Here’s How Crypto Investors Buy Dogecoin on eToro for Profits

Those who have a little knowledge about crypto know about meme coins too. Besides, if they’ve heard about meme coins, they are familiar with dogecoin as well. It is the first and the most valuable meme coin in the world. Due to being the original, it enjoys a huge support of the community. 

So, investing this this coin is not something one doubts over. However, like all the cryptos, dogecoin is also exposed to volatility. Thus, traders need to be careful before putting their hard-earned money into any crypto. Before starting to do the analysis, it’s probably better to choose the platform to buy the coin. 

eToro is one of the prominent trading platforms that makes buying cryptos very easy. On this platform, investors could finish the buying process of dogecoin in just a few steps. So, let’s go ahead and check the simple procedure.

Steps to Buy Dogecoin on eToro With Easy Steps

Following these instructions, traders can buy Dogecoin or many other cryptos quickly on eToro.

Step 1: First of all, users are required to create an account on the platform. They can do it eToro website or its mobile app using the “sign up” button. Users must remember that eToro is a centralized portal and KYC is mandatory here. So, they have to provide their email address, name, and a govt-issues ID too.

Step 2: Once the account is verified and created, users will need to bankroll it. They just have to click on “Deposit” and choose their preferred mode of money transfer to do it. The most commonly used options available here are credit/debit cards, e-wallets, wire transfers, etc. 

Step 3: After enabling the account to purchase, it’s time to make one. Users need to click on the search bar at the top and type “Dogecoin” in it. Once it appears, they have to click on it to select the token. 

Step 4: Next, they need to place the order by choosing either “market order” or “limit order”. Market order shows the current price of the asset in the market. Limit order is something that the users set themselves. For example, Dogecoin is selling at US$2 right now. A user wants to buy it at US$1.20, so he sets it as the limit order. Whenever the market price reaches that limit, the order is placed. Market orders are executed then and there. 

Step 5: Users must review their order before finalizing it. They should check if the number of tokens and type of order is exactly what they have selected. Once satisfied, they can proceed with it.

That’s it, the purchasing is done and investors can now monitor their investments. They can do it by clicking/tapping the “portfolio” button. Otherwise, they can check the daily/weekly/monthly charts of the coins on the platform. eToro makes tracking fairly easy even for beginners.

Here’s an Alternate Method for Buying Dogecoin on eToro

The existing users of eToro can use this method as well for buying Dogecoin or other cryptos. It comes in handy for those who’d like to invest right after seeing the token’s performance.

Step 1: On the home page, users need to click on the “Discover” option among the others on the left-hand side.

Step 2: Then, click on “Crypto” from the options shown at the top of the page.

Step 3: Upon clicking “crypto” an auto-populated list of “daily movers” appears on the screen. Dogecoin may or may not be here. If it’s not, they need to click on “View All” highlighted in the image. 

Step 4: When they see “Doge” in the list, they can click on it and see its analytics. On this page, they get full information on the token’s performance on many fronts. 

Step 5: Users need to check all the details about the token’s performance before they hit the “invest” button. 

Is Dogecoin a Good Investment Option for 2024?

Dogecoin is one of the most popular investment options in the entire crypto domain. Does that mean it would reap profits for its investors in the future? Well, investors will have to do a little homework to find that out. As per the forecast, 2024 is going to be bearish for Dogecoin.

Users, who want to buy Dogecoin, may have ample time to do it next year. The next few years may give some positive results on these investments. Yet, it is recommended to do a full evaluation of the asset and the market before taking any step.

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.