee that brokers maintain a high level of professionalism, openness, and adherence to a moral code.
Dogecoin Broker
When you invest in Dogecoin in the United States through a regulated broker, you won’t have to rely on other crypto traders to cash out your funds. It is because you will be purchasing directly from the provider.
Another benefit of investing with a registered brokerage is that they frequently accept deposits in USD via a variety of methods.
Furthermore, you can fund your account in US dollars via credit/debit cards, bank transfers, or online banking at no additional cost.
Dogecoin ATM
Since the 1960s, we’ve been utilizing ATMs to withdraw fiat money. Did you know that you can buy Dogecoin at a bank teller machine? The main distinction is that instead of withdrawing US dollars, you will deposit fiat money to purchase digital currencies. You will receive DOGE tokens in your crypto wallet.
One thing to keep in mind concerning Dogecoin ATMs is that the fees can be rather high, ranging from 5% to 15% per transaction. Compared to the 0.75 percent spread offered by eToro, it’s evident which approach to invest in DOGE is the most cost-effective.
What are the risks when it comes to Investing in Dogecoin?
Risk is inherent in all asset classes. You should be aware that investing in Dogecoin, or any other cryptocurrency, carries a high level of risk.
As we mentioned previously, Dogecoin has increased by nearly 12,00% since the beginning of the year.
As a result, the digital asset is extremely volatile.
Sharp changes result in large wins for some investors and large losses for others.
Although this digital asset does not have a significant competitive advantage in this industry, recent coin mentions have caused significant price fluctuations. Do your proper research before investing your money in a volatile and speculative asset.
How Much Does Dogecoin Investing Cost?
When studying how to invest in Dogecoin in the United States, it’s critical to be aware of the costs associated. Brokers and exchanges, after all, provide a service; thus, they need to make money.
The following are the most prevalent costs associated with investing in Dogecoin:
Commissions: The commission fees you pay for investing in Dogecoin vary based on the site you use. For example, eToro just charges a spread, which starts at 0.75 percent. Coinbase, on the other hand, charges a standard 1.49 percent commission.
Deposits: This charge will vary as well, and you will not pay anything if you deposit with a debit card at eToro as a US client. For the same payment method on Coinbase, you’ll be charged 3.99 percent for every transaction.
As a result, before signing up with a platform to invest in Dogecoin in the United States, you should carefully review the charge table.
Conclusion on How to Invest in Dogecoin in the United States
With our detailed tutorial on investing in Dogecoin in the United States; It’s never been easier to buy cryptocurrencies from the comfort of your own home, as you now know. DOGE tokens – the crypto asset that started as a joke – are attracting a growing number of investors. Dogecoin is becoming more widely accepted, with companies such as Tesla now taking DOGE as payment for their branded items. You should pick a proper broker with prudence since many companies now offer it.
We looked at the top platforms that provide Dogecoin access to US clients, and eToro came out on top. The broker is FINRA-registered and regulated, and it services millions of investors. You can spend as little as $25 and merely pay the spread, which starts at 0.75 percent and is competitive. There are numerous alternative cryptocurrency exchanges, and the provider accepts credit and debit cards with no deposit fees for US customers.
FAQs
What is the safe method to invest in Dogecoin?
eToro, which is FINRA and SEC-approved, allows you to invest as little as $25 and simply pay the spread. The bid/ask spread begins at 0.75 percent. Go to the eToro website to start trading. Sign up by providing your data and submitting a photo ID and a proof of address document. You can deposit with a credit or debit card, internet banking, or a bank transfer starting at $50.
What are the best places to invest in Dogecoin?
You can buy Dogecoin on an exchange or through a brokerage. The latter is frequently the best choice. For example, eToro has a spread-only fee structure that begins at 0.75 percent. Multiple regulatory organizations have approved this broker, and you can invest as low as $25, which is over 90 Dogecoin tokens at the moment. The platform is also extremely user-friendly for investors of different backgrounds.
Should I purchase in Dogecoin?
Dogecoin is attracting a lot of attention from investors due to Tesla CEO Elon Musk’s apparent sponsorship, which has prompted the tokens to surge. That so, there are no certainties when trading such a speculative product, so you should always do your homework and don’t invest more than you can afford.
How can I invest in Dogecoin safely?
The safest approach to invest in Dogecoin is through a regulated brokerage that has received approval from US regulators. eToro is a safe location to buy, trade, and store cryptocurrencies because it is a member of FINRA and SIPC and approved by the SEC. The FCA, ASIC, and CySEC all regulate the broker. $50 is the minimum deposit, while $25 is the minimum investment. To invest in Dogecoin with this broker, you will simply have to pay the spread.
What are my best options for cashing out or withdrawing my Dogecoin investments?
Purchasing tokens from a licensed platform like eToro and then selling them back to the same broker is the best option to cash out your Dogecoin investment. You can do this by logging into your account and choosing to place a sell order. The proceeds from the sale of your cryptocurrency will be deposited into your account immediately in US dollars.
