Let’s start with a question: What’s your Why?
So you’ve heard the buzz for weeks but haven’t joined the Dogeparty, and now you’re wondering how to buy Dogecoin. Buying Dogecoin is, for many, a first-time journey into the world of cryptocurrency. The low-entry point provides an opportunity to purchase multiple Dogecoins at a low cost. This makes it a fun experience, and something accessible to everyday people.
That said, it is still a cryptocurrency, and cryptocurrencies are very volatile. Before you buy Dogecoin, we have just a few bits of advice and a question we’d like to ask. We know you’re here to learn how to buy Dogecoin, not to be given lessons in all-thing-crypto, so we’ll try to keep this preface short and then get to the good stuff.
But first, a disclaimer: We’re not financial advisors, what we are providing here are our opinions and thoughts, and some suggestions based on our experiences and knowledge we’ve gained on our own journey. We encourage you to do your own due diligence and research and to only invest what you can afford to lose.
Okay, with that out of the way, let’s ask…
What is your why?
In order to find the best option, first ask yourself, what are you hoping to accomplish? Are you looking to make a long-term investment, make some profits in the shorter term (spoiler: Doge is not a get rich quick opportunity), or are you looking to buy and use your Dogecoin? Or, maybe some combination of these?
Don’t worry, you can always change your mind later, but knowing how you want to get started will help you choose from the myriad options for buying, holding, and using Dogecoin.
Three Paths of Many
To keep things simple, we’ll walk you through how you can buy Doge for holding long-term, how you can buy Doge and have access to trading tools that will allow you to play the trading game, and how you can buy Doge for holding-long term while at the same time buying some Doge to use (this is our favorite path, and the one we are on ourselves).
How to buy Dogecoin for holding long-term (or Hodling, as the cool kids say)
If you’re looking to buy some Doge and hold on to it long term to watch it grow (and drop, and grow higher, and repeat…), and you’re totally new to buying cryptocurrencies, there’s perhaps no easier route than signing up for a Robinhood account and buying Dogecoin. Never mind the boos from the serious hodlers, we love Robinhood for its simplicity and zero cost trades.
Robinhood is a beginner’s friend. It’s simple to a fault, but that might not matter if you’re only wanting to buy and hold.
The Robinhood interface is super simple, and buying Doge is as easy as signing up, connecting your funding source to add funds, and making your purchase. It’s great for buying and holding, but not so great if you want to do anything else. The key thing to remember with Robinhood is, currently, you will not have access to use the Doge you’ve bought. You will be able to sell it if you wish, but you cannot transfer or otherwise use the Doge you have bought.
Robinhood has promised that work is underway to change this, but for now, it’s important to know that buying Doge in Robinhood is only recommended if you want to buy some Doge to hold.
If you’d like to try Robinhood, using our link will get you one random, free stock of varying value. We’ll not tell you what you should do with that stock, but, you could sell that stock and use the money to buy some Dogecoins. It’s not technically a Get Dogecoin For Free offer … but it kinda is.
How to buy Dogecoin and trade for gains
If you’re looking to do more serious trading and want tools that will allow you to set future buys, stop-loss sales, and all the goodies and tools of trading apps, we’d recommend having a look at Kraken.
Kraken is great for traders, providing an opportunity to set your buys and sales, and charts and tools to help you plan.
Kraken could be a little intimidating for total beginners, but if you want to learn to trade crypto for profits, it’s a great option. The graphs and tools available are very powerful and will allow you to look at your Dogecoin purchasing as a trader.
In addition to buying Dogecoin through Kraken, you can also transfer your Dogecoins to other wallets, which opens up the opportunity to use your Doge for purchases or just move it to another wallet. There are transfer fees to consider, so while the opportunity is there to move your Doge, there are better options if you think you might want to be able to move or use your Doge frequently. We will be doing an article soon to cover wallets, for the time being, if you’re looking for one we really like TrustWallet.
For this reason, we recommend Kraken if you’re considering doing trading and want to plan buys and sales and work toward making profits with trading. It can also serve well if you want to buy and hold, giving you an opportunity to learn how to use trading tools to plan the best time to buy.
How to buy Dogecoin so you can use it
We believe that Dogecoin is the best crytpo currently in existence to use as an alternative to fiat currency. We also believe that using Doge helps to strengthen it by increasing its utility, and thus increasing its value. That’s one of the main reasons we created this site … but we digress …
If you would like to be able to easily use your Dogecoin, we highly recommend looking at Bitpay. Bitpay is an app that will serve as a wallet (storage), and allow you to use the Doge you have on hand to make purchases at a growing number of businesses. It’s the solution that The Dallas Mavs (by way of Mark Cuban) partnered with to accept Dogecoin, and it makes the job of using Dogecoin for purchases very simple.
Bitpay makes using Dogecoin for purchases super simple.
With Bitpay, you can transfer Doge you’ve purchased via other apps, or you can buy Doge as you need it within the app. As mentioned earlier in this article, we are fans of a buy-and-hold + buy-and-use approach to Dogecoin. We have our long hold purchased in Robinhood, and we use Bitpay when we want to use Doge for purchases, with our most recent purchase being tickets to an Oakland Athletics game.
You might wonder why would you go through the trouble of buying Doge so that you can use it to pay for things – and that’s a fair question. The answer is simple, as we mentioned above, increasing the utility of Doge will increase it’s value. As we are believers in Dogecoin’s utility and we are long-term holders, we want to see it grow and remain healthy. Buying and using Doge for making purchases ultimately helps ensure our investment in Doge is a good one.
These are three options out of the many, many more that are available. We’ve began listing places to buy Doge, and will continue to add more to the list as we are able.
We’ve enabled comments on this page and would love to hear what your favorite places to buy Dogecoin are! Tell us where and why you like the service and we’ll prioritize adding services based on the communities input.
Shitposts will be deleted – please just keep it to what you like, not what you hate.
Be sure to follow us on Twitter to be notified of new articles, and newly added businesses, and let us know how it goes with your first Dogecoin purchase!