How to Buy Dogecoin on eToro – A Beginners Guide

Dogecoin is one of the most talked-about and popular cryptocurrencies that was created in 2013 as a joke by software developers Billy Markus and Jackson Palmer. The currency is based on the popular internet meme of the Shiba Inu dog, which is the face of the Dogecoin logo.

Like Bitcoin, Dogecoin is a decentralized, peer-to-peer cryptocurrency that runs on blockchain technology. Earlier, Dogecoin was developed as a joke, but it quickly became popular among Internet users, especially on social media platforms such as Twitter and Reddit.

Currently, Dogecoin ranks in the top 10 cryptocurrencies with a market cap of $11.5 billion and is also listed on many popular exchanges. In this article, we’ll show you how to buy dogecoin on eToro. Our guide will cover a comprehensive beginner’s guide, with step-by-step instructions detailing everything from your account setup right through to getting started with live buying. 

How to buy Dogecoin on eToro – A step-by-step guide

Buying Dogecoin on eToro is a simple and quick process that can be completed in just a few minutes. Here is a user-friendly guide that will take you through the process of buying Dogecoin on eToro. So, let’s get started!

1. Sign up for an eToro Account

You’ll need to create an eToro account to get started. Simply visit the eToro website and click on the “join now” button. You will then be asked to provide some basic information, including your email address, name, phone number, zip code, and birthday.

Then choose your username and password for your new eToro trading account. Once you have filled in all the required information, click on the “Create Account” button. 

2. Verify Your Account

In order to comply with regulatory requirements, eToro requires all users to verify their identity and account before they can start trading. This involves providing some information, such as your address and government-issued ID. You can take a copy of your passport or driver’s license and upload it to the platform. 

You will also need to upload your residency proof for address verification. Then, simply click on the “Complete Profile” button in your account setting and follow the on-screen instruction. Then you will need to wait for the eToro team to process your documents.

3. Deposit Funds into Your Account

Once your account is verified, eToro requires a minimum deposit of $10 for all new accounts in the US in order to purchase Dogecoin. eToro accepts a variety of payment methods, including credit/debit cards, bank transfers, and e-wallets such as PalPal and Neteller. 

To make a deposit, simply select your preferred payment method and click on the Deposit Funds button in your account setting. Follow the on-screen instructions to complete the transaction.  

4. Search for Dogecoin on eToro

Once your account is funded, you can start searching for Dogecoin on eToro. Simply type DOGE or Dogecoin into the search bar, then click on Trade when Dogecoin appears in the search results. 

5. Buy Dogecoin on eToro

To buy Dogecoin on eToro, enter the amount of Dogecoin you wish to purchase in US dollars. You can choose a stop loss or take profit price, which is generally used for eToro Dogecoin trading rather than long-term investing. Once you have entered your desired amounts, click on the “Open Trade” button to execute the transaction. Your DOGE Coins will be created to your eToro account.

Also Read: Dogecoin (DOGE) Price Prediction

How to Sell Dogecoin on eToro?

To sell your Dogecoin on eToro, you can follow the same steps as to buy it. The only difference is that you need to click on Sell at the form’s top, after you have opened a new order form. Once you select Sell, enter the amount of Dogecoin you want to sell, and finally, click Close Trade. 

However, If you’re a beginner and want to sell your Dogecoin on eToro, then follow the below steps:

• Log in to your eToro account. 
• From the left-hand menu, click on your “Portfolio.”
• Select Dogecoin in the list of your assets. 
• Click on the “Sell” button next to Dogecoin. 
• In the pop-up window, enter the amount of Dogecoin you want to sell. 
• Click on “Sell” to confirm the transaction. 

Many crypto investors are holding Dogecoin for the long term due to its potential to increase in value and growing popularity all around the world.

How Much Does it Cost to Buy Dogecoin On eToro?

Buying and selling Dogecoin on eToro is cheaper than other major cryptocurrency exchange platforms. When you buy Dogecoin, a transaction cost of 1% is fixed, and an additional 1% fee when you sell your Dogecoin. There are no additional charges on eToro if you buy cryptos with an e-wallet, credit, or debit card. 

When it comes to cryptos, eToro has a few limitations. Dogecoin or any other cryptos cannot be exchanged with other cryptos, which means you can’t buy Dogecoin with Bitcoin. Also, the eToro platform charges a $5 fee for all the cast withdrawals. 

Conclusion

eToro is a great platform for Dogecoin trading and investing. Its user-friendly interface allows beginners to easily buy and sell Dogecoin with minimum hassle and fees. eToro gives users access to the global cryptocurrency markets, which offers traders more opportunities to take advantage of market updates, news, trends, and events.

Moreover, eToro’s ‘CopyTrader system’ allows you to copy other successful traders with a single click. However, it is important to note that the crypto market is highly volatile, and the price of Dogecoin can go up and down rapidly. So, we suggest our readers do their own research, and analysis and understand the risks before making any investment decisions.

Also Read: Dogecoin (DOGE) Price Prediction

https://www.youtube.com/watch?v=-eTUnwj0lpA

---

Frequently Asked Questions