The world of digital assets is buzzing, and search engines are inundated with inquiries on “how to buy Dogecoin on eToro.” Although Bitcoin has become ubiquitous, the resurgence of altcoins has sparked immense interest in the once-obscure asset classes.
One particular altcoin that has garnered widespread attention is Dogecoin, a currency initially created as a parody but has lately captured the imaginations of both seasoned and new investors alike. However, novice investors, in particular, often struggle to understand how to acquire digital assets.
In this article, we will provide a clear and concise answer to this question. But before we dive in, it’s essential to note that safety is paramount when buying Dogecoin. To that end, we recommend reading this article, which provides valuable tips on acquiring Dogecoin safely on eToro.
So, sit tight, grab a cup of coffee, and let’s explore buying Dogecoin on eToro!
What is eToro?
eToro is a user-friendly social trading and investment platform enabling users to easily trade and invest in various financial assets, including cryptocurrencies, stocks, Exchange Traded Funds (ETFs), etc. The platform is known for its user-friendly interface and comprehensive educational resources, making it an excellent choice for novice and experienced investors.
Today, on eToro, you can buy or sell many stocks and the most popular cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), and others.
eToro trading platform has established a solid reputation for its pioneering vision of democratizing the investment process in the stock market and cryptocurrency. Providing user-friendly solutions has enabled a broad spectrum of people to invest in digital assets efficiently.
Apart from its innovative approach, eToro has gained wide recognition and appeal due to its powerful promotional campaigns, particularly in the European market, which is its primary focus. The platform has been endorsed by some of the world’s most well-known personalities, including the renowned actor Alec Baldwin, cementing its place as a leading investment platform in the market.
Besides that, eToro has also become known for its cool features.
One of eToro’s unique features is its social trading network, which allows users to connect with other traders and investors, follow their trading strategies, and even copy their trades. This is particularly helpful for new investors who may not have the experience or knowledge to make informed trading decisions. By following experienced traders, users can learn from their expertise and potentially profit from their trades.
Another notable feature of eToro is its CopyPortfolio investment strategies, which are professionally managed portfolios designed to provide exposure to a particular asset class, market sector, or trading strategy. These portfolios are created by eToro’s in-house investment team and are rebalanced regularly to optimize performance.
At the time of writing, eToro has offices on four continents and was valued at $8.8B in 2022 (after the SPAC amendment).
What is Dogecoin (DOGE)?
Market cap: over $11 billion (at the time of writing).
Dogecoin (DOGE), the internet meme coin, is a digital currency created in 2013 as a humorous spin-off of Bitcoin. It features a Shiba Inu dog as its mascot and has gained popularity among crypto enthusiasts.
Dogecoin’s blockchain technology is based on Litecoin and uses the same proof-of-work algorithm, which makes it more accessible and less costly than Bitcoin.
Dogecoin has an unlimited supply, meaning it has no cap on the number of coins that can be created. Further, Dogecoin’s value is generally lower than other cryptocurrencies, making it an attractive option for those new to the market.
Despite its origins as a joke, Dogecoin has developed a loyal community of supporters who trade and use it as a tipping currency for social media content. It has also gained attention from high-profile individuals such as Elon Musk, who has tweeted about it several times. What’s more, Elon Musk changed Twitter’s logo to Dogecoin’s for a while, drawing attention to the coin once again.
Users can buy and sell Dogecoin on digital currency exchanges, such as Binance, Kraken, Coinbase, eToro, and many more and store their coins in a wallet. While it may not have the same widespread acceptance as Bitcoin or other established cryptocurrencies, Dogecoin’s unique branding and supportive community make it a fun and exciting option for those looking to explore the digital currency world.
How to Buy Dogecoin on eToro
Buying Dogecoin on eToro platform is a straightforward process. To ensure a smooth buying process for Dogecoin on eToro, follow a few standard steps first. We’ve outlined them below for your convenience.
Of course, this requires you to have an eToro account. The process of creating an account, checking out, and depositing is similar both on the mobile app and in the browser.
If you already have a verified and funded account or you’ve completed these steps and have a verified and funded eToro account, continue the step-by-step guide in order to understand how to buy Dogecoin using either the mobile app or the browser version.
If you don’t have an eToro account, follow these steps:
Create an account
To get started with eToro, visit their website and click the “Start Investing” button to create an account. You’ll be taken to a registration page where you must provide your email address and choose a username and password. After reading and accepting the terms and conditions, click the “Create Account” button to finish the process.
Verify your account
To verify your account, follow the link provided in the email to confirm your email address. Further, you must provide your full name, date of birth, address, and phone number. eToro may also request that you submit a photo ID (or driver’s license) and answer questions regarding your investing experience to complete your profile.
Rest assured that your data is secure with eToro. eToro must collect this information like any other trading platform due to Know-Your-Customer (KYC) and Anti-Money Laundering (AML) legislation.
Deposit funds
To add funds to your account, click the “Deposit Funds” button and select your local currency. Enter the amount you wish to deposit, choose your preferred payment option from the dropdown menu (bank transfers, PayPal, etc.), and click “Continue.” Finally, complete the transaction to add the funds to your account.
How to Buy Dogecoin on eToro Using Mobile App
Step 1. Use the search bar to find Dogecoin
Once you’ve finished the steps mentioned earlier and logged into your account, you’ll see a search bar located at the top of the eToro dashboard. To easily find the cryptocurrency you want to invest in, enter “Dogecoin” or “DOGE” in the search bar.
Step 2. Click the “Trade” button
After finding Dogecoin using the search bar, click the “Trade” button next to the cryptocurrency you wish to purchase. Ensure that you have selected the correct currency, which in this case is Dogecoin, before proceeding with the trade.
Step 3. Complete the transaction by pressing the “Open Trade” button
After clicking the “Trade” button, ensure you are on the correct page (Buy, not Sell) by checking the title at the top of the open window. Then, enter the desired amount of funds you wish to use to purchase Dogecoin on eToro. Review all the information to confirm accuracy and click “Open Trade” to complete the transaction. Once the purchase is complete, Dogecoin will appear in your portfolio.
How to Buy Dogecoin on eToro Using Your Browser
Step 1. Use the search bar to find Dogecoin and press the “Trade” button
Purchasing Dogecoin on eToro using the mobile app is quite similar to the browser version (on the eToro website). First, you must complete the initial steps and log into your account. Once you’re in, you’ll find a search bar at the top of the eToro dashboard that you can use to search for Dogecoin by typing in “Dogecoin” or “DOGE.” After locating Dogecoin, click the “Trade” button next to the cryptocurrency you want to purchase.
Step 2. Complete the transaction by pressing the “Open Trade” button
Click the “Trade” button, ensuring you are on the correct page (Buy) by verifying the title at the open window’s top. Input the amount you wish to use to purchase Dogecoin on eToro and click the “Open Trade” button to complete the transaction.
Now, Dogecoin will appear in your portfolio.
FAQ
Can You Buy Dogecoin on eToro?
eToro offers a vast array of cryptocurrencies, including Dogecoin, for users to trade or fund in. Therefore, it is possible to buy Dogecoin on eToro.
Can I Withdraw Dogecoin from eToro?
Yes, you can withdraw Dogecoin from eToro. To do so, go to the “Portfolio” tab, select Dogecoin, click “Withdraw,” and enter the amount and destination of your digital wallet address. Keep in mind that eToro charges a $5 withdrawal fee (one of eToro’s additional fees) for each cryptocurrency.
How Do I Store Dogecoin?
eToro delivers users a secure and user-friendly eToro Money wallet, which supports various cryptocurrencies, including Dogecoin. So, you can store your Dogecoin there.
Final Thoughts
So, eToro offers a user-friendly platform that allows you to use your funds to buy various assets, including Dogecoin. It’s essential to consider the potential risks associated with investing and develop a trading plan that suits your needs. Stay up-to-date with market trends to make informed investment decisions. To start investing in Dogecoin on eToro, simply create an account, verify your identity, deposit funds, and begin trading!
* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
Source: https://coindoo.com/how-to-buy-dogecoin-on-etoro/