By Nerly Shammah Jul 07, 2023
Tired of the overcomplexity of crypto trading and exchange platforms? I am too, but thankfully, Etoro offers a user-friendly trading interface for buying and selling different cryptocurrencies including Dogecoin, below is a simple guide on how to buy Dogecoin on Etoro easily and fast.
Dogecoin is a memecoin, but I suppose you already know this if not, Dogecoin was founded on December 06, 2013, as a joke featuring a Shiba Inu dog breed.
Dogecoin gained major popularity 2 years ago when Elon Musk became a fanboy leading to a massive price increase. Since its creation, dogecoin has appreciated more than 79,000% but is currently down more than 90% from its all-time high of $0.731578 on May 08, 2023.
The following steps need to be followed to easily buy Dogecoin on Etoro, it takes no time to complete.
1. Download The Etoro App From Your App Store
2. Sign Up For An Account
3. Verify Your Identity
4. Deposit Funds
5. Visit Discover and Search "Dogecoin"
6. Click On Trade and Buy
We explain these steps to buy Dogecoin on Etoro in detail below.
You could typically use their website to get things done but we advise you to download the app from your respective app store for the best experience.
To do this, visit https://www.etoro.com/ and click on "Start Investing" This will typically prompt you to download the Etoro app from your respective app store, follow suit to download the app, the size of the app isn't much so it won't take up your device space.
After the app is done downloading, open the app and sign up for an account. You can choose to use email and manually confirm your email address or simply use Google sign up and get an account easily.
In most cases, this is easier, but you could use other available options to create or sign up for an account.
Once you've created or signed up for an Etoro account, the next step will be to verify your identity in order to make a deposit and trade, this is a legally required know-your-customer (KYC) procedure that most trading platforms have.
But don't sweat, it isn't a hassle, simply fill in the respective details requested, the most important thing will be a valid government-issued ID and proof of address, with this, your account will be verified in no time and you can proceed to the next step.
Once your account has been verified, the next step is to deposit funds. Now you can deposit any amount based on your budget, simply navigate to "portfolio" and click on deposit.
You'll find these buttons at the lower part of the screen.
This screen will pop up, here you'll specify the amount you want to deposit, fill in your card details and click on deposit.
Your card will be charged and your Etoro account will be credited. Visa, Master and Maestro cards are the accepted cards as specified in the app.
Once your deposit has been reflected in your Etoro account, proceed to the "Discover" page by clicking on the button on the bottom left corner with a magnifying glass icon and the tag "Discover".
On the Discover page, you'll find a variety of things including stocks, indices, commodities, crypto, currencies, ETFs and NFTs.
Click on crypto to see information about cryptocurrencies or quickly get to Dogecoin by simply using the search bar to search "Dogecoin".
The above image shows what search results you'll get, simply click on trade, choose the amount you want to buy, and viola, now you have Dogecoin in your Etoro wallet that you can use as you desire.
Dogecoin as previously stated, is a memecoin, others call it a shitcoin which typically means that it has no intrinsic value.
However, dogecoin may be speculatively profitable to buy given the hype around memecoins and the personalities currently interested in the cryptocurrency, however, how long this hype will last to make trading or investing in dogecoin profitable cannot be determined.
Based on numerous online reviews, Etoro is a safe trading environment for major cryptocurrencies and diverse other investment products like stocks, currencies, NFTs, ETFs, commodities and Indices, however, we advise you to do your own thorough research on the legitimacy of the platform and the value of investing in Dogecoin as this article is not intended to be a financial or investment advice but only for educational and informational purposes.
Happy trading and investing.
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